Vice President Kashim Shettima has said the Presidential Enabling Business Environment Council (PEBEC) Regulators' Forum, which held at the Presidential Villa Thursday is expected to ensure improved trust, transparency, and adherence to global standards in regulatory practices, emphasizing the need for regulatory agencies to streamline their operations, eliminate overlaps, and align with President Bola Ahmed Tinubu's economic agenda.
Vice President Shettima, who is also the Chairman of PEBEC gave the charge at the PEBEC inaugural Regulators' Forum on Thursday, also urged enhanced transparency and efficiency among regulatory bodies in order to boost Nigeria's global competitiveness.
He urged heads of various Ministries, Departments, and Agencies (MDAs) to seize the opportunity provided by the forum to redefine the regulatory landscape in Nigeria.
According to a statement by Dr. Jumoke Oduwole, Special Adviser on PEBEC and Investment, the forum convened to enhance Nigeria's business climate, serves as a collaborative platform for regulatory agencies to tackle operational challenges and streamline processes affecting business operations.
Dr. Oduwole, further highlighted the forum's alignment with national economic objectives, stressing that a stable and transparent business environment is crucial for attracting investments and fostering economic growth.
The collaboration is expected to improve trust in regulatory practices, align them with international standards, and enhance perceptions of doing business in Nigeria.
The statement titled: 'VP Hosts First PEBEC Regulators' Forum; Implores Regulatory Agencies To Drive Transparency And Efficiency For Global Business Competitiveness' reads in part:
"The Presidential Enabling Business Environment Council (PEBEC) hosted its first PEBEC Regulators' Forum Thursday in Abuja.
"The Regulators' Forum is a collaborative platform for regulators in Nigeria, to address and resolve operational bottlenecks and regulatory challenges in doing business.
"The PEBEC Regulators' Forum (PRF) facilitated comprehensive discussions, decisions, and follow-up actions with participation from Heads of PEBEC priority Ministries, Departments, and Agencies (MDAs).
"In his remarks, His Excellency, Vice President Kashim Shettima charged the various Heads of MDAs to embrace this pivotal moment to shape Nigeria's regulatory future with a clear responsibility to drive the coordination, transparency, and global competitiveness necessary for Nigeria's economic transformation.
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"The Special Adviser to the President on PEBEC and Investment, Dr. Jumoke Oduwole shared key insights on the PEBEC Regulators' Forum alignment with national economic goals by providing a stable and transparent business environment, which is crucial for attracting investment and promoting economic growth.
"The expected impact of this collaboration between regulatory bodies will improve Nigeria's business climate, foster trust and transparency, align regulatory practices with global standards, and enhance the perception on the ease of doing business in Nigeria.
"The Presidential Enabling Business Environment Council (PEBEC) was established in July 2016 by the Federal Government to oversee Nigeria's business environment intervention with the dual mandate of removing bureaucratic and legislative constraints to doing business and improving the perception of the ease of doing business in Nigeria.
"The Council is chaired by His Excellency, Vice President Kashim Shettima GCON".
