The World Bank has commended the efforts of Nigeria and 118 nations that carried out 264 business reforms in 2016 to create jobs, attract investment and become more
competitive.
In its latest ‘Doing Business 2018: Reforming to Create Jobs report’, the global financial institution stated that 3,188 business reforms had been carried out since it began monitoring the ease of doing business for domestic small and medium enterprises around the
world.
The Chief Executive Officer, World Bank, Mr. Kristalina Georgieva, said, “Job creation is one of the transformational gains that countries and communities can achieve when the private sector is allowed to flourish.
“Fair, efficient and transparent rules, which Doing Business promotes, improve governance and tackle corruption.
“Developing countries carried out 206 reforms, accounting for 78 per cent of the total reforms, with sub-Saharan Africa implementing 83 reforms, a record for a second consecutive year for the region, and South Asia implemented 20
reforms.
“A large number of reforms centered on improving access to credit and registering a new business, with 38 reforms each, as well as facilitating cross border trade, with 33 reforms.”
