Nigeria’s Ease of Doing Business, Best Since 2011’

By October 28, 2019 Investment News

The Lagos Chamber of Commerce and Industry has declared that with the current ranking of Nigeria on the World Bank Ease of Doing Business, the country has moved up 39 places in five years.

Nigeria recently jumped 15 places up the ladder on the 2020 World Bank Doing Business report, moving from 146th position in 2018 to 131st position.The chamber in a statement on Sunday declared that the current ranking was Nigeria’s best performance since 2011.

The statement signed by its Director General, Mr Muda Yusuf, the LCCI commended the government for the feat, saying that it reflected the efforts of the Presidential Enabling Business Environment Council.

“With this report, Nigeria has moved 39 places in five years, from 170th position in 2015, up to 131st position,” the statement read in part.

The chamber however observed from the report that sampled cities were not holistic, saying that the World Bank captured the business environment using Lagos and Kano (77 per cent sample drawn from Lagos, 23 per cent from Kano).

The LCCI expressed the view that the samples from the two cities might not be broad enough, considering the fact that the combined Micro, Small and Medium Enterprises in Lagos and Kano were less than 15 per cent of total MSMEs (41 million) in Nigeria.

 

Source: Punch