Nigeria ranks 131 out of 190 countries in a report by the World Bank based on its 2020 Doing Business Index. The country moved 15 places fr0m its last year position of 146.
The report names the African Giant as one of the top 10 most improved economies in Africa, and the world. This feat is coming for the second time in 3 years and the country is one of only two African countries on this list. 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.
indicators include but not limited to starting a business, registering property, getting construction
permits, getting electricity, enforcing contracts, and trading across borders.
The index captures 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. The report consequently features Lagos and Kano for Nigeria.
In a statement made by the Special Adviser to the President on Ease of Doing Business, Dr Jumoke Oduwole, she noted that “the movement of 15 places to 131 as well as the recognition being given to Nigeria as one of the top 10 most improved countries, who have implemented the most reforms this year, is significant because we weren’t even able to achieve some of the key reforms we had pursued, but what we have done so far is being recognised”.
According to her, “this validation confirms that our strategy is working and we will continue to push even harder to deliver more impactful reforms.”