The lawmakers made this known during the Presentation of country report of Nigeria at the ongoing 2023 First Ordinary Session of the Assembly in Abuja.
The lawmakers in the report presented by Hon. Linda Ikpeazu said: “Nigeria’s record of EoDB is not stable and it is reflective of the ongoing challenges confronting our economy. To improve the situation on 14 February, 2023 the federal government under the leadership of His Excellency, President Muhammadu Buhari, signed into law the Business Facilitation Act 2023, a legislation that fosters an enabling environment for micro, small, and medium-sized enterprises in Nigeria.
According to the lawmakers the “Act among other things would promote accountability and transparency for government agencies and business operations as well as boost technology use in Ministries, Departments and Agencies .
The legislators said further that with the implementation of the law and consolidation of the reforms, there would be seamless public and private sector partnerships, thereby improving domestic businesses and attracting foreign investments while extensively impacting the economy. They also said there are presently concerns over the smooth implementation of the 2023 national budget since the budget is largely funded by crude oil benchmarks and loan grants which are momentarily plummeting., lamenting that “this is as a result of inability of the country to find substantial buyers for its crude oil,” insisting that “this deplorable situation could be compounded by strikes in the French refining sector and maintenance at European plants where Nigeria refines her crude oil.
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