The Nigerian Investment Promotion Commission says the country is
currently rated 146 of 190 countries on the global Ease of Doing
Business, according to rating by the World Bank.
This rating was revealed by the Executive Secretary of the Commission,
Yewande Smith, in Lagos.
The report, which was presented at the lecture, Nigeria’s Ease of
Doing Business score shows that there was an improvement of 1.37
points from 51.52 distance to frontier in 2018 to 52.89 in 2019.
She added that the Commission had adopted some proactive strategies
geared towards improving Nigeria’s Investment Promotion, thereby
helping to create ease in doing business.
“The Proactive Investment Promotion strategies include focusing on key
strategic partners and countries, identifying high impact sectors,
better balance investors’ rights with obligations, improving investor
experience and using feedback to develop the business environment.”
Others are: proactively inviting target companies to Nigeria and
hand-holding them through the decision making and the implementation
process, and encouraging more Nigerians to invest in the country.
“We encourage states to develop investment promotion agencies so that
they will be specifically charged with the responsibility of promoting
the states,’’ she said.
She urged the government to enable investors so they can create more
jobs that will have a significant impact on the economy, the News
Agency of Nigeria reports.