The Minister of State for Industry, Trade, and Investment, John Enoh, has reaffirmed the government’s commitment to improving the ease of doing business, ensuring regulatory stability, and fostering strategic alliances to boost Nigeria’s economic competitiveness.
He made this known at the Renewed Hope Global Virtual Conference 2025, where he emphasized the administration’s focus on streamlining business operations, reducing bottlenecks, and enhancing investor confidence.
Enoh highlighted the role of the Presidential Enabling Business Environment Council (PEBEC) in driving reforms aimed at simplifying business processes.
“The PEBEC, previously chaired by the Minister of Trade and Investment, Dr Jumoke Oduwole, plays a crucial role in improving the business climate.
“The President has recently appointed a new head to continue this important work.
“Government policies are continuously evolving to ensure Nigeria remains competitive within the sub-region, the continent, and the global economy.
“While we have not achieved everything yet, the goal is clear: to create a business environment that supports industrial growth, attracts investment, and enhances job creation,” he said.
The minister stressed the importance of policy predictability and regulatory transparency in maintaining investor confidence.
“Investors need assurance that today’s regulations will remain consistent or, if changes occur, they will be clearly communicated in advance.
“The government is fully aware of this and is working towards ensuring a stable business climate,” he said.
Acknowledging past challenges faced by businesses, Enoh reassured that under President Bola Tinubu’s administration, measures are being implemented to ensure agencies are held accountable and bureaucratic delays are addressed.
“I understand the frustrations caused by procedural delays, but that is precisely why PEBEC and other regulatory agencies exist—to remove obstacles and facilitate smoother business operations,” he said.
He also emphasized the need for synergy and collaboration between government agencies to eliminate inefficiencies.
“A lot of agencies have operated in silos, but once everyone understands that we are working for the common good of Nigeria, achieving our economic objectives becomes much easier,” he said.
Additionally, the minister announced an upcoming partnership between the government and First City Monument Bank (FCMB) to improve access to finance for small businesses.
“In our meeting yesterday, I emphasised that this collaboration must offer something unique.
“It should not be solely driven by profit motives but must align with the government’s vision to support businesses at reasonable costs,” he said.
Enoh assured that the administration was taking concrete steps to address business concerns and enhance Nigeria’s global competitiveness.
