The Oyo State government and the Presidential Enabling Business Environment Council (PEBEC) have reiterated their commitment to fostering a more robust investor friendly in the State and Nigeria at large.
This was revealed on Saturday at the State Action on Business-enabling Reforms (SABER) Technical Session and Statewide Town Hall Meeting held at Western Hall, Parliament Building, as part of PEBEC nationwide tour to strengthen subnational business reforms.
Speaking at the event, the Oyo State Commissioner for Budget and Economic Planning and State SABER Chairman Prof. Musibau Babatunde harped on the importance of creating an enabling environment for business to thrive, adding that there is a need to consistently reform the business environment to attract investors.
He stressed further that failure to engage the business investors could render the state uncompetitive, discouraging business growth and hindering economic progress.
He hinted that the strong commitment to nurturing small and medium-scale enterprises will generate innovative ideas, and boost operational efficiency.
He noted that today’s event will avail the state to evaluate what they have done, what they are doing currently and the future’s plans to ease doing business in the state.
He appreciated the PEBEC team for their resilience and adaptability in navigating critical moments to ensure sustained progress.
Babatunde affirmed that Oyo State has embraced the SABER framework as a transformative vehicle for governance reform, private sector engagement, and economic inclusion.
Speaking virtually, the Director-General, PEBEC, Princess Zahrah Mustapha Audu, said the partnership between the agency and Oyo State would enable the government and stakeholders to adapt, enhance and strengthen the regulatory environment, particularly through the SABER programme.
She said, “The goal of PEBEC is to work with the States and ensure all hands are on deck to support the administration of President Bola Ahmed Tinubu to foster a conducive business environment that drives more innovation and growth.
In her remarks, the Senior Reform Leader, PEBEC,Hussaina Abdulkadri, said the Presidential Enabling Business Environment Council (PEBEC) has intensified efforts to replicate ease of doing business reforms at the sub-national level through the State Action on Business Enabling Reforms (SABER) programme.
She explained that the event marked the beginning of a series of engagements aimed at ensuring that reforms implemented at the federal level are cascaded down to the states, where most investors operate.
She noted that PEBEC recognizes the critical role sub-national governments play in Nigeria’s investment landscape.
According to Abdulkadri, the SABER program is a $750 million performance-for-results initiative co-designed by the PEBEC Secretariat and currently being implemented in partnership with the World Bank, the Federal Ministry of Finance, and the Nigeria Governors’ Forum.
She also said, PEBEC is collaborating with the Oyo State Investment Promotion Agency (OYSIPA) to document and publicize business incentives, enabling investors to clearly understand what benefits are available to them.
She further disclosed that PEBEC is also supporting the state in enhancing access to justice, particularly for small businesses. This has led to the establishment of seven Small Claims Courts in Oyo State. These courts provide a simplified legal process for resolving monetary disputes involving amounts of ₦5 million or less, and up to ₦10 million for counterclaims. She said the initiative, is part of broader efforts to create a more attractive and investor-friendly environment across Nigeria’s states.
