Big Evidence Emerges On What Buhari Is Doing Right, To Take Nigeria To The NEXT LEVEL

By Post-Nigeria: October 26, 2019 08:35

Big Evidence Emerges On What Buhari Is Doing Right, To Take Nigeria To The NEXT LEVEL

The Buhari Media Organisation, BMO, has said that Nigeria’s improved rating in the World Bank’s Ease of Doing Business Index, is a development that will certainly help to attract more foreign investments into the country.

According to the BMO, the leap of 15 places from last year’s ranking, put Nigeria as one of only two African countries to make this highly prestigious list of the top 10 most improved economies in the world.

In a statement signed by its Chairman, Niyi Akinsiju, and Secretary, Cassidy Madueke, the BMO said that this is the second time in three years that Nigeria has made it to the top 10 improvers in ease of doing business.

“This year, Nigeria’s rank was lifted by an improvement in six of the ten parameters considered by the World Bank for the list – 1) Ease of starting a business. 2) Dealing with construction permits. 3) Getting electricity for the same. 4) Registering your property. 5) Trading across borders. 6) Enforcing contracts.

“This is in line with the fulfillment of the projections of the Economic Recovery and Growth Plan (ERGP 2017-2020), which aims to deliver sustainable economic growth in Nigeria, by restoring growth, investing in our people, and building a competitive economy as we work towards delivering Mr. President’s mandate of bringing 100 million people out of poverty.

“The large inflow of Foreign Direct Investments (FDI) to the country, was the direct positive outcome of the Federal Government’s policy of ease of doing business, favourable investment climate, and relative security prevalent in the country. Foreign investments enabled an inflow of about eight billion dollars in 2018, in at least 85 projects, leading to the creation of about ten thousand direct and indirect jobs across the country.”

According to the Buhari group, it is obvious that our environment is now new businesses friendly, and that is why businesses are coming in.

“The number of Japanese affiliated companies in Nigeria has doubled in the last four years, growing from twenty one in 2014, to forty two last year; also, Foreign Portfolio Investment (FPI) increased by $4.5 billion, in June 2019. This is one benefit of ease of doing business.

“The Nigerian economy recorded a total investment commitment of $45.7 billion, in various sectors of the economy, within the first six months of this year. Figures obtained from the Nigerian Investment Promotion Council (NIPC), showed that the $45.74 billion investment commitments were made for forty two projects in nine States and the Federal Capital Territory. The sectoral analysis of the commitments indicates that investors were willing to invest the $45.7 billion in twelve sectors of the economy”, the statement added.

(FREE) secret Fruits that Increased My Manh0d size and Lasting Power in 7days… CLICK HERE TO GET IT!!!