As part of efforts to encourage entrepreneurs, facilitate investments and move the nation’s economy out of recession , the federal government has said it is prepared to remove bureaucratic and other impediments to registering new businesses.
The Minister of Information and Culture, Alhaji Lai Mohammed, gave the assurance at the 2016 Tony Elumelu Foundation (TEF) Entrepreneurship Forum, held at the weekend in Lagos.
He said, ‘’To encourage entrepreneurs like you and also bring in more investments, the administration is delivering in its commitment on the ease of doing business.
‘’In fact, the president has approved the establishment of the Presidential Council on Ease of Doing Business, in order to remove unnecessary red tapes and other impediments, thereby facilitating registration of businesses, clearing of goods from the ports, obtaining visa, paying taxes and obtaining land titles, among others.”
The Minister, who was a panellist alongside President Ernest Bai Koroma of Sierra Leone, former Nigerian President Olusegun Obasanjo, former Prime Minister of Benin Lionel Zinsou and Africa’s richest woman Folorunso Alakija, said that the present administration is also taking measures to reduce fiscal and forex imbalances, boost dollar liquidity, curb inflation, lower interest rate and ensure lending to real sector.
Mohammed told the Forum, organised for the 1,000 budding entrepreneurs from across Africa under the TEF, that the administration inter- alia launched a 10 billion naira Youth Entrepreneurship Support (YES) project to empower youths with loans to start businesses, as part of the job-creation initiatives of the administration.
This he explained is expected to enhance the YES project expected to create about 36,000 jobs annually.
‘’With insecurity and corruption also being tackled decisively, the enabling environment is being created for businesses to thrive in the country. We hope, when the time is ripe, young entrepreneurs like you will take advantage of these opportunities,’’ he said