The Federal Government in collaboration with the World Bank has declared the 2025 National Sensitization Workshop on the States Action on Business Enabling Reforms (SABER) Programme-for-Results open in Abuja – a $750m initiative aimed at incentivizing state-level reforms to improve Nigeria’s business climate.
The Permanent Secretary, Federal Ministry of Finance, Mrs Lydia Shehu Jafiya, while declaring the event open, emphasized the significance of the programme in fostering economic growth through business-friendly reforms.
“We are committed to creating an enabling environment that promotes business competitiveness and attractiveness,” Jafiya stated.
She added that “the SABER programme is a critical component of our efforts to enhance the business climate and drive economic growth.”
The Permanent Secretary highlighted the progress made so far, with 33 states and the Federal Capital Territory (FCT) signing the Subsidiary Loan Agreement (SLA) under the SABER programme.
Jafiya informed that 28 states have received between $1m and $4m in prior results disbursements, totalling $68.36m.
She acknowledged the challenges faced by states in implementing reforms but encouraged them to persevere. “We will continue to support states in their efforts to improve the business environment and attract investments,” Jafiya assured.
The Permanent Secretary also emphasized the importance of transparency and accountability in the implementation of the SABER programme.
By streamlining processes for land acquisition and ownership, the Permanent Secretary informed further that the programme aims to reduce bureaucratic hurdles and make it easier for businesses to operate. Additionally, she said the SABER programme seeks to enhance private investment in fibre optic deployment, strengthening regulatory frameworks to support this growth.
The programme also prioritizes the strengthening of investment promotion agencies and public-private partnership units, recognizing the critical role these entities play in attracting investment and driving economic growth.
Twenty Eight States Get $68.3m World Bank Business Reforms Loan is first published on The Whistler Newspaper
Source: The Whistler
