The Vice President, Yemi Osinbajo, says Nigeria’s ranking in the latest World Bank Doing Business report is impressive and is also proof that if we could committedly work together, the economy of the country will do better.
Osinbajo said this when a team from the World Bank presented the 2018 Doing Business report to the Federal Government at the Presidential Villa, Abuja. Nigeria climbed up 24 places in the Doing Business index and was placed on the list of 10 most reformed economies globally. This report also revealed that Nigeria made significant progress across several indicators comprising starting a business, dealing with construction permits, getting electricity, registering property and getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.
“This shows that we can do better in whatever we commit ourselves to do in the country. There is nothing exceptional about Nigeria’s problems; it is just for us to find the best ways to resolve them,” the Vice President said.
Praising the Presidential Enabling Business Environment Council (PEBEC) for its commitment and efforts, the Vice President said, “we are all excited about the latest ranking, it just shows we can do much better as a people.” He also took to his twitter account to say, “I must congratulate the PEBEC team and the reform leaders.”
In this regard, the Country Director of the World Bank, Mr Rachid Benmessaoud, commended the efforts of the Federal Government and said, “the improvement is proof of the leadership provided by the Buhari administration and the impact of its Ease of Doing Business reforms.” He also stated that “Nigeria’s leap in the World Bank Doing Business rankings was an important signal from the Federal Government’s effort and also an important signal from Africa’s largest economy.
“We come to congratulate Nigeria and the Federal Government under the leadership of Muhammadu Buhari for the reforms that have been undertaken that provided for Nigeria to jump into the indicators for doing business in Nigeria.
“This is a tribute to this council, which has been regularly meeting and focusing on the issues that influence doing business in Nigeria.
“And this council has done a great job under the leadership of the Vice President, Prof. Yemi Osinbajo,’’ he added.
PEBEC, chaired by the Vice President, was established by President Buhari in 2016, with a mandate to sustainably and progressively make Nigeria an easier place to do business. Members of the council include the Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah, who is Vice Chairman; 10 Ministers; the Head of the Civil Service of the Federation; and the CBN Governor.