The reforms effort of the immediate past administration of President Goodluck Jonathan may have yielded some dividend as Nigeria moved up five places in the latest ranking by the World Bank Group on the ease of doing business.
The World Bank ranked Nigeria 170th among 189 countries survey, this shows an improvement of 2.9 per cent on the 175 position it occupied last year.
Also, Nigeria was ranked 129 on the ease of starting a business (138 last year), on dealing with construction permits it was ranked 171 as against 168 last year. On registering property it remained 185th as it was the previous year.
The country however improved immensely on access to credit ranking as it moved from 125 in 2014 to 52nd position in the current ranking.
Nigeria fell by one basis point on protecting minority investors ranking as it moved from the 61st position last year to the 62nd position this year. On paying taxes, Nigeria was ranked 179 as against 177 in 2014.
The report showed that Singapore was the best country in the world to do business, while Mauritius remained the best in Africa with a ranking of 28.
