Global Competitiveness Report Reveals Business Growth -  FG
President Muhammadu Buhari.

The 2018 Global Competitiveness Report (GCR) of the World Economic Forum (WEF) is an indication that Nigeria’s economy is growing, according to the federal government.

Concise News had reported that the latest report ranked Nigeria as 115th out of 140 nations that were assessed.

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Speaking on the ranking, the Senior Special Assistant to the President on Industry, Trade, and Investment Jumoke Oduwole said it showed President Muhammadu Buhari’s effort at creating an enabling environment for businesses.

According to Oduwole, “a work of collaboration across many levels of government to progressively and sustainably make Nigeria an easier place in which to do business.”

He noted that “The country improved in 3 out of 4 pillars classified as “Enabling Environment” pillars – i.e., Institutions, Infrastructure, ICT adoption and macro-stability pillars.

“This recognizes the enabling business environment reforms of the Federal Government in making Nigeria an easier place to do business in.

“The Report further acknowledges the positive perception of the private sector for the government’s Doing Business reforms, by scoring improvements in the time and cost of starting a business in the country.

“The feedback from the private sector as surveyed by WEF ranks the ‘attitude of Nigerians for taking entrepreneurial risk’ as the 13th in world among the likes of Israel and the USA, which are currently in first and second positions respectively.”