The World Bank Doing Business Report 2016 says Nigeria remains one of the poorest business destinations in the world, improving marginally by just one step from its ranking last year.
Out of 189 countries surveyed, Nigeria moved from 170th position with 43.56 per cent points in 2015 to 169 with 44.69 per cent points.
The World Bank said it was more difficult to do business in Nigeria in 2016 than it was last year. The country equally improved by just one step in 2014 to the previous position last year.
While Nigeria’s ranking for starting business dropped eight places from 131st position in 2015 to 139th; dealing with construction permits remained unchanged at 175th spot as last year.
Getting electricity became more difficult in 2016, as the country fell in ranking from 181st position to 182nd, while registering property improved by four places from 185th to 181st, and getting credit gets is becoming tougher with a seven place drop in ranking from 52nd ranking to 59th.
Other rankings included protecting minority investors, which recorded the highest improvement of 13 steps up the ladder from the 33rd position last year to 20th in the current ranking, with paying taxes, trading across and borders enforcing contracts remaining unchanged at 181st, 182nd and 143rd positions respectively.
In Africa, the best business destinations are Mauritius, ranked at 32nd, Rwanda at 62nd position, Botswana and South Africa at 72nd and 73rd ranking respectively.
Ghana emerged tops from the West African sun-region on 114th position.