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Economic Issues > Blog > Uncategorized > FG Sets Performance Targets for Agencies to Make Doing Business Easier
Uncategorized

FG Sets Performance Targets for Agencies to Make Doing Business Easier

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By Reporter October 11, 2026
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Minister of Finance and Coordinating Minister of the Economy Mr. Taiwo Oyedele
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FG Sets Performance Targets for Agencies to Make Doing Business Easier

By Patience Ikpeme 

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The Federal Government says it will begin measuring government agencies by the results they deliver, as part of a new plan to cut long delays, end repeated demands on businesses and make public offices friendlier to investors.

 

This was disclosed in a statement issued on Sunday by Mr. Efe Ovuakporie, Head of Information and Public Relations Unit at the Federal Ministry of Finance. According to the statement, the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, spoke on Thursday at a meeting with heads of agencies and senior government officials at the Ministry’s headquarters in Abuja.

 

Mr. Oyedele told the officials that Nigeria’s economic reforms must now move to a new stage. Bringing stability to the economy is no longer enough, he said, because government must also deal with the daily troubles that business owners face when they deal with public offices. He told agencies that their duty is to make it “easier, not harder” for people to run businesses, invest their money and grow their operations.

 

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To make this happen, the Minister asked agencies to work strictly within the powers given to them by law. He also asked them to stop asking applicants for the same documents more than once, to stop charging several fees for the same service and to drop any steps that serve no real purpose but add to the cost of doing business in Nigeria.

 

The Minister also described what he called a “One Government” approach. Under it, ministries, departments and agencies will work together, so that a trader or investor no longer has to satisfy different offices that are making conflicting demands. Where the duties of two or more agencies overlap, Mr. Oyedele said the aim should be “one lead agency, one process and one fee.”

 

He also spoke about how new rules are made. Agencies were told to speak with the people who will be affected before introducing any new regulation, to study how the measure could affect the economy and to consult other relevant institutions. They were also told to give businesses enough notice before major changes in policy or regulation take effect, so that companies can adjust and plan.

 

On the management of public money, the Minister directed agencies to pay all revenues owed to the Federal Government on time and in full. They must also transfer their operating surpluses to the Consolidated Revenue Fund and submit audited accounts as the law requires.

 

Mr. Oyedele said the work of each agency would be judged by what it achieves. The tests will include how fast it delivers services, whether it keeps to the timelines it has published and whether its procedures are becoming cheaper and simpler for businesses.

 

The Minister also said the Ministry of Finance would not be exempt. He admitted that government has problems of its own to fix, among them slow approvals, late release of funds and old rules that no longer suit present realities.

 

On the next steps, the statement said the Ministry will study the submissions made by the participating agencies and give each one specific feedback within four to six weeks. A draft of the framework will then be shared for wider consultation. Each agency is expected to agree to clear, measurable commitments, and progress will be checked from time to time.

 

The Federal Government says the plan is meant to make public institutions answerable for how good and how quick their services are. It also hopes that business owners will spend less time dealing with government paperwork and more time investing, expanding and creating jobs for Nigerians.

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Reporter October 11, 2026 October 11, 2026
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