According to data released by the World Bank in its 2016 annual ease of doing business measurement, Nigeria ranked 169 among 189 countries.
Although Nigeria moved from 170, its 2015 ranking to 169 in 2016, the largest economy in Africa was outpaced by reform-minded countries in the sub-Saharan sub region.
Other African countries including the neighboring Benin Republic fared much better in how easy it is to start a business in their countries.
The report showed that developing economies quickened the pace of their business reforms during the last 12 months to make it easier for local businesses to start and operate, Nigeria however, continues to lag behind as other countries introduced measures to fast track businesses.
In the global ranking stakes, Singapore retained its top spot. Joining it on the list of the top 10 economies with the most business-friendly regulatory environments are New Zealand, in second place; Denmark (3); Republic of Korea (4); Hong Kong SAR, China (5); United Kingdom (6); United States (7); Sweden (8); Norway (9); and Finland (10).
The world’s top 10 improvers, which are economies that implemented at least three reforms during the past year and moved up the rankings scale, were Costa Rica, Uganda, Kenya, Cyprus, Mauritania, Uzbekistan, Kazakhstan, Jamaica, Senegal, and Benin.
·Mauritius had the region’s highest ranking, at 32. Rwanda had the second highest (62), followed by Botswana (72) and South Africa (73).
·Other large economies in the region and their rankings were Kenya(108), Nigeria (169), and Uganda(122).
·Those with the region’s lowest rankings are Eritrea (189), South Sudan (187), and the Central African Republic (185). Rwanda ranks among the best in the world in Getting Credit (2) and Registering Property (12).
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