Ease of Doing Business Index: Nigeria’ll Climb 45 Places, Says FG

  • Ease of Doing Business Index: Nigeria’ll Climb 45 Places, Says FG

The Federal Government has said Nigeria will improve its ranking by 45 places in the World Bank Ease of Doing Business Index in the next two years to achieve its goal of attaining the top 100 by 2020.

The Senior Special Assistant to the President on Industry, Trade and Investment, Dr Jumoke Oduwole, stated this after the presentation of the “2018 Making Business Work Report” of the Presidential Enabling Business Environment Council at a meeting of the council.

The World Bank Ease of Doing Business ranking for 2018 placed Nigeria at 145th position out of 190 countries, with the nation moving up by 24 points from the 169th position on the 2017 ranking.

Oduwole, who is Secretary of PEBEC, was quoted in a statement obtained on Monday as saying, “Such an ambitious goal requires accelerated and focused execution of the government’s Executive Order and National Action Plans.”

She added, “It is clear that Nigeria must now intensify its reform efforts; and PEBEC will continue to work closely with the public and private sectors to institutionalise its reforms, cascade them to state level, and refine and improve the business environment.”

She also said the government would introduce an omnibus bill on business facilitation in the second half of 2018 and early 2019 as part of efforts for the successful implementation of the Executive Order and National Action Plan aimed at making the business environment more conducive for investors.

Oduwole said the government aimed to make the reforms sustainable through several measures being put in place, as well as provide support reforms with a robust operating model to accelerate change and build capacity within the MDAs.

She said, “The council is also fostering cooperation between the MDAs and across states, the National Assembly and the private sector; ensuring effective coordination among all the relevant agencies to provide a unified view of implications and improvements; and ensuring proper planning to eliminate the critical binding constraints.

“In the second half of 2018 and into 2019, PEBEC will focus primarily on regulators, an omnibus bill on business facilitation, and consolidating gains for the economy through the deepening of the sub-national ease of doing business project.”

PEBEC, chaired by Vice-President Yemi Osinbajo, was inaugurated in July 2016 as the administration’s flagship initiative to reform the business environment, attract investment and diversify the economy to reduce the nation’s reliance on oil.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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