Asaba, Nov. 23, 2023 – The federal government is partnering the World Bank to introduce a new initiative called the State Action on Business Enabling Reforms (SABER) programme.
Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced this during the four-day Federation Account Allocation Committee (FAAC) retreat in Asaba, Delta State
He said the programme, which is to enhance Nigeria’s business environment at the state level, would be implemented between from 2023 to 2025.
The programme will be a continuation of the States Fiscal Transparency, Accountability, and Sustainability (SFTAS) Programme
.Edun said the $750 million SABER Programme was awaiting approval from the National Assembly as part of an abridged External Borrowing Plan.
He said the objective of the programme was to incentivize and strengthen the implementation of business-enabling reforms, including land administration, the regulatory framework for private investment in fibre optic infrastructure, public-private partnership and investment promotion frameworks, tax administration, and the business-enabling regulatory environment.
Edun reiterated the Federal Government’s commitment to fiscal and monetary reforms, which will create a conducive business environment, diversify the revenue base, facilitate investment in critical infrastructure, and ensure macroeconomic stability. He expressed confidence that together, the government and the World Bank will build a resilient economy for Nigeria. (GBN)
