Foreign participation has also been encouraged to promote economic growth and social development.
According to the World Bank, Nigeria currently ranks low on the ease of doing business amongst countries. Nigeria, the World Bank observed, presently ranks out of countries examined for trade index for the year Trading across border, access to credit, electricity supply, paying taxes, registering property and the ease of starting a business.
This, experts said, was as a result of the reform efforts of the immediate past administration of President Goodluck Jonathan.
At the time, the World Bank ranked Nigeria th among countries survey, showing an improvement of 2. Also, Nigeria was ranked on the ease of starting a business inon dealing with construction permits it was ranked as against last year. On registering property it remained th as it was the previous year.
The country however improved immensely on access to credit ranking as it moved from in to 52nd position in the ranking.
Nigeria fell by one basis point on protecting minority investors ranking as it moved from the 61st position in to the 62nd position last year. On paying taxes, Nigeria was ranked as against in Country Comparism The report showed that Singapore was the best country in the world to do business, while Mauritius remained the best in Africa with a ranking of New Zealand emerged second followed by Hong Kong.
Between June and Junethe report, which measures economies worldwide, documented business reforms, with reforms aimed at reducing the complexity and cost of complying with business regulation, and 85 reforms aimed at strengthening legal institutions — with sub-Saharan Africa accounting for the largest number of such reforms.
The aggregate ease of doing business rankings are based on the distance to frontier scores for 10 topics and covers economies. The Word Bank said the distance to frontier score aids in evaluating the absolute level of regulatory performance and how it improves over time. Economies, it added, were ranked on their ease of doing business, from 1— adding that a high ease of doing business ranking means the regulatory environment is more conducive for starting and operating local firms.
Hassan Bello noted that trade was the single tool the government can use to reduce poverty and enhance national development.
He explained that a global agreement have been negotiated and concluded by countries adding that once the two-third of the critical mass of membership ratify, it becomes a legal document. He further explained that Nigeria Customs Service had signified its readiness to implement the measures whenever they are approved.
Meanwhile, analysis of the World Bank report showed that while Singapore beats every other country to the number one position, New Zealand and Denmark took the second and third position respectively.4 the Doing Business report, should be emphasised more prominently within the first few pages, and throughout the supporting communication strategy.
Furthermore, the report’s title, Doing Business, implies that it provides a comprehensive measure of the business environment, rather than just a measure of business regulations.
This report presents the findings of Enterprise Surveys conducted in eight economies in the region in and Djibouti, Egypt, Jordan, Lebanon, Morocco, . 6 Tanzania 2 Doing Business transparency of government procurement, More information is available in the full report.
Doing Business presents the indicators, analyzes their relationship with economic outcomes and presents business regulatory reforms. The data, along with.
The Global Information Technology Report Growth and Jobs in a Hyperconnected World Beñat Bilbao-Osorio, Soumitra Dutta, and Bruno Lanvin, Editors E-Government in Latin America: A Review of the Success in Colombia, Uruguay, and business executives who participated in our Executive Opinion Survey.
Without their valuable. Indicators from The World Bank: Data. Data. Net ODA received (% of central government expense) Net ODA received (% of gross capital formation) Net ODA received (% of imports of goods, services and primary income) Doing Business Enterprise Surveys Household Consumption Data and Statistics.
In , a state law (Act 88, SLH ) was enacted that established a fund for the preservation and long-term access of government records.
The Act provides that in addition to any other fee authorized by law, a $1 state archives preservation fee is assessed for certain permanent documents.