The reforms advanced by the PEBEC derive from the quest to build a competitive economy - one of the three pillars of the Administration’s Economic Recovery and Growth Plan (ERGP). The reforms are structured to ultimately reduce the cost and time it takes to complete business processes in Nigeria.
The Enabling Business Environment Secretariat (EBES) works with MDAs to implement reforms mandated by the Council. The PEBEC provides quarterly updates to the Federal Executive Council (FEC). The Agenda is based on 10 key Indicators.
STARTING A BUSINESS: Number of days required to start a business from 10 to 1
GETTING CREDIT: Borrowers now have the right to access Credit Report data.
CONSTRUCTION PERMITS: Reduced the days for obtaining development permits from LASSPA from 61 days to 30 days.
REGISTERING A PROPERTY: Reduction in time to get governor's consent by 50%
TRADING ACROSS BORDERS: Export documentation process reduces from 7 days to 30 minutes
ENTRY & EXIT OF PEOPLE: NIS has harmonised four forms on arrival into one form, in line with global standards.
PAYING TAXES: Preparation, filing & payment of Company Income Tax reduced from 2 weeks to 8 hours
From July 2017, PEBEC accelerated and expanded this initiative by focusing on additional areas such as Trading within Nigeria, Selling to the Government and Enforcing Contracts.