Abuja, Nov. 17, 2023: Vice President Kashim Shettima on Thursday inaugurated the 3rd Cohort of the Presidential Enabling Business Environment Council (PEBEC).<\/p>\n\n\n\n
In his remark at the council\u2019s inaugural meeting held at the Presidential Villa, Abuja, Shettima urged its members to be 100 per cent committed to promoting a conducive business environment in the country.<\/p>\n\n\n\n
He also implored members of the council to align themselves effortlessly with the 8-point Renewed Hope agenda of President Bola Tinubu\u2019s administration.<\/p>\n\n\n\n
This, according to him, will directly reflect the strong political will behind the transformative initiatives of Tinubu-led government.<\/p>\n\n\n\n
\u201d Aligning seamlessly with the vision of His Excellency, President Bola Tinubu and 8-point Renewed Hope agenda of this administration.<\/p>\n\n\n\n
\u201d Our commitment to fostering a conducive business environment is a direct reflection of the strong political will driving the transformative initiatives of this government.<\/p>\n\n\n\n
\u201d Today, we stand on a robust foundation, and we recognise that achieving PEBEC\u2019s mandate directly contributes to the success of our shared economic prosperity as a nation.<\/p>\n\n\n\n
\u201d Undoubtedly, reforms are formidable undertakings, particularly in our region. However, history has proven that they are achievable, and we draw inspiration from past successes.<\/p>\n\n\n\n
\u201d As a council, our dedication to these reforms must be unwavering, and each member must take ownership of this mission with 100 per cent commitment.\u201d<\/p>\n\n\n\n
Similarly Shettima urged members of the council to be diligent for the overall success of the Tinubu administration.<\/p>\n\n\n\n
He noted that teamwork and shared commitment are the right attitudes required to actualise the transformative impact that PEBEC could bring to Nigeria\u2019s business environment.<\/p>\n\n\n\n
\u201d Today, as we confront these difficulties head-on, our goal is not merely to weather the storm but to create more winners, enterprises that not only withstand challenges but thrive and contribute substantially to our economic vitality.\u201d<\/p>\n\n\n\n
Shettima explained that the PEBEC was an enabler for the Ministries Departments and Agencies (MDAs) in government.<\/p>\n\n\n\n
\u201d Our role, therefore, calls for a unified and collaborative effort across the council and MDAs.<\/p>\n\n\n\n
\u201d Reforms require a collective commitment, and success will be a shared triumph, resonating not only within our council but throughout the nation.\u201d<\/p>\n\n\n\n
He recalled that emerging markets, particularly in Africa, were slowed down in the face of global economic challenges occasioned by the disruptions of the COVID-19 pandemic.<\/p>\n\n\n\n
\u201d Heightened geopolitical tensions in the West African Sahel, coupled with concerns about national debt sustainability, contributed to a slowdown in Sub-Saharan Africa\u2019s economic growth to 3.6 per cent in 2022.<\/p>\n\n\n\n
\u201d Nigeria, as the largest economy in Africa, experienced a significant economic slowdown over the past decade.<\/p>\n\n\n\n
\u201d For instance, by the end of the last decade, Africa\u2019s GDP was $400 billion less than what experts predicted it to be.<\/p>\n\n\n\n
\u201d Nigeria alone accounted for $140 billion (or 37 per cent ) of this unrealised GDP gain,\u201d he added.<\/p>\n\n\n\n
Shettima, however, expressed optimism that Nigeria has remained steadfast in navigating the challenges through its commitment to economic revival and growth at both the national and continental levels.<\/p>\n\n\n\n
According to him, with 2023 businesses are generating over $1 billion in revenue.<\/p>\n\n\n\n
\u201d Furthermore, amidst the economic challenges, it is with great pride and optimism that we acknowledge the remarkable resilience of the Nigerian business landscape.<\/p>\n\n\n\n
\u201d Currently, our nation boasts 23 businesses generating over $1 billion in revenue, a testament to the entrepreneurial spirit and economic prowess within our borders,\u201d he noted.<\/p>\n\n\n\n
Shettima underscored the need to consider them as the beginning of Nigeria\u2019s potential.<\/p>\n\n\n\n
He maintained that all hands must be on deck to foster the growth of more businesses of such calibre.<\/p>\n\n\n\n
\u201cCreating an environment conducive to the emergence and sustenance of high-value enterprises is the true litmus test of the collective endeavors we put into reforming and expanding our economy.<\/p>\n\n\n\n
\u201d Our commitment should extend beyond overcoming challenges; it should drive us to cultivate an ecosystem where innovation, investment and entrepreneurship thrive.\u201d<\/p>\n\n\n\n
Earlier, Special Adviser to the President on PEBEC and Investment, Dr Jumoke Oduwole, had said that PEBEC\u2019s mandate was to deliver Nigeria\u2019s business environment reform.<\/p>\n\n\n\n
\u201d With the dual mandate to remove bureaucratic and legislative constraints to doing business and improve the perception about the ease of doing business in Nigeria.<\/p>\n\n\n\n
\u201d PEBEC\u2019s model aligns with global best practices and includes a strong performance tracking element that ensures MDAs are accountable for reform implementation,\u201d she said.<\/p>\n\n\n","protected":false},"excerpt":{"rendered":"
Abuja, Nov. 17, 2023: Vice President Kashim Shettima on Thursday inaugurated the 3rd Cohort of the Presidential Enabling Business Environment Council (PEBEC). In his remark at the council\u2019s inaugural meeting held at the Presidential Villa, Abuja, Shettima urged its members to be 100 per cent committed to promoting a conducive business environment in the country. […]<\/p>\n","protected":false},"author":2,"featured_media":54195,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[949],"tags":[1244],"class_list":["post-54194","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-pebec","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\n