Tag "ease of doing business"

    Nigeria jumps 15 places on World Bank’s Ease of Doing Business ranking

Nigeria jumps 15 places on World Bank’s Ease of Doing Business ranking

Nigeria is now ranked 131 globally on the World Bank's Ease of Doing Business ranking, moving up by 15 places from its 2019 spot.The Bretton Wood institution released the report in the early hours of Thursday.A comparison of business regulation in 190 countries across the world formed the basis of the ranking."Nigeria conducted reforms impacting six indicators, including making the [...]

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    Zainab Ahmed: We’re working to grow our economy as fast as China’s

Zainab Ahmed: We’re working to grow our economy as fast as China’s

Zainab Ahmed, minister of finance, budget and national planning, says the federal government is working towards growing the nation's economy at a similar pace with China's.Speaking at a news conference on the forthcoming 25th Nigerian Economic Summit in Abuja on Monday, Ahmed said there are plans for operational, regulatory and legislative interventions to move the country to the top 100 [...]

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    PEBEC unveils mobile app to aid Nigeria’s ease of doing business

PEBEC unveils mobile app to aid Nigeria’s ease of doing business

The Presidential Enabling Business Environment Council (PEBEC) has unveiled its REPORTGOV.NG mobile and online application for public service feedback and complaints.The platform, which is also a website, is expected to facilitate the escalation and resolution of issues encountered with ministries departments and agencies (MDAs) towards ensuring a more business-friendly environment.The app was launched by Okechukwu Enelamah, the minister of industry, [...]

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    PEBEC launches action plan to tackle challenges of starting a business

PEBEC launches action plan to tackle challenges of starting a business

The Presidential Enabling Business Environment Council (PEBEC) has commenced the fourth run of its 60-day national action plan (NAP 4.0) on ease of doing business.This, the council said, is in line with its "commitment to delivering reforms aimed at improving the enabling environment for doing business in Nigeria through systemic interventions".In a statement on Tuesday, the council said NAP 4.0, [...]

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    Kano judiciary moves to enable speedy dispute resolution for SMEs

Kano judiciary moves to enable speedy dispute resolution for SMEs

The Kano state judiciary has inaugurated a small claims court  to enable speedy resolution of commercial disputes for small and medium scale enterprises (SMEs).The launch was in partnership with the Presidential Enabling Business Environment Council (PEBEC), which "aims to make Nigeria a progressively easier place to do business".This is according to a statement signed by Jumoke Oduwole, PEBEC secretary, on [...]

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    CAMA amendment, ‘largest’ business reform bill in 28 years, scales third reading

CAMA amendment, ‘largest’ business reform bill in 28 years, scales third reading

The Companies Allied Matters Act (CAMA) amendment bill has passed the third reading at the house of representatives.Jumoke Oduwole, secretary of the Presidential Enabling Business Environment Council (PEBEC), made this known in a statement issued on Tuesday.The Bill, which was passed by the Senate in 2018 is the largest business reform bill to be passed in Nigeria in over [...]

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    Nigeria drops on World Bank’s Ease of Doing Business ranking

Nigeria drops on World Bank’s Ease of Doing Business ranking

Nigeria has dropped a spot on the latest World Bank Ease of Doing Business ranking.The bank released the report themed 'Doing Business 2019: A Year of Record Reforms, Rising' on Wednesday.In the 2018 edition of the report, Nigeria moved 24 places from its 2016 spot of 169 to 145.In the 2019 edition, Nigeria ranked 146. Mali took Nigeria's 2018 spot.The [...]

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    Forbes ranks Rwanda, S’Africa over Nigeria on ‘investor protection’

Forbes ranks Rwanda, S’Africa over Nigeria on ‘investor protection’

Forbes has ranked Nigeria 3rd best in Africa in terms of "investor protection".Rwanda and South Africa were rated above Nigeria on the African continent. A total of  153 countries were surveyed.The American business magazine made this known in its Index of Best Countries for Business Report released on Friday.The report said in the period under review, Nigeria experienced positive economic growth driven [...]

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    LADOL seeks fair review of free zone tariffs

LADOL seeks fair review of free zone tariffs

Amy Jadesimi, managing director of Lagos Deep Offshore Logistics Base (LADOL), says the company will collaborate with the federal government to ensure fairness in the review of free zone tariffs.Jadesimi said this will help foreign and local investors with operations in the free zone to benefit from the scheme in line with the government’s ease of doing business mandate.She made [...]

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Improved investors’ confidence boosts Nigeria’s ‘risk-reward score’

Improved investors’ confidence has boosted Nigeria’s risk-reward score according to the 2018 Africa Risk-Reward Index from Control Risks and Oxford Economics.The latest report shows that in Africa, Nigeria comes fourth after Zimbabwe, Egypt and Ghana for demonstrating the most positive changes for business.The improvement in reward score, and reduction in risk scores will attract more investors to these countries, the [...]

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    CAC targeting two-hour company registration by December

CAC targeting two-hour company registration by December

The Corporate Affairs Commission (CAC) says it hopes to reduce the time spent to register a company to two hours from 24 hours by December 2018.Azuka Azinge, the acting registrar-general, CAC, made this known during a visit of the senate committee on trade and investment to the commission’s Lagos office in Ikeja on Thursday.She said the commission has created an [...]

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CAC: By December, business registration should be completed in 2 hours

The Corporate Affairs Commission (CAC) has set a target of December this year for business registration to be completed in two hours.Revealing this plan in Lagos, Azuke Azinge, the acting director general of CAC said the organization was determined to use innovative strategies to ease the process of business registration in Nigeria, in line with the government’s resolve to improve [...]

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BPSR: Over 70% of Nigeria’s MDAs have no website, functional phone numbers or e-mails

The Bureau of Public Service Reforms (BPSR) says over 70 percent of ministries, departments and agencies (MDAs) in Nigeria have no websites and less than 25 percent have functional telephone numbers and e-mails. The Pulse reports that this statement was made by the acting director general of BPSR, Dasuki Arabi at the first edition of BPSR reform seminar in AbujaThis shortcoming has not [...]

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INTERVIEW: Only proactive policies, strong political will can sustain Nigeria’s economic expansion, says Temitope Obaweya, business analyst

Since the advent of the Muhammadu Buhari administration, the diversification of the Nigerian economy has occupied the front burner.But after the nation entered a recession in Q3 of 2016, there were fears falling earnings from crude oil, coupled with militant attacks on the energy infrastructure, and a drastic capital flight arising from forex controls would make the dream of having [...]

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    It’s a ‘great time’ to be an American company in Nigeria

It’s a ‘great time’ to be an American company in Nigeria

Darrell Mcgraw, a board member of the American Business Council (ABC) and senior partner at PriceWaterhouse Coopers (PWC), says the environment in Nigeria is good for American businesses.Mcgraw said this at a press conference in Ikoyi, Lagos, on Tuesday.“It’s a great time to be an American company in Nigeria,” he said.“There’s clearly an optimism… of going into 2018 with our heads held [...]

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    NIPC: FG to set up $1bn crop processing zone in Niger

NIPC: FG to set up $1bn crop processing zone in Niger

Aminu Takuma, deputy director at the Nigerian Investment Promotion Council, says the country plans to establish a $1 billion crop-processing park in Niger state.The senior official said the aim of the park is to improve the value of agricultural produce and boost exports.The facility, Badeggi Crop Processing Zone, is expected to start in June 2018 with an initial investment of [...]

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Exchange Rates

November 06, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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