The 2024 Half-Year Report on Ease of Doing Business in Nigeria: A Spotlight on Efficiency and Transparency
The Presidential Enabling Business Environment Council (PEBEC) has unveiled the 2024 Half-Year report, highlighting transparency and efficiency compliance in Nigeria’s business environment. Despite challenges faced by businesses amidst ongoing reforms, the report remains optimistic about significant improvements in the business climate.
The report emphasized the importance of sustained economic growth driven by enhanced productivity across various sectors as a solution to current economic challenges. Notably, the number of ministries, departments, and agencies (MDAs) scoring above 50% in efficiency compliance has increased from 8 to 20 in 2024.
Key findings revealed that the Regulatory Reform Accelerator (RRA) significantly influenced MDA performance. Leading MDAs include the Nigerian Content Development Management Board (NCDMB), Standards Organization of Nigeria (SON), and Nigeria Agricultural Quarantine Service (NAQS).
Dr. Jumoke Oduwole, Special Adviser to the President on PEBEC & Investment, emphasized the importance of high-quality service delivery for enhancing Nigeria’s business environment competitiveness. The report underscores the need for continuous improvement in MDA service delivery despite global uncertainties and rapid changes.