The Federal Government has directed ministries, departments and agencies (MDAs) to eliminate overlapping regulatory fees and unnecessary administrative procedures in a move to reduce the cost of doing business and encourage investment in Nigeria.
The directive was announced by Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, during a strategic meeting with heads of government agencies in Abuja. According to a statement issued by Efe Ovuakporie, Head of the Information and Public Relations Unit of the Federal Ministry of Finance, the government also plans to introduce measurable performance targets to improve service delivery and strengthen accountability across public institutions.
Oyedele said government agencies must operate within their legally defined responsibilities and stop imposing duplicate requirements on businesses and investors.
“Where mandates overlap, he said, the goal should be one lead agency, one process and one fee,” the statement read.
The minister explained that the reform would operate under a “One Government” framework, which requires agencies to coordinate their activities rather than make businesses deal with conflicting rules, repeated payments and unnecessary paperwork. He said Nigeria’s economic reforms must extend beyond stabilising the economy to addressing the practical difficulties businesses face when dealing with government institutions.
According to him, public agencies should support business growth, investment and expansion instead of creating additional costs through inefficient administrative processes. As part of the reform, Oyedele directed agencies to consult relevant stakeholders before introducing new regulations. They are also expected to assess the likely economic effects of proposed policies and give businesses sufficient notice before implementing major changes.
The government said better coordination among regulators would reduce disruptions and create a more predictable environment for businesses. Oyedele also addressed public financial management, directing agencies to remit government revenues promptly, transfer operating surpluses to the Consolidated Revenue Fund and submit audited financial statements as required by law.
Under the proposed performance framework, agencies will be assessed using indicators such as the time required to deliver services, compliance with published processing timelines and reductions in regulatory costs. The minister acknowledged that the Ministry of Finance must also address internal challenges, including delayed approvals, slow release of funds and outdated administrative rules.
According to the statement, the ministry will review submissions from participating agencies and provide specific feedback within four to six weeks. A draft performance framework will then be circulated for further consultation. Each agency will subsequently agree to measurable commitments, which will be reviewed periodically to determine whether the targets are being achieved. The initiative is intended to improve institutional accountability, reduce bureaucratic delays and make government services more efficient.
For businesses, the removal of duplicate fees and unnecessary procedures could lower operating costs and free up resources for expansion, investment and job creation. However, the impact of the reform will depend on how consistently government agencies implement the directive and whether the proposed performance targets lead to measurable improvements.
The government is seeking to make interactions with public institutions simpler and more predictable, particularly for businesses that face multiple regulatory requirements across different agencies.
