Human Rights

NIGERIA PLEASED DECLINING TREND OF ITS WORLD BANK RANKING CHECKED

Nigeria’s Presidency says the World Bank’s Doing Business 2017 Report is an indication that the government’s reform initiatives are yielding positive results.

“The Buhari Administration is gratified that the various reform initiatives put in place towards instituting a positive business environment is slowly but gradually yielding some dividends,” Vice Presidential Spokesman Laolu Akande said in a statement issued here Thursday.

“Nigeria’s ranking in the World Bank’s Ease of Doing Business remains static, halting a falling trend in the past several years,” he said, noting that the latest report ranked Nigeria at 169 out of 189 countries in the overall Ease of Doing Business ranking.

He described the ranking as “a positive indication that the focus and tenacity of President Muhammadu Buhari to reposition the nation’s business and economic environment is working and on course”.

“While Nigeria’s position remains the same as at last year on the index ranking, it is encouraging that Nigeria has recorded some positive outlooks in four critical areas of the ranking,” he said, adding that these areas are: Starting a Business; Dealing with Construction Permits; Registering Property and Access to Credit.

According to the World Bank report, the improvements noted mean that last year, Nigeria’s business regulatory environment as captured by the Doing Business indicators improved slightly in absolute terms. “The country is decreasing the gap with the global regulatory frontier,” the report said.

Source: NAM NEWS NETWORK.