President Muhammadu Buhari has commended the progress recorded by Nigeria on the latest World Bank’s 2020 Ease of Doing Business Index (DBI).

The President reacted in a statement on Thursday by his Special Adviser on Media and Publicity, Mr Femi Adesina, following the announcement that Nigeria moved up by 15 spots from the 146th position it was last year.

The report also noted that Nigeria was one of the top 10 most improved economies in the world under the period of review.

Welcoming the announcement, President Buhari said, “The movement of 15 places to 131, as well as the recognition being given to Nigeria as one of the top 10 most improved countries, that have implemented the most reforms this year, is significant because we were not even able to achieve some of the key reforms we had pursued, but what we have done so far is being recognised.

“This validation confirms that our strategy is working and we will continue to push even harder to deliver more impactful reforms.”

The President noted the impending ratification of the Companies and Allied Matters Bill and the introduction of the Business Facilitation (Omnibus) Bill, 2019, which he said were in view along with other pending and ongoing regulatory, judicial and sub-national reforms.

He added, “The announcement by the World Bank indicates that our mandate to move into the top 70 doing business destinations by 2023 remains achievable.”

Earlier, the Minister of Industry, Trade and Investment and Vice Chairman of the Presidential Enabling Business Environment Council (PEBEC), Niyi Adebayo, briefed the President on the ranking.

He noted that the steady improvement in the nation’s ease of doing business score and rank was a testament to the reforms implemented by the present administration since its inception.

“The PEBEC works towards the fulfillment of the projections of the Economic Recovery and Growth Plan (ERGP 2017-2020), which is striving to deliver sustainable economic growth in Nigeria by restoring growth, investing in our people, and building a competitive economy as we work towards delivering Mr President’s mandate of bringing 100 million people out of poverty.

“The 2020 Doing Business report from the World Bank has reaffirmed the commitment of the newly constituted PEBEC to making Nigeria a progressively easier place to do business and removing the bureaucratic constraints to doing business in the country as we forge ahead in this Next Level,” the minister said

On her part, the Special Adviser to the President on Ease of Doing Business and PEBEC Secretary, Dr Jumoke Oduwole, believes the private sector remains the fulcrum of the ease of doing business interventions.

She said, “We are committed to more engagements among reform-implementing organs of government and the private sector players, and we are happy to see that these have resulted in a more favourable validation of the reforms by the private sector.”

“This result will serve as encouragement to sustain the deepening of these reforms and make it even more tangible for businesses and the citizenry.

“The PEBEC is focused on delivering even more substantive reforms for the improvement of the general business climate,” the presidential aide added.