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World Bank raises alarm over Nigeria’s economy

28 October 2015, 16:05

Abuja - The World Bank has ranked Nigeria 169 among the 189 countries assessed on economic reforms implementation despite sustained efforts by the federal government to improve Nigeria’s business environment, National mirror reports.

The ‘Doing Business 2016: Measuring Regulatory Quality and Efficiency’ report published yesterday by the World Bank showed that Nigeria moved just a point higher than the 2015 position of 170th in the global rankings.

The country also scored poorly in Distance to Frontier assessment index, scoring 44.69 per cent in 2016 as against the 43.56 per cent in 2015.

During the period under review, the country was reported to have carried out two reforms more than it did last year.

Also read: World Bank to spend up to $2.1 billion to rebuild Nigeria's northeast

Of the 35 countries covered by the report in Sub-Saharan Africa, Nigeria came 25th, with Mauritius, Uganda, Kenya, Mauritania, Benin and Senegal ranking among the top best improvers.

According to the report, out of the 69 reforms carried out in 35 economies in Sub-Saharan Africa, 14 of the OHADA’s 17 member countries implemented 29 reforms.

Read more at National mirror

- News 24


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