Upper Chamber of the National Assembly, yesterday, passed the Business Facilitation Bill 2022, also known as the Omnibus Bill.
The bill, earlier okayed by the House of Representatives, is an intervention of the Presidential Enabling Business Environment Council (PEBEC) to consolidate and amend legislative provisions towards deepening ease-of-doing-business reforms and removing bottlenecks for Micro, Small, and Medium-sized Enterprises (MSMEs).
The bill will now be transmitted to President Muhammadu Buhari for assent into law. This legislative approval comes on the heels of the recent approval of the $750m World Bank-backed State Action on Business Enabling Reforms (SABER) programme by the Federal Executive Council (FEC), which was earlier approved by the World Bank Board.
The SABER programme will incentivise and strengthen the implementation of business-enabling reforms across all states in Nigeria. With these strides, the PEBEC is poised to mark the festive season by staging its critically acclaimed play, titled, “The Future Is Here” which showcases its ease of doing business reforms free of charge to the public from December 30 to January 1 at Landmark Event Centre in Lagos
