Nigeria business outlook for 2017
Nigeria is ranked 169th out of a total 190 countries in the 2017 ease of doing business report released by the World Bank.
Thu, 12 Jan 2017 13:59:11 GMT
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AI Generated Summary
- Nigeria faces challenges in its business environment due to factors such as government spending plans and foreign exchange policies.
- Despite the challenges, there are positive indicators for business growth in Nigeria, such as potential rises in oil prices and infrastructure development.
- Urgent reforms are needed to attract foreign investment, improve the ease of doing business, and stimulate accelerated economic growth in Nigeria.
Nigeria, ranked 169th out of 190 countries in the 2017 Ease of Doing Business report by the World Bank, faces a challenging yet optimistic business environment this year. Chika Mordi, the CEO of the National Competitiveness Council of Nigeria, discussed the outlook for Nigeria's business environment in a recent interview with CNBC Africa. Mordi highlighted key issues affecting business growth in Nigeria, including the impact of government spending plans, foreign exchange policy, and the ease of doing business reforms. Despite the challenges, Mordi remained hopeful for improved economic conditions in 2017. The Nigerian government's commitment to driving growth through infrastructure spending and the potential rise in oil prices were seen as positive indicators for business prospects. However, Mordi emphasized the urgent need for reforms to attract foreign investment and stimulate accelerated economic growth. As business and political leaders prepare to gather at the World Economic Forum in Davos, the spotlight is on Nigeria to make significant moves to enhance its competitiveness and attract capital in a global business landscape. The interview shed light on the critical issues facing Nigeria's business environment and highlighted the importance of swift reforms to capitalize on emerging opportunities.
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