PassingShot:
It's not a surprise to read news like this. It is what we've known about our country/economy. It is a result of what we did and failed to do in the sixteen years of poor governance largely brought on our nation by OBJ and GEJ.

We hope that this will change within the next few years of this new administration.



Why not borrow sense?

When will you get over the loss of GEJ's presidency?

PassingShot:
It's not a surprise to read news like this. It is what we've known about our country/economy. It is a result of what we did and failed to do in the sixteen years of poor governance largely brought on our nation by OBJ and GEJ.

We hope that this will change within the next few years of this new administration.



Why not borrow sense?

When will you get over the loss of GEJ's presidency?

engrolawei:

Stop that lie of yours. The Economy during GEJ's Government was the best in Africa. I thouth by now, one dollar would be at least 20 naira.

JayRise:
hmm...Buhari where art thy ministers? This nation needs to move forward CC : OBJ, JAGABAN

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Fynestboi:
ranks nation 169th globally

Mauritius, Uganda, Benin, Senegal among best

Despite sustained efforts by the federal government to improve Nigeria’s business environment, indications showed that most of the efforts had not impacted positively on the nation’s business climate with its ranking at the 169th position among the 189 countries assessed on economic reforms implementation.

The ‘Doing Business 2016: Measuring Regulatory Quality and Efficiency’ report published yesterday by the World Bank showed that Nigeria moved just a point higher than the 2015 position of 170th in the global rankings.

The country also scored poorly in Distance to Frontier assessment index, scoring 44.69 per cent in 2016 as against the 43.56 per cent in 2015.

During the period under review, the country was reported to have carried out two reforms more than it did last year.

Of the 35 countries covered by the report in Sub-Saharan Africa, Nigeria came 25th, with Mauritius, Uganda, Kenya, Mauritania, Benin and Senegal ranking among the top best improvers.

The World Bank Group’s annual ease of doing business measurement indicated that Sub-Saharan Africa economies continued to implement reforms to improve the business climate for domestic entrepreneurs, with members of the Organisation for the Harmonization of Business Law in Africa, OHADA, particularly active during the past year.

According to the report, out of the 69 reforms carried out in 35 economies in Sub-Saharan Africa, 14 of the OHADA’s 17 member countries implemented 29 reforms.

This is even as the report showed that reforms implemented in Sub-Saharan Africa accounted for about 30 per cent of the 231 reforms implemented worldwide during the past year.

The Breton Woods institution disclosed further that the region also boasted half of the world’s top 10 improvers, that is, countries that implemented at least three reforms and moved up on the global rankings scale.

Amongst the improvers in the continent are Uganda, Kenya, Mauritania, Benin and Senegal.

The report noted further that the region stood out in implementing reforms under the Getting Credit indicator, adding that of the 32 reforms made globally, 14 were carried out in Sub-Saharan Africa, with Kenya and Uganda making significant progress.

Commenting on the report findings, Rita Ramalho, Manager of the Doing Business project, noted that “despite great improvements, governments in Sub-Saharan Africa will need to continue working on closing the gap in many key areas that impact the ease of doing business, especially increasing access to reliable electricity and providing effective commercial dispute resolution – two areas where the region scores the lowest globally.”

Clarifying further, the bank reported that on Getting Electricity, it required an average of 130 days for an entrepreneur to get a new electricity connection and, once connected, customers experience frequent outages lasting almost 700 hours per year, thereby making Sub-Saharan Africa the region with the highest duration of outages globally.

This is even as the region was also ranked poorly in the areas of Trading Across Borders and Registering Property.

At the continental level, Mauritius was reported to rank best in the region, with a global ranking of 32, performing particularly well in the areas of Paying Taxes and Enforcing Contracts.

It takes only 152 hours for entrepreneurs to pay taxes in the country, compared to 261 hours globally.

The bank stated further: “Rwanda has the next best ranking in the region, with a global ranking of 62. Rwanda also implemented the highest number of reforms in the region, with six reforms carried out in the past year. The country ranks second in the world on the Getting Credit indicator and 12th in the world on the Registering Property indicator.

“Ten years ago, an entrepreneur in Rwanda took 370 days to transfer property. Now, it takes 32 days which is less than in Germany. Botswana, with a global ranking of 72, South Africa






http://nationalmirroronline.net/new/world-bank-raises-alarm-over-nigerias-economy/



Cc: Lalasticlala, Dominique

steph2sweet:
We are in for a rough ride with mumuhadu buhari.

philips70:
When Ngozi, Emefiele and co were busy deceiving Jonathan and Nigerians this is exactly where we have been even till this moment.

denko:
Bro you are now in Gvt deal with it, stop referring to Gej he has move on for your information. You promised heaven on earth when campaigning, reminding you abt your promises you resort to blackmail and violennce.

speedyGonzales:


Insecurity and lack of constant electricity... if we could resolve those two issues, big companies will be trooping to set-up shops in Nigeria.

the federal government should tackle the two issues, instead of shouting corruption up and down the whole place... the Nigerian police and justice system is a failure that is why the is corruption. tackle get a better better police and justice system and introduce new polices that check corruption.

