Word Bank: Nigeria one of top 10 most improved economies
. As PEBEC looking into significance of Nigeria’s ease of doing business
Nigeria has moved up 24 places to 145th in the World Bank’s ‘Doing Business’ report, and for the first time the country is recognized as one of the top 10 most improved economies in the world, new World Bank report has revealed.
Just yesterday, the World Bank team formally present 2018 Doing Business Ranking to the Federal Government, as evidence of progress made by Nigeria as a result of recent reforms embarked upon by the government.
The report, highlighted five reforms including; Starting a Business, Dealing with Construction Permits, Registering Property; Getting Credit, andPaying Taxes, which ismaking it easier to do business in Kano and Lagos, the two cities covered by the report in Nigeria over the course of last year.
The Presidential Enabling Business Environment Council (PEBEC) which is meeting for the first time since the release of the latest rankings by the World Bank will look at the significance of Nigeria’s ranking, especially as the country features as one of the 10 economies showing the most notable improvement in Doing Business 2018.
The World Bank in its latest ranking on Doing Business confirmed Nigeria’s progress across several indicators comprising, starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.
Other indices that will feature in the council’s discussions on Doing Business index include the distance to frontier metric which rose from 48.18 in 2017 to 52.03 in the 2018 outlook, and per capita income, among other issues.
According to the Senior Special Assistant to the President on Media & Publicity Office of the Vice President, Laolu Akande, said that the PEBEC will also at the meeting appraise the ongoing implementation of the second National Action Plan (NAP 2.0.) as well as get an update on PEBEC special projects.
Akande, in a statement obtained by our our correspondent explained that in its bid to consolidate the progress made so far, the council at the meeting, will launch an App (Report NG) that enables the council to obtain feedback from citizens on the reforms being implemented by it.
The PEBEC App (Report NG) enables interested persons to register their complaints by logging into the App and providing details of their complaints and the agencies of government involved.
The App also enables the council’s secretariat to track resolution of the complaints via a dedicated page with a view to ensuring consumer satisfaction.
It would be recalled that the PEBEC, was established by President Muhammodu Buhari in July 2016, with a mandate to sustainably and progressively make Nigeria an easier place to do business.
The PEBEC, is chaired by the Vice President, Yemi Osinbajo, with the Hon Minister of Industry, Trade & Investment as Vice Chair.
Stories by Motolani Oseni
