October 4, 2023

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Rep Passes Bill to Straighten MSME Sector

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CEM REPORT, MSME | To create a friendly business environment in the country the House of Representatives has passed the Business Facilitation Bill 2022 (Omnibus Bill).

According to the Presidential Enabling Business Environment Council (PEBEC), the passage of the bill will facilitate the Micro, Small and Medium Enterprises ecosystem.

PEBEC Secretary and the Special Adviser to the President on Ease of doing business  Jumoke Oduwole noted that the bill will consolidate and amend outdated legislative provisions towards removing bottlenecks for small businesses.

“The Business Facilitation (Miscellaneous Provision) Bill 2022, also known as the “Omnibus Bill”, has been passed by the 9th House of Representatives.

“The Omnibus Bill is an intervention of the Presidential Enabling Business Environment Council (PEBEC) aimed at consolidating and amending outdated legislative provisions towards removing bottlenecks for micro, small and medium enterprises.

“The Bill also seeks to ensure the sustainability of business climate reforms through the promotion of Transparency and Efficiency in government.

“A culmination of four years of collaborative work by public and private sector stakeholders in the legal community, stakeholders are eagerly looking forward to the speedy passage of the Bill by the Senate.

”They also look forward to its signing into law by President Muhammadu Buhari in order to reap the attendant benefits for the Nigerian economy.”

 

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