TTHE WORLD BANK BOARD APPROVES $750M TO STRENGTHEN BUSINESS ENABLING ENVIRONMENT IN STATES

Thursday, 29 September, 2022

On 29 September 2022, the World Bank Board approved $750m to strengthen Business Enabling Environment in States through the State Action for Business Enabling Reforms (SABER) programme. The SABER is a 3-year performance-based intervention jointly designed by the PEBEC Secretariat and the World Bank Technical team with support from the Federal Ministry of Finance, Budget and National Planning (FMFBNP) Home Finance Department and the Nigeria Governors’ Forum (NGF) Secretariat.

The programme, which is open to all States and the FCT, cuts across four reform areas with Disbursement Linked Indicators covering improving land administration and land investment process; improving business enabling infrastructure; increasing sustainable large-scale investments; and enabling firm operations. All participating states and the FCT could potentially receive a maximum of $52.5m during the 3-year period. There have been extensive engagements with the States by the PEBEC Secretariat and other programme partners to strengthen the programme design and the States capacity to deliver on the expected results.

The PEBEC was established in July 2016 by President Muhammadu Buhari to remove critical bottlenecks and bureaucratic constraints to doing business in Nigeria. His Excellency the Vice President, Professor Osinbajo SAN, GCON, is Chair of the Council.

Signed:

Dr. Jumoke Oduwole

Senior Special Assistant to the President on Industry, Trade and Investment (OVP) /Secretary, Presidential Enabling Business Environment Council

Sign Up for Our Newsletter

Subscribe to get the latest updates on the ease of doing business reforms in Nigeria as well as tips on starting and growing your business.