Presidential Enabling Business Environment Council (PEBEC) - An Elixir for Competitiveness.


Presidential Enabling Business Environment Council (PEBEC) - An Elixir for Competitiveness.

Presidential Enabling Business Environment Council (PEBEC) - An Elixir for Competitiveness - Presidential Enabling Business Environment Council,   Why Americans are not doing business in Nigeria,  Presidential Enabling Business Environment Council Archives ..., Presidential Enabling Business Environment Council,  critical members of the Presidential Enabling Business Environment, Nigeria to establish presidential enabling business environment council, Presidential Enabling Business Environment Council (PEBEC), enabling business environment secretariat, pebec Nigeria. These will enable you understand what the federal government of Nigeria is doing about ease of doing business in Nigeria.

Certain of these measures are already covered in certain articles in this website. Articles like;  Nigeria's V.P. Osinbajo: Doing Business In Nigeria Is Getting Easier, Federal Government Of Nigeria's Commitment To Ease Of Doing Business In Nigeria,The Ease Of Doing Business In Nigeria among others.

Presidential Enabling Business Environment Council (PEBEC) - An Elixir for Competitiveness.

The PRESIDENTIAL ENABLING BUSINESS COUNCIL has done an incredible job in the last couple of months to build the blocks for ease of doing business in Nigeria and pushing the frontier for us as a nation on the competitiveness index.



Presidential Enabling Business Environment Council (PEBEC) - An Elixir for Competitiveness.

In fact,to be competitive you must bring to bear a Comparative edge and bent in the way you conduct yourself. This is further reinforced by how you provide an enabling environment for businesses to thrive.

Presidential Enabling Business Environment Council (PEBEC) - An Elixir for Competitiveness.

READ ALSO: Doing Business in Nigeria Getting Easier.

In this article I will be highlighting the activities of Nigeria's Presidential Enabling Business Environment Council (PEBEC). This is to enable our readers keep brace of changes in economic activity procedures in the country. It is aimed at encouraging local and foreign investors in the country.

The President approved the establishment of the Enabling Business Environment:


Secretariat (EBES), closely overseen by the PEBEC as a pragmatic mechanism to begin the process of systematically removing the binding constraints to doing business in Nigeria. The proposed mechanism for improving the business climate in Nigeria emulates the key success factors from countries (e.g., Georgia and Rwanda) that have made significant progress in removing the constraints to doing business in their countries.


The Vice President, Professor Yemi Osinbajo, has disclosed that the Federal Government achieved 31 reforms in the last 60 days on the ease of doing business mandate under the Presidential Enabling Business Environment Council (PEBEC).

Presidential Enabling Business Environment Council (PEBEC) - An Elixir for Competitiveness.



During the week, Dr. Jumoke Oduwole; Senior special Adviser to the President on Industry Trade and Investment and Secretary of the council discussed the job of the council and the quick wins attained. She availed us of the 60 day National Action plan which sought to set the tone for our journey to Competitiveness through ease of doing business.

The inclusion of a multi-sectoral stakeholder group of MDAs, National Assembly, the Sub-nationals (Lagos and Kano index states) and select members of the organized private sector with a well thought through monitoring and evaluation mechanism is an eloquent testimony of the sincerity purpose exhibited in the course of their work.

The Document highlighted priority areas as defined by the council to include;-Starting a business, dealing with construction permits, Getting electricity, Registering Property, Getting credit, Taxation, Trading across borders and a very important one, Trade and investment- Entry and exit of People. It is important to note that the Pilot states or Index states are Lagos and Kano for a start.

 Starting a Business:

As regards starting a business, the target was to reduce the number of days required to register a business from 10 to 2 days and the following reforms have been completed; A company name search on the CAC portal can now be activated and this ensures no duplication and prevents selection of prohibited names, Lawyers no longer required for business registration as its now optional and not compelling. A one stop single incorporation form has been introduced to save time and reduce costs, document interface upload online is now possible

Presidential Enabling Business Environment Council (PEBEC) - An Elixir for Competitiveness.

FIRS e-payment:

Additionally, FIRS e-payment Solution has been integrated and CAC lawyers can now conduct DECLARATION OF COMPLIANCE fee In-house for a minimal fee. In a nutshell, subject to meeting all conditions precedent your business can be registered in 24 hours. Only reform pending is the up-time reliability of the portal that will move closer to 6 hours.

Construction Permits:

On dealing with construction permits, which by the way is still a struggle even in America judging by President Trump’s pre-election pronouncements, the target is to reduce the number of days required to get a construction permits from 42 to 20.

Six reforms have been completed diligently and include obtaining Clarity on Environmental Impact Assessment and Soil Test, E-Planning platform activated with clear timelines indicated and fees published online as well as Qualification laws and procedures published online. Obtaining the Regulation on Construction permit in 30 days in the first instance seems to be the only pending reform.

