Federal Government has begun a new phase of institutional reforms aimed at eliminating overlapping regulations, multiple fees and bureaucratic delays across ministries, departments and agencies (MDAs).
Gatekeepers News reports that Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, disclosed this during a strategic meeting with heads of government agencies and senior officials at the Ministry of Finance headquarters in Abuja on October 8.
According to a statement from the ministry, the initiative is designed to improve public service delivery, reduce the cost of doing business and create a more predictable environment for businesses and investors.
Oyedele said Nigeria’s economic reform agenda must go beyond achieving macroeconomic stability to addressing the administrative challenges businesses face when dealing with government institutions.
Under the proposed framework, agencies will be required to operate within their statutory mandates and eliminate duplicated documentation requirements, fees and procedures.
The minister said the government would adopt a “One Government” approach, requiring agencies to coordinate their activities rather than compel applicants to navigate conflicting demands from multiple institutions.
“Where mandates overlap, the objective will be one lead agency, one process and one fee, while unnecessary regulatory requirements will be reviewed,” the statement said.
Oyedele also directed agencies to consult relevant stakeholders before introducing new regulations, assess the economic implications of proposed measures, coordinate with other government institutions and provide reasonable notice before implementing major policy changes.
On public finance, the minister instructed agencies to remit all legally due revenues promptly, transfer operating surpluses to the Consolidated Revenue Fund and submit audited accounts in accordance with the law.
He added that agency performance would be assessed using measurable indicators, including the speed of service delivery, compliance with published timelines and reductions in the cost of doing business.
Oyedele acknowledged that the Ministry of Finance must also address institutional bottlenecks, including slow approvals, delayed fund releases and outdated regulations.
He said the ministry would review submissions from participating agencies and provide specific feedback within four to six weeks. A draft performance framework would subsequently be circulated for further consultation.
Each agency would then agree to measurable commitments, with implementation subject to periodic reviews to assess compliance and improvements in service delivery.
The reforms are intended to reduce unnecessary administrative burdens on businesses, strengthen accountability across government institutions and make Nigeria’s regulatory environment more efficient for investment and economic activity.
