- Clamps down on overlapping regulations
BY COBHAM NSA – In a decisive crackdown on public sector lethargy, the Federal Government has launched a sweeping performance-based accountability framework designed to dismantle bureaucratic bottlenecks and eliminate the overlapping regulatory hurdles that stifle private sector investment.
The high-stakes policy shift serves notice to heads of Ministries, Departments, and Agencies (MDAs) that the era of “manual inefficiency” and regulatory duplication is officially over. Under the new operational mandate, government institutions will be strictly bound to measurable performance targets, forcing an aggressive transition from systemic delays to predictable, business-friendly execution.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, who announced the plan at a strategic engagement with Heads of Agencies and senior government officials in Abuja, said the reform targets the specific daily frustrations faced by entrepreneurs, ranging from redundant document demands to conflicting agency fees.
Oyedele said by forcing state organs to synchronize operations, the administration aims to create a highly responsive economic ecosystem capable of restoring investor confidence and accelerating national growth, adding that the next phase of Nigeria’s economic reforms must go beyond stabilising the economy to fixing the everyday frustrations businesses encounter in their dealings with the government.
Emphasizing that agencies must make it easier, not harder, for businesses to operate, invest and expand, the Minister tasked MDAs to focus on their statutory mandates and eliminate duplicate requirements, multiple fees and unnecessary procedures that increase the cost of doing business.
He outlined a “One Government” approach under which MDAs would coordinate their activities rather than leave businesses and other applicants to navigate conflicting demands from different institutions, adding that where mandates overlap, the goal should be one lead agency, one process and one fee.
Addressing issues of public finance, Oyedele directed all government agencies to immediately remit revenues in full, transfer operating surpluses to the Consolidated Revenue Fund, and submit audited accounts as required by law, stressing that agency performance will now be judged strictly on results, specifically focusing on service speed, adherence to published timelines, and reducing regulatory costs for businesses.
While acknowledging internal bottlenecks, Oyedele, who urged agencies to consult stakeholders and assess economic impacts before introducing new regulations, emphasized the need for institutional coordination and providing reasonable notice before implementing major policy or regulatory changes.
Promising to hold the Finance Ministry to the same standards by tackling its own slow approvals, delayed releases, and outdated rules, the Minister said going forward, the Ministry will review agency submissions and provide feedback within four to six weeks, explaining that a draft framework will thereafter be circulated for further consultation, requiring each agency to commit to measurable, periodically reviewed targets.
He said the initiative is meant to boost public sector accountability and speed up government services, adding that by streamlining bureaucracy, the reform will allow businesses to spend less time navigating red tape and more time expanding and creating jobs.
