• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
  • Security
  • Features
  • State
  • Event
  • E-Book
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
  • Security
  • Features
  • State
  • Event
  • E-Book
Home Features World Bank’s Doing Business 2017 Report: Government’s Reform Initiatives Yielding Positive...
  • Features
  • Government

World Bank’s Doing Business 2017 Report: Government’s Reform Initiatives Yielding Positive Results

By
Laolu Akande
-
October 27, 2016
Yemi OSINBAJO
Yemi OSINBAJO

osinbajo newThe Buhari administration is gratified that the various reform initiatives put in place towards instituting a positive business environment is slowly but gradually yielding some dividends as Nigeria’s ranking in the World Bank’s Ease of Doing Business remains static, halting a falling trend in the past several years.

The latest World Bank’s Doing Business 2017 ranking report released on Tuesday, October 25th which ranked Nigeria 169 out of 189 countries in the overall Ease of Doing Business rank is a positive indication that the focus and tenacity of President Muhammadu Buhari to reposition the nation’s business and economic environment is working and on course.

While Nigeria’s country’s position remain the same as last year on the index ranking, it is encouraging that Nigeria has recorded some positive outlooks in 4 critical areas of the ranking-namely:

Starting a Business,
Dealing with Construction Permits,
Registering Property and
Access to Credit,

The objectivity and reliability of this report coming from an international development institution lends weight to the milestone recorded in particular on the distance to frontier (DTF) metric, where the country’s score improved slightly from 44.02 in Doing Business 2016 to 44.63 in Doing Business 2017.

According to the World Bank report the improvements noted mean “that in the last year, Nigeria’s business regulatory environment as captured by the Doing Business indicators improved slightly in absolute terms – the country is decreasing the gap with the global regulatory frontier. This is a morale booster for stakeholders involved in the efforts aimed at removing existing bottlenecks in the business environment.

This observation by the World Bank is indeed a recognition of the bold initiatives and untiring work of President Muhammadu Buhari-led administration, particularly through the Presidential Enabling Business Environment Council, PEBEC, chaired by the Vice President, Prof. Yemi Osinbajo, SAN.

The President in August had set-up PEBEC, which has an active collaboration with the private sector, including a Secretariat led by Mr. Seyi Bickersteth of KPMG, “to remove the bottlenecks that stifle businesses and create the right enabling environment and investment climate.”

PEBEC comprises 9 ministers, the Head of the Service and the CBN Governor as members and is mandated to give progress reports to the Federal Executive Council on a monthly basis. The Council’s secretariat with a team comprising staff from both public and private sector, is supported by knowledge experts, and collaborates across ministries, departments & agencies as well as with other private sector stakeholders to achieve reform objectives.

President Muhammadu Buhari is absolutely committed to scaling up its reform activities so as to continue to arrest the past decline where the country fell from No 94 in 2006 to 169 in 2016, and positively project the business climate to an enviable position in the international business community.

With the reform efforts being put in place now, indications are that in subsequent years Nigeria will scale up significantly in the ranking.

‘Laolu Akande
Senior Special Assistant (Media & Publicity)
Office of the Vice President

VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • President Muhammadu Buhari
  • Prof. Yemi Osinbajo
  • World Bank
Previous articleNAICOM Relocates Inspectorate Directorate to Lagos
Next articleAisha Buhari flags off food distribution for returnee IDPs in Borno
Laolu Akande
Laolu Akande
https://prnigeria.com
PRNigeria is the pioneer Press Release Distribution agency in Nigeria. A member of image Merchant Promotions limited, PRNigeria encourages individuals and organisations to be more transparent in their information management. with dedicated Editorial staffs, the PRNigeria ensures that information provided on its platforms are timely, factual and authoritative Read more at: //prnigeria.com/about/
Facebook Twitter

RELATED ARTICLESMORE FROM AUTHOR

ICPC Generates Record N1.86 Billion from 2024 Asset Disposal

A Group of Terrorists/Bandits

The Forgotten Victims: Reclaiming the True Story of Boko Haram’s War on Muslims By Dr. Zanna Hassan

Nigerian Navy

Navy Appoints Commodore Odejobi as New Spokesman

Still on the Misleading Global Story About Nigeria’s Insecurity, By Mukhtar Ya’u Madobi

Tinubu Seeks Senate Confirmation of Bernard Doro as Minister

DIG Hashimu Argungu Rtd PSC Chairman

PSC, NECA Partner to Develop AI-Enabled Complaint System for Ethical Policing

ICPC

ICPC, UBEC Partner to Promote Transparency in Basic Education Sector

Critical Appraisal of Mike Arnold’s Findings on Alleged Christian Genocide in Nigeria, By Prof. Adam Abba-Aji

Customs, EFCC, KACCIMA Collaborate to Boost Trade Compliance in Kano

Customs Moves Against Vehicle Smuggling, Launches Verification System

NAHCON

NAHCON Inaugurates Aviation Monitoring Committee for 2026 Hajj

Comrade Joe Ajaero, President of Nigeria Labour Congress, NLC

Resolve ASUU Disputes in 4 Weeks or Face Nationwide Strike, Labour Warns FG

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • DEADLY: Troops Crush Multiple Boko Haram Attacks in Borno, Yobe, Kill Over 50 Terrorists
  • BREAKING: CAN Reaffirms ‘Christian Genocide’ Claim Against Official Position
  • Troops Eliminate Notorious Militia Leader, Several Bandits, Rescue 2 Hostages in Plateau
  • ICPC Generates Record N1.86 Billion from 2024 Asset Disposal
  • The Forgotten Victims: Reclaiming the True Story of Boko Haram’s War on Muslims By Dr. Zanna Hassan
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
DEADLY: Troops Crush Multiple Boko Haram Attacks in Borno, Yobe, Kill Over 50 TerroristsBREAKING: CAN Reaffirms 'Christian Genocide' Claim Against Official PositionTroops Eliminate Notorious Militia Leader, Several Bandits, Rescue 2 Hostages in PlateauICPC Generates Record N1.86 Billion from 2024 Asset DisposalThe Forgotten Victims: Reclaiming the True Story of Boko Haram’s War on Muslims By Dr. Zanna HassanNAF Releases List of Shortlisted Candidates for DSSC 34/2025 Aptitude TestNSCDC, Police Strengthen Collaboration to Enhance Security in FCTNavy Appoints Commodore Odejobi as New SpokesmanFCT Police Raid Criminals Hideouts, Arrest 44 Suspects Two Soldiers Killed as Troops Repel Terrorists’ Reprisal Attack After Eliminating Notorious Bandit LeaderNnamdi Kanu Opens Defence, Lists Wike, Buratai, Danjuma, Umahi, Others as WitnessesANALYSIS: 32 Years After, Coup Whispers Return to Nigerian BarracksASUU Suspends Two-Week Warning Strike JUST IN: ASUU Suspends 2-Week Warning Strike, Cites Progress in NegotiationsTroops Kill Notorious Bandit Abu A.K, Several Others in Zamfara Operation
X whatsapp