Presidency plans new law to institutionalise business reforms

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The Presidency is working on enactment of a new law that will encompass all the over 140 reforms so far introduced into the business sector into a single legislation.

The bill is being prepared by the Presidential Enabling Business Environment Council chaired by Vice-President Yemi Osinbajo.

She said the essence of having an omnibus bill on business facilitation was to institutionalise all the reforms, primarily for ease implementation and sustenance of the efforts. “In Q4 2017, over 40 law firms from across the country supported an SBL Steering Committee pro bono to review and categorise the submissions received, which were then distilled into a document that formed the basis of the work of the drafting team from the Ministry of Justice that resulted in the earlier version of the draft bill prepared in 2018.”

 

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