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Nigeria’s World Bank Ranking On Business Improves.

Dele Akintilo

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The recently released World Bank report Tagged, “Doing Business 2015: Going Beyond Efficiency,” is a pointer to the fact that the various economic reform exercises of the past and present dispensation(s) in Nigeria are yielding positive results and that some areas of the economy needs to be worked upon.

The World Bank group report ranks Nigeria 170th out of 189 countries under survey on the ease of doing business. This is an improvement as the country moved up five places when compared to her rank (175th) last year.

Nigeria also ranks 129th on the ease of starting a business, an improvement over last year’s 138th position. In the area of dealing with construction permits, Nigeria drops 3 places by occupying 171st position. As far as property registration is concerned, Nigeria maintain185th position she occupied last year.

Nigeria record and astronomical rise on access to credit ranking as it moved from 125th position to 52nd position in the recent ranking. Nigeria however, dropped a place on minority investors’ protection ranking as she drops from the 61st position to the 62nd position.

The report reveals a higher level of tax evasion in Nigeria as Nigeria now ranks 179th on paying taxes compared to her 177th position last year.

 

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