The Nigerian Senate has approved the Business Facilitation Bill (Miscellaneous Bill) also known as the Omnibus Bill.
The bill had earlier been passed by the House of Representatives.
A statement by Jumoke Oduwole, Special Adviser to the President on Ease of Doing Business, said the bill will soon be transmitted to the President for his assent.
Jumoke further explained that the bill is an intervention by the Presidential Enabling Business Environment Council (PEBEC) to consolidate and amend legislative provisions towards deepening PEBEC reforms and removing bottlenecks for Micro, Small, and Medium-sized Enterprises (MSMEs) in Nigeria.
Also, the Federal Executive Council (FEC) had earlier approved the $750 million world Bank-backed State Action on Business Enabling Reform, SABER which was okayed by the World Bank Board.
It is believed that the SABER programme will incentivize and strengthen the implementation of business-enabling reforms across all states in Nigeria.