NewStats: 3,261,335 , 8,173,703 topics. Date: Wednesday, 28 May 2025 at 08:46 PM 5273v

Vice President Yemi Osinbajo has said that over-regulation has become a significant bottleneck to smoothly export products from Nigeria to other countries.

This is as he said, there has to be a complete reorientation on the exercise of regulatory authority in the country for businesses and investors to thrive in Nigeria.

Osinbajo spoke on Tuesday after receiving a report of an Ad-Hoc Committee of the Presidential Enabling Business Environment Council on Agro-Export and the presentation of a National Action Plan 7.0 at the Presidential Villa.

Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, disclosed this in a statement he signed on Sunday titled ‘Osinbajo charges FG regulatory agencies: you must change orientation towards businesses’.

The Vice President who presided over the first PEBEC meeting for 2022 noted that there is a problem “if people who want to export cannot export due to what seems like too many regulations.

“There are too many regulatory requirements. Too many regulations kill output. We have to take a second look at how we regulate.

“Over-regulation is killing businesses. It kills investments. An agric exporter can’t export perishable produce after months.”

The Vice President lamented that there are also processes of product certifications that take so long on the regulatory queues in Nigeria. In contrast, businesses from outside the country with swift regulatory regimes will then bring the same products into the country to sell.

“Because our certification processes are slow, others from outside nations (from neighbouring countries based on an ECOWAS agreement) with faster processes can bring their products and sell here, while our own businesses are still on the queues of regulatory agencies,” he observed.

Earlier, the PEBEC Secretariat had presented a report of the Ad-Hoc Committee of the Presidential Enabling Business Environment Council on Agro-Export where it was revealed among others that, “the exportation flow as regards payment and verification is extremely cumbersome.

“That exporters complained about the ‘imposition of the NAFEX rate on export proceeds, which limits their access to foreign exchange and their inability to utilise their export proceeds.’ (For instance, dollars domiciled in exporters s cannot be utilised for freight payment for export);

“There were ‘multiple physical cargo examinations by Pre-shipment Inspection Agencies; There were also multiple and sometimes overlapping documentation requirements’ from government regulatory agencies.

“The Council, therefore, resolved to approve an Agro-Export Action Plan that will remedy the situation and also approved a 60-day National Action Plan 7.0 that continues the ease of doing business reforms of the Buhari regime. The Plan kicks off on February 7, 2022.”

of PEBEC at Tuesday’s meeting included the Industry, Trade and Investment Minister, Niyi Adebayo; Police Affairs Minister, Mohammed Dingyadi; Works and Housing Minister, Babatunde Fashola; Head of the Civil Service, Dr Folashade Yemi-Esan; Special Advisers on Economic Matters, Dr Adeyemi Dipeolu; Ease of Doing Business & Council Secretary Dr Jumoke Oduwole; Heads of several Federal Government Agencies such as Nigeria Customs Service, Nigeria Ports Authority, National Agency for Food Drug istration and Control, Standard Organisation of Nigeria, Nigeria Shippers Council and representatives of the Private Sector.

https://punchng.com/osinbajo-charges-govt-agencies-to-reduce-regulation-bottleneck-for-exporters/

Common Toyota Matrix we used to clear in less than N200k those years, can not be cleared with N1m, you still need to add something. And APC mofos and this man will be shouting ease of doing business!

"Charges Govt agencies"... Sir, you are the Government.

Esseite:
"Charges Govt agencies"... Sir, you are the Government.

As in...

Gosh!

Why can’t he even go to one of those agencies TODAY!!!

“There are too many regulatory requirements. Too many regulations kill output. We have to take a second look at how we regulate.

“Over-regulation is killing businesses. It kills investments. An agric exporter can’t export perishable produce after months.”

The Vice President lamented that there are also processes of product certifications that take so long on the regulatory queues in Nigeria. In contrast, businesses from outside the country with swift regulatory regimes will then bring the same products into the country to sell.

“Because our certification processes are slow, others from outside nations (from neighbouring countries based on an ECOWAS agreement) with faster processes can bring their products and sell here, while our own businesses are still on the queues of regulatory agencies,” he observed.

They know the solutions, but can not enforce or make it to happen.
Ease of Doing Busines Ngbwanu!

Very funny country. When they should encourage export, they are making things difficult for exporters.
No wahala na, let's keep importing and depleting our foreign reserve.

