World Bank Rates Nigeria Among Top 10 Most Improved Economies

World Bank Rates Nigeria Among Top 10 Most Most Improved Economies

Nigeria’s Finance Minister Zainab Ahmed/File

Nigeria is among the top ten countries with improved ease of doing business in 2019, according to a report from the World Bank.

Concise News reports that China and India are also among the countries that featured in the top ten with Nigeria, Africa’s most populous country, ranked 131 on the list after going up by 15 places from its spot in the last report.

“Nigeria conducted reforms impacting six indicators, including making the enforcement of contracts easier, which placed the 200-million-person economy among the world’s top improvers,” the World Bank Group President David Malpass said.

Furthermore, he noted that “removing barriers facing entrepreneurs generates better jobs, more tax revenues and higher incomes, all of which are necessary to reduce poverty and raise living standards.”

India is the most-improved for the third year in a row as the country moved 14 places to number 63 in the global rankings.

The ten countries where the business environment improved the most were Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Pakistan, Kuwait, China, India, and Nigeria, the study found.

At the top of the global rankings is New Zealand, followed by Singapore, Hong Kong right, Korea and the United States in that order.

The World Bank studies reforms in 10 areas of business activity in 190 economies, including issues such as construction permits, getting electricity and paying taxes.

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Egobiambu Emmanuel is a Mass Communication graduate from the University of Benin. He is a media enthusiast, loves reading and writing, and has a special interest in personal development. Emmanuel is a reporter with Concise News.

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