Improvements in the business environment will impact positively on productivity—LCCI

The Lagos Chamber of Commerce and Industry said that improvements in the business environment will impact positively and significantly on the productivity, prosperity, and progress of the Nigeria private sector.

President of the Chamber Mrs Nike Akande said “We expect that the PEBEC initiative will remove the numerous obstacles and barriers, which have been a source of frustration to entrepreneurs.  We applaud the creation of the Presidential Enabling Business Environment Council (PEBEC), chaired by the Vice President, Professor Yemi Osinbajo, GCON; with the Honourable Minister of Trade and Investment, Dr Okechukwu Enelamah as Vice Chairman. The profile of this council, as reflected in its composition, underscores the importance that the government attaches to business environment issues and by extension private sector development.”
She further said “This would reposition the private sector to play a much more important role in the economic recovery process.
We commend the 60-day national action plan for ease of doing business as articulated by government. The specifics of this action plan include: reduction in the time required for business registration at the Corporate Affairs Commission [CAC] with the upgrade of its online portal; reduction in the period it takes for product registration by relevant regulatory agencies of government; transparency and inclusiveness in the procurement processes; reduction in the number of agencies examining cargoes at the ports and commitment to the introduction of Single Window for cargo clearance by the end of the year; streamlining the immigration procedures and processes to reduce the bureaucracy of issuing passports and visas, as well as issuance of Visa on Arrival; upgrading of the websites of MDAs and commitment to the improvement of the ambience of our international airports.”
According to her “The progress made in the engagement of the Niger Delta stakeholders is commendable. The country has witnessed a respite from attacks on oil installations in recent times. We implore the government to sustain the strategic engagement. The fundamental developmental issues in the region should be urgently addressed. It is in the interest of all that we have an enduring peace in all parts of the country.
“These laudable steps and measures will impact positively on investors’ confidence and promote domestic and foreign investment. Ultimately, the doing business ranking of Nigeria will improve, making the country a major investment destination.
“The LCCI will track the deliverables of PEBEC for appropriate feedbacks to the government. We urge the State Governments to take a cue from the current steps of the Federal Government to improve investment environment in their states. This is especially necessary with regard to the business environment variables which are within the purview of the states such as construction permits, perfection of land titles and the multiplicity of taxes and levies. “