World Bank Names Nigeria Among Top 20 ‘improvers In Doing Business’

he World Bank Doing Business (DB) team has announced Nigeria as one of the top-20 improvers in doing business out of 190 countries.

Jumoke Oduwole, Special Adviser to the President, Ease of Doing Business, disclosed this a statement on Friday, September 27, in Abuja.

She said that the announcement came ahead of the Oct. 24 release of the 2020 World Bank Doing Business rankings.

Oduwole said that the World Bank Doing Business Report was an objective assessment of prevailing business environments based on a number of ease of doing business indicators.
She explained that the report assesses doing business conditions in the two largest commercial cities of Lagos and Kano.

“The World Bank’s announcement acknowledges reforms spearheaded by the Presidential Enabling Business Environment Council(PEBEC) in the areas of operationalising a new electronic platform that integrates the tax authority and the Corporate Affairs Commission (CAC).

“It also acknowledges reforms carried out in some of the World Bank Doing Business indicator areas such as starting a business; registering property, getting construction permits, getting electricity, enforcing contracts; and trading across borders.

“The CAC also upgraded its name reservation platform and, in Kano; there is now an electronic platform for registering business premises online, eliminating the need to appear in person.

“In Lagos; land administration was made more transparent following the digitisation of cadastral plans in a geographic information system; digital copies of cadastral plans are now easily obtainable.

“Nigeria also made getting electricity easier by allowing certified engineers to conduct inspections for new connections. Initiatives also made commercial litigation of smaller cases more efficient.

“The Chief Judges in Lagos and Kano issued practice directions for small claims courts introducing pre-trial conferences and limit adjournments.”

She said that over the past three years, Nigeria’s score had steadily improved in the World Bank Doing Business Report; after years of decline in both score and ranking in the years preceding 2016.

Oduwole, who is also PEBEC Secretary, said that in 2017, Nigeria moved up by an unprecedented 24 places on the Doing Business rankings.

The presidential aide said that for the first time; Nigeria was also recognised as one of the top 10 reformers in the area of doing business that year.

from 1stnews