The global bank, in its report which was released yesterday, ranked Nigeria 131 out of 190 countries, up 15 places from 146th position last year. The report also named Nigeria as one of the top 10 most improved economies in the world for the second time in three years.
Welcoming the announcement, President Muhammadu Buhari noted that “the movement of 15 places to 131 as well as the recognition being given to Nigeria as one of the top 10 most improved countries that have implemented the most reforms this year is significant because we were not even able to achieve some of the key reforms we had pursued, but what we have done so far is being recognized.
“The PEBEC works towards the fulfillment of the projections of the Economic Recovery and Growth Plan , which is striving to deliver sustainable economic growth in Nigeria by restoring growth, investing in our people, and building a competitive economy as we work towards delivering Mr President’s mandate of bringing 100 million people out of poverty.
But some private sector operators have said that the harsh realities remain, while the operating environment is awash with many contradictions. They argued that despite the ranking and government’s efforts to ease the pains of businesses, some of its regulatory agencies are doing the direct opposite.
He advised government to establish a clearing desk in the presidency where organised businesses can give regular and useful feedback on the implications of monetary and fiscal policies on the operators in the real sector. He said greater focus should be given to the real sector to enable it thrive through the provision of single interest credit facilities for expansion.
The Deputy General Secretary of the United Labour Congress , Chris Onyeka, said the ease of doing business in Nigeria had not improved and so government should not start giving kudos to itself.“For government to start praising themselves, Nigerians must feel the impact of good governance and economic reforms. Ease of doing business in Nigeria has not improved, the government cannot give kudos to itself.