Minister of Information and Culture, Lai Mohammed has revealed that the administration of President Muhammadu Buhari has transformed Nigeria’s business environment for good compare to what it was previous years.
He stated this at the weekend when he gave a
keynote address at the 2018 ‘Africa Together Conference’ at the University of Cambridge, United Kingdom.
Lai Mohammed lauded efforts from the Nigerian President who has weather the early storm of recession that almost wreck the nation’s economy, to stabilise and creating an enabling environment for local and foreign investors to do business in Nigeria.
‘’Much of our programmes have honed-in on business reform. Nigeria has moved up 24 places on the World Bank ranking of Ease of Doing Business index – putting it among the top 10 global reformers, along with Zambia, Malawi and Djibouti. The two areas we have prioritised are starting a business and access to credit.
‘’In Nigeria, registering a business used to take months. Now it takes 24 to 48 hours. Unwrapping the bureaucracy and streamlining processes has encouraged an uptick in new official enterprises. We have introduced online registration, with features such as the electronic stamping of documents.
“And to ensure this brings with it the maximum benefit, Micro, Small and Medium Enterprises clinics have been deployed across a variety of states to provide regulators a contact point with informal business and budding entrepreneurs to clarify any issues,’’ Mohammed said.