Skip to main content

Ease of Doing Business: Nigeria Improves On Six Reforms

 

Details from the Ease of Doing Business report for 2020 has showed that Nigeria made improvement in six of the 10 areas measured by the bank.

The country was however, used as a case study on poor procurement – a lapse that will count in the 2121 edition of the study.

According to the study, Nigeria leaped from 145 to 131 but could suffer a setback when contracting with the government is added to the 10 topics currently measured by the World Bank commissioned research.

According to the report, the Nigerian Government awarded a contract for the rehabilitation of a local road in 2007.

The report said, “The works were slated to begin in 2009 but the project specifications had been designed six years before the contract was awarded.

“By the time the contractor started the work, the condition of the road had deteriorated significantly.”

The bank said the project was awarded at less than 60 per cent of the cost required to execute it.

It added, “At the expiration of the contract period in June 2012, the project was only eight per cent complete.

“A decade after the contract award, rehabilitation works were still underway and a trip that would typically take one hour took four.”

Since this factor did not feature in the 2020 report, Nigeria was for the second time recognised for being among the top 10 improved economies out of the 190 measured by the researchers.

The country shared this position with Togo.

According to the report, the desire of a government to make improvements on how its territory does business is caused by the achievements made in countries that are geographically or culturally close.

The report credits Rwanda with coercing Togo to becoming the best place to do business in West Africa, while Kenya is credited with having a similar effect on Nigeria.

Nigeria was also given recognition for making improvements on the enforcement of contracts and easing access to credits.

The report noted that the largest credit report company in the country, CRC Bureau, only captured four per cent of the adult population in 2007 but now hosts the database of the loan repayment history of 14 per cent of the adult population.

Business News AddThis :  Original Author :  SaharaReporters, New York Disable advertisements : 

from All Content
via

Comments

Post a Comment

Popular posts from this blog

The beautiful model Christina Evangeline: age, ethnicity, net worth, husband, baby

The art of modelling is more than merely putting on designer clothes and hitting the runway. It requires a lot of effort, self-care, determination, and an energetic spirit. Christina Evangeline, who is very attractive and beautiful, is a model who dedicated all her energy into this esteemed career. Fame and plenty of public attention came with her job, and she continues to show young women that success does not come overnight. It requires hard work and passion! Image: instagram.com, @yoevangeline Source: Instagram Who is Christina Evangeline ? According to the Christina Evangeline biography, she is a model who is best known for being Kenan Thompson’s wife. Christina was born on the 24th of March 1989 in the United States of America. Currently, Christina Evangeline age is 30 years. Her nationality is American, and she identifies herself as a Christian. Christina Evangeline ethnicity is White, and her Zodiac sign is Aries. Christina Evangeline race is Caucasian. Details of her paren...
Post a Comment
Read more

Learn how to clean washing machine in a surprisingly easy way

All machines can break down one day, and your washing machine is no exception. Knowing how to clean washing machine timely and effectively will help you reduce or even avoid additional expenses on servicing. Right now, you will be surprised to discover how easy it is! You do not even need any additional devices to do this except the ones that you already have in your house! Image: pexels.com Source: UGC A washing machine is an essential device in a modern home, but it has its own temper and demands! It reacts to the softness of water and quality of detergents that you use. In separate cases, the frequency and intensiveness of washing cycles can play their part. Now, it is time to discover several simple and cheap methods of cleaning of the essential parts of your little helper, to remove unpleasant odours, mould, and scale. The most important tips: how to clean washing machine How often is it necessary to do this cleaning? What do you think? Specialists insist on once in ...
Post a Comment
Read more