Corporate restructuring and reforms for ease of doing business in Nigeria
Authors Grace Emmanuel Kaka, Folmi Yohanna
Affiliations: Lecturer, Bauchi State University, Gadau, Bauchi State; Nigerian-based Legal Practitioner
Source: Journal of Corporate and Commercial Law & Practice, The, Volume 4 Issue 2, 2018, p. 51 – 73
In the latest World Bank annual ratings for 2018, Nigeria is ranked 145th among 190 economies in the Ease of Doing Business Index. This is an improvement from the 169th position it occupied in the 2017 ranking. This is due to reforms initiated by the Nigerian government aimed at creating an enabling environment for doing business in Nigeria. However, more needs to be done to sustain the momentum of creating the desired environment for entrepreneurs. Lack of political will to aggressively pursue reforms in the areas of electricity procurement, tackling corruption, taxes, enforcing contracts, permits for foreigners and dispute resolutions have been cited as affecting ease of doing business in Nigeria. This article seeks to propose reforms that could improve the ease of doing business in Nigeria.