President Muhammadu Buhari has said that Nigeria’s rise in the latest World Bank’s Ease of Doing Business index report shows that the country’s strategy is working.
Concise News reports that the report, which was released Thursday, showed that out of 190 countries, Nigeria climbed from 146th position to 131st.
The report also named Nigeria one of the top 10 most improved economies in the world for the second time in three years.
President Buhari, in statement issued by his media aide Femi Adesina, noted that “the movement of 15 places to 131 as well as the recognition being given to Nigeria as one of the top 10 most improved countries, that have implemented the most reforms this year, is significant because we were not even able to achieve some of the key reforms we had pursued, but what we have done so far is being recognized. This validation confirms that our strategy is working and we will continue to push even harder to deliver more impactful reforms.”
As for Nigeria’s Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, he said that “the steady improvement in Nigeria’s ease of doing business score and rank is a testament to the reforms implemented by this Administration over the past four years in line with the reform agenda being implemented at national and sub-national levels across the country since the establishment of the Presidential Enabling Business Environment Council (PEBEC) by President Muhammadu Buhari in July, 2016.
“The PEBEC works towards the fulfillment of the projections of the Economic Recovery and Growth Plan (ERGP 2017-2020), which is striving to deliver sustainable economic growth in Nigeria by restoring growth, investing in our people, and building a competitive economy as we work towards delivering Mr President’s mandate of bringing 100 million people out of poverty. The 2020 Doing Business report from the World Bank has reaffirmed the commitment of the newly constituted PEBEC to making Nigeria a progressively easier place to do business and removing the bureaucratic constraints to doing business in the country as we forge ahead in this Next Level.”
This news medium understands that the Doing Business Index is an annual ranking that assesses prevailing business climate conditions across 190 countries based on 10 ease of doing business indicators.
The index captures ease of doing business reforms that have been validated by the private sector, and offers comparative insights based on private sector validation in the two largest commercial cities in countries with a population higher than 100 million.