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Nigeria Banks improve in the latest World bank Ranking

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Nigeria Banks improve in the latest World bank Ranking

The latest World Banking ranking, released on Thursday by World bank DC,

revealed that Nigeria scored 4 points higher from 52.9 to 56.9.

This leap puts Nigeria in the bracket of top10 most improved in the latest ranking.

World Bank’s list for top-20 “improvers in doing business” The report has it that “Nigeria has embarked on a comprehensive reform journey following the example of Kenya. The motivation for reform in Nigeria, Tajikistan and Togo was part of the developmental achievements of their neighbours. These economies implemented a total of 59 regulatory reforms in 2018/2019, accounting for one-fifth of all the reforms recorded worldwide. Their efforts focused primarily on the areas of starting a business, dealing with construction permits and trading borders.”

WHAT YOU SHOULD KNOW ABOUT THE

RANKING

Doing business ranking is based on

quantitative indicators on regulation for

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.

Doing Business acknowledges the 10

economies that improved the most on the

ease of doing business after implementing

regulatory reforms.

In Doing Business 2020, the 10 top improvers

were Saudi Arabia, Jordan, Togo, Bahrain,

Tajikistan, Pakistan, Kuwait, China, India, and Nigeria.

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