Nigeria rises again on the list of countries with ease of doing business

Date:

Share post:

Nigeria has been announced as one of the ten (10) most improved countries in terms of ease of doing business (EOD). The announcement was made today. From its previous 146th position, the country moved up to 131, among 190 nations. Other countries that recorded significant improvements are Saudi Arabia, Togo, Jordan, Bahrain, Tajikistan, Pakistan, Kuwait, China, and India.

The metrics used in rating the top countries, regarding ease of doing business, include seamless access to credit facility, availability of electricity, affordable leasing, fast business registration processes, amongst other regulations.

Nigeria has sought to model its economy after Kenya where many small businesses have been cropping up for the past decade to reduce the socio-economic burden on government and larger establishments. The success of mobile money and other-tech but innovative solutions in that country has helped strengthen its GDP, as well as improve its stand on the continent.

While a Presidential Enabling Business Environment Council (PEBEC) was set up in 2016 to drive the agenda of creating conducive operating environment for small businesses after the models noted in places such as Kenya, many reforms have been introduced and implemented so far through a strategic approach labelled ‘Listen, Implement, and Track’.

Therefore, the overt commitment of the current administration to making Nigeria conducive for business to flourish has seen Nigeria score over 50% for two consecutive years. The record was arrived at based on the quantitative metrics used in measuring ease of doing business across nations.

Toyin Afilaka
Toyin Afilaka
Toyin Afilaka writes with simplicity and insight. He aims to enrich the Nigerian small business landscape. Through Hustle24 he connects entrepreneurs with information about new policies, enterprise solutions and opportunities that will aid their 'hustle'. He has written extensively for CobraReview, a product review portal, and served as a lead project manager for MarketingMix where he consulted as PR consultant for MTN Project Fame and Business Next Titan etc.

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Related articles

4 strategies from Bezos that would change your business

Success sometimes can grow to become a craft that leaves behind trails for others to follow. Jeff Bezos...

How to cultivate a purposeful culture

Sarah Turner, the founder and chief executive officer of an eponymous agency, provides interesting insights into how to...

20 Types Of Content To Help You Attract Prospects And Win Customers – Renae Gregoire

If you know deep inside that you need to be doing more to connect regularly with your audience...

High prospect for real estate investment in Nigeria – Bartholomew Egbochie, CEO, ATCO Homes

Lagos, Oct 4, 2023 - The Nigeria real estate sector provides ample investment opportunities. According Bartholomew Egbochie, the...