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Business | Doing Business in Nigeria

2018 Sub-National Doing Business Report: Kaduna Is The Easiest Place to Enforce A Contract

Oct 21, 2018   •   by   •   Source: Proshare   •   eye-icon 5901 views

Sunday, October 21, 2018 2.00PM / WorldBank

 

Kaduna State emerged the easiest place toenforce a contract from