Although he said the association was happy about what the Federal Government was doing to create the right environment, Mr. Nigeria is the key driver of international trade in all of West Africa, which consists of sixteen countries. The report noted that there is a strong association between performance in doing business report 2015 nigeria lace ease of doing business ranking and performance in other measures of economic competitiveness and quality of government and governance.
However, the said sub-Saharan countries still rank poorly on the global scale: Commercial lending interest rates remain very high ranging from 20 percent to 35 percentdespite government efforts to lower them.
The report also shows that most improvement for Nigeria is in area of access to credit where the country moved up by 16th position. Another is the construction of a Second Lagos Outer Ring Road to decongest traffic in the Lagos metropolitan area and improve movement of goods from the Lagos Sea Ports.
In his remarks, he stated: Osinbajo said the commission would have a secretariat that would be headed by a private sector professional who would pay greater attention to issues of doing business in the country.
It is worth mentioning the fact that such activities as narrated here will enhance business activities. NBS reports a Also, the median number of days to start a firm in Ghana, according to the report, is 14 and However, the World Bank says sub-Saharan Africa is improving. Stating that the council would help remove the administrative bottleneck associated with doing business in the country.
Exports of crude oil and petroleum products, which accounted for over 99 percent of exports to the United States, have declined drastically, due to the U. Similar trade opportunities exist for U.
However, the report showed that the country was retrogressing in the following rankings: Ghana is said to be among the countries that introduced or improved systems which allow electronic submission and processing of trade-related documents for imports and exports.
We therefore, encourage our teaming readers to do business in Nigeria this year. You will agree with us that this is an important topic to talk about now. Protecting Minority Investors — from the 32nd position in to 33rd position in Singapore leads the pack in the ease of business ranking with a score of These changes apply to both Kano and Lagos.
The bulk of the business reform activity in the region was aimed at facilitating cross-border trade. Our goal here is to encourage economic activities in Nigeria. Oduwole disclosed that the Council has harmonized the Entry and Exit Forms being managed by different agencies of government at our airports and today, instead of filling four different forms to exit you fill only one and the number of questions on that one single form has now been reduced from 23 to Osinbajo said at the first quarterly consultative meeting between the presidency and the Manufacturers Association of Nigeria, MAN, on Friday, that the commission would work to make it easy to do business in the country.
This Council is in place now, and paid a courtesy visit to the Honourable Minister of information last week Thursday. Jacobs said MAN was concerned about the situation in the Niger Delta area, describing it as sabotage on the economic activities of government.
International oil companies operating in Nigeria have expressed concern that the latest version of the PIB would boost Government of Nigeria GON royalty and tax revenues to a level that makes new investment unprofitable.
He said the government has also made significant improvement in easing the bureaucracy associated with the registration of companies, which can now be done online within a short time. Resolving Insolvency — from the th position in to th position in However, 13 economies in the region stipulate additional hurdles for women entrepreneurs.
Citing the example of Georgia, which was ranked in the s a few years ago but currently occupies the 5th position in the global index on the Ease of Doing Business, Alhaji Mohammed said though the task of moving Nigeria up the ladder is daunting, there is the abundance of the political will on the part of government to achieve such improvement.
Nigeria has a record of steady growth and improved political stability.This economy profile presents the Doing Business indicators for Nigeria. To allow useful comparison, it also provides data for other selected economies (comparator economies) for each indicator.
Doing Business is the 14th in a series of annual reports investigating the regulations that enhance. significantly improve the Business environment in Nigeria.
Utilising the Doing Business Report and a collaborative survey conducted by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the National Bureau of Statistics (NBS) in 3.
National Inland Waterways Authority Bill, 4. National Roads Funds. In this article we have tried to focus on government's efforts in reducing the cost of doing business in Nigeria. We have highlighted the activities of Presidential Enabling Business Environment Council in ensuring that cost of doing business in Nigeria in terms of time, procedure, and finance are reduced so as to increase the country's rating status in the global rating of good enabling.
World Bank’s Ease of Doing Business report for released on October 31st reveals that Nigeria now ranks th position out of countries and was also recognised as one of the top 10 most improved economies in the world.
Ghana’s ranking in ease of doing business has reduced slightly from th to th in the Doing Business Report, a flagship report of the World Bank which assesses business regulations and the ease of doing business in countries. With member countries, staff from more countries, and offices in over locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.Download