NCCN Statement: Nigeria Improvess 5 Places on the 2015 Doing Business index
Today the World Bank released the 2015 Doing Business report. Nigeria moved up five positions in the report, ranking 170 out of 189 countries (compared to 175 in 2014). The improvements, however marginal, represent a move in the right direction and will form the foundation for future improvements. Nigeria’s upward movement (+5) compared favourably to the BRICS (Brazil, Russia, India and China) (Zero), other MINT (Mexico, Indonesia, Nigeria, Turkey) (+2) nations and Sub Saharan Africa (+2). The Doing Business report extended coverage to include the second largest business city in economies with a population of more than 100 million. Therefore this year’s ranking included data from Lagos and to a much lesser extent Kano. We remain hopeful that this results can be a springboard for improved coordination between the national and subnational governments across all party lines for the collective good – Particularly in an election year where electorate contestation exerts increased scrutiny on policy sets. The Doing business 2015 incorporates improvements through a new conceptual framework that emphasises efficiency of regulation and is complemented by increased emphasis on quality. Nigeria showed substantial improvement in two pillars, a marginal decrease in six pillars, and no change in two pillars. Specifically, the “Starting a Business” pillar improved nine places ranking at number 129 compared to 138 last year. The “Getting Credit” pillar saw the most significant change, moving up 73 places to 52 from 125 in 2014.
The National Competitiveness Council of Nigeria (NCCN) is dedicated to creating an enabling business environment to unshackle the private sector’s value creation ability with the ultimate goal of improved collective prosperity. Since commencing full operations in January, the NCCN relentlessly crafts and advocates policy interventions that will lead to tangible improvements in Nigeria’s competitiveness and eventual rise on credible competitiveness rankings.