Oluwatobi Adu 
ABUJA, Nigeria – The Federal Government is moving to curb overlapping regulations, duplicate fees and bureaucratic delays across public institutions in a fresh effort to reduce the cost of doing business and improve Nigeria’s investment climate.
Finance Minister and Coordinating Minister of the Economy Taiwo Oyedele outlined the proposed approach on Thursday during a meeting with heads of government agencies and senior officials in Abuja. According to a statement issued on Sunday by the Federal Ministry of Finance spokesperson, Efe Ovuakporie, Oyedele said the next phase of Nigeria’s economic reforms must address the everyday difficulties businesses encounter when dealing with government institutions.
He directed ministries, departments and agencies (MDAs) to operate within their legal mandates, eliminate unnecessary duplication and coordinate their activities to prevent businesses from facing conflicting requirements from multiple authorities. “Where mandates overlap, the goal should be one lead agency, one process and one fee,” Oyedele said.
The proposed approach, described as a “One Government” strategy, is intended to make public administration more predictable, reduce compliance costs and improve service delivery for businesses and investors.
Oyedele also directed agencies to consult stakeholders before introducing new regulations, assess their economic impact, coordinate with other relevant institutions and provide adequate notice before implementation. He said agencies must remit revenues promptly, transfer surpluses to the Consolidated Revenue Fund and submit audited accounts within the required timelines.
The measures are intended to strengthen financial accountability alongside efforts to improve the efficiency of government services. The minister said agency performance would be assessed against measurable indicators, including service delivery timelines, reductions in regulatory costs and compliance with published deadlines.
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Mirian Gom 
Korede Abdullah 