By Progress Godfrey, Abuja

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has raised concerns over delays in business registration, warning that Nigeria risks losing investors to more efficient markets.

The commission called for urgent reforms to streamline investment processes and eliminate bureaucratic bottlenecks, in order to improve the country’s attractiveness to both local and foreign investors.

The position was conveyed in a statement issued on Monday following a visit by a delegation led by Chairman of RMAFC’s Investment Monitoring Committee, Enefe Ekene, to the Minister of Industry, Trade and Investment, Jumoke Oduwole, in Abuja.

Ekene said delays of up to two to three weeks for company registration were no longer competitive, stressing the need to align Nigeria’s processes with global best practices.

“The world has moved on. Investors expect seamless, one-stop-shop systems where processes such as company registration are completed within days, not weeks. If we fail to meet these expectations, we risk losing valuable investment opportunities,” he said.

He added that the commission must go beyond revenue distribution to support initiatives that drive economic growth.

“By improving the investment climate, we can enhance national earnings and promote sustainable development,” he said.

Responding, Oduwole acknowledged gaps in the investment ecosystem but pointed to ongoing reforms aimed at improving coordination and service delivery across government institutions.

She said collaboration with key agencies, including the Corporate Affairs Commission (CAC), is being strengthened to make business registration more efficient.

“There have been notable strides, but more remains to be done. Our focus is on deepening reforms to ensure efficiency, transparency and improved outcomes,” the minister said.