New business registration not longer than two days presidential panel

A great initiative!

The Presidential Panel on Ease of Doing Business has indeed set a target to register a new business in Nigeria within two days. This is a significant step towards improving the business environment and reducing the bureaucratic hurdles that entrepreneurs face.

As of 2020, the Presidential Panel on Ease of Doing Business has achieved a significant reduction in the time it takes to register a new business in Nigeria. According to the panel's report, the average time it takes to register a new business in Nigeria has been reduced from 27 days to just 2 days.

This achievement is a testament to the panel's efforts to simplify the business registration process and reduce the regulatory burden on entrepreneurs. The panel has worked with various government agencies and stakeholders to streamline the process and eliminate unnecessary paperwork and bureaucratic hurdles.

The benefits of this initiative are numerous. For one, it will encourage more entrepreneurs to start new businesses, which will lead to job creation, economic growth, and increased competitiveness. It will also reduce the cost of doing business in Nigeria, making it more attractive to local and foreign investors.

To achieve this feat, the Presidential Panel on Ease of Doing Business has implemented several reforms, including:

1. Simplification of business registration forms: The panel has simplified the business registration forms, making it easier for entrepreneurs to fill and submit them.
2. Online registration: The panel has introduced an online registration platform, which allows entrepreneurs to register their businesses from the comfort of their own homes or offices.
3. Reduction of documentation: The panel has reduced the number of documents required for business registration, making it easier for entrepreneurs to comply with the requirements.
4. Streamlining of processes: The panel has streamlined the business registration process, eliminating unnecessary delays and bureaucratic hurdles.

Overall, the Presidential Panel on Ease of Doing Business has made significant progress in reducing the time it takes to register a new business in Nigeria. This initiative is expected to have a positive impact on the economy and encourage more entrepreneurs to start new businesses.