The World Bank has ranked Nigeria 170th among 189 countries in the annual report on the ease of doing business. This is an improvement of 2.9% on the 175 position it occupied last year, but it is still a national shame.
Tagged, “Doing Business 2015: Going Beyond Efficiency”, the report showed the following information:
- Nigeria is ranked 129th on the ease of starting a business (138th last year).
- Nigeria is ranked 171st on dealing with construction permits (168th last year).
- Nigeria is ranked 52nd on access to credit ranking (125th last year).
- Nigeria is ranked 62nd on protecting minority investors (61st last year).
- Nigeria is ranked 179th on paying taxes (177th last year).
- Mauritius is ranked 28th on the best country in the world to do business with (the highest ranking in Africa).
According to This Day, “this measure shows the distance of each economy to the “frontier,” which represents the best performance observed on each of the indicators across all economies in the Doing Business sample since 2005. This allows users both to see the gap between a particular economy’s performance and the best performance at any point in time and to assess the absolute change in the economy’s regulatory environment over time as measured by doing business.”
The reforms effort of the immediate past administration of President Goodluck Jonathan may have yielded some dividend, however we still have huge room for improvement on a global scale.