Nigeria moves up 24 points in world’s ease of doing business ranking

Nigeria moves up in World Bank Business ranking

According to World Bank 2018 reports, it has been confirmed that Nigeria have moved from 169th to 145th in the world’s ease of doing business ranking.

Other countries who also improved their business environment through numerous reforms includes;  El Salvador, India, Malawi, Brunei Darussalam, Kosovo, Uzbekistan, Thailand, Zambia and Djibouti.

The countries together implemented a total of 53 business regulation reforms across 10 of the areas measured by doing business, some of which are areas of getting credit, starting a business, dealing with construction permits and paying taxes.

Nigeria is currently ranked 130th in terms of Starting a Business, compared to its prior position of 138th, she is also ranked 147th in terms of Getting Construction Permit and  172nd in  getting electricity, compared to last years  174th and 180th positions.

Similarly, on the Registration of Property ranking, Nigeria moved from 182nd position in 2017 to 179 in the current ranking, she also moved from 32nd to 6th and from 182nd to 171th in access to Getting Credit and Paying Taxes respectively.

According to a statement from the bank, the efffects of these reforms in revitalizing economies in the Sub-Saharan region is something worth celebrating.

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