FG Disburses $68.36 Million to 28 States for Business Reforms
The Federal Government has announced the disbursement of $68.36 million to 28 states under the States Action on Business Enabling Reforms (SABER) Programme a $750 million loan initiative supported by the World Bank.
The program is designed to enhance the ease of doing business across Nigeria by fostering economic and regulatory reforms.
The Minister of Finance, disclosed this in a statement, emphasizing that the funds will help states implement crucial policies aimed at improving business environments, boosting investment, and creating jobs. “
The disbursement is part of our commitment to ensuring that states have the necessary financial support to implement business-friendly policies.
This initiative aligns with our broader strategy to enhance economic growth and attract both local and foreign investments,” the minister stated.
The SABER programme provides financial incentives to states that meet predefined reform targets in areas such as business registration, infrastructure development, land administration, and transparency in governance.
The ultimate goal is to create a more conducive business climate and stimulate economic activities across the country. Experts have commended the move, highlighting its potential to enhance Nigeria’s position in global business rankings and drive sustainable economic development. However, stakeholders urge strict monitoring to ensure that the funds are effectively utilized for the intended purpose.
The Federal Government reiterated its commitment to working closely with states to ensure the success of the initiative, calling on state governments to prioritize the implementation of key reforms that will benefit entrepreneurs and businesses nationwide.
