Vice President Kashim Shettima has charged regulatory agencies to eliminate overlaps and align their actions with President Bola Ahmed Tinubu’s agenda for economic growth and improved ease of doing business in Nigeria.
The Vice President made the call during the Presidential Enabling Business Environment Council (PEBEC) Regulators’ Forum to build an effective Regulatory Impact Framework (RIA) for Nigeria, which was held at the Presidential Villa in Abuja.
“Government regulators to be willing to reinvent processes and innovate, guiding Nigeria towards a future where we are not economically disadvantaged but positioned to thrive.
“Our duty to the private sector is clear: to listen, process their concerns, and develop solutions that drive growth. In recent months, there have been pockets of complaints regarding certain directives from our regulatory agencies.
“I have personally intervened on several occasions to ensure we are not hampered by conflict but instead move forward with unity and purpose
“The success of this forum today does not solely depend on our ability to collaborate, share knowledge, and align our regulatory actions with the broader national agenda.
“It also depends on our capacity to recognise and address criticisms and shortcomings while striving for a nation that does not feel like a battlefield for businesses, but a place where investors can thrive without fear of unnecessary hurdles,” he said.
He said the president envisions a country where regulatory excellence drives economic growth, attracts investment and ultimately improves the quality of life for all citizens.
“Time and again, President Bola Ahmed Tinubu has reassured the business community of his commitment to easing any bottlenecks they may encounter, and each regulator here must adopt the same mindset in their dealings with private enterprises.
“The work of PEBEC, particularly through initiatives like the Regulatory Reform Accelerator, has been pivotal in reducing the obstacles faced by businesses.
“Today’s forum offers an unparalleled opportunity to address these issues head-on and chart a new course towards regulatory cohesion. This is not merely an event – it is a defining moment for us to reflect on the duties we owe our nation,” he said.
Also speaking, the Special Adviser to the President on Presidential Enabling Business Environment Council (PEBEC) and Investment, Dr Jumoke Oduwole, said regulators must act as enablers, evolving to support and nurture the very ecosystem they oversee.
“Regulators should be assessed based on the health of the businesses under them. If the businesses are dying, the regulator should be concerned,” she said.
