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The novel Business Facilitation (Miscellaneous Provision) Bill 2022, also known as the Omnibus Bill, has been transmitted to President Muhammadu Buhari for assent.
The Executive Bill was passed by the House of Representatives in October 2022 and by the Senate in December 2022.
This was disclosed by the Special Adviser to the President, Ease of Doing Business/PEBEC Secretary, Dr. Jumoke Oduwole in a statement issued in Abuja.
She explained that the Business Facilitation Bill aims to codify Executive Order 001 (EO1) on Transparency and Efficiency in Public Service Delivery, amend select business facilitation laws identified as critical to the ease of doing business in Nigeria, and institutionalise business climate reforms.
“The bill is designed to strengthen ongoing reforms and consolidate legislative provisions that border on ease of doing business in Nigeria,” she said.
She noted that the transmitted bill is a culmination of 4 years of collaboration of public and private sector stakeholders since 2018, including the Federal Ministry of Justice (FMoJ), the Section on Business Law of the Nigerian Bar Association 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).
“The Omnibus bill is an intervention of the Presidential Enabling Business Environment Council (PEBEC) to consolidate and amend legislative provisions towards deepening PEBEC reforms and removing bottlenecks for Micro, Small, and Medium-sized Enterprises (MSMEs) in Nigeria,” she noted.
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