President Muhammadu Buhari said Thursday that the strategies adopted by his administration in the ease of doing business in the country are working perfectly.
The president was reacting to the country’s rise in the World Bank’s latest ranking in the ease of doing business where Nigeria moved up by 15 spots to 131st position out of 190 countries across the globe.
Nigeria was ranked 146th in the Ease of Doing Business Index (DBI) last year.
The World Bank DBI report, which was released Thursday, also named Nigeria as one of the top 10 most improved economies in the world for the second time in three years.
Nigeria, according to a statement issued by the Special Adviser to the President on Media and Publicity, Femi Adesina, is one of only two African countries to make the highly prestigious list.
He said with this year’s leap, Nigeria has improved an aggregate of 39 places in the World Bank Doing Business index since 2016.
President Buhari said: “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, that have implemented the most reforms this year, is significant because we were not even able to achieve some of the key reforms we had pursued, but what we have done so far is being recognized.
“This validation confirms that our strategy is working and we will continue to push even harder to deliver more impactful reforms.”
With the impending ratification of the Companies and Allied Matters Bill and the introduction of the Business Facilitation (Omnibus) Bill, 2019 in view, along with other pending and ongoing regulatory, judicial and sub-national reforms, the president declared that “the announcement by the World Bank indicates that our mandate to move into the top 70 doing business destinations by 2023 remains achievable.”
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