FG to End Multiple Fees, Duplicate Regulations Frustrating Businesses – Oyedele<\/p>\n
The Federal Government has unveiled plans to eliminate multiple fees, duplicate requirements and overlapping regulations frustrating businesses in Nigeria.<\/p>\n
The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, disclosed this at a strategic meeting with heads of agencies and senior officials at the Ministry’s headquarters in Abuja.<\/p>\n
Oyedele said while government has made progress on macroeconomic stabilisation, businesses still face daily frustrations dealing with government agencies, a trend the current reforms seek to reverse.<\/p>\n
In a statement by Efe Ovuakporie, Head of Information and Public Relations at the Ministry, the Minister stressed that agencies must make it easier, not harder, for businesses to operate, invest and expand.<\/p>\n
To achieve this, he directed MDAs to operate strictly within their statutory mandates and end practices that raise the cost of doing business, including multiple levies, conflicting demands and unnecessary procedures.<\/p>\n
He announced a “One Government” approach where agencies will be required to coordinate, with overlapping mandates resolved through a single lead agency, one process and one fee.<\/p>\n
Oyedele also warned against introducing new regulations without stakeholder consultation, assessment of economic impact and reasonable notice to the public.<\/p>\n
On fiscal discipline, he directed agencies to remit all revenues due to government promptly and in full, transfer operating surpluses to the Consolidated Revenue Fund and submit audited accounts as required by law.<\/p>\n
The Minister stated further that agency performance would now be judged by measurable results, including speed of service delivery, compliance with published timelines and reduction in regulatory costs for businesses.<\/p>\n
He added that the Ministry of Finance itself would be held to the same standards, acknowledging internal bottlenecks such as slow approvals, delayed releases and outdated rules.<\/p>\n
The Ministry will review submissions from agencies and provide feedback within four to six weeks, with each agency expected to commit to measurable service targets to be reviewed periodically.<\/p>\n","protected":false},"excerpt":{"rendered":"
FG to End Multiple Fees, Duplicate Regulations Frustrating Businesses – Oyedele The Federal Government has unveiled plans to eliminate multiple fees, duplicate requirements and overlapping regulations frustrating businesses in Nigeria. The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, disclosed this at a strategic meeting with heads of agencies and senior […]<\/p>\n","protected":false},"author":4,"featured_media":152741,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-152740","post","type-post","status-publish","format-standard","has-post-thumbnail","category-others"],"yoast_head":"\n