The World Bank has ranked Nigeria 147th among the best places for doing
business. It also ranked the country as the 122nd for best countries to
start a business.
The report released, yesterday, said Nigeria’s low ranking is mainly
caused by electricity problems, where the country is ranked 185th out of
189 countries evaluated. The first African country on the list is
Rwanda, ranked 32nd.
The report said in Africa, 66 per cent of countries enacted at least one
reform last year, against 33 per cent in 2005, adding that nine
African countries make up the top 20 most improved in terms of business
regulations since 2009: Benin, Burundi, Cote d’Ivoire, Ghana,
Guinea-Bissau, Liberia, Rwanda, Sierra Leone, and Togo.
The report said economies are ranked on their ease of doing business,
from 1 – 189. A high ranking on the ease of doing business index means
the regulatory environment is more conducive to the starting and
operation of a local firm..
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