Nigeria’s rank on the World Bank’s Ease of Doing Business has moved from 146 to 131 out of 190 countries. The report shows that the nation’s ranking increased by 15 steps from what is recorded in 2018.
The nation, which was one of the two African countries on the list, was also made the top 10 most improved economies in the world’s list, the second time in three years.
In a series of tweets, the Presidency announced this on its verified Twitter handle. According to the Presidency, the report acknowledged reforms carried out in some of the World Bank Doing Business indicator areas such as starting a business, registering property, getting construction permits, getting electricity, enforcing contracts, and trading across borders.
Speaking on the report, the Minister of Trade and Investment, Otunba Niyi Adebayo, explained that the steady rise in the ranking of Nigeria is a testament to the works that have gone into trade and business by the current administration.
He 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 4 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 (PEBEC) by President @MBuhari in July, 2016.”
Apart from Nigeria, Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Pakistan, Kuwait, China and India were also named as part of the top 10 reformers globally.
About World Bank Ease of Doing Business Index: The 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.
The index captures the 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.