Nigeria ranked 169 in ease of doing business

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The World Bank ranked Nigeria 169th out of 189 countries across the globe in a report released in Washington on Tuesday.

The Doing Business 2016 Report measured the ease of doing business across different countries of the world and track such indices as ease of registering property and access to electricity.

In the report, Nigeria came one step higher than the previous year when it emerged 170th.

The country, mentioned as one of the largest economies on the continent, came behind several others in sub-Saharan Africa.

These include Mauritius, which had the region’s highest ranking at 32; Rwanda (62); Botswana (72) and South Africa (73). Others ahead of Nigeria are Kenya (108); and Uganda (122).

Countries with the region’s lowest rankings are Eritrea (189), South Sudan (187), and the Central African Republic (185).

A statement issued by the bank said reforms implemented in sub-Saharan Africa accounted for about 30 per cent of the 231 reforms implemented worldwide during the past year.

The region also boasted half of the world’s top 10 improvers, i.e. countries that implemented at least three reforms and moved up on the global rankings scale, with Uganda, Kenya, Mauritania, Benin and Senegal prominent on the list.

The region stood out in implementing reforms under the getting credit indicator. Of the 32 reforms made globally, 14 were carried out in sub-Saharan Africa, with Kenya and Uganda making significant progress, the report stated.

“Despite great improvements, governments in sub-Saharan Africa will need to continue working on closing the gap in many key areas that impact the ease of doing business, especially increasing access to reliable electricity and providing effective commercial dispute resolution – two areas where the region scores the lowest globally,” said the Manager of the Doing Business project, Rita Ramalho.

Culled from: http://punchng.com/2015/10/1675

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