Vice-President Yemi Osinbajo says as part of efforts to improve the ease of doing business in the country, President Muhammadu Buhari has appointed the head of professional services firm, KPMG, to lead a team of other private sector individuals to ensure that Nigeria’s ranking improves.
Osinbajo made the disclosure in Abuja while delivering his keynote address at the Public Presentation and 1st Annual Lecture of ‘The Interview’ a magazine published monthly.
The World Bank had in April rated Nigeria low on the ease of doing business amongst countries. According to the World Bank, Nigeria presently ranks 169 out of 189 countries examined for trade index for the year 2015.
However, Osinbajo, while speaking on the theme, ‘Why start-ups fail and strategies to save them’, said Nigerians and foreign investors would soon witness an improvement.
He said most of the challenges were caused by bureaucratic bottlenecks which he said the President was already tackling.
Osinbajo said, “One of the chief aims of the current government is creating an enabling atmosphere for doing business and some of us will be familiar with the fact that a month ago, the President inaugurated the ‘Enabling Business Environment Committee which I chair and the mandate of that committee as given to the Minister of Industry, Trade and Investment is that Nigeria must go up on the World Bank Ease of doing business list and I think the mandate is to go at least 50 places up before the end of 2017. Now, how will that happen?