EASE OF DOING BUSINESS:OGUN, LAGOS, RIVERS RANKS LOW
Ogun, Lagos, and Rivers states have been ranked low among other states of the federation in ease of doing business.
According to the World Bank, the ranking of economies is determined by sorting the aggregate ease of doing business scores.
The aggregate ease of doing business score for each economy is the simple average of their scores on each of the topics included in the ranking: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
Domestically, each state is expected to have policies that would attract businesses and make such a state the investor’s destination of choice. The ease of doing business in a State has to do with how easy it is for an investor to get their businesses registered; how convenient it is to acquire lands and landed property; is the state secure? Is there electricity? How friendly are government policies and taxation? How motorable are the roads? Is the State prone to natural disasters like flooding.
For example, Lagos, despite being the commercial nerve center of the nation; the state with the highest IGR and a megacity, is ranked 20th among the 36 States of the federation in ease of doing business.
Ogun is rated 19th, despite being the nation’s industrial capital and one of the states with the highest IGR in Nigeria as of 2021.
Ironically, three northern states, Gombe, Sokoto, and Jigawa, are rated as the top three States where it is mostly easy to do business in Nigeria. Gombe has one of the lowest IGR in Nigeria, while Sokoto and Jigawa come 18th and 7th respectively in IGR ranking.
According to Budgit, the data about each state’s rank were gathered from the Presidential Enabling Business Environment Council.
