Ease of doing business: World Bank ranks Nigeria 169 of 189

The latest report from the World Bank has placed Nigeria as 169 out of 189 countries surveyed on the ease of business worldwide, moving the country up one step.
The bank stated this in a statement issued by the Head of Communications, World Bank Nigeria, Mr Obadiah Tohomdet, on Tuesday in Abuja.
The bank noted that the report takes into consideration the ease of obtaining construction permits, getting electricity, enforcing contracts, registering property and trading across borders among other parameters.
In the latest report, Nigeria had improved in the ranking from 170 in 2014 to 169. It also showed that the Sub-Saharan African economies were among the world’s top improvers of business climate.
“The region, however, ranks poorly in the areas of trading across borders and registering properties. “Mauritius ranks best in the region, with a global ranking of 32, performing particularly well in the areas of paying taxes and enforcing contracts.
“In Mauritius, it takes only 152 hours for entrepreneurs to pay taxes, compared to 261 hours globally.

Read also: World Bank: Nigeria now 170th on ease of doing business

“Rwanda has the next best ranking in the region, with a global ranking of 62. Ten years ago, an entrepreneur in Rwanda took 370 days to transfer property. Now, it takes 32 days which is less than in Germany” the report stated.
Botswana ranked 72; South Africa 73; Seychelles 95; Kenya 108, and Uganda 122 this year.
The report also show that the Sub-Saharan African region remains the shining light in implementing reforms under the Getting Credit indicator, adding that this was a welcome development for small businesses in the region.
“Despite great improvements, governments in Sub-Saharan Africa will need to continue working on closing the gap in many key areas that impact the ease of doing business, especially increasing access to reliable electricity.
“The region’s economies have room for improvement in the reliability of supply and transparency index of the getting electricity indicator and the quality of land administration index of the registering property indicator”, the report said.

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