VP Decries Bureaucracy, Seeks Synergy Among Regulatory Agencies

…Leads Nigeria’s Delegation To 79th UNGA

Abuja – Vice President Kashim Shettima has charged regulatory agencies to eliminate overlaps and align their actions with President Bola Ahmed Tinubu’s agenda for eco­nomic growth and improved ease of doing business in Nigeria.

The vice president said the administration of President Bola Tinubu remains committed to streamlining the regulatory en­vironment in Nigeria.

This, the vice president said, is crucial in driving the coordi­nation, transparency and global competitiveness required for the nation’s economic transforma­tion.

Senator Shettima stated this on Thursday during the Presidential Enabling Business Environment Council (PEBEC) Regulators’ Forum to build an ef­fective Regulatory Impact Frame­work (RIA) for Nigeria held at the Presidential Villa, Abuja.

According to him, the admin­istration’s journey towards a “regulatory system built on trust, consistency, and collaboration is ongoing, and it is a journey that requires all and sundry to remain committed.”

The vice president implored the government regulators to be “willing to reinvent processes and innovate, guiding Nigeria to­wards a future where we are not economically disadvantaged but positioned to thrive.

“Our duty to the private sector is clear: to listen, process their concerns, and develop solu­tions that drive growth. In recent months, there have been pockets of complaints regarding certain directives from our regulatory agencies. I have personally in­tervened on several occasions to ensure we are not hampered by conflict, but instead move for­ward with unity and purpose,” he added.

Underscoring the importance of streamlining the regulatory system, the VP said, “The success of this forum today does not solely depend on our ability to collabo­rate, share knowledge, and align our regulatory actions with the broader national agenda.

“It also depends on our ca­pacity to recognise and address criticisms and shortcomings, while striving for a nation that does not feel like a battlefield for businesses, but a place where in­vestors can thrive without fear of unnecessary hurdles.”

VP Shettima charged the regu­lators to heed President Tinubu’s call to action, noting that the pres­ident envisions a country where regulatory excellence drives eco­nomic growth, attracts invest­ment, and ultimately improves the quality of life for all citizens.

He continued: “Time and again, President Bola Ahmed Tinubu has reassured the busi­ness community of his commit­ment to easing any bottlenecks they may encounter, and each regulator here must adopt the same mindset in their dealings with private enterprises.

“The work of PEBEC, partic­ularly through initiatives like the Regulatory Reform Accelerator, has been pivotal in reducing the obstacles faced by businesses.

“Today’s forum offers an un­paralleled opportunity to address these issues head-on and chart a new course towards regulatory cohesion. This is not merely an event – it is a defining moment for us to reflect on the duties we owe our nation.”

On the task ahead, Senator Shettima urged participants at the meeting to recognise the gravity of their role as regulators.

Earlier in his remarks, the Deputy Chief of Staff to the Presi­dent (Office of the Vice President), Senator Ibrahim Hadejia outlined PEBEC’s 2024 outlook highlight­ing Nigeria’s business and invest­ment climate reforms through its five strategic pillars, comprising regulatory, judicial and legislative reforms, among others.

He said deliberations and actions at the forum would be aligned with national economic goals that can make Nigeria a more attractive destination for business and investment.

Also, Special Adviser to the President on Presidential En­abling Business Environment Council (PEBEC) and Invest­ment, Dr. Jumoke Oduwole, noted that regulators must act as enablers, evolving to support and nurture the very ecosystem they oversee.

Shettima To Lead Nigeria’s Delegation To 79th UNGA

Meanwhile, President Bola Tinubu will not attend the 79th United Nations General Assem­bly session in New York, this year, the presidency has confirmed.

The president has however directed Vice President Kashim Shettima to lead Nigeria’s delega­tion to UNGA.

Bayo Onanuga, Special Ad­viser on Information and Strat­egy to the President, explained that his principal who returned to the country last Sunday after his trip to China and the United Kingdom, wants to focus on do­mestic issues and address some of the country’s challenges, espe­cially after the recent devastating flooding.

He said at UNGA 79, Vice President Shettima will deliver Nigeria’s national statement to the General Assembly, attend important sideline events, and hold bilateral meetings.

Onanuga also noted that the high-level General Debate, with the theme, ‘Leaving no one be­hind: Acting together for the ad­vancement of peace, sustainable development and human digni­ty for present and future gener­ations,’ will run from Tuesday, September 24, through Saturday, September 28, 2024.

Prior to the official statement coming from the presidency, there had been speculations that the pres­ident may not attend owing to press­ing national issues plaguing the country, especially the fuel crisis.