The ease of doing business in Nigeria is improving, but the country still has a long way to go in its journey to attracting foreign investment and boosting trade levels.
So said Yewande Sadiku, CEO of the Nigerian Investment Promotion Commission, speaking at the recent GTR West Africa conference in Lagos.
Nigeria is ranked 146 among 190 economies in terms of ease of doing business, according to the latest World Bank annual ratings. This improvement from a ranking of 170 in 2015 is thanks to a range of government measures, such as the streamlining of visa application processes for travellers and the implementation of a single window system at the country’s ports, Sadiku said.
The Nigerian Investment Promotion Commission is a government agency established to promote and co-ordinate investment in Nigeria. It houses 27 government agencies in a ‘one stop investment centre’, which provides investment facilitation services, processes regulatory approvals, and permits and assists with information on issues related to incorporation and expansion.
In this video, taken at the event in Nigeria, Sadiku talks about the government’s measures to improve Nigeria’s trade environment, and the challenges it faces in doing so.