The President Muhammadu Buhari administration has earned one of its most remarkable global economic credentials since inception in 2015 as the World Bank in its just released annual report on Ease of Doing Business (EODB) rated the Nigerian economy as one of the Top 20 Improvers in EODB in the world. The report is the clearest indication yet that the series of reforms introduced by the Buhari government, with Vice President Yemi Osinbajo as the Chairman of the Economic Team, until a few days ago, has started yielding results.

In a report monitored by www.makeitglobal.biz on a website dedicated by the World Bank Group to Ease of Doing Business entitled, “Top-20 improvers in Doing Business 2020”, Nigeria was listed prominently as one of those “improving the most on ease of doing business score.”

The report said the 20 economies including Nigeria were selected based on the number of reforms and on how much their ease of doing business score improved.


Referring specifically to Nigeria, it said the country “made starting a business easier by operationalizing a new electronic platform that integrates the tax authority and the Corporate Affairs Commission (CAC). The CAC also upgraded its name reservation platform and, in Kano, there is now an electronic platform for registering business premises online, eliminating the need to appear in person. In Lagos, land administration was made more transparent following the digitization of cadastral plans in a geographic information system; digital copies of cadastral plans are now easily obtainable.

“Nigeria also made getting electricity easier by allowing certified engineers to conduct inspections for new connections. Initiatives also made commercial litigation of smaller cases more efficient. The Chief Judges in Lagos and Kano issued practice directions for small claims courts introducing pre-trial conferences and limit adjournments. Finally, customs integrated more agencies into its electronic data interchange system, and port authorities launched an e-payment system, speeding up both exports and imports.”

The remaining 19 countries in the league of the most improved economies in Ease of Doing Business in alphabetical order are Azerbaijan, Bahrain, Bangladesh, China, Djibouti, India, Jordan, Kenya, Kosovo, Kuwait, The Kyrgyz Republic, Myanmar, Pakistan, Qatar, saudi Arabia, Tajikistan, Togo, Uzbekistan, Zimbabwe.

At the 2nd Presidential Enabling Business Environment Council (PEBEC) Awards in April, Professor Yemi Osinbajo, said the Nigerian government had in the last three years implemented 140 reforms aimed at making business dealings easier in the country.

He also stated that the World Bank reported that 32 states in the country had grown in their ease of doing business environment in 2018.

“Some of the successful reforms include the ability to: Reserve a business name within four hours; complete the registration of a company within 24 hours online; apply for and receive approval of a visa-on-arrival electronically within 48 hours; file and pay taxes online; and access specialised small claims commercial courts in Lagos and Kano states.

“The World Bank also reported in 2018 that 32 states of Nigeria improved their Ease of Doing Business Environment led by Kaduna, Enugu, Abia, Lagos and Anambra states.

“In 2019, PEBEC set a goal to move Nigeria into the top 100 on the 2020 World Bank Doing Business Index (DBI). To achieve this, we will be pursuing the continued implementation of reforms across all indicators, including the implementation of legislative reforms, specifically the passage of the new Companies and Allied Matters Act and the Omnibus Bills; the expansion of the regulatory reform programme which started with National Agency for Food and Drug Administration and Control (NAFDAC) and National Insurance Commission (NAICOM), and now to include other regulators; the establishment of a National Trading Platform for ports; and the concession of our major international airports.”

Osinbajo also disclosed that the PEBEC embarked on the fourth 60-day National Action Plan (NAP 4.0) on EoDB, from March 1 to April 29, 2019.

“We have highlighted key action items in all of the focus areas to ensure that they do not unravel, and to ensure we drive sustainability,” he said.

In late July, the United Kingdom commended Osinbajo for his role in driving the Ease of Doing Business in Nigeria.

The then newly appointed United Kingdom’s Secretary of State for International Development, Mr Alok Sharma, made the commendation during a visit to the Vice President at the Presidential Villa in Abuja.

He also commended the Federal Government for its efforts in ensuring that the country moved up 24 places in the World Bank Ease of Doing Business Ranking.

The best placement for Nigeria on the Ease of Doing Business table was in 2014 when the country placed 170.

https://www.makeitglobal.biz/nigerian-news/osinbajo-shines-world-bank-rates-nigeria-among-worlds-20-improved-economies-eodb/

This is a welcome development and we have seen the impact of Buhari/Osinbajo in nation building

Even the wailers are secretly setting up businesses with ease. They just will never agree. All because there is no more free money for doing nothing, like it used to be at Aso Rock from 1999 to 2015.

Waw that's beautiful, Nigeria will be great insha'Allah and things will get better very soon. More strength.

Wow, this is good news, when the righteous is in authority, the people rejoice. The best is yet to come, I believe Osinbajo will do it, by the grace of God.

Osinbajo should take glory for easy of doing business, he sign and make the policy that helps the ease of doing business.

This is a good development. I've always believed in the capacity of Prof. Yemi Osinbajo, GCON, SAN to transform our economy. Forget the haters, he's the best Vice President ever.

#Osinbajo2023

World Bank in its just released annual report on Ease of Doing Business (EODB) rated the Nigerian economy as one of the Top 20 Improvers in EODB in the world. The report is the clearest indication yet that the series of reforms introduced by the Buhari government, with Vice President Yemi Osinbajo as the Chairman of the Economic Team.

Thanks to Prof. OSinbajo

Another bad news for those in the wailing community. Thank God for my Vice President

Wow that is very commendable all thanks to Vice president.

If only Nigerians would calm down and read and learn, this is the same Osinbajo they said was clueless about the economy because Buhari created an advisory committee? Good job pls!

I believe in this Administration. Ride on Prof

This is great news for the country. I hope Nigerians can now appreciate Prof Osinbajo for all his efforts in moving the country forward.