The World Bank has listed Nigeria as one of the top-20 improved countries to do business in out of 190 countries. Stating that the Presidential Enabling Business Environment Council (PEBEC) and the automation of the Corporate Affairs Commission (CAC) coupled with business conditions in commercial cities of Lagos and Kano played a key role in getting the Nation listed.
The World Bank Doing Business (DB) team who made this announcement ahead of the Oct. 24 release of the 2020 World Bank Doing Business rankings said the nation has improved drsticatlly when it comes to ease in doing business. The World Bank Doing Business Report is an objective assessment of prevailing business environments based on a number of ease of doing business indicators.
According to a statement published on World Bank Doing Business (DB) web site, "Nigeria made starting a business easier by operationalizing a new electronic platform that integrates the tax authority and the Corporate Affairs Commission (CAC).
The CAC also upgraded its name reservation platform and, in Kano, there is now an electronic platform for registering business premises online, eliminating the need to appear in person.
In Lagos, land administration was made more transparent following the digitization of cadastral plans in a geographic information system; digital copies of cadastral plans are now easily obtainable.
Nigeria also made getting electricity easier by allowing certified engineers to conduct inspections for new connections. Initiatives also made commercial litigation of smaller cases more efficient. The Chief Judges in Lagos and Kano issued practice directions for small claims courts introducing pre-trial conferences and limit adjournments.
Finally, customs integrated more agencies into its electronic data interchange system, and port authorities launched an e-payment system, speeding up both exports and imports."
Other Nations listed includes Saudi Arabia, China, Azerbaijan, Bahrain, Bangladesh, Djibouti, India, Jordan, Kenya, Kosovo, Kuwait, The Kyrgyz Republic, Myanmar, Pakistan, Qatar, Tajikistan, Togo, Uzbekistan and Zimbabwe.
