Vice President Kashim Shettima has called on state governments to speed up reforms under a $750 million World Bank initiative. He spoke Tuesday at the Presidential Villa in Abuja during a stakeholders' meeting on the State Action on Business Enabling Reforms programme.
SABER will create a more predictable business climate and attract foreign investment, Shettima noted. According to him, the scheme will also drive economic growth across Nigeria's states.
The programme is designed to boost investor confidence significantly. It'll reduce business costs and expand both digital and physical infrastructure nationwide.
States will also gain improved access to land and better commercial justice systems. These reforms will make states more competitive in attracting businesses.
Shettima said the benefits don't stop there. Job creation, higher productivity, and increased internally generated revenue will follow implementation.
Living standards for ordinary Nigerians will improve as well. Economic activity across states is expected to surge under the programme.
To maximise gains, the Vice President instructed PEBEC Director-General Zarah Mustapha-Audu to extend SABER by an additional year. He believes full optimisation will support Nigeria's goal of becoming a $1 trillion economy.
Success depends on states becoming true investment hubs. President Bola Tinubu's economic reforms hinge on creating a business-friendly environment across the nation, Shettima stressed.
He urged all stakeholders to work together constructively. States must position themselves as engines of investment and sustainable development.
Minister of State for Budget and Economic Planning Dr Doris Uzoka-Anite also spoke at the meeting. She called for solutions to implementation challenges to ensure the programme succeeds.
Outcomes must align with the Renewed Hope Agenda. Officials remain committed to delivering the initiative's intended results.
