The presidency has described as gratifying the ranking of Nigeria as 169 out of 189 countries in the overall World Bank Ease of Doing Business report released on October 25.
In a statement, the Senior Special Assistant to the Vice President on Media and Publicity, Mr. Laolu Akande said the latest World Bank’s Doing Business 2017 ranking report which ranked Nigeria 169 out of 190 countries in the overall Ease of Doing Business rank was a positive indication that the focus and tenacity of President Muhammadu Buhari to reposition the nation’s business and economic environment was yielding positive results.
The World Bank had ranked Nigeria 169th out of 190 countries by on its Ease of Doing Business index for 2017.
The Ease of Doing Business report titled, Doing Business 2017: Equal Opportunity for All”, published on Tuesday, indicated that Nigeria moved up by one point from 170th position on the 2016 ranking to 169th position for the 2017 ranking.
According to the report, the improvements noted mean “that in the last year, Nigeria’s business regulatory environment as captured by the Doing Business indicators improved slightly in absolute terms – the country is decreasing the gap with the global regulatory frontier.
This is a morale booster for stakeholders involved in the efforts aimed at removing existing bottlenecks in the business environment.
Mr. Akande said the objectivity and reliability of the report lent weight to the milestone recorded in particular on the distance to frontier metric, where the country’s score improved slightly from 44.02 in Doing Business 2016 to 44.63 in Doing Business 2017.
He added that the World Bank observation was indeed a recognition of the bold initiatives and untiring work of the Buhari-led administration, particularly through the Presidential Enabling Business Environment Council, (PEBEC), chaired by the Vice President, Prof. Yemi Osinbajo, SAN.