The World Bank has ranked Nigeria 147th among the best
places for doing business. It also ranked the country as the
122nd for best countries to start a business.
The report released, yesterday, said Nigeria’s low ranking is
mainly caused by electricity problems, where the country is
ranked 185th out of 189 countries evaluated. The first
African country on the list is Rwanda, ranked 32nd.
The report said in Africa, 66 per cent of countries enacted at
least one reform last year, against 33 per cent in 2005,
adding that nine African countries make up the top 20 most
improved in terms of business regulations since 2009:
Benin, Burundi, Cote d’Ivoire, Ghana, Guinea-Bissau,
Liberia, Rwanda, Sierra Leone, and Togo.
The report said economies are ranked on their ease of doing
business, from 1 – 189. A high ranking on the ease of doing
business index means the regulatory environment is more
conducive to the starting and operation of a local firm.
This index averages the country’s percentile rankings on 10
topics, made up of a variety of indicators, giving equal
weight to each topic. The rankings for all economies are
bench-marked to June 2013.