@VIVIANGIST

Nigeria has moved up 24 places to 145th in the World Bank’s ‘Doing Business’ report published today, and for the first time the country is recognized as one of the top 10 most improved economies in the world.

This was made known in a statement issued by the Vice President's office on Tuesday in Abuja.

The World Bank Doing Business project provides objective measures of business regulations and their enforcement across 190 economies worldwide.

Reacting to the development, Vice President Yemi Osinbajo, SAN, said “I welcome Nigeria’s improved performance. We are one of the top ten reforming economies in the world in 2017. After a decade-long decline in Nigeria’s rankings, last year the Government recorded a modest increase.

This year, Mr President set us an ambitious target of moving up twenty places in the rankings – I am delighted that we have exceeded his goal.

“Improving the business environment is at the heart of the Buhari Administration’s reform agenda. We are reinforcing our economic turnaround by a vigorous and active implementation of the Economic Recovery and Growth Plan (ERGP) so businesses operating in Nigeria can thrive and be competitive globally.

“For the first time, coordinated efforts across various levels of governments have been undertaken to make it easier to do business in Nigeria. I commend all stakeholders who worked with us to achieve this significant result, particularly the National Assembly, Lagos and Kano State Governments, and the private sector.”

The World Bank highlighted five reforms making it easier to do business in Kano and Lagos, the two cities covered by the report in Nigeria over the course of last year:

1. Starting a Business,
2. Dealing with Construction Permits
3. Registering Property
4. Getting Credit, and
5. Paying Taxes.

In the area of company registration, the Corporate Affairs Commission has moved to offer online registration and introduced new features such as electronic stamping of registration documents. Thus, entrepreneurs have been able to register their businesses much faster, within 24-48 hours, thereby saving cost and time

Getting construction permits and registering property in both Lagos and Kano States have become more transparent and easier for businesses with the online publication of all relevant regulations, fee schedules and pre-application requirements online.

Getting access to credit is now easier and Nigeria is placed 6th in the world on this indicator. The Government recorded a significant success by collaborating with the National Assembly to pass two new Acts, the Secured Transactions in Movable Assets Act 2017 and the Credit Reporting Act 2017, thereby strengthening the legal framework for access to credit for SMEs across the country – an important requirement for the success of SMEs.

Finally, it has become easier to pay taxes in Nigeria because taxpayers can file tax returns at the nearest Federal Inland Revenue Service (FIRS) office, and electronic payment and filing are gradually gaining acceptance.

Via ; http://www.viviangist.ng/nigeria-has-moved-up-24-places-to-145th-in-the-worldbank-doing-business-buhari/

Cc; lalasticlala

Hope Nigerians Will Feel The Impact Soon. Kudos

Eggcelent:
Hope Nigerians Will Feel The Impact Soon. Kudos

feel what?.

Scam Ranking.

Nigeria isn't among the first 30 MOST IMPROVED ECONOMIES; at best, it can only be among the IMPROVING.

STOP MISLEADING AND MISINFORMING POTENTIAL HELPERS.

Naso
tory

Imaginary growth!!!

All improvements under Apc are always on paper. When will Nigerians feel these improvements?

145th position chai! Bullhari e no go better for you o

KardinalZik:
Scam Ranking.

Nigeria isn't among the first 30 MOST IMPROVED ECONOMIES; at best, it can only be among the IMPROVING.

STOP MISLEADING AND MISINFORMING POTENTIAL HELPERS.

Improved or improving.....is it your improve?

After 2023, PMB Should make sure he hands over to competent southerner!

All these fake statistics is nothing until the common man on the streets starts living a better life.

Check my signature

Is it d same Nigeria investors are running away from.. Our policies are downside up and dragging us down and backwards

How does this help the poor man in the street and the ones on nairaland

Eggcelent:
Hope Nigerians Will Feel The Impact Soon. Kudos

If I hear say we feel... recession dom maim our feelings tay tay

Goodnews of the millennium. Kudos!!!

Dis is a welcome development oh, to be frank

145th is not worth celebrating. How many nations do we have? That's like coming 15th out of 20 in class.

KardinalZik:
Scam Ranking.

Nigeria isn't among the first 30 MOST IMPROVED ECONOMIES; at best, it can only be among the IMPROVING.

STOP MISLEADING AND MISINFORMING POTENTIAL HELPERS.

Thank you Sir

Haha these scams are at again, many businesses shutting down and they are celebrating a ranking that hardly changes anything, from 169 to 145 yet no impact

learn how to earn dollars , see my signature for more

Clerverly:
After 2023, PMB Should make sure he hands over to competent southerner!

from south west right?

GavelSlam:
Yet another victory for Buhari.

All the indices are positive.

Yet some have anger in their system.

Some would rather he fails but God pass them.

Buhari has already failed and note this isn't first Time he is failing

GavelSlam:
Yet another victory for Buhari.
All the indices are positive.
Yet some have anger in their system.
Some would rather he fails but God pass them.

Buhari has already failed and note this isn't first time he is failing

Uhmm.

Improving Country since 1960, Just look at China, as of 1960s we were in d economic phase with China who is now competing with USA as world power.


We have large population n natural resources like China but our only achievement is making one person richer than China as a country.

Nigeria, Will never improve stop misleading the already misleaded n deluded failure supporters

pigs and idiots will never know peace

GavelSlam:


Another pained one.

Take heart till 2023.

Haha what is there to be pain about, continue hoping against hope, Nigeria is gone under buhari.