The World Bank published recent “Ease of Doing Business” pecking order, Nigeria along with Togo was listed under the category of economies with the most notable improvement in business climate In the latest World Bank Ease of Doing Business report 2020, the World Bank named Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Pakistan, Kuwait, China, India and Nigeria as countries which have made remarkable progress in setting up business units, based on ten parameters like acquisition of land, getting power connection, efficiency of the officials in clearing files etc. .
Overall, Nigeria emerged 131 out of 190 countries, up 15 places from 146th position last year, or 56.9 per cent point score. The new score is about 3.5 per cent better than 53.4 per cent point score recorded in 2019. Nigeria and Togo are the only two economies among the top improvers in sub-Saharan Africa for the second year in a row. The report said Nigeria conducted reforms impacting six key indicators, such as making the enforcement of contracts easier, protecting minority investors, dealing with construction permits, protecting minority investors, starting a business, dealing with construction permits.
President Muhammadu Buhari hailed the rare feat achived by Nigeria. This is the second time, in three years, Nigeria is getting this coveted recognition. Nigeria is only one of the two countries to be in the list and the other being Togo. Nigeria now has leaped 39 places in the pecking order since 2016, which the analysts opine is in good pace .
