Nigeria moves up 24 places in World Bank business rankings, Buhari releases statement

macfranc007 November 02, 2017 Nigeria News today & Breaking news ▷ Read Nigerian newspapers 24/7 Chika Jones

- News that Nigeria has moved up 24 places in the World Bank’s Doing Business latest rankings has led to celebration

- The recent rankings also placed Nigeria among the top 10 world reformers

- President Buhari has expressed happiness at this news saying it was a job well done

NAIJ.com earlier reported that President Muhammadu Buhari, on Tuesday, October 31, said that the administration led by the All Progressives Congress (APC) which he champions has recorded major successes since its emergence in 2015.

Buhari, who was at the APC National Executive Committee (NEC) meeting, also said he was set to make new appointments including those of boards.

One of the successes was illustrated in the latest Doing Business rankings released by the world bank, which rates the ease of doing business in each country.

According to the latest rankings, Nigeria has moved up 24 places. Special adviser to the president on media and publicity, Femi Adesina, released a statement saying:

"President Muhammadu Buhari welcomes most heartily the phenomenal improvement of Nigeria on the World Bank’s Doing Business latest rankings released Tuesday.

"Besides moving up 24 places in the rankings, Nigeria is also reported by the World Bank to be among the top ten reformers globally.

"The president congratulates all Nigerians on this very significant step forward which symbolizes the real success achieved by the Presidential Enabling Business Environment Council (PEBEC), the national assembly and state governments in making it easy for people to register their businesses speedily, obtain licenses and approvals from government agencies without encountering unnecessary bureaucratic bottlenecks."

President Buhari said: “It also reflects our efforts to make it easy for foreign business visitors to obtain visa on arrival, pass through our airports and do their businesses with ease and speed.”

According to Adesina, Buhari particularly commends PEBEC chaired by Vice President Yemi Osinbajo, for a job well done, stressing that he looks forward to even greater achievements for the nation.

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NAIJ.com earlier reported that Nigeria has always ranked significantly lower in the ease of doing business index.

Empirical research funded by the World Bank to justify their work show that the economic growth impact of improving these regulations is strong.

Nigeria has always ranked in the lower end when it comes to the ease of doing business. In 2017, Nigeria was number 169, ranking even below Sudan.

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