The Vice President, Yemi Osinbajo said the President Muhammadu Buhari Administration is committed to removing unnecessary bureaucracies to make the nation business friendly.
The Vice President noted that the Administration is equally committed to fixing the challenges bedeviling the Oil and Gas sector in the country.
Osinbajo, who gave the assurance during the 55th Anniversary Business Event Session of the Oil Producers Trade Section (OPTS) of the Lagos Chamber of Commerce and Industry, LCCI, themed ‘Nigeria: An Investor-Friendly Destination’ held on Thursday in Lagos, also stated that President Buhari had demonstrated unwavering commitment to fixing the oil and gas sector by launching a road map for the re-positioning of the sector in 2016.
New National Oil and Gas policy
Osinbajo further explained that the National Economic Committee had also launched a new national oil and gas policy which is currently awaiting the approval of the Federal Executive Council.
“We are well poised as an Administration to confront challenges facing the oil and gas industry and indeed other sectors headlong. President Muhammadu Buhari has never relented since we assume office to make Nigeria the desired investment destination.
“As you are aware, our efforts in the ongoing Ease of Doing Business policy has yielded impressive gains and that amounts for our current growth on the global Ease of Doing Business ranking as the tenth most improved economy in the world.
“That for us is not a reason to rest on our oars. There is still much of work to be done to clear unnecessary bureaucracies hindering the business environment in Nigeria,” Osinbajo said.