Nigeria, Africa’s biggest economy is ranked 170th out of the 189 nations surveyed on a list of best countries to do business.
The ranking was carried out by the World Bank group and can be accessed on Doing Business
The latest ranking shows a slight improvement over the score for 2014, when it was ranked 175th. In starting a business, Nigeria ranked 129th, a slight improvement over last year’s score at 138th. In getting construction permits, Nigeria is ranked 171st, getting electricity 187th, registering property 185th,paying taxes 179th, enforcing contracts 140th. Nigeria’s generally improved rating was helped by improvements in accessing credit, where it jumped 73 places from 125th last year to 52nd globally.
South Africa is ranked 43rd, sliding down six places over its position last year, when it was ranked 37th globally. Ghana is also ranked 70th, 100 places ahead of Nigeria. Mauritius, the island African nation is ranked 28th in the world.
Singapore, New Zealand and Hong Kong are the world’s easiest places to run a business.
Top ten countries in the world are :
1: Singapore
2: New Zealand
3: Hong Kong
4: Denmark
5: South Korea
6: Norway
7: United States
8: Britain
9: Finland
10: Australia
While the worst 10 countries are :
189: Eritrea
188: Libya
187: Central African Republic
186: South Sudan
185: Chad
184: Democratic Republic of Congo
183: Afghanistan
182: Venezuela
181: Angola
180: Haiti