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Divisions over World Bank’s ranking of Nigeria as one of the worst places to do business

Nigerians have been reacting passionately to the World Bank Doing Business Report 2016 that says Nigeria is still one of the poorest destinations to do business in the world, improving by just one step from its ranking last year.

Out of 189 countries surveyed, Nigeria moved up from 170th position with 43.56 per cent points in 2015 to 169 with 44.69 per cent points. The World Bank said it was more difficult to do business in Nigeria in 2016 than it was last year. Getting electricity also became more difficult in 2016, as the country fell in ranking from 181st position to 182nd.

In Africa, the best business destinations are Mauritius, ranked at 32nd, Rwanda at 62nd position, Botswana and South Africa at 72nd and 73rd ranking respectively, while Ghana emerged tops from the West African sub-region on 114th position.

1-wordbank

 

Of the 189 countries surveyed, Singapore topped the ranking as the easiest destination for doing business, followed by New Zealand, Denmark, Korea Republic and Hong Kong SA China, with United Kingdom and United States coming closely in that order.

The world’s top 10 economies that implemented at least three reforms during the past year and moved up the rankings scale included Costa Rica, Uganda, Kenya, Cyprus, Mauritania, Uzbekistan, Kazakhstan, Jamaica, Senegal, and Benin.

The World Bank Group’s Doing Business report tracks the regulatory and bureaucratic systems of nations by conducting detailed annual surveys.

Nigerians have been making their views on the ranking known. Read some below…

 

Anonymous – AFTER VISITING BUHARI AND GIVING HIM FALSE HOPE?

 

Anonymous said – This a really sad and disappointing position for Nigeria to be, giant of Africa indeed! What have the Ministers in charge of Trade and Industry been doing for the last 5 years, Minister for Investment?. I guess our infrastructure problems does not help, power, transportation, inefficient civil service etc.

 

iyke igbozendu – There no doubt abt tht. From the best economy in Africa to the worst place to do business.this country is arguably the worst place to live on planet earth . when stupid Ppl re in powwr, expect this kind of results

 

9ja Parrot – The rating is highly political. Since we refused their loan when their Boss (world bank boss) visited Nigeria and also refused their compulsory devaluation of Naira policy, I know they are not please with us. Byebye to your slavery economy policies… Let them rate whatever they like, China will do business with us and their Yuan will replace Dollar!

 

Uju Phil – What did you expect? We got what we asked for “Chain”!

 

chijioke kingsley – Chineke.!!!!!!…dis is bad, dis will literary scare away investors…no nah..

 

Juliet Iwuno – Things would surely get better.

 

iyke igbozendu – There no doubt abt tht. From the best economy in Africa to the worst place to do business.this country is arguably the worst place to live on planet earth . when stupid Ppl re in powwr, expect this kind of results

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