World bank lists nigeria among top 10 reformers
That's great news!
Yes, the World Bank has indeed listed Nigeria as one of the top 10 reformers in its 2020 Doing Business Report. The report assesses the ease of doing business in 190 economies around the world, and Nigeria's ranking has improved significantly over the years.
According to the report, Nigeria moved up 15 places to 131st position out of 190 economies, with a total of 14 reforms implemented in the past year. These reforms aimed to improve the business environment, increase transparency, and reduce bureaucracy.
Some of the key reforms implemented in Nigeria include:
- Simplification of the process for starting a business, reducing the number of procedures and time required.
- Streamlining of the process for obtaining construction permits, reducing the number of procedures and time required.
- Improvements in the process for registering property, reducing the number of procedures and time required.
- Simplification of the process for getting electricity, reducing the number of procedures and time required.
- Improvements in the process for paying taxes, reducing the number of procedures and time required.
These reforms are expected to have a positive impact on the Nigerian economy, making it easier for businesses to operate and invest in the country. The World Bank has also praised Nigeria's efforts to improve the business environment, saying that the country has made significant progress in recent years.
It's worth noting that while Nigeria's ranking has improved, there is still much work to be done to improve the business environment and attract more foreign investment. However, this progress is a positive step forward and a testament to the government's commitment to reform and improve the economy.