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Sunday, 6 March 2016
Nigeria ranks 182 out of 189 in World Bank ease-of- doing-business rating
Nigeria slumped backwards in the latest World Bank
Ease-Of-Doing-Business chart, as the nation’s
economy slumped to number 182 out of 189
economies in 2016; a figure that was 20 places
worse off than what the nation polled in the last
quarter of 2015 when she was ranked 169.out of the
same number of economies.
According to the World Bank Doing business-Trading
across borders report 2016, Nigeria economy is just
better than 6 economies globally in terms of ease of
doing business across trade border.
Parameters used in the latest World Bank report are
Customs clearance and inspections; inspection by
other agencies of government; port or border
handling at most widely used port or border of the
economy; obtaining, preparing and submitting
documents during clearance, inspections and port or
border handling amongst others.
Shedding more light on why there is a lull in cargo
throughput at the nations seaports and vessels are
beign diverted to neighbouring ports, the World
Bank document reveals that in Ghana, it will take an
importer about 23 days (564 hours) to complete all
necessary border and documentary compliance
certificates to bring in goods into the country, while
an exporter will spend 8 days (197 hours) to
complete all necessary documents for export.
However, in Nigeria, for trade across border, an
importer will spend 55 days (1327 hours) to
complete all necessary border and documentary
compliance certificates to bring in goods into the
country while an exporter will spend 12 days (290
hours) to complete all necessary documents for
export.
On the cost to importers in Ghana, the report stated
that it will cost an importer $1027 US Dollars to
import goods into the country while an exporter will
spend $645 US Dollars to export goods out of the
country.
In Nigeria, the indicators reveal that it will cost an
importer $471 US Dollars to import goods into the
country while an exporter will spend $1036 US
Dollars to export goods out of the country. The
higher cost of exporting goods out of the country
sums up the low level of participation in export
exercises at the nations seaport.
On the African continent, the report reveals that
Swaziland is number one in terms of ease-of-doing-
business across borders while Ghana ranks ahead of
Nigeria in number 171.
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