Vice President Kashim Shettima has called on state governments to unlock the potential of the $750 million World Bank-assisted State Action on Business Enabling Reforms (SABER) programme.
Speaking at a stakeholders’ meeting on Tuesday in Abuja, Mr Shettima urged states to accelerate business-enabling reforms to access the fund, saying implementation would help create a more predictable and transparent business environment.
He noted that the reforms were necessary to attract domestic and global capital, enhance local infrastructure, and drive sub-national economic growth. Other benefits, he said, include strengthening private-sector confidence and reducing the cost of doing business.
“These outcomes will translate into increased economic activity, higher productivity, job creation, improved internally generated revenue, and better living standards for our citizens,” Mr Shettima said.
He directed the Director-General of the Presidential Enabling Business Environment Council (PEBEC) to initiate steps to extend the programme’s lifespan by one year, ensuring states can fully utilise the opportunities available.
The Vice President added that Nigeria would stand a better chance of realising its $1 trillion economy drive by fully optimising SABER’s implementation.
“I, therefore, encourage us to engage constructively and contribute meaningfully to our deliberations. Let us seize this opportunity to unlock the full potential of the SABER Programme and position our states as engines of economic growth, investment, and sustainable development,” he said.
Mr Shettima attributed the success of the current administration’s reforms to a conducive business environment, adding that while the Federal Government continues reforms at the national level, many conditions affecting investors are determined at the sub-national level.
“This is why the role of state governments in the implementation of SABER is critical,” he said.
The Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite, encouraged stakeholders to address implementation bottlenecks, expressing optimism that states would access the performance-based intervention designed by the World Bank technical team and the PEBEC secretariat.
PEBEC Director-General Zarah Mustapha-Audu said the council remained committed to removing bureaucratic bottlenecks, adding that while funds are tied to deliverables, participating states were making progress toward meeting all disbursement-linked indicators.
