Prioritising Ease of Doing Business

The efficiency of government in running business has been proven to be low. Supporting private enterprise and encouraging private initiatives as key drivers of development is the direction to go. A key element in achieving this is support for the existence of a conducive environment for the thriving of private business initiatives. Accordingly, the Senate will do the following:

1. Review existing laws that hamper business registration and take steps to improve efficiency and eliminate bureaucratic red tape.
2. Reform Nigeria’s tax regime in a manner that encourages innovation, start-ups and new businesses that have the potential to create employment and export growth
3. ii. Use legislative instruments of law-making and oversight to curtail the excesses and arbitrariness of government agencies, including policies and actions that impact on the ease of doing business in Nigeria.
4. Enact laws that support a more transparent, well-funded and robust capital market to make the market more attractive to domestic and international investors
5. Streamline legislation impacting on Nigeria’s taxation system, with a view to eliminating multiple taxation and providing
   incentives for sectors critical to national development and growth.
6. Set up special economic zones with attractive incentives to draw in international investors.
7. Enact laws that protect foreign investors, ensuring that their investments are safe and guaranteeing repatriation of profits