Nigeria still failing woefully in every parameter in ease of doing business—UNIDO
Contrary to continuous claims by the federal government that recent policies it rolled out to push up ease of doing business are working, the UNIDO Representative to ECOWAS and Regional Director, Nigeria Regional Office Hub, Mr. Jean Bakole weekend said measuring parameters are still in reds.
He said the country ranks very poorly in the Ease of Doing Business 2017 report, ranked 169th in 190 countries, making it one of the most difficult places to do business globally.
Even within Africa, Bakole said the country is ranked 37th in 52 countries, doing better than just 15 other nations.
Explaining more during the 57th Annual General Meeting and Conference of the National Association of Chamber of Commerce, Industry, Mines and Agriculture (NACCIMA), held in Abeokuta, the Ogun state capital, the UNIDO officer said ease of doing business creates the needed impetus for economic recovery and sustainable growth, especially as the country is battling recession.
The theme of the conference was Enhancing Ease of Doing Business in Nigeria: An Impetus To Economic Recovery and Sustainable Growth.
According to him, apart from Nigeria space not being friendly when it comes to doing business and taking business decisions by investors, the country failed woefully in every parameter used in measuring, which includes starting a business (ranked 138), construction permits (174th), electricity (180th) and paying taxes (182nd). Others are trading across borders, enforcing contracts and resolving insolvency.
While stressing that a good business environment is a prerequisite for the growth of manufacturing and services which Nigeria is seriously lagging behind, Bakole hinted that when compared with other members of MINT (Mexico, Indonesia, Nigeria and Turkey), the country is not doing well.
In his further submissions, he revealed that among the key factors that put other MINT members ahead of Nigeria include absolute transparency in government business policies and their consistencies.
Other factors include clearness in public-private partnerships, less corrupt tendencies in government businesses, adequate use of country’s human, natural and material resources for national development.
Again, there is need for availability of enduring credit system, land documentation and government documentations.
Top dignitaries at the conference included former President Olusegun Obasanjo, represented by Chief Mrs. Bola Obasanjo, Governor Ibikunle Amosun, represented by the commissioner for commerce and industry, Hon. Bimbo Ashiru, all the presidents of city and state chambers of Commerce.
