Buhari Enacts The Business Facilitation Bill.

Buhari enacts the business facilitation bill. Buhari enacts the business facilitation bill. The Business Facilitation Bill 2022, also known as the Omnibus Bill, was signed into law by President Muhammadu Buhari in order to provide a supportive environment for the nation’s micro, small, and medium-sized companies (MSMEs).

The Executive Bill, which amends 21 business-related laws and removes bureaucratic barriers to doing business in Nigeria, was introduced as the Business Facilitation (Miscellaneous Provision) Act, 2023. It is a legislative intervention by the Presidential Enabling Business Environment Council (PEBEC).

The new legislation also enshrined the Administration’s first executive order, Executive Order 001 on Transparency and Efficiency in Public Service Delivery, which intended to enhance corporate reforms throughout the nation.

Dr. Jumoke Oduwole said in her remarks that the PEBEC Secretariat was “delighted to see the Act come into fruition, saying it was a culmination of more than four years of collaboration between public and private sector stakeholders, including the Attorney General of the Federation, and the Federal Ministry of Justice,

Others include the National Assembly Business Environment Roundtable, the Nigerian Economic Summit Group (NESG), and the Nigeria Bar Association Section on Business Law, which includes involvement from over 40 law firms and consultancy businesses (NASSBER).

With Senator Babajide Omoworare, Senior Special Assistant to the President on National Assembly Matters (Senate) all his efforts, she stated, “We are particularly thrilled to commend the 9th National Assembly for its quick consideration of this Bill.”