Getting Electricity:

The target of Getting Electricity through connection to the national grid in 60 days through procedural improvements has happened as this bottleneck has been reduced from 9 to 5 steps and a timeline for new connections from 198 days to 61 days.. No mean feat particularly for Small and medium scale enterprises SMEs.

Access to Credit:

Access to credit and at cheaper rates for MSMEs in 60 days is the target here and to ensure this happens seamlessly, online searches of secured interests on movable assets can now be done via a National Collateral Registry(awaiting Senate and House passage) with an increased usage of same alongside Credit History and Credit Scoring. The only pending item is the enabling legislation by the National Assembly through Bills to ease access to credit, Collateral Registry and that of a Credit Bureau service. You will agree that an act of parliament gives it legality and fillip.

Presidential Enabling Business Environment Council (PEBEC) - An Elixir for Competitiveness.

Property Registration:

Property Registration with minimal encumbrances is the target but a lot still needs to be done here as only 2 reforms have been completed and one is that sworn affidavits are no longer required for conducting title searches and streamlining of registering process through merged requirements for stamping of Deed of Assignment with final registration process. The pending ones however include inability to consolidate payments into one, Reduction of time for governor’s consent which exceeds that of other climes with similar laws and lastly online upload for Complaints is not yet ready.

Cross Border Trade:

Cross-Border Trade with regards to reducing import and export time by 50% is the target and an above average performance has been attained. Palletization of imports to enable quicker physical inspection and examination is now to be introduced, Provision of Advanced Cargo Manifest through transmitting it in advance to ensure improved risk assessment and optimal cargo placement.

The NIgeria Customs Service has been enjoined to coordinate physical examination between official s and importers. Central Bank of Nigeria ,Customs and Commercial Banks are now required to process Net Export Proceeds-NXP forms in 72 and Pre- shipment Inspection Agencies are now compelled to issue Certificate of Clean Inspection within 3 days. All these are part of the processes of accelerating the Pre-Export documentation procedures. Import documentation requirements are to be reduced from 14 to 8 and for Exports from 10 to 7.


Presidential Enabling Business Environment Council (PEBEC) - An Elixir for Competitiveness.

Lastly Container Placement Notice time by Terminal operators for examination to be reduced from 24 hours to 12 hours. In the whole scheme of things Customs and port officials are being primed to be trade facilitators and not business blockers.

Immigration Procedure:

Finally, ease of Entry and Exit of people particularly those outside the ECOWAS trade block and Sub- region needs to be enhanced. The target is to improve visa processing timeline and if possible reduce cost of same as Nigerian visa fees are higher than the continent average for a start and improving the traveller experience for businessman and tourists is critical. Visas are given on arrival for all Africans at a token sum of 30 dollars and the experience at the airport and flying experience is a delight particularly if you fly the National carriers.

The Council has prioritized this through simplification of the visa on arrival and submission process through E- submission in concert with the Nigeria Immigration Service with a new Regulation in place for 2017. Arrival and departure cards or forms have been consolidated into one and a 48 hour processing time for business and tourist visas at our Embassies and High Commissions have been approved.

Presidential Enabling Business Environment Council (PEBEC) - An Elixir for Competitiveness.

In my view, cost and tenure of visas should be based on reciprocity but if the African Union Passport and visa regime comes into effect we should embrace it. Mauritius and Rwanda as well as Namibia seem to be at the forefront here but we must commend Kenya which entered into a bilateral agreement with Nigeria for visa on arrival for 50 dollars and which came into effect during the twilight of the last administration and has remained in place to date. You will agree that both countries are regional giants… a case of EAST meets WEST and this is needed to boost continental Trade and Tourism.

Airports Infrastructure:

What is lacking now however and needs to be radically addressed is the infrastructural decay at two major gateways called airports in Abuja and Lagos for a start. The derelict state of the Muritala Muhammed International Airport fashioned after Schipol in Amsterdam (Holland) is a case in point. The facilities there; ranging from the central cooling system to the escalators, toilets and the conveyor belts are an eye sore.

The Airport looks like an atavistic remnant of Neolithic times. Nnamdi Azikiwe International airport in Abuja is not any better in spite of the newly completed runway. They both urgently need to be upgraded and beautified via coats of paint and other state of the art technology befitting of a country that wants to be not only an aviation hub but equally an investment destination. The first point of contact by a first time visitor to any country is the Airport. You never get a second chance to create a first impression is the refrain.

Assessment:

The job done thus far by the Presidential Enabling Business council in 60 days has been exemplary and even if we have only managed to move the needle, one can still see it in the haystack with the naked eye.

Presidential Enabling Business Environment Council (PEBEC) - An Elixir for Competitiveness.

The council has been able to show through the Chairmanship of the Vice President that where there is a will there is a way and that if government decides to work as a collective a lot can be achieve

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