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Nigeria Up 24 places To 2013 Levels In World Bank Doing Business Report

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Tuesday, October 31, 2017   02.37PM / World Bank 

Highlights

1.  New Zealand is first on ease of doing business for the second consecutive year

2.  Nigeria moves up 24 points to 145 on the back of business reforms

3.   3,188 reforms implemented in 15 years since the inception of Doing Business

4.   During the past year, 264 reforms have been carried out in 119 economies

5.  Sub-Saharan Africa carried out 83 reforms, a record number for the second consecutive year

6.  New case studies on starting a business, dealing with construction permits , registering property and resolving insolvency

 

After a poor show last time, Nigeria moved up 24 positions to rank 145th in Global Ease of Doing Business, according to today’s release from the World Bank. 

Recall that the Muhammadu Buhari government vowed to remove red-tape, eliminate bureaucratic bottlenecks, procedural delays, graft and make Nigeria an attractive investment destination for serious entities; setting a target of moving from 169 into 149 in 2017-18 and leapfrogging into the top 100 in the Doing Business survey by 2030. 

To deliver on this, it set up a 60-day national action plan covering key priority areas under what is known as The Presidential Enabling Business Environment Council (PEBEC). 

This action plan was closely followed by the release of the scorecard on the 60-day action plan to measure the progress and achievements. The report highlighted 31 completed reforms across eight priority indicators. The scorecard specifically covered the success achieved within the 60 days period from February 21, 2017 to April 21, 2017.  Ease of Doing Business in Nigeria: PEBEC Completes 31 Reforms in 60 Days

Steps Taken – Osinbajo-Led PEBEC 

PEBEC was directly in charge of action plans to achieve the goals of government and executed/implemented through its Enabling Business Environment Secretariat (EBES). 

Many giant steps have been taken by government to position Nigeria as a business-friendly nation. Some of the key initiatives are discussed in this June 6th report by Deloitte – “Nigeria's Business Climate and Ease of Doing Business Initiatives”.
 

This is a Significant Development for Nigeria 

Doing Business 2018: Reforming to Create Jobs, a World Bank Group flagship publication, is the 15th in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 190 economies—from Afghanistan to Zimbabwe—and over time. 

Doing Business 2018: Reforming to Create Jobs, a World Bank Group flagship publication, is the 15th in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 190 economies—from Afghanistan to Zimbabwe—and over time.

 

Doing Business measures regulations affecting 11 areas of the life of a business. Ten of these areas are included in this year’s ranking on the ease of doing business: 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. Doing Business also measures labor market regulation, which is not included in this year’s ranking.

 

Data in Doing Business 2018 are current as of June 1, 2017. The indicators are used to analyze economic outcomes and identify what reforms of business regulation have worked, where and why.

 

Main Findings

Doing Business 2018: Reforming to Create Jobs finds that entrepreneurs in 119 economies saw improvements in their local regulatory framework last year. Between June 2016 and June 2017, the report, which measures 190 economies worldwide, documented 264 business reforms.

 

Reforms reducing the complexity and cost of regulatory processes in the area of starting a business and getting credit were the most common in 2016/17. The next most common reforms were in the area of trading across borders. Read about business reforms.

  • Brunei Darussalam, Thailand, Malawi, Kosovo, India, Uzbekistan, Zambia, NigeriaDjibouti and El Salvador were the most improved economies in 2016/17 in areas tracked by Doing Business. Together, these 10 top improvers implemented 53 regulatory reforms making it easier to do business.
  • Economies in all regions are implementing reforms easing the process of doing business, but Europe and Central Asia continues to be the region with the highest share of economies implementing at least one reform—76% of economies in the region have implemented at least one business regulatory reform, followed by South Asia and Sub-Saharan Africa.
  • The report features four case studies in the areas of starting a business, dealing with construction permits, registering property and resolving insolvency, as well as an annex on      labor market regulation. See all case studies. 

The Rankings – 2018 Table 

Doing Business – Sub Sahara Rankings

 Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

 Proshare Nigeria Pvt. Ltd.

Source: World Bank Doing Business 2018


 Proshare Nigeria Pvt. Ltd.

Source: World Bank Doing Business 2018


 Proshare Nigeria Pvt. Ltd.

Source: World Bank Doing Business 2018


Previous Rankings

 Proshare Nigeria Pvt. Ltd.

 Source: World Bank Doing Business 2017


 Proshare Nigeria Pvt. Ltd.

Source: World Bank Doing Business 2017


 Proshare Nigeria Pvt. Ltd.

 Source: World Bank Doing Business 2017


Related Links & Resources 

1.   View main findings | Download report (PDF, 15MB)

2.   Ranking of economies - Doing Business - World Bank Group

3.   Doing Business in Nigeria - World Bank Group

4.   Data from the Doing Business Project - World Bank Group

5.   Ease of Doing Business in Nigeria | 2008-2017 | Data | Chart | Calendar

 

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