BUSINESS WORLD:Nigeria Ranked the 122nd best country to start a business by World bank

From the world of business, world bank has ranked Nigeria as the 147th place in the world to do business, and the 122nd best place to start a business.

The report as released yesterday , said nigeria’s low ranking is mainly caused electricity problems , where the country is ranked 185th out of 189 countries evaluated . The first african country named is Rwanda that comes 32nd.

The reports say that in africa, 66 percent of countries enacted at least one reform last year, against 33 percent in 2005, adding that nine african countries make-up the top 20 mst approved in terms of business regulations since 2009, Benin, Burundi, Cote d’Ivoire, Ghana, Guinea-Bissau, Liberia, Rwanda, Sierra Leone and Togo.

Reports say that countries are ranked on their 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 operating of a small firm.

The index averages the country’s percentile rankings on ten topics, made-up of variety of indicators, giving equal weight to each topic. The ranking for all economies are benched marked to june 2013.