President Muhammadu Buhari signs into law the Comapnies and Allied Matters Act (CAMA) 2020
The new CAMA is Nigeria's most significant business legislation in three decades
Micro, small and medium enterprises (MSMEs) make up more than 90% of all registered businesses in Nigeria. These MSMEs provide about 84% of jobs and contribute just under 50% to the GDP of the economy. However, these businesses face multiple challenges that hinder their contribution to inclusive growth.
The Presidential Enabling Business Environment Council (PEBEC) was established to remove the bureaucratic constraints and bottlenecks to doing business in Nigeria with a view to reducing the:
in starting and running a business, and increase efficiency.
The PEBEC’s model is in line with global best practice and includes a strong performance tracking element measured by the World Bank Ease of Doing Business Index (DBI).
Since inception, Nigeria moved up 39 places to 131st place (out of 190) in the 2019/20 report
In the same period, Nigeria’s ease of doing business score improved by over 8.5 basis points.
32 Nigerian states improved their ease of doing business environment led by Kaduna, Enugu, Abia, Lagos and Anambra States
An independent Ease of Doing Business (EoDB) survey adjudged Nigeria's reforms as impactful in terms of reduction in time, cost and procedures of doing business.
Scroll to see our ease of doing business focus areas
President Muhammadu Buhari signed into law the Companies and Allied Matters Act (CAMA) on August 7, 2020. The new CAMA is Nigeria’s most significant business legislation in three decades and it introduces new provisions that promotes ease of doing business and reduces regulatory hurdles
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