The Federal Government has introduced new performance expectations for Ministries, Departments and Agencies (MDAs) to improve efficiency, reduce the cost of doing business and create a more investor-friendly regulatory environment.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced the initiative on Thursday during a high-level strategic engagement with heads of agencies and other senior government officials at the Federal Ministry of Finance headquarters in Abuja.
Oyedele said Nigeria’s economic reforms must go beyond achieving macroeconomic stability to improving the daily experiences of businesses and investors dealing with government institutions.
He stressed that agencies must operate strictly within their statutory mandates and eliminate overlapping requirements, fees and processes that create unnecessary burdens for businesses.
Under the proposed framework, MDAs will be required to adopt a “One Government” approach, ensuring that agencies coordinate directly with one another rather than shifting the burden of navigating government processes to applicants.
Where mandates overlap, the government intends to establish a system of “one lead agency, one process and one fee” to simplify regulatory procedures and reduce unnecessary costs.
The minister also directed agencies to strengthen the way regulations are introduced and implemented through stakeholder consultations, economic impact assessments and better coordination across government.
He said agencies must provide reasonable notice before introducing major policy or regulatory changes to allow businesses and investors to prepare adequately.
On public finance, Oyedele emphasised that government agencies must comply with existing financial regulations, particularly regarding revenue remittances and accountability.
“Legally due revenues must be remitted fully and on time,” he said, adding that operating surpluses must be paid into the Consolidated Revenue Fund and audited accounts submitted as required by law.
The minister said agency performance would no longer be assessed solely through internal administrative processes but by measurable improvements in service delivery and the business environment.
“Going forward, agency performance will be assessed by the speed of service delivery, compliance with published timelines and reductions in the cost of doing business,” the framework provides.
Oyedele announced that the Ministry of Finance would review submissions from participating agencies and provide specific feedback within four to six weeks.
He added that the draft framework would be circulated for further consultation, after which each agency would agree to measurable commitments whose implementation would be reviewed periodically.
The minister also stressed that the reform framework would apply to the Ministry of Finance itself, noting that government must address institutional bottlenecks that undermine efficiency.
These include slow approvals, delayed fund releases and outdated rules that affect the delivery of public services.
The initiative is part of the Federal Government’s broader efforts to strengthen accountability, improve public-sector performance and establish institutions that support private-sector growth.
The ministry said the engagement underscored the government’s commitment to “building institutions that enable businesses to invest, operate, expand and create jobs,” while strengthening accountability and efficiency across the public sector.
The statement was signed by Maryann Duke, Senior Special Assistant on Communications and Press Secretary to the Minister of Finance and Coordinating Minister of the Economy.