Ease of doing business: Nigeria ranks 147th

Nigeria now ranks 147th out of 189 countries in the world, based on a report focusing on initiated policies that make doing business easy in their countries.

According to the report released by the World Bank, yesterday, “in the past year, Nigeria has had positive developments in such areas as trading across borders, where the time to export and import has been cut, thanks to continued impact this year from previously implemented reform efforts.”

The report, known as the ‘Doing Business 2014: Understanding Regulations for Small and Medium-Size Enterprises,’ noted that “Nigeria already implements some of the global good practices in the areas of Doing Business.”

The International Finance Corporation (IFC) and World Bank report, found that from June 2012 to June 2013, “Nigeria moved closer to the global good practices in business regulations than any time since 2009.”

It said, Nigeria allows a general description of collateral, which makes it easy for local entrepreneurs to get credit and since 2005, Nigeria had implemented 10 business regulatory reforms making it easier for local entrepreneurs to do business.

The post Ease of doing business: Nigeria ranks 147th appeared first on The Nation.