How Nigeria is improving its ease of doing business
Nigeria is positioned at 169th out of 189 countries in the World Bank’s ease of doing business report, one spot above its previous position. In light of this ranking, the World Bank has proposed some strategies for Nigeria and to help it improve.
The most recent ease of doing business index came out in October 2015 and has a forward looking evaluation, basically a guide for investors for the following year.
This also come after earlier in the month Lagos State government revealed its Lagos Global website to provide investment services to stakeholders to encourage foreign direct investment and the ease of doing business.
“The average rank for a Sub-Saharan African economy is 143, this is out of 189 economies globally – if you had to break down these averages per region, you’d see and observe that this is the lowest regional average you see on the index,” said Cemile Hacibeyoglu, Doing Business Report expert.
She adds that Mauritius maintained its top position as the highest ranked African economy on the index, placed in the 32nd position.
While West Africa’s Nigeria also made notable strides on the index.
“When you look you actually see there is room for improvement in many areas – in some of the areas Nigeria’s performance is very exemplary.”
The country was also ranked 20th in the category of protecting minority investors.
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