Nigeria seeks to improve the ease of doing business

Nigeria's Minister of State for Finance, Doris Uzoka-Anite, recently shared insights on the progress of Nigeria's economic reform program in an exclusive interview with CNBC Africa's Editor-in-Chief, Godfrey Matizwa. The discussion took place at Standard Bank's African Markets Conference in Stellenbosch, South Africa, where policymakers, fund managers, and investors gathered to explore opportunities on the African continent. Uzoka-Anite highlighted key milestones in Nigeria's reform journey, emphasizing the positive impact on the country's economy and the path to sustainable growth. The minister commended Nigeria's bold approach to structural reforms, emphasizing the significance of internal initiatives in driving economic stability. She noted that Nigeria had achieved stability faster than anticipated, crediting the country's resilience and commitment to reform. Uzoka-Anite underscored the government's efforts to streamline policies, attract foreign direct investment, and create an enabling environment for businesses. Notable reforms include the removal of petroleum and FX subsidies, unification of exchange rates, and the implementation of tax and capital market reforms. The minister highlighted the positive outcomes of these reforms, such as reduced inflation, stabilized FX rates, and lower food prices. Uzoka-Anite also discussed future plans for sustaining growth, managing inflation, and optimizing the impact of the country's expansionary budget. She expressed optimism about Nigeria's economic outlook and emphasized the importance of strategic planning and monitoring to achieve desired outcomes. The minister's insights shed light on Nigeria's progress and aspirations in enhancing the ease of doing business and fostering economic development. With a focus on stability, growth, and reform, Nigeria is poised to capitalize on its potential and contribute to Africa's economic transformation.