Nigeria’s Ranking Improves on Global Ease of Doing Business

• Nigeria’s Ranking Improves on Global Ease of Doing Business

The number of initiatives implemented by President Muhammadu Buhari to ensure ease of doing business in Nigeria has stated crystalizing as the country moved up 15 spots on the new Ease of Doing Business index.

The World Bank’s Ease of Doing Business released on Thursday shows Nigeria rose from 146 position in 2018 to 131 position in 2019.

In the past four years, Nigeria’s position has steadily improved on the index, according to the new Ease of Doing Business report.

The report showed the country is one of the top 10 most improved economies in the world as the country has consistently improve in the last three years. Therefore, Nigeria is one of the two African nations to be thus ranked.

Also, Nigeria is one of the top 10 most improved economies globally and one of the two African nations to be thus ranked.

Mr Niyi Adebayo, the Minister of Trade and Investment, said, “The steady improvement in Nigeria’s ease of doing business score and rank is a testament to the reforms implemented by this administration over the past four years in line with the reform agenda being implemented at national and sub-national levels across the country since the establishment of the Presidential Enabling Business Environment Council by President Buhari in July, 2016.”

A total of 190 countries were based on their business policies that determine Ease of Doing Business in each of the countries, out of which Nigeria came emerged 131 in 2019.

“The Ease of Doing Business Index is an annual ranking that objectively assesses prevailing business climate conditions across 190 countries based on 10 ease of doing business indicators. It captures ease of doing business reforms that have been validated by the private sector and offers comparative insights based on private sector validation in the two largest commercial cities in countries with a population higher than 100 million. Lagos and Kano States were profiled.“