The Presidency says the World Bank has praised the economic direction of the Buhari administration.

Laolu Akande, Vice President Osinabjo’s spokesman, in a statement on Tuesday, said this commendation followed the work of the Presidential Enabling Business Environment Council (PEBEC).

He noted that the World Bank also ranked Nigeria higher in its annual Ease of Doing Business Rankings.

Akande quoted Osinbajo as saying government’s reforms, through the PEBEC, had provided an opportunity to significantly boost local and foreign investments.

Osinbajo spoke at a virtual meeting of the PEBEC to review the state of the reforms across a number of government agencies.

“This is a country that has so much resources and our administration has every opportunity to do something profound about investments in Nigeria. We must focus on how to get our business environment working”, the VP said.

Minister of Industry, Trade and Investment, Niyi Adebayo, expressed optimism that the challenges observed in sustaining the successes recorded in the reforms will be addressed.

Minister of the Federal Capital Territory (FCT), Mohammed Bello, called for sustenance of the PEBEC reforms.

Special Adviser to the President on Ease of Doing Business, Jumoke Oduwole, said the Enabling Business Environment Secretariat (EBES) will continue to drive PEBEC mandate through extensive collaborations.

The official confirmed that the National Action Plan 5.0 has been extended to July 29, 2020.