World Bank Ranking: This is fantastic news, no excuse for us to slow down – Osinbajo

The World Bank has urged the Presidential Enabling Business Environment Council (PEBEC) to sustain the momentum of keeping Nigeria in the good business ranking across the globe.
Nigeria has moved from 169 to 145, 24 places on the World Bank ranking.
The Country Director, Rachid Benmessaoud said this when he presented the report on the Ease of Doing Business ranking to the Vice President, Yemi Osinbajo.

More work to be done

Osinbajo said the progress made by the government won’t make it to be complacent on its reforms.

Vice President Yemi Osinbajo receives world ranking report from the World Bank Country Director, Rachid Benmessaoud at the State House

“This is fantastic news, but by no means an excuse for us to slow down. Instead, we’re taking it as the very reason why we need to ramp up our reforms, for the benefit of Nigeria. There is still work to be done in reducing bureaucratic bottlenecks in the award of contracts and generally in obtaining approvals,” Osinbajo said in a statement by his spokesperson, Laolu Akande.
“It is for this reason – the creation of a business environment that catalyses business activity and investment – that this year alone we have issued an Executive Order focusing on improving the business environment, and launched two National Action Plans designed to be short-term interventions aimed at implementing specific business environment reforms. The second National Action Plan is ongoing, and we expect that it will yield results across every sector of the economy, including the OPTS.”
According to him, the Federal Government is also making progress towards reforming and repositioning the country’s oil and gas sector – through its sector road map launched in October 2016.

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