The World Bank is set to evaluate the Nigeria’s 36 states and the Federal Capital Territory (FCT) on the ease of doing business within each location for the period, 2014-2018.
This sub-national ranking would be undertaken with the EBES and the Nigerian Investment Promotion Council (NIPC) providing support to the state governments in their implementation of priority reforms.
The Minister of Industry, Trade and Investment, Okechukwu Enelamah, and the Secretary to the Presidential Enabling Business Environment Council (PEBEC), Jumoke Oduwole, disclosed this thursday during their presentations to the National Economic Council (NEC).
According to duo, there are 11 indicator areas to be ranked and they include four by World Bank and seven additional areas of interest governed or implemented by state governments.
The World Bank indicators include starting a business, enforcing a contract, registering property and dealing with construction permits.
Moreso, the seven additional indicator areas include trade/investment & marketing, infrastructure, access to property, regulatory environment, institutional support & business resources, transparency & accessibility to information and security.
Unlike the global World Bank Doing Business rankings, which evaluates nations based on the performances of one or two major cities, the sub-nationals exercise would rank all states, capture local differences, help regions compete and tell their stories, and provide good practices that could be replicated.
The sub-national process cycle, which has already begun, would culminate in the release of the report and rankings in the first half of 2018.
You may recall that in July 2016, President Mohammadu Buhari due to his desire for greater investment drive into the Nigeria economy established the PEBEC, with a mandate to remove bureaucratic and regulatory constraints to doing business in the country.
The 2018 Nigerian sub-national rankings would be the fourth in the series, following similar efforts by the World Bank in 2008, 2010, and 2014.
Since 2005, the World Bank Sub-national reports have benchmarked 438 locations in 65 economies.
The reports have established a strong relationship between Ease of Doing Business Rankings and economic prosperity in affected countries.
The World Bank Global Ease of Doing Business Ranking evaluates 190 countries annually across 11 indicator areas.
However, depending on a country’s population, the World Bank collects data from only one or two cities in each participating country and in Nigeria had used data collected from Lagos and Kano these years.
The report would also capture features like local differences, with different states able to compete and tell their stories, best practices shared and success stories replicated.
The benefits of the ease of doing business to the states include jobs and improved quality of life for citizens; competitiveness and investment readiness as well as improved efficiency and transparency.