IF I WERE A PRESIDENT TODAY, I will declare emergency on power generation and security of lives and property, for the federal government to tackle and I will ask state government to focus on large scale agriculture development forget other things they are doing at the moment (except maybe Lagos)... (i.e states should build silos and cold storage facilities hooked up to solar panels that the rent out at subsidised rate to large scale farmers in Nigeria, also ensure each local government have access to mechanised farming equipments that rented out at a subsidized rate, then adding value to those food produce i.e large factories and plants that can package those products.). states who fail to show a tangible agricultural produce by 6 to 8 months will see the FG allocations slashed and given to states more willing to comply. in no time we will be feed the whole on Nigeria and West Africa.

I will also remove subsidy and give free malaria and typhoid treatments to all Nigerians. (so you will register at the nearest approved clinic in your area and go in there with you Nigerian ID card for treatment of typhoid and malaria for free).

For other projects that doesn't fall in my focus area's I will seek foreign investors, like build a train network to across Nigeria, build seaport on every major coastline in Nigeria and creating inland water ways and canals for transport as and alternative to rails.

IAMTHEHERO:
Will the APC e-robots accept the facts? Well they are not human beings. It will be clear to everyone when Buhari has plunged the country into the Atlantic Ocean.

coldsummer:
we know. God just saved Nigeria that Jonathan did not return as a president. The country would have been broke and economy crashed now.

Let us give PMB a chance to put the country back on the right track. What we are facing now was done be GEJ and co. believe it or not.



BTW, when will the international guys start returning our loot?

PassingShot:
It's not a surprise to read news like this. It is what we've known about our country/economy. It is a result of what we did and failed to do in the sixteen years of poor governance largely brought on our nation by OBJ and GEJ.

We hope that this will change within the next few years of this new administration.



Why not borrow sense?

When will you get over the loss of GEJ's presidency?

Pavarottii:

I pity U! Wat GEJ achieved can never be achived by Buhari in the economy sector.
1) Making us the largest economy in Africa.
2) World Economic Forum held in West Africa for the first time and not only was it held there, it was held in Nigeria.
3) Nigeria was 3rd fastest growing economy in the world after China and quatar.
4) Nigeria got into the JP Morgan investmest list.
Just to list a few in the economy Sector.
DONT BLAME GEJ for BUHARI's woes.

coldsummer:
we know. God just saved Nigeria that Jonathan did not return as a president. The country would have been broke and economy crashed now.

Let us give PMB a chance to put the country back on the right track. What we are facing now was done be GEJ and co. believe it or not.



BTW, when will the international guys start returning our loot?

OZAOEKPE:
And a useless president said abacha didn't steal money. Omoale ni PMB.

400billionman:


For how long will you continue blaming someone who is resting in his house since 5 months ago ?

How much does blame game earn you. ?

Blame Buhari, he is ur president who promised to fix Boko in 2 months, make naira equal to dollar and share N5,000 to you.

Goodnuel:
How exactly do you intend to do that without your govt or with a bad economy??

trapQ:
Ask dangote, bill gates, carlos slim helu, Oprah winfrey etc. Did you think it was rosy for them all? Dangote made a name for himself in this Nigeria with all the corruption, unemployment, tribalism, bad governance etc.

Bill gates obviously needed nobody's validation. He needed nothing from the government.

Carlos slim helu is mexican and everyone knows that only the strong survive in mexico. All the things we complain about in Nigeria are present in mexico, yet he scaled through.

Oprah winfrey suffered racism and a lot of criticisms from whites when she first started. She fought through and became a billionaire.

So No, I don't need to depend on the govt for nothing.

onyepapa:
you lie it's GEJ!!! Fucccking ediots it's not GEJ any more it's now insecurity. May you remain blind to the truth forever

PassingShot:
It's not a surprise to read news like this. It is what we've known about our country/economy. It is a result of what we did and failed to do in the sixteen years of poor governance largely brought on our nation by OBJ and GEJ.

We hope that this will change within the next few years of this new administration.
Why not borrow sense?
When will you get over the loss of GEJ's presidency?

coldsummer:
we know. God just saved Nigeria that Jonathan did not return as a president. The country would have been broke and economy crashed now.

Let us give PMB a chance to put the country back on the right track. What we are facing now was done be GEJ and co. believe it or not.

BTW, when will the international guys start returning our loot?

400billionman:


For how long will you continue blaming someone who is resting in his house since 5 months ago ?

How much does blame game earn you. ?

Blame Buhari, he is ur president who promised to fix Boko in 2 months, make naira equal to dollar and share N5,000 to you.

nigerianvenom:


U sound like a foool. Buhari has bim in power for over 4month now, yet nothing seems to change, rather everything tends to move downward and all u can say is this.
Was this what buhari promised nigerians?

ODUBEZE:

Bros, we are talking about a country not an individual!
Is Dangote not in Nigeria? then why is the economy still affected?
can a drop of water make a mighty ocean?