The Federal Government of Nigeria has announced plans to eliminate multiple regulatory fees and overlapping responsibilities across Ministries, Departments and Agencies (MDAs). This move aims to reduce the cost of doing business and attract investment in the country. The government also plans to introduce measurable performance targets for MDAs to improve service delivery and demonstrate greater accountability in their operations.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this in a statement issued by the Head of the Information and Public Relations Unit of the Federal Ministry of Finance, Efe Ovuakporie. Oyedele had a strategic engagement with heads of government agencies in Abuja on Thursday. He directed agencies to operate strictly within their statutory mandates and eliminate duplicate requirements, multiple fees and unnecessary procedures that impose additional costs on businesses.
Oyedele's initiative will operate under a “One Government” framework, requiring MDAs to coordinate their activities rather than subject businesses and investors to conflicting regulatory demands. The goal is to have one lead agency, one process and one fee where mandates overlap. This move is part of Nigeria's economic reform agenda, which must move beyond macroeconomic stabilisation to address operational challenges confronting businesses in their interactions with government institutions.
The minister stressed that public agencies must facilitate business operations, investment and expansion rather than create additional obstacles through administrative inefficiencies. To ensure this, agencies are directed to consult relevant stakeholders before introducing new regulations and assess their potential economic implications. They must also coordinate with other institutions and provide adequate notice before implementing major policy changes to minimise disruptions to businesses.
On public financial management, Oyedele directed agencies to ensure the prompt and complete remittance of government revenues, transfer operating surpluses to the Consolidated Revenue Fund and submit audited financial statements in accordance with existing laws. Agency performance will be assessed using measurable indicators, including service delivery timelines, compliance with published processing periods and reductions in regulatory costs.
The Ministry of Finance will review submissions received from participating agencies and communicate specific feedback within four to six weeks. A draft performance framework will be circulated for further consultation, after which individual agencies will be required to agree on measurable commitments. These commitments will be subject to periodic reviews to determine compliance and assess improvements in service delivery.
The initiative aims to strengthen institutional accountability, improve regulatory coordination and create a more predictable business environment. Reducing bureaucratic delays and regulatory costs will allow businesses to devote more resources to productive investment, expansion and job creation. The Ministry of Finance must also address its internal administrative challenges, including delayed approvals, slow fund releases and outdated operational regulations.
Key points
- The Federal Government aims to eliminate multiple regulatory fees and overlapping responsibilities across Ministries, Departments and Agencies.
- The "One Government" framework will require MDAs to coordinate their activities to reduce conflicting regulatory demands.
- Agency performance will be assessed using measurable indicators, including service delivery timelines and reductions in regulatory costs.
