Doing Business Index Ranking Proves Our Strategy Is Working – Buhari

Posted by: Folamidavid in Politics, News Oct 24, 2019

President Muhammadu Buhari has talked about his happiness with the World Bank’s 2020 Doing Business Index (DBI).

In this index, Nigeria was ranked 131 out of 190 countries, up 15 places from 146th position last year.

Buhari saw this as positive ranking and said it is a sign that the strategy adopted in the ease of doing business was working

The World Bank DBI report, which was released Thursday, also named Nigeria one of the top 10 most improved economies in the world for the second time in three years.

Buhari said, “The movement of 15 places to 131 as well as the recognition being given to Nigeria as one of the top 10 most improved countries, that have implemented the most reforms this year, is significant because we were not even able to achieve some of the key reforms we had pursued, but what we have done so far is being recognised.

“This validation confirms that our strategy is working and we will continue to push even harder to deliver more impactful reforms.”

Minister of Industry, Trade and Investment and Vice Chair of the Presidential Enabling Business Environment Council (PEBEC), Otunba Niyi Adebayo also said the ranking was an indication that the reforms this government is introducing are effective.

His words, “The steady improvement in Nigeria’s ease of doing business score and rank is a testament to the reforms implemented by this Administration over the past four years in line with the reform agenda being implemented at national and sub-national levels across the country since the establishment of the Presidential Enabling Business Environment Council (PEBEC) by President Muhammadu Buhari in July, 2016.

“The PEBEC works towards the fulfillment of the projections of the Economic Recovery and Growth Plan (ERGP 2017-2020), which is striving to deliver sustainable economic growth in Nigeria by restoring growth, investing in our people, and building a competitive economy as we work towards delivering Mr President’s mandate of bringing 100 million people out of poverty.

“The 2020 Doing Business report from the World Bank has reaffirmed the commitment of the newly constituted PEBEC to making Nigeria a progressively easier place to do business and removing the bureaucratic constraints to doing business in the country as we forge ahead in this Next Level.”