By Seun Ibiyemi
Vice President Kashim Shettima has called on state governments to accelerate business-enabling reforms to fully unlock the opportunities provided under the $750 million World Bank-assisted State Action on Business Enabling Reforms (SABER) programme.
Shettima said the reforms are critical to attracting domestic and foreign investments, improving infrastructure, enhancing private sector confidence and driving economic growth at the subnational level.
The Vice President made the call on Tuesday during a stakeholder meeting on optimising the implementation of the SABER programme held at the Presidential Villa in Abuja.
According to him, effective implementation of the programme would help create a more transparent, predictable and investor-friendly business environment across the country.
He noted that the initiative has the potential to reduce the cost of doing business, strengthen commercial justice systems, improve access to land, expand digital and physical infrastructure, and enhance the competitiveness of states.
“These outcomes will translate into increased economic activity, higher productivity, job creation, improved internally generated revenue, and better living standards for our citizens,” Shettima said.
The Vice President directed the Director-General of the Presidential Enabling Business Environment Council (PEBEC), Zarah Mustapha-Audu, to begin the process of seeking a one-year extension of the programme to enable states maximise available opportunities and meet implementation targets.
He said optimising the SABER programme would significantly support Nigeria’s ambition of building a one trillion-dollar economy by creating an environment that encourages investment and enterprise development.
“I therefore encourage us to engage constructively and contribute meaningfully to our deliberations. Let us seize this opportunity to unlock the full potential of the SABER Programme and position our states as engines of economic growth, investment and sustainable development,” he stated.
Shettima linked the success of the economic reforms being implemented by President Bola Ahmed Tinubu’s administration to the ability of governments at all levels to provide a conducive environment for businesses to thrive.
He observed that while the Federal Government continues to implement broad economic reforms, many of the factors that shape investors’ experiences are controlled at the state level.
“As a nation, we have embarked on a bold economic reform agenda under the leadership of President Bola Ahmed Tinubu. The success of this agenda depends significantly on our ability to create an enabling environment for businesses to invest, expand and create jobs,” he said.
The Vice President stressed that the active participation of state governments remains essential to achieving the objectives of the programme and improving Nigeria’s overall investment climate.
Earlier, the Minister of State for Budget and Economic Planning, Dr. Doris Uzoka-Anite, urged stakeholders to address implementation challenges and ensure that the programme delivers its intended benefits.
She expressed confidence that states would be able to fully access the performance-based intervention package designed by the World Bank in collaboration with PEBEC.
Uzoka-Anite noted that the initiative aligns with the Tinubu administration’s Renewed Hope Agenda and is expected to strengthen economic development and improve the ease of doing business across the country.
In her presentation, the Director-General of PEBEC, Zarah Mustapha-Audu, said the council remains committed to eliminating bureaucratic bottlenecks that hinder investment and economic activities.
She explained that PEBEC continues to collaborate with government institutions, civil society organisations, private sector operators and other stakeholders to ensure the successful implementation of the programme.
According to her, although disbursements under the SABER programme are tied to specific performance indicators, participating states are making steady progress toward meeting the required benchmarks.
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Mustapha-Audu expressed optimism that continued collaboration among stakeholders would accelerate reforms and enable states to access available funding under the programme.
The SABER initiative is a performance-based programme supported by the World Bank to help state governments implement reforms that improve the business environment, strengthen governance and stimulate private sector-led economic growth.
Economic experts have identified business environment reforms as a critical component of Nigeria’s strategy to attract investment, create jobs and achieve sustainable economic expansion.
