The Nigerian Investment Promotion Commission has said that Nigeria ranks 146 out of 190 countries on the Ease of Doing Business index globally.
The Executive Secretary of the Commission, Ms Yewande Sadiku, said this while delivering a lecture at the ongoing 43rd Annual Conference and Dinner of The Institute of Chartered Secretaries and Administrators of Nigeria, on Thursday in Lagos.
The conference was tagged, โEase of Doing Business in Nigeria: The Role of Regulatory Agencies.โโ
Sadiku, who was represented by Mr Mutawalli Kukawa, Acting Director, Investment Relations, NIPC, said the ranking was carried out by the World Bank.
According to the report, which was presented at the lecture, Nigeriaโs Ease of Doing Business scores improved by 1.37 points from 51.52 distance to frontier (DTF) in 2018 to 52.89 in 2019.
She added that the Commission had adopted some proactive strategies geared towards improving Nigeriaโs Investment Promotion, thereby helping to create ease in doing business in Nigeria.
โThe Proactive Investment Promotion strategies include focusing on key strategic partners and countries, identifying high impact sectors, better balance investorsโ rights with obligations, improving investor experience and using feedback to develop the business environment.
โOthers 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.
โWe encourage states to develop investment promotion agencies, so that they will be specifically charged with the responsibility of promoting the states,โโ she said.
Sadiku, however, cautioned investors to ensure that they abide by the relevant investment laws in the nation.
She urged government to enable investors so they can create more jobs that will have a significant impact on the economy.
