In a bid to improve the ease of doing business across Nigeria, the federal government has disbursed $68.36 million to 28 states. This was done under the States Action on Business Enabling Reforms (SABER) Programme, and funded by a $750 million loan initiative supported by the World Bank....Read Full Article >>➤
While 33 states and the FCT have signed the Subsidiary Loan agreement, 28 states have so far received funds ranging from $1 million to $4 million as part of the Prior Results Disbursements.
Permanent Secretary of the federal ministry of finance, Mrs Lydia Jafiya, revealed this during the 2025 National Sensitisation Workshop on the SABER Programme, held in Abuja.
$68 million disbursed to 28 states
Speaking further on the disbursement, Jafiya noted that the funds will help the 28 state governments implement and monitor key business reforms in their respective states.
These reforms are targeted at improving business competitiveness in Nigeria, attracting investments into the local economy, and streamlining regulations to help businesses thrive, the PUNCH reports.
Jafiya expressed satisfaction that despite the delays in starting the programme, the governments remained resilient and have finally commenced implementation.
She added that the programme had improved transparency based on lessons from the State Fiscal Transparency, Accountability, and Sustainability Programme.
Key achievements from the programme include strengthening grievance redress mechanisms for businesses, reducing the cost of fibre optic deployment, enhancing Public-private partnerships, and enhancing transparent regulation.
The permanent secretary thanked the World Bank, the Presidential Enabling Business Environment Council, the Debt Management Office, and the Nigeria Governors’ Forum, for their efforts to ensure the success of the programme.
Jafiya added that an Independent Verification Firm had been engaged to conduct performance assessments across the states for 2023 and 2024.
Recall that the Nigeria Customs Service (NCS) recently granted 30 days free cargo clearance, to help businesses in Nigeria.
Monitoring funds spent on business reforms
Also speaking at the programme, the Director of the Home Finance Department and National Programme Coordinator of SABER, Dr Ali Mohammed stated the monitoring will be handled seriously.
He noted that subsequent disbursements would be done based on independent verifications and monitoring done by the Independent Verification Firm engaged for that purpose.
This will ensure transparency and track the results of the programmes as it increases local and foreign investments in the country.
Recall that the government has also announced plans to transform Obudu Cattle Ranch into a major livestock and dairy hub that will attract investors. ...Read Full Article >>➤
Be the first to comment