The Nigerian government Thursday said proactive measures have been put in place to improve the country’s 2018 ranking on the Ease of Doing Business.
Addressing states commissioners for trade and commerce in Abuja, Nigeria’s capital, Aminu Bisalla, Permanent Secretary in the Ministry of Industry, Trade and Investment, said a lot is being done to re-position the economy in areas where the nation has comparative advantage.
“As part of effort aimed at facilitating the ease of doing business in Nigeria, registration is now very easy; small businesses can now establish without facing any difficult situation,” Bisalla said.
“More states have lands that are accessible, business owners can use the land to get loan and I am very optimistic that the next ranking will see Nigeria progress tremendously,” the official added.
Bisalla told his audience that the government has realized that the engine of growth is the private sector and the only way to succeed in vitalizing the economy is to make it very easy for businesses to flourish.
In July 2016, Nigerian President Muhammadu Buhari established the Presidential Enabling Business Environment Council (PEBEC) with a mandate to remove bureaucratic and regulatory constraints to doing business in Nigeria. The Council is chaired by the Vice President Yemi Osinbajo.
Nigeria’s ranking in the latest report by the World Bank for 2017 improved marginally from 170 to 169 out of the 190 countries.
Nigeria’s overall global ranking improved by 44.63 percent points average, against 44.02 percent age points, or 0.61 percent in 2016. Enditem