The Federal Government has disbursed $68.36 million to 28 states under the States Action on Business Enabling Reforms Programme.
This programme is a $750 million loan initiative. It is supported by the World Bank. The aim is to improve the ease of doing business across Nigeria.
Key Highlights:
– 33 states signed the Subsidiary Loan Agreement, with 28 states receiving between $1 million and $4 million.
– Funds released to implement reforms that enhance business competitiveness, streamline regulations, and improve investment policies.- Independent Verification Firm engaged to conduct performance assessments for 2023 and 2024.
Programme Objectives:
– Enhance efficiency in land administration- Improve regulatory frameworks for private investment in fibre optic deployment- Strengthen transparency in government-to-business services
Expected Outcomes:
– Position states as attractive destinations for local and foreign investment
– Align with President Bola Tinubu’s Renewed Hope Agenda
The programme’s success is due to contributions from the Presidential Enabling Business Environment Council. It is also attributed to the Nigeria Governors’ Forum and the Debt Management Office.