Nigeria
recorded significant improvements in its ‘Doing Business’ index within the last
four years, the World Bank’s ‘Doing Business in Nigeria 2014’ report has revealed.
This
year’s report is the third in a series of reports analysing business
regulations across Nigeria.
The
Federal Ministry of Industry, Trade and Investment, which gave insight into the
report yesterday said the study, which benchmarked four regulatory areas such
as starting a business; dealing with construction permits; registering property
and enforcing contracts, also measured the progress made by the respective
states since January 2010, when the last benchmarking exercise was conducted.
According
to the report, from 2010 till date, the country recorded 34 improvements in its
‘Ease of Doing Business’ index, of which 13 focused on starting a business,
eight on dealing with construction permits, 10 on registering property, and
three on enforcing contracts.
Specifically,
the report stated: “For the first time,
