Vice President Kashim Shettima has called on state governments to accelerate business-enabling reforms to fully unlock the benefits of the $750 million State Action on Business Enabling Reforms (SABER) programme, a World Bank-supported initiative aimed at improving the investment climate across Nigeria.
Speaking during a stakeholder meeting on the implementation of the programme at the Presidential Villa in Abuja on Tuesday, Shettima said states must intensify efforts to attract domestic and foreign investments, improve infrastructure and drive economic growth at the subnational level.
In a statement signed by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications (Office of the Vice President), Shettima said effective implementation of the SABER programme would create a more transparent and predictable business environment, boost investor confidence and lower the cost of doing business.
According to him, the programme would also enhance access to land, strengthen commercial justice systems, expand digital and physical infrastructure and improve the competitiveness of states.
“These outcomes will translate into increased economic activity, higher productivity, job creation, improved internally generated revenue, and better living standards for our citizens,” the Vice President said.
To enable states maximise the programme’s benefits, Shettima directed the Director-General of the Presidential Enabling Business Environment Council (PEBEC), Zarah Mustapha-Audu, to initiate steps towards extending the lifespan of the programme by one additional year.
He said an extension would allow states to fully utilise the opportunities provided under the initiative and contribute more effectively to Nigeria’s ambition of building a $1 trillion economy.
The Vice President noted that while the Federal Government is implementing broad economic reforms under President Bola Ahmed Tinubu, the success of those reforms depends largely on the business environment created by state governments.
“Many of the conditions that define the experience of investors and businesses are determined at the subnational level. This is why the role of State Governments in the implementation of SABER is critical,” he said.
Earlier, the Minister of State for Budget and Economic Planning, Doris Uzoka-Anite, urged stakeholders to address implementation challenges to ensure the programme delivers its intended outcomes in line with the administration’s Renewed Hope Agenda.
She expressed confidence that participating states would meet the requirements needed to access the performance-based funding provided under the programme.
Providing an update on implementation progress, Mustapha-Audu said PEBEC remains committed to eliminating bureaucratic obstacles and working with government institutions, civil society groups and the private sector to achieve the programme’s objectives.
She added that although disbursements are tied to specific performance indicators, participating states are making steady progress toward meeting the programme’s requirements.
