Nigeria slips a place in 2019 Ease of doing business rankings   

01 November 2018 :The latest World Bank Doing Business 2019 report shows that Nigeria dropped a spot to 146 out of 190 countries. This is a far cry from last year when Nigeria advanced 24 places thanks in large part to the Presidential Enabling Business Environment Council (PEBEC) which was set up in July 2016. The council achieved some success with cutting down the red tape involved in business registration among other reforms guided by its National Action Plans (NAP). However, the stagnation in Nigeria’s ranking suggests that momentum has slowed recently, with the last NAP concluding in April 2018 (and achieving a 68% completion rate). This report comes amid persistent concerns over the difficulty of doing business in Nigeria—a condition which is critical for entrepreneurship and private business to thrive. Analysts note that Sub-Saharan countries in general performed quite well in the 2019 Doing Business rankings after recording a record number (107) of reforms during the period. 

Reporting for EasyKobo on Thursday ,1 November 2018 in Lagos, Nigeria

Source: Vetiva Capital Management Limited

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