The Federal Government, on Friday, reiterated its commitment to creating a streamlined regulatory business environment to enhance the informal sector.
Senior Special Assistant to the President on the Presidential Enabling Business Environment Council (PEBEC), and Investment, Taiwo Ajetunmobi, disclosed this in Abuja, during a Bëtá Nigeria Campaign Partners’ Roundtable Discussion, with the theme: ‘A Pathway To Sustainable Economics.’
The roundtable which was organized by Bëtá Nigeria Campaign (BN), equally highlighted that children aren’t learning much, because three in four ten-year-olds cannot read a simple sentence or solve a basic math problem.
The roundtable brought together stakeholders from civil society and media organizations to advocate for education reform, recognizing it as a critical investment in Nigeria’s future stability and prosperity.
Ajetunmobi explained that the discussion aims to make doing business in Nigeria easier, not just for the formal sector but particularly for the informal sector.
He said: “And Nigeria should have high expectations because, without them, there are limits to how far we can go. We need the support of the government, including the Minister of Finance, who coordinates economies, and the central bank. The Minister of Trade and Investment is also playing a crucial role, and we are here to offer our support as well.
“A significant part of our focus will be on improving the regulatory environment. We aim to make regulations easier for businesses to comply with, and we are committed to eliminating outdated regulations and updating the regulatory framework to align with the modern world.
“Therefore, Nigerians can anticipate a more efficient and streamlined regulatory environment in the future. We are dedicated to making these improvements to support the growth and success of businesses in Nigeria.”
In his remarks, National Lead for Bëtá Nigeria, Abdulsalam Badamasi, stressed the need for increased investment in education to empower future generations and create productive citizens.
He said: “This collaborative declaration has enabled Bëtá Nigeria to secure a unified commitment from diverse and multiple stakeholders across Nigeria, increasing the demand for better education and fostering government accountability.”
He called for action to enhance educational prospects in Nigeria, ensuring that every Nigerian child has access to quality education, saying that Bëtá Nigeria receives funding support from the UK government.
Speaking on Bëtá Nigeria’s report launched, the head of Partnerships at the African Talent Company/Program Manager, Partnerships at Jobberman Nigeria, Ahmed Alaga, noted that the informal sector has been a dominant force in employment trends for over five decades in Nigeria.
Also speaking on the dominance of the informal sector in employment trends, Alaga, cited statistics that show the sector accounts for about 90% of all new jobs, 60% of urban jobs, 50% of the nation’s GDP, and 80% of all non-agricultural employment in Nigeria.
He also mentioned that the recent drop in Nigeria’s unemployment rate can be attributed to the recognition of informal work in the country’s new methodology.
He said: “We are the largest young population, and I strongly believe that in the next couple of years, Nigeria has only two options. One, we are either the largest workforce in the world based on our population or the largest criminal force in the world.
“The only aim is to see how we address that challenge by providing the right tools, the right resources, assets, and agency for young people to be able to take advantage of this opportunity and access the opportunity to earn an income or to have some sort of dignified job at the end.”
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