ABUJA —THE Presidential Committee on Ease of Doing Business
has slashed deadline for registration of new businesses from 10
to two days and effected a 24-hour timeline for registration of
President Muhammadu Buhari
This takes effect from when an application form is completed
and all required documents made available.
Similarly, it stated that all prospective business owners could
now search on Corporate Affairs Commission, CAC, portal
(www.cac.gov.ng ) to avoid duplication of names and prevent selection of prohibited names, while company registration no longer requires lawyers.
According to the committee, it is now optional for Small and
Medium Enterprises, SMEs, to hire lawyers to prepare
These were among the highlights of a report presented at a
Presidential Enabling Business Environment Council, PEBEC, at
yesterday’s meeting held at the Presidential Villa, Abuja.
The meeting, which marked the end of the 60-day Action Plan on
Ease of Doing Business in Nigeria reforms, was chaired by
Minister of Transportation, Mr. Chibuike Amaechi, at the
instance of Vice President Yemi Osinbajo, who was engaged
with the work of the Presidential Investigative Panel.
Other ministers at the meeting included Foreign Affairs Minister,
Geoffrey Onyeama; Minister of State for Industry Trade &
Investment, Aisha Abubakar, and her counterpart in Budget and
National Planning, Zainab Ahmed.
Other government dignitaries at the meeting includedHead of
Service, Mrs Winifred Oyo-Ita, and several heads of MDAs.
The report which was presented by Dr. Jumoke Oduwole, Senior
Special Assistant to the President on Trade & Investment
indicated that “CAC has introduced single incorporation form
(CAC1.1) to save time and reduce costs, while the agency has
introduced document upload interface on its website to enable
e-submission of registration documents.”
Other aspects of the reforms actualized in the last 60 days
included the Integrated FIRS e-payment solution into CAC portal
to enable e-stamping while the reform empowers CAC internal
lawyers to certify company incorporation forms and conduct
statutory declaration of compliance for a fixed fee of N500.
The report also listed dealing with construction permits, getting
electricity, registering property, getting credit and paying taxes,
as some of the areas where the council has recorded progress
in the past 60 days.
It also highlighted the completed reforms on the “Entry and Exit
of People,” indicator which includes Simplified Visa-on-Arrival
process, infrastructural improvements at Abuja airport, and the
new Immigration Regulation 2017.
It further indicated that the completed reforms were being
closely monitored to ensure diligent implementation with
minimal disruption, while pending reforms were being escalated
to ensure completion in the coming weeks.
On Trading across Borders, some of the completed reforms
include palletisation of imports, advanced cargo manifests,
reduction in documentation requirements and scheduling of
Joint Physical Examination by the Customs Service.
The National Action Plan contained initiatives and actions
implemented by responsible Ministries, Departments and
Agencies, MDAs, the National Assembly, a number of state
governments, as well as some private sector stakeholders.
The council emphasised that with the conclusion of
implementation of the Action Plan, the next phase would involve
“deepening existing reforms; completing and implementing
pending initiatives; engaging with the public; validating
completed reforms and kicking-off medium-term reforms.”
The council would also kick-start “sub-national reforms across
Nigeria’s 36 states; trading within Nigeria; kick-off of initiatives
and reforms improving business processes and regulations
within Nigeria; and ease of movement of goods within and
across regions in Nigeria.”
Speaking to State House correspondents at the end of the
meeting, Ameachi said 15 of 22 reforms had been taken, adding
that the committee would conclude its work on or before June.
“This is the meeting of the Presidential Council on the Ease of
We met and we looked at 22 reform items. we have met 70
percent of them. We have done 15 out of 22 and the rest we
think we can complete it before June.
‘’ We looked at Land registry in states where we are using as
pilot; FAAN entry and exit. You have seen the development at
Abuja airport. From Abuja, we are going to lagos airport and
other airports in the country.
“The vice president is very busy. After sometime, he asked me
to chair the meeting. I will go upstairs to brief him,” Amaechi