Insights, Business Advisory, Company Set-up and Regulatory Compliance

A Review of the Business Facilitation Act, 2022

Nigeria is a populous country with abundant natural resources, despite this, it has witnessed an exodus of international companies in the last few years. Nigeria is currently ranked 131 out of 190 economies in the World Bank ease of doing business index. This ranking is based on the friendliness of a country’s regulatory environment towards business operations. The success and growth of places like Stockholm, Delaware, and the Cayman Islands are linked to well-developed corporate infrastructures that support business operations and management. This rating shows a need to revamp Nigeria’s regulatory climate.

The Business Facilitation Act? (BFA) is a miscellaneous provision that was enacted to simplify business-related laws and streamline processes in government agencies. As a catch-all law, the BFA amends and modifies provisions in twenty-one existing laws. Our review focuses on the digitization of Ministries, Departments, and Agencies (MDAs), and thirteen (13) business-related laws, by highlighting the impact of the changes on Nigeria’s regulatory and business landscape…

 

 

To read the full article, kindly download the PDF

Ifeoma Ezeribe

Partner

Azeezat Ogunsola

Associate

Practice Key Contacts

More To Read

04/09/2025
Corporate Governance Code for the NESI: Implications for Power Sector Licensees

INTRODUCTION Pursuant to Sections 34 and 226(1) of the Electricity Act 2023 (the “Act”), the Nigerian Electricity Regulatory Commission (“NERC”) published the Code of Corporate

02/09/2025
Policy Brief: Nigerian Insurance Industry Reform Act, 2025 (NIIRA 2025)

INTRODUCTION On 5 August 2025, the President of Nigeria signed into law the Nigerian Insurance Industry Reform Act, 2025 (NIIRA 2025). This landmark legislation repeals