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World Bank praises Buhari’s leadership for Nigeria’s improved Ease of Doing Business ranking

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World Bank projects 2.6% growth for Nigeria in 2017

The World Bank has praised the President Muhammadu Buhari-led administration for its determined leadership in pursuing economic reforms that led to the country’s improved rankings on the bank’s Doing Business index.

In the latest World Bank Doing Business index, Nigeria climbed up 24 places and was placed on the list of 10 most reformed economies globally.

According to the report, Nigeria made significant progress across several indicators comprising starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.

The World Bank delivered this commendation through its Country Director in Nigeria, Rachid Benmessaoud, when he led a team from the bank to formally present the 2018 Doing Business report to the Federal Government on Wednesday at the Presidential Villa, Abuja.

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In his remarks, Benmessaoud praised the efforts of the Federal Government, noting that the improvement was proof of the leadership provided by the Buhari administration, and the impact of its Ease of Doing Business reforms.

Benmessaoud added that Nigeria’s leap in the World Bank Doing Business rankings was “an important signal from Nigeria’s federal government’s effort, and also an important signal from Africa’s largest economy.”

He said, “We come to congratulate Nigeria and the Federal Government of Nigeria under the leadership of His Excellency, Muhammadu Buhari, for the reforms that have been undertaken that provided for Nigeria to jump into the indicators for doing business in Nigeria.

“This is a tribute to this council, which has been regularly meeting and focusing on the issues that influence doing business in Nigeria. And this council has done a great job under the leadership of His Excellency, the Vice President, Professor Yemi Osinbajo, SAN.”

The World Bank also pledged its support for the Federal Government in its bid to further the improvement of Nigeria’s investment climate.

Speaking on the development, Vice President Yemi Osinbajo who received the delegation, said “This shows that we can do better in whatever we commit ourselves to do in the country. There is nothing exceptional about Nigeria’s problems; it is just for us to find the best ways to resolve them”.

Osinbajo further praised the Presidential Enabling Business Environment Council (PEBEC) for its commitment and efforts since its inception.

“We are all excited about the latest ranking, it just shows we can do much better as a people,” he said.
The meeting was also attended by other ministers, including the Honourable Minister of Finance, Kemi Adeosun; Minister of Power, Works and Housing, Mr. Babatunde Fashola; and the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele.

PEBEC, which is chaired by the Vice President, was established by President Buhari in 2016, with a mandate to sustainably and progressively make Nigeria an easier place to do business.

The members of the council include the Minister of Industry, Trade & Investment, who is Vice Chair; while other PEBEC members are 10 Honourable Ministers, the Head of the Civil Service of the Federation and the CBN Governor.

It would be recalled that the Enabling Business Environment Secretariat (EBES), which became fully operational in October 2016, is coordinated by Dr. Jumoke Oduwole, the Senior Special Assistant to the President on Industry, Trade and Investment.

 

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0 Comments

  1. Abeni Adebisi

    November 9, 2017 at 10:14 am

    Since this is coming from world itself, then I can applaud the federal government of Nigeria fro doing so well towards improvement of Nigeria’s economy

    • Animashaun Ayodeji

      November 9, 2017 at 12:26 pm

      You have to applaud the government, the FG is really working hard to get Nigeria to a world class standard

  2. Animashaun Ayodeji

    November 9, 2017 at 12:25 pm

    This is for those who haven’t seen anything good about Buhari’s government, this is another proof that Baba is indeed working.

  3. Anita Kingsley

    November 9, 2017 at 1:22 pm

    How man you success new companies have emerged after Buhari became the president of Nigeria? I’m still surprised Nigeria’s ranking has improved!

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