Latest World Bank Ranking Shows We Can Do Better – Osinbajo

Latest World Bank Ranking Shows We Can Do Better – Osinbajo

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Added by November 9, 2017

Vice President Yemi Osinbajo on Wednesday said Nigeria’s ranking in the latest World Bank Doing Business report shows that the country can do and be better.

Osinbajo made this assertion when a team from the World Bank formally presented the 2018 Doing Business report to the federal government at the Presidential Villa, Abuja.

In the latest World Bank Doing Business index, Nigeria climbed up 24 places and was placed on the list of 10 most reformed economies globally.

According to the report, Nigeria made significant progress across several indicators comprising starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.

In a statement by the Senior Special Assistant on Media and publicity, Laolu Akande, Osinbajo said: “This shows that we can do better in whatever we commit ourselves to do in the country. There is nothing exceptional about Nigeria’s problems; it is just for us to find the best ways to resolve them,”

Osinbajo also lauded the Presidential Enabling Business Environment Council (PEBEC) for its dedication and efforts since its inception.

“We are all excited about the latest ranking, it just shows we can do much better as a people,” the Vice President said.

Rachid Benmessaoud, the Country Director of the World Bank in Nigeria in his remarks, lauded the efforts of the Federal Government, saying that the improvement was proof of the leadership provided by the Buhari administration and the impact of its Ease of Doing Business reforms.

Benmessaoud said that Nigeria’s leap in the World Bank Doing Business rankings was “an important signal from Nigeria’s federal government’s effort, and also an important signal from Africa’s largest economy.”

He said: “We come to congratulate Nigeria and the Federal Government of Nigeria under the leadership of His Excellency, Muhammadu Buhari, for the reforms that have been undertaken that provided for Nigeria to jump into the indicators for doing business in Nigeria.

“This is a tribute to this council, which has been regularly meeting and focusing on the issues that influence doing business in Nigeria. And this council has done a great job under the leadership of His Excellency, the Vice President, Professor Yemi Osinbajo, SAN.”

The World Bank also pledged its support to the federal government in its bid to improve Nigeria’s investment climate.

The Honourable Minister of Finance, Kemi Adeosun; Minister of Power, Works and Housing, Babatunde Fashola; and the governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, were all in the meeting.

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