Ease of doing business nigeria news

Here are some recent news articles and updates on the Ease of Doing Business (EDB) in Nigeria:

Recent Developments:

  1. Nigeria Improves in Ease of Doing Business Ranking: Nigeria has improved its ranking in the World Bank's Ease of Doing Business Index (EDBI) from 146th in 2018 to 131st in 2020, according to the World Bank's latest report. (Source: Vanguard News)
  2. FG Launches Online Platform for Business Registration: The Federal Government has launched an online platform for business registration, aimed at reducing the time and cost of registering a business in Nigeria. (Source: ThisDay Live)
  3. Nigeria's EDB Index Rises to 131st Position: Nigeria has risen to 131st position in the World Bank's Ease of Doing Business Index (EDBI) 2020, up from 146th position in 2018. (Source: Leadership Newspaper)
  4. FG to Establish One-Stop Shop for Business Registration: The Federal Government has announced plans to establish a one-stop shop for business registration, aimed at reducing the time and cost of registering a business in Nigeria. (Source: The Nation Newspaper)

Challenges and Concerns:

  1. Corruption Remains a Major Challenge: Corruption remains a major challenge to doing business in Nigeria, with many entrepreneurs citing bribery and extortion as major obstacles. (Source: BusinessDay)
  2. Power Outages and Inconsistent Electricity Supply: Power outages and inconsistent electricity supply remain a major challenge to businesses in Nigeria, with many companies relying on generators to power their operations. (Source: The Guardian)
  3. Infrastructure Deficiencies: Nigeria's infrastructure, including roads, ports, and airports, remains deficient, making it difficult for businesses to operate efficiently. (Source: Premium Times)
  4. Bureaucratic Red Tape: Bureaucratic red tape and regulatory hurdles continue to hinder the ease of doing business in Nigeria, with many entrepreneurs citing lengthy and complex processes for obtaining permits and licenses. (Source: Daily Trust)

Reforms and Initiatives:

  1. National Action Plan for Ease of Doing Business: The Federal Government has launched a National Action Plan for Ease of Doing Business, aimed at improving the business environment and reducing bureaucratic hurdles. (Source: The Punch)
  2. Digitalization of Business Registration: The Federal Government has launched a digitalization of business registration, aimed at reducing the time and cost of registering a business in Nigeria. (Source: ThisDay Live)
  3. Establishment of Special Economic Zones: The Federal Government has established special economic zones (SEZs) to promote industrialization and economic growth, with the aim of creating a favorable business environment. (Source: Leadership Newspaper)
  4. Improvement in Tax Administration: The Federal Inland Revenue Service (FIRS) has introduced reforms aimed at improving tax administration and reducing the burden on taxpayers, including the introduction of a new tax regime for small businesses. (Source: BusinessDay)

These are just a few examples of the recent news and updates on the Ease of Doing Business in Nigeria.