Strat.1 Examine existing legislation and, where there are gaps, introduce reforms to encourage public-private partnerships for infrastructure development, investment projects and service delivery .
Strat.2 Enact laws that streamline business registration, make it quicker and more affordable, and reduce bureaucratic red tape .
Specific Legislative Actions
Strat.1 The 10th House of Representatives has actively engaged in examining and reforming legislation to encourage public-private partnerships (PPPs) for infrastructure development, investment projects, and service delivery. Notable legislative actions include:
1. Infrastructure Support Bill, 2023 (HB. 240)
(https://fmino.gov.ng/summary-of-plenary-proceedings-of-the-house-of-representatives-for-tuesday-july-25th-2023/?utm)
2. Funding for Mineral Resources Exploration and Extraction through PPP (HB. 289) (Second Reading).
(https://lightraymedia.org/2024/11/20/nigeria-national-assembly-plenary-proceedings-house-of-reps-wed-nov-20th-2024?utm)
Strat.2 The Nigeria Tax Reform Bills (passed for Third Reading)Nigeria Tax Bill, 2024 (HB.1759); Nigeria Tax Administration Bill, 2024 (HB.1756);
Nigeria Revenue Service (Establishment) Bill, 2024:
Joint Revenue Board (Establishment) Bill, 2024: (https://www.reuters.com/world/africa/nigerias-lower-house-parliament-passes-tax-reform-bills-with-some-tweaks-2025-03-13/)
Economic Restructuring
Not started
In progress
Completed
Implementation Strategies
Strat.1 Support economic diversification with a focus on reducing dependence on oil and increasing development in other sectors across Nigeria, such as mineral resource mining, manufacturing, agro- processing, textile, tourism and technology and general services .
Strat.2 Provide incentives on tax breaks to encourage innovations and for industries that have the potential for job creation and export growth .
Strat.3 • Use legislative measures to support the implementation of the African Continental Free Trade Agreement (AfCFTA) to open up markets and promote economic cooperation and growth .
Strat.4 Establish and strengthen legal frameworks that encourage Public Private Partnerships (PPP) in infrastructure development .
Specific Legislative Actions
Strat.1 "HB. 59) Nigerian Content (Non-Oil and Gas Sector) Development
(Establishment) Bill, 2023;
The Minerals and Mining Act (Amendment) Bill, 2023 (HB.813)
https://placng.org/i/wp-content/uploads/2023/11/House-of-Reps-order-paper-Wednesday-1st-November-2023.pdf?utm);
The Bill for Adequate Funding of Mineral Resources Exploration and Extraction through Public-Private Partnerships: HB.289:
(https://thenationonlineng.net/bill-seeking-funding-for-minerals-exploration-scales-second-reading/?utm)"
Strat.2 The Nigeria Tax Reform Bills (passed for Third Reading) will provide incentive on tax break and stimulate innovation, job creation, and export growth. (https://www.reuters.com/world/africa/nigerias-lower-house-parliament-passes-tax-reform-bills-with-some-tweaks-2025-03-13/)
Strat.3 N/A
Strat.4 Bill for Adequate Funding for Mineral Resources Exploration and Extraction through PPP (HB. 289):
On November 20, 2024, the House deliberated on this bill, which seeks to ensure sufficient funding for mineral resource exploration and extraction via PPP arrangements. (Passed second reading)
( https://lightraymedia.org/2024/11/20/nigeria-national-assembly-plenary-proceedings-house-of-reps-wed-nov-20th-2024?utm)
Economic Restructuring
Not started
In progress
Completed
Implementation Strategies (STRAT)
Strat.1 Legislate a comprehensive, long-term national infrastructure development plan covering transport, energy, ICT, and other key sectors .
Strat.2 Simplify the tax system, reducing multiple taxation and offering incentives for sectors critical to growth .
Strat.3 Enact laws that enhance the capital market’s transparency, liquidity, and depth to attract domestic and foreign investors .
Specific Legislative Actions
Strat.1 N/A
Strat.2 The ongoing tax reform.
(https://placng.org/Legist/understanding-the-tax-reform-bills/ https://wts.com/global/publishing-article/20250102-nigeria-navigating-the-future-key-tax-reforms-in-nigeria-for-2024-and-beyond~publishing-article)
Strat.3 This is ongoing. In December 2024, the House deliberated on a bill titled "A Bill for an Act to Establish the Investments and Securities Act, 2024," which aims to serve as the regulatory authority for the Nigerian capital market.
The bill was initroduced in the house on the 10th December, 2024 and has passed the first reading
(https://nass.gov.ng/documents/download/11170?utm)
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