In the just published ‘Ease of Doing Business Report’ for 2018, Nigeria has been placed in the 145th position. This is 24 positions better than the 169th position the nation was ranked in the 2017 report. With the improved ranking, Nigeria is back to the 145th position that it attained in 2013.
According to the report released by the World Bank on Tuesday, Nigeria is among the 10 top countries that improved on reforms.
Areas Of Reforms And Progress
Major progressive strides include:
– Access to Getting Credit: from 32nd position in 2017, to 6th position in 2018
– Starting a business: from 138th position in 2017 to 130th position in 2018
– Getting construction permits: 174th position in 2017 to 147th position in 2018
– Getting electricity: from 180th position in 2017 to 172nd position in 2018
– Registration of property: 182nd position in 2017 to 179th position in 2018
– Paying taxes: from 182nd position in 2017 to 171 in 2018
– Enforcing Contracts: from 139th in 2017 to 96th position in 2018.
However, the report showed that the country was retrogressing in the Resolving Insolvency ranking, going from 140th position in 2017, to 145th in 2018.
Some of the reforms implemented include:
– Business incorporation process can now be done mostly online on the CAC’s Company Registration Portal
– Reductions in the cost of registration of companies and revision of timelines for company registration.
– Simplification of the Visa-On-Arrival process to include e-submission of applications to dedicated desk at Nigeria Immigration Service and also eliminated manual baggage searches at airport.
The Startup Port Harcourt Guide
It is pertinent to note that this country ranking is not indicative of the ease of doing business in each city/state of the federation. The results were curated from Lagos and Kano states.
Coincidentally, as past of the upcoming Startup Port Harcourt Week, there would be an unveiling of an ‘ease of doing business guide’ for the city, titled Startup Port Harcourt Guide. The publication is a project of Startup Port Harcourt 50 Startups to Watch (2016) and will be unveiled at a town hall meeting on Friday Dec 1,2017.