Nigeria has emerged amongst the top 20 nations in ”Improvers of Doing Business 2020”, an annual report by the World Bank.
Other African countries on the list were Kenya, Djibouti, Zimbabwe and Togo. The report measures business regulations across 190 countries in the world.
Some of the reasons stated for Nigeria’s impressive projections for the year 2020 are; ease of registration of businesses with the Corporate Affairs Commission (CAC), land administration methods of the Lagos State government, electronic initiatives of the Nigerian Ports and Customs i.e e-payment methods.
The World Bank report stated that;
”Nigeria made starting a business easier by operationalizing a new electronic platform that integrates the tax authority and the Corporate Affairs Commission (CAC). The CAC also upgraded its name reservation platform and, in Kano, there is now an electronic platform for registering business premises online, eliminating the need to appear in person. In Lagos, land administration was made more transparent following the digitization of cadastral plans in a geographic information system; digital copies of cadastral plans are now easily obtainable. Nigeria also made getting electricity easier by allowing certified engineers to conduct inspections for new connections. Initiatives also made commercial litigation of smaller cases more efficient.
”The Chief Judges in Lagos and Kano issued practice directions for small claims courts introducing pre-trial conferences and limit adjournments. Finally, customs integrated more agencies into its electronic data interchange system, and port authorities launched an e-payment system, speeding up both exports and imports.”