The latest World Bank’s report on Doing Business (2016) has placed Nigeria as number 169 among 189 countries in its ease of doing business ranking.
This position is an improvement compared to last year’s ranking which placed the country at number 170.
The rankings which are benchmarked to June 2015, are based on the average of each economy’s Distance to Frontier (DTF) scores for the 10 topics included in this year’s aggregate ranking.
The data for calculating the DTF scores for Nigeria were obtained from Lagos and Kano states. This was done for all countries numbering over 100 million in population.
The 10 topics include: Starting a business, Dealing with construction permits,Getting Electricity, Registering property, Getting credit, Protecting minority investors, Paying taxes, Trading across borders, and Resolving insolvency.
From the report, starting a business in Nigeria has become more difficult as the country ranked 139 as against 131 in 2015.
Registration of property, Getting credit, and Protection of Minority investors also improved within the last year.
According to the report, Getting electricity became a little bit more difficult in Nigeria, as it dropped to 182 from 2015’s 181.