By Abubakar Yusuf
Continuity in governance has remained a critical factor in sustaining Nigeria’s economic resilience, particularly under the Renewed Hope Agenda of President Bola Ahmed Tinubu, which places strong emphasis on enhancing local competitiveness while positioning the country favourably in the global investment landscape, including the attraction of foreign direct investment (FDI).
Central to this objective is the sustained implementation of a policy framework supported by the Federal Ministry of Finance, the World Bank and the Nigeria Governors’ Forum (NGF), and coordinated by the Presidential Enabling Business Environment Council (PEBEC). This framework has not only endured across administrations but has continued to evolve and gain traction.
One of its most significant components is the State Action on Business Enabling Reforms (SABER), a $750 million performance-based initiative introduced for the 2023–2025 period. Designed as an implementation template, SABER encourages Nigerian states to engage in healthy competition, both locally and globally, by instituting reforms that improve the ease of doing business and unlock access to development financing.
Under the leadership of Princess Zahrah Mustapha, Director-General of PEBEC, the programme has been reinvigorated through sustained stakeholder engagement and an intensified reform drive across the states. Her leadership has focused on motivating subnational governments to deliver critical business-enabling reforms, while linking access to disbursements strictly to performance and compliance.
To qualify for funding, states are required to meet clearly defined criteria, including the development and implementation of Business-Enabling Reform Action Plans, adherence to due diligence standards, and the achievement of Disbursement-Linked Indicator (DLI) milestones. Independent assessments are conducted by third-party Independent Verification Agents (IVAs), and funds are released only after eligibility is confirmed.
Key reform areas include improved land and property registration, promotion of private investment through Public-Private Partnership (PPP) arrangements, streamlined tax and regulatory procedures, and enhanced transparency through credible budgeting and financial disclosure practices.
PEBEC has complemented these requirements with continuous sensitisation and capacity-building initiatives. Through talk shops, workshops and town hall meetings, the council has engaged state governments as critical stakeholders, reinforcing the importance of reform ownership and institutional alignment with national economic objectives.
The reinvigoration strategy adopted under Princess Mustapha’s leadership has significantly boosted participation among states and the Federal Capital Territory, strengthening confidence in the programme and expanding access to global development funds tied to measurable reform outcomes.
For decades, the over-reliance of states on monthly federal allocations has constrained development and stifled private-sector-led growth. The SABER framework, driven by PEBEC’s reform agenda, offers a viable pathway for states to diversify revenue sources, improve governance standards and create enabling environments for businesses to thrive.
With a clear focus on aligning subnational reforms with global best practices, PEBEC’s determination and policy direction have begun to reposition states as competitive economic actors rather than passive recipients of federal transfers. If sustained, this approach holds the potential to fundamentally transform Nigeria’s business climate and accelerate inclusive economic growth across the federation.
Abubakar Yusuf writes from Abuja and can be reached via [email protected].
