The Nigerian Investment Promotion Commission (NIPC) has launched an up-to-date online portal (iGuide Nigeria), an online guide to doing business in Nigeria, containing necessary information and relevant data for willing investors.
The Minister of Industry, Trade, and Investment, Mr. Okechukwu Enelamah, at the launch in Abuja on Thursday, said the portal would greatly improve the Ease of Doing Business in the country.
The minister who was represented by the Permanent Secretary of the Ministry of Industry, Trade, and Investment, Mr. Edet Sunday Akpan, said: “The ranking of Ease of Doing Business, for now, is not good enough for Nigeria; we are working hard to ensure that in the next ranking the country will be among the top 10.”
The latest World Bank rating of Ease of doing business (2018) says Nigeria ranks 145 out of 190 countries listed in the Ease of Doing Business index for 2018. The report indicated that Nigeria had moved up by 24 points from the 169th position on the 2017 ranking and also 170th position on the 2016 ranking to 145th position in the World Bank 2018 Report.
Ms. Yewande Sadiku, the Executive Secretary, Nigerian Investment Promotion Commission (NIPC), said the iGuide Nigeria portal would help investors get access to the basic information needed to make better-informed decisions about Nigeria, as a preferred investment destination. “ iGuide Nigeria portal is an easy to use online platform providing investors with up-to-date and pertinent information on the processes, procedures and basic costs of doing business in Nigeria. It provides information on starting business, labor, production factors, land, taxes, investor rights, growth sectors, and opportunities. According to her, the purpose of the iGuide Nigeria portal is put together with the support of United Nations Economic Commission for Africa (UNECA) and United Nations Conference on Trade and Development (UNCTAD). Ms. Yewande Sadiku also said that the iGuide Nigeria portal would be updated quarterly and that it had language functionality (it contains different languages). “It is a marketing tool, as information on Nigeria’s investment processes and procedures are on one platform for easy access,’’ she said. Nigeria was among the first four countries to improve on iGuide says Mr. Emmanuel Chinyama, Economic Commission for Africa Officer. Chinyama said the portal was the best way to fast-track process of doing business which contained local data, relevant rules, and contacts.