World Bank has again rated Nigeria among countries that are poor on the ease of doing business ranking adding that other African countries including the neighbouring Benin Republic fared much better in how easy it is to start a business in their countries.
According to data released by the World Bank in its 2016 annual ease of doing business measurement, Nigeria ranked 169 among 189 countries.
Although Nigeria moved from 170, its 2015 ranking to 169 in 2016, the largest economy in Africa was outpaced by reform-minded countries in the sub-Saharan sub region.
The report showed that developing economies quickened the pace of their business reforms during the last 12 months to make it easier for local businesses to start and operate, Nigeria however, continues to lag behind as other countries introduced measures to fast track businesses.
In the global ranking stakes, Singapore retained its top spot. Joining it on the list of the top 10 economies with the most business-friendly regulatory environments are New Zealand, in second place; Denmark third; Republic of Korea fourth, Hong Kong SAR, China fifth, United Kingdom sixth; United States seventh, Sweden eighth; Norway ninth; and Finland tenth.
The world’s top 10 improvers, which are economies that implemented at least three reforms during the past year and moved up the rankings scale, were Costa Rica, Uganda, Kenya, Cyprus, Mauritania, Uzbekistan, Kazakhstan, Jamaica, Senegal, and Benin.
Mauritius was placed the region’s highest ranking, at 32. Rwanda had the second highest 62, followed by Botswana 72 and South Africa 73. Other large economies in the region and their rankings were Kenya 108, Nigeria 169, and Uganda122.
Those with the region’s lowest rankings are Eritrea 189, South Sudan 187, and the Central African Republic 185. Rwanda ranks among the best in the world in Getting Credit, two and registering property, 12.
The report further indicates that rankings for sub-Saharan Africa show the most room for improvement in getting electricity 149, trading across borders 136, and paying taxes 131 all areas where it ranked last among regions. In cross-border trade, for example, completing border compliance procedures takes an exporter in the region 108 hours and $542 on average, compared with a global average of 64 hours and $389.
Thirty-five of 47 economies in sub-Saharan Africa 74 per cent implemented at least one reform making it easier to do business in the past year, 69 in total up slightly from the annual average of 67 reforms over the past five years.
Sub-Saharan Africa accounted for 14 of the 32 reforms globally in Getting Credit. Of the 14 reforms, 12 focused on improving the availability of credit
information more than in any other region. The region accounts for 5 of the 10 top improvers this year. These five are Uganda, Kenya, Mauritania, Senegal, and Benin.
By region, sub-Saharan Africa accounted for about 30 per cent of the improved global regulatory reforms and half of the world’s top 10 improvers. Multiple reforms were also implemented in Côte d’Ivoire, Madagascar, Niger, Togo and Rwanda.

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