Politics

Lagos, PEBEC to take away obstacles to ease of doing enterprise

The Presidential Enabling Business Environment Council and the Lagos State Government in a collaborative engagement have declared strikes to place measures in place to remove bureaucratic bottlenecks inhibiting ease of doing within the state.

This is trailing reviews that the Gross Domestic Products of Lagos grew from N27 trillion to N41 trillion beneath the administration of the State Governor, Mr Babajide Sanwo-Olu, with claims laid to efforts facilitated to selling ease of doing enterprise within the state.

Sanwo-Olu, on the extraordinary ninth Lagos Corporate Assembly, in Lagos on Tuesday, defined that the federal government believes the outstanding development in its economic system has been made potential by the initiation and implementation of deliberate insurance policies and intentional methods to facilitate and promote a conducive surroundings for enterprise to thrive.

“Let me state right here that, by our T.H.E.M.E.S+ Development Agenda, we stay steadfast in our dedication to sustaining an enabling surroundings for companies to develop and thrive. This agenda encapsulates our imaginative and prescient for a Greater Lagos, notably the 4th Pillar M, which is Making Lagos a twenty first Century Economy.

“Using the instrument of the agenda, we’ve launched quite a few coverage reforms to ease the doing of enterprise in Lagos. We are simplifying regulatory processes, bettering infrastructure, and leveraging know-how to streamline interactions between companies and authorities companies.

“Our goal is to minimise bureaucratic bottlenecks and create a seamless experience for all businesses operating in our State,” he stated.

He added that, “A living proof was when the Ministry of Commerce, Cooperatives, Trade & Investment, together with the Presidential Enabling Business Environment Council, PEBEC interfaced to align the place of a State Agency with a platinum PEBEC member in the direction of facilitating a mutually agreeable working relationship.

“The role brought the parties to a dialogue table in an atmosphere of equity and fairness. This is the way we want to continue to work as both State MDAs and members of the Organised Private Sector see each other as partners in progress.”

Sanwo-Olu who was represented on Tuesday by his deputy, Dr. Obafemi Hamzat on the LCA, the 4th within the sequence of the Babajide Olusola Sunwo-Olu (BOS) Meets With Business Community stated the federal government remained steadfast in its dedication to sustaining an enabling surroundings for companies to develop and thrive.

Speaking on the importance of the discussion board with the theme; “Unpacking Barriers to Ease of Doing Business: Accelerating Business Growth”, Sanwo-Olu talked about that LCA has grow to be a virile public-private engagement platform, by which the state authorities and the enterprise neighborhood work together and talk about points which can be germane to Ease of Doing Business and enterprise prosperity within the state.

He stated, “This gathering is a testomony to our unwavering dedication to fostering a conducive surroundings for companies to thrive in Lagos State.

“As an administration, we take the Lagos Corporate Assembly as an important platform for public-private dialogue, the place we collectively establish challenges, talk about options, and chart a course for sustainable financial development and growth. This is as a result of we recognise the ability of stakeholder engagement and the significance of offering a listening ear to the enterprise neighborhood.

“Our resolve is to make the LCA a formidable platform for public-private collaboration, ensuring that your voices are heard and your concerns are addressed promptly. We are determined to turn the feedback we receive from you into actionable policies that will further ease the business environment in Lagos.”

He assured the enterprise neighborhood of continued help of his administration to be unreservedly dedicated “to providing the necessary resources, infrastructure, and policies that will ensure your businesses not only survive but thrive.”

“We will continue to engage with you, listen to your needs, and implement reforms that will foster an environment necessary to grow your businesses,” he assured.

While assuring the enterprise neighborhood to include their suggestions into coverage formulation and regulatory opinions, Sanwo-Olu famous, “As we gather here today, let us reaffirm our collective commitment to overcoming the barriers to ease of doing business. Let us work together to accelerate business growth, create more jobs, and drive economic development in Lagos State.”

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A member of the PEBEC, Dr Jumoke Oduwole stated the mandate of the council was to take away bureaucratic bottlenecks and enhance the notion of doing enterprise in Nigeria.

The council, chaired by the Vice President, Alhaji Kashim Shettima, has different members together with 19 ministers, representatives from the National Assembly, judiciary, states, and native governments, amongst others.

Oduwole talking on the scope and areas of curiosity of PEBEC, talked about that the council is open to receiving complaints immediately from stakeholders throughout platforms.

He added that the Council in keeping with fulfilling the mandate of selling ease of doing enterprise explores measures to work based on worldwide finest practices whereas partaking with Ministries Departments and Agencies.

Oduwole stated, “We work with associates of Nigeria, growth companions, diplomatic corps and civil society teams. We additionally work with regulatory our bodies that you simply encounter each day.

“We listen to complaints from your companies directly or through social media and we look at international best practices and engage with MDAs. We negotiate this: why does it take 10 steps in Nigeria while in Ghana, it takes only three steps and in Singapore, it takes only four minutes? We break down the process and we say what we can do better.”

Oduwole disclosed that because the council collaborates with sub-nationals, states with efficiency outcomes would have its share of 750 million {dollars} domiciled with the Federal Government from the World Bank.

The Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Ambrose-Medebem acknowledged, “Here in Lagos, we understand the language of business and what we need to do to get our investors and businesses to where they ought to be. This is why the State still retains its key status as the operational headquarters of many multinationals.”

She added that the LCA was designed as a public-private engagement the place points affecting the enterprise surroundings are cohesively offered by the personal sector and mentioned with the governor, with instant directives to the MDAs in query for decision.

“I am glad to note that according to the World Bank’s Subnational Doing Business Report, Lagos State applied and met all criteria to qualify for the first phase of the World Bank funded State Action on Business Enabling Reforms (SABER) programme,” she stated.

The commissioner added that the federal government had carried out key reforms which coated land administration, acquiring growth permits, digital cost of taxes and levies, fast dedication and backbone of business disputes, amongst others.

According to her, these and different reforms would additionally rating the State excessive on the opposite SABER Result Areas and Disbursement Linked Indicators.

“In latest years, the economic system has grown from N27 trillion to N41 trillion naira. This phenomenal development has been made potential by initiating and implementing deliberate insurance policies and intentional methods to facilitate the benefit of doing enterprise and promote a conducive surroundings that continues to draw investments into the state.

She revealed that the State is within the means of constituting an Ease of Doing Business Team that may be tasked with interfacing with stakeholders within the enterprise neighborhood through a one-stop store digital interface.

She famous, “This will be technology-driven to meet the demand of the highly digitised local and global investors community.”

“The virtual one-stop shop interface will be enabled with robust connectivity to strategic global business gateways to enhance access to the State for the global business communities,” she stated.

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