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Tag Ease of Doing Business

Economy

Ease of Doing Business : Expert advocates reliable energy supply to improve Nigeria’s ranking  

 

Business

 

By Simon Akoje

Lagos, Oct. 24, 2019 (NAN) An economist, Dr Uju Ogubunka says there is need for  regular energy supply  for entrepreneurs, in order to improve the country’s position in the ease of doing business.

Ogubunka, a former Executive Secretary, Chartered Institute of Bankers of Nigeria (CIBN), made the call in an interview with the News Agency of Nigeria (NAN) in Lagos on Thursday.

He also called on government to invest in regular power supply, to ensure improved businesses.

“Inadequate power supply is one of the major challenges impeding the growth of business and development of the country.

“It is responsible for the country’s low level of industrialisation in spite of the nation’s potential,’’ he said.

He urged government to facilitate the banks to give cheaper funds to entrepreneurs to grow their businesses.

“The monitory authorities should reduce the rates for banks, to make them issue affordable credits for budding businesses.

“ The rates issued by banks to businesses should be in one digit in order for entrepreneurs to expand into new frontiers.’’

He also called on government to address multiple taxation to enable expansion of businesses in the country.

NAN reports that from its 146th position in the previous ranking, Nigeria has moved up 15 places to rank 131 out of 190 nations in the latest World Bank’s ease of doing business ranking.

The country scored 56.9 as against 52.9 it scored in the previous ranking released on October, 24, 2019.

Ease of doing business is an index published by the World Bank. It is an aggregate figure that includes different parameters which define the ease of doing business in a country.

Doing business ranking is also based on quantitative indicators on regulation for starting a business. (NAN)

STA/VIV/DUA

Editing by Vivian Ihechu/Dada Ahmed

Economy

Audio: ECCIMA praises ease of doing business initiative for enhanced economy

NAN-HE-17

Business

By Franca Ofili

Abuja, March 8, 2018 (NAN) The Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA), says the ease of doing business initiative has enhanced the country’s economy.

 

The President of the chamber, Mr Emeka Udeze, made this known in an interview with the News Agency of Nigeria (NAN) on Thursday in Abuja.

 

He, however, said that the process that would lead to more yield from the ease of doing business was still ongoing.

 

Cue in audio (Udeze)

 

“The process is still ongoing and it has been brought down to the states and in my state I am part of the committee.

 

 

“Ease of doing business moved Nigeria 20 points up in the last rating of the World Bank.

 

“The next rating will be in the next 60 days and I believe that

Nigeria will move even higher because work is still ongoing on ease of

doing business in Nigeria.’’

 

 Cue out audio

 

Nigeria scaled up 24 points in the Ease of Doing Business Index moving from 169th position out of 190 to 145th.

 

The Ease of Doing Business is an index by the World Bank to score and rank countries based on how easy it is to set up and operate a business in such countries.

 

Udeze said the country had witnessed influx of investors’ adding that it had a large market to attract foreign investments.

 

He said: “For as long as there are human beings in this country and the economy continues to improve and security continues to improve they cannot stop coming because they must sell to a large population.

 

“So investors are tremendously interested in Nigeria.’’

 

FNO/LAB/YEE

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Edited by Lydia Beshel/Emmanuel Yashim

 

 

General news

SON meets stakeholders in North West on Ease of Doing Business

NAN-H-57
Sensitization
By Bosede Olufunmi
Kano, Nov.14, 2017 (NAN) The Standard Organization of Nigeria (SON) on Tuesday met with stakeholders in the North West region of the country to sensitise them on the Ease of Doing Business policy in the country.

The Director General of SON, Mr Osita Aboloma, who was represented by Mr Bede Obayi, a director in the organisation, said the meeting would sensitise business operators on government new policy on ease of doing business.

He said that it would also ensure Nigerians are educated on the need to conform to standards and international best practices in the manufacturing, importation, distribution and sales of goods and services in the country.

The DG said that arrangement has been made by SON to ensure compliant trade in the country, adding that non-complying goods would be segregated for further action in line with the agency’s mandate.

Aboloma explained that the agency’s experience has revealed that most non-compliance involves; no country of origin printed on some imported products for sale, faking of Nigerian-made products already certified by SON and no brands on imported products to enhance traceability.

He added that some practitioners have been assembled in the field to address the unfolding circumstances in the interest of public safety.

“Nigerians should embrace the culture of patriotism and compliance to relevant product standards as the organisation strive to improve the lives of Nigerians through standards products,” he said. (NAN)
BO/IS
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Edited by Ismail Abdulaziz