The Federal Government has restated its commitment to removing the bureaucratic and other impediments to registering new businesses as part of efforts to encourage entrepreneurs and facilitate investments in the country.
Minister of Information and Culture, Alhaji Lai Mohammed, gave the assurance on Saturday at the 2016 Tony Elumelu Foundation (TEF) Entrepreneurship Forum in Lagos.
”To encourage entrepreneurs like you and also bring in more
investments, the Administration is delivering in its commitment on the ease of doing business.
”In fact, the President has approved the establishment of the
Presidential Council on Ease of Doing Business, in order to remove
unnecessary red tapes and other impediments, thereby facilitating
registration of businesses, clearing of goods from the ports,
obtaining visa, paying taxes and obtaining land titles, among
others,” the Minister told the Forum, where he was panellist
alongside President Ernest Bai Koroma of Sierra Leone, former Nigerian
President Olusegun Obasanjo, former Prime Minister of Benin Lionel
Zinsou and Africa’s richest woman Folorunso Alakija.
He said present Administration is also taking measures to reduce
fiscal and forex imbalances, boost dollar liquidity, curb inflation,
lower interest rate and ensure lending to real sector.
Mohammed also told the Forum, organised for the 1,000 budding
entrepreneurs from across Africa under the TEF, that earlier this
year, the Administration launched a 10 billion Naira Youth
Entrepreneurship Support (YES) project to empower youths with loans to
start businesses, as part of the job-creation initiatives of the
Administration. It is expected that the YES project will create about
36,000 jobs annually.
”With insecurity and corruption also being tackled decisively, the
enabling environment is being created for businesses to thrive in the
country. We hope, when the time is ripe, young entrepreneurs like you
will take advantage of these opportunities,” he said.
The Minister said the Administration is moving the country away from a
mono-product economy to a diversified one, and in the process opening
up great opportunities for businesses.
”With the crash in oil prices, which has negatively impacted on our
economy, we are left with no choice but to explore new possibilities.
The areas we are targeting include agriculture, solid minerals and the
creative industries. We are also engaging in massive infrastructural
development.
The Minister congratulated the 2016 Tony Elumelu Foundation Entrepreneurs, saying the fact that they all emerged after going through a rigorous selection process speaks to their determination and passion to succeed.
The 2016 TEF Entrepreneurship Forum is the second annual round of the US$100 million Tony Elumelu Entrepreneurship Programme (TEEP) for emerging African entrepreneurs.
