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Osinbajo to regulatory agencies: Nigerians are enterprising… support their hustle

Osinbajo to regulatory agencies: Nigerians are enterprising… support their hustle
December 13
21:10 2021

Vice-President Yemi Osinbajo has asked federal government agencies to create a conducive environment to enable Nigerian businesses thrive.

Osinbajo said this on Monday during the Micro, Small and Medium Enterprises (MSME) clinics stakeholders’ review meeting held at the presidential villa.

In a statement, Laolu Akande, spokesperson to the vice-president, said the event was attended by representatives of agencies including the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Bank of Industry (BOI), Nigerian Export-Import Bank (NEXIM), Bank of Agriculture (BOA), Standards Organisation of Nigeria (SON), Federal Inland Revenue Service (FIRS), National Agency for Food and Drug Administration and Control (NAFDAC), among others.

“Everybody knows that Nigerians are enterprising. Practically every Nigerian has some kind of business, as they say, some hustle or some other things that they are doing,” Osinbajo was quoted as saying.

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“People need the right environment and that is what our role is, to ensure that we understand that it is to facilitate and make it easier, not to become a stumbling block or a tollgate.

“This is a country where people want and desire to work. Our creativity and innovation must be first and foremost to remove the obstacles; that is what will solve Nigeria’s problems — implementation of the grand policies that we have — and it depends on us.”

The VP expressed concern over the reports that some Nigerians take up to three years to secure company registration, adding that he was told the same registration takes six weeks in other African countries.

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As such, he urged regulatory agencies to step up efforts to ensure investment-friendly environments for business owners.

Some of those present at the meeting include Olukayode Pitan, managing director of Bank of Industry; Ezra Yakusak, executive director of Nigerian Export Promotion Council; Dikko Umaru Radda, director-general of SMEDAN; Abba Bello, managing director of NEXIM Bank and Tony Okpanachi, managing director of Development Bank of Nigeria.

Others are Farouk Salim, director-general of Standards Organisation of Nigeria; Alwan Ali Hassan, managing director of Bank of Agriculture.

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