Nigeria Improves In World Bank's 2019 Ease Of Doing Business Index (DBI)

Nigeria has recorded a significant improvement in World Bank's 2019 Doing Business Index released yesterday. 
On the back of the sustained efforts of the Presidential Enabling Business Environment Council (PEBEC), the report also acknowledged that Nigeria implemented four reforms, her second highest number of reforms since the beginning of the Doing Business Index.
 
Despite this feat, nine reforms were not considered for the cycle under review as they were either classified as too recent to have an impact on the business climate, or the private sector did not validate them – which impacted the ranking.
 
Commenting on the Report, Dr. Jumoke Oduwole, the Secretary of the Presidential Enabling Business Environment Council (PEBEC) and Senior Special Assistant to the Vice President on Industry, Trade & Investment, said: “The feedback from the World Bank has reaffirmed the commitment of the PEBEC to remove bureaucratic bottlenecks faced by businesses in Nigeria as we work towards improving the country’s competitiveness.”

“The response from the private sector has also underscored the need for increased engagement between reform-implementing organs of government and the private sector players to ensure we are able to record sustainable progress.

“We strongly believe that while Nigeria did not increase in the rankings, the country has indeed witnessed an improvement in the enabling business environment in the past year. This will be reflected as more reforms are accepted for Nigeria by the World Bank Index in subsequent years,” she further stated. 
 
Earlier this month, the World Bank had separately released its 2018 report on the ease of doing business reforms across the 36 states of the federation and the Federal Capital Territory based on four indicators.
 
A major highlight of the report was that 32 out of 36 states recorded improvements in their ease of doing business scores, recognising that states are increasingly working towards removing the constraints faced by businesses.
 
Culled from Nigerian Tribune.
Nigeria Improves In World Bank's 2019 Ease Of Doing Business Index (DBI) Nigeria Improves In World Bank's 2019 Ease Of Doing Business Index (DBI) Reviewed by onlyedunews.com on November 01, 2018 Rating: 5

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