World Bank Thinks Nigeria is 122nd best place for business ( Do you agree or not ?)

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The World Bank has ranked Nigeria 147th among the best places for doing business. Additionally it ranked the nation while the 122nd for best countries to start a business. The report released, yesterday, said Nigeria's low ranking is mainly brought on by electricity problems, where the nation is ranked 185th out of 189 countries evaluated. The very first African country on the list is Rwanda, ranked 32nd.

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The report said in Africa, 66 per cent of countries enacted a minumum of one reform a year ago, against 33 per cent in 2005, adding that nine African countries make-up the utmost effective 20 most improved with regards to business regulations since 2009: Benin, Burundi, Cote d'Ivoire, Ghana, Guinea-Bissau, Liberia, Rwanda, Sierra Leone, and Togo.

The report said economies are ranked on the ease of doing business, from 1 – 189. A high ranking on the ease of doing business index means the regulatory environment is more conducive to the starting and operation of a nearby firm. This index averages the country's percentile rankings on 10 topics, composed of a number of indicators, giving equal weight to each topic. The rankings for many economies are bench-marked to June 2013.