The federal government has announced plans to launch the PEBEC Business Champions Programme, an intervention initiative aimed at bolstering Micro, Small, and Medium-sized Enterprises (MSMEs) in Nigeria. Dr. Jumoke Oduwole, the Special Adviser to President Bola Tinubu on Presidential Enabling Business Environment Council (PEBEC) and Investment, revealed this as part of the PEBEC’s 2024 Outlook document.
The program focuses on two segments, with the first involving collaboration with medium-sized enterprises. A pilot cohort of approximately 25 businesses will receive bespoke services to navigate the business climate more effectively. The selection criteria include factors such as revenue, tax contributions, job creation, sectors, and export proceeds.
The second part of the program targets larger businesses, specifically the 23 companies with annual revenues exceeding one billion dollars in Nigeria. This shift in approach is designed to expedite economic growth during challenging times.
Oduwole highlighted the legislative intervention that involves a comprehensive review of the Omnibus Act. Over 40 law firms across the country volunteered their expertise to review approximately 21 business laws, resulting in the formation of the Act.
Additionally, the PEBEC is collaborating with state judiciaries to establish more Small Claims Courts. Oduwole emphasized the importance of strategic communication interventions to ensure widespread awareness and understanding of the reforms among businesses and stakeholders.
The PEBEC, established in 2016, oversees business environment interventions in Nigeria. The PEBEC Business Champions Programme aligns with President Tinubu’s Renewed Hope Agenda, aiming to enhance the business landscape and stimulate economic growth.