Can't you give them order to reduce regulation bottleneck for exporters

Presido 2023

it is well
we are still optimistic about Nigeria
we shall not lose hope

Less talk more action

treesun:
Common Toyota Matrix we used to clear in less than N200k those years, can not be cleared with N1m, you still need to hard something. And APC mofos and this man will be shouting ease of doing business!

These guys were out to destroy Nigeria. They never planned to win in 2015 that's why it took their government over 6 months to constitute a working federal cabinet.

Rotimi amaechi even threatened on live radio to run a parallel government if APC did not win presidential elections in 2015.

I'm sure this osibanjo guy has goods from his farm he cannot export, his government policies have started affecting him negatively, so he is coming out to yarn dust.

tutudesz:
Can't you give them order to reduce regulation bottleneck for exporters

The man is into BDSM, his hands are always tied

This PEBEC is one of the beautiful platform set up by this istration, especially with the ease of doing business singed but saboteurs are always hellbent to frustrate government process of making Nigeria work but devil is a liar, this country will progress.

Oh na now eye dey open? After inflicting so much suffering on Nigerians in the importation/exportation and supply chain business..

I thought police said that no body(politicians)should start campaign yet?

.

You want just talk make dem say u dey talk abi?

There are too many regulatory requirements. Too many regulations kill output. We have to take a second look at how we regulate.

I the vice president on this.

BigDolph:
Presido 2023

With motivational speeches?

Osinbajo is always talking like a motivational speaker. Will these agencies now change simply because you charged them? Why not initiate a process to have these changes implemented?

THE SO CALLED REGULATION IS exposed to"BRIBERY"

ONLY THOSE WHO BRIBE THEIR WAY IS ALLOWED TO THROUGH.

So the bottleneck is more or less Nigerian factor that involves corrupt government officer using their office to demand bribe and stifle procedure of providing services.

It is a Nigerian thing.

In Nigeria power is oppression. If you are in office and your office cannot oppress people then it's useless.

A confused VP

Charger

So how is Buhari going to get money to clear Chinese debt? No be only werey dey disguise even normal person dey disguise ooo!

TheRareGem1:
This PEBEC is one of the beautiful platform set up by this istration, especially with the ease of doing business singed but saboteurs are always hellbent to frustrate government process of making Nigeria work but devil is a liar, this country will progress.

God bless you brother for seen things like an eagle! The rantings of those before your comments shows how talk is cheap and I dare
say those people blaming Osinbajo are just partician but not realistic because they don't even know or read the Federal Constitution of Nigeria to know the role of a V P of Nigeria.
In Nigeria Constitution,the President is the alpha and omega- winner takes all like the governor as an empror and that Osinbajo was able to stear the ship of Nigeria when Buhari was away for three-months on medical, shows he has capacity and capability of delivering if given the power!
I pity all the charades in Nigerian politics from opposition footsoldiers on
Nairaland to those who see Osinbajo as a man that would block their chances for their tribes men but not with any good intentions.
God will help us in Nigeria!

All these bottlenecks give birth to massive bribery.

Corrupt Officers are also a major problem. It's better to export through Cotonou port than any port in Nigeria. It takes just 3 days to export in Benin and 2 weeks minimum in Nigeria. Who will export perishable goods this way when they also don't have sorting and holding facilities at the ports. Police, Custom, Immigration, NDLEA,FAAN, NACHO and many others will request bribe from you before doing their job.

Good morning Osinbajo

wink2015:
THE SO CALLED REGULATION IS exposed to"BRIBERY"

ONLY THOSE WHO BRIBE THEIR WAY IS ALLOWED TO THROUGH.

So the bottleneck is more or less Nigerian factor that involves corrupt government officer using their office to demand bribe and stifle procedure of providing services.

It is a Nigerian thing.

Thank you! Brilliant submission.

It's a Nigerian thing, and the issue of numerous regulations by several govt agencies is not a matter that started with this istration, it's the way Nigeria has been operating especially since politicians became the bosses of civil and public servants.

This is what happens when govt workers are mandated to look for every means to generate revenue into government coffers (plus part of these revenues are unremitted and plundered by govt workers).

There are too many needless bureaucracy when dealing with govt offices; many of which are instituted by govt workers just to please politicians or for their own selfish gain. And to scale many of these hurdles to beat time, you will have to bribe your way through, if not, you may be sitting on a long thing.