President Muhammadu Buhari have signed the Business Facilitation (Miscellaneous Provision) Bill 2022 also known as the Omnibus Bill into law.

Dr Jumoke Oduwole, Special Adviser to the President on Ease of Doing Business and Secretary, Presidential Enabling Business Environment Council (PEBEC) said this in a statement on Friday in Abuja.

According to Oduwole, the bill will aid the ease of doing business for small business owners in the country.

“This marks an important step in the delivery of an enabling environment for micro, small and medium-sized enterprises (MSMEs) in Nigeria.

“Presented as an Executive Bill, the Business Facilitation (Miscellaneous Provision) Act, 2023 is a legislative intervention by the PEBEC which amends 21 business related laws.

“It removes bureaucratic constraints to doing business in Nigeria.

“The new law also codifies the Executive Order 001 on Transparency and Efficiency in Public Service Delivery, the Administration’s first executive order, aimed at strengthening ease of doing business reforms across the country,” she said.

Oduwole said that “The PEBEC Secretariat is extremely grateful to see this Act come into fruition”.

According to her, it is a culmination of over four years of collaboration between public and private sector stakeholders.

“This includes the Federal Ministry of Justice, the Nigeria Bar Association Section on Business Law through the participation of over 40 law firms and consulting firms.

“The Nigerian Economic Summit Group (NESG), and the National Assembly Business Environment Roundtable (NASSBER) are also part of the team,” she said.

The PEBEC secretary said the Business Facilitation Act, 2023 consolidates the last seven years of PEBEC-led reforms.

Oduwole said it also demonstrated the Administration’s sustained commitment towards making Nigeria a progressively easier place to start and grow a business.