The Presidential Enabling Business Environment Council (PEBEC) is set to establish commercial courts and subnational councils as part of efforts to make better Nigeria's business climate.
PEBEC disclosed the establishment of a nationwide presence was vital to its 2025 work plan to drive the ease of doing business chiefly through subnational reforms and commercial courts for easier business arbitration.
The Project Manager at the PEBEC Secretariat, Aimeya Okpebholo, revealed these initiatives in a statement highlighting its 2025 Outlook document.
Okpebholo made known the introduction of a Regulatory Impact Assessment Framework as a key innovation in regulatory reforms.
She said: "The RIA Framework represents a transformative step for Nigeria’s business environment.
“With its adoption, regulatory decisions will carefully evaluate their potential impact on businesses and the economy.
“Efforts will concentrate on improving insolvency regulations, digitising Small Claims Courts, and establishing Commercial Courts to provide businesses with quick and efficient legal recourse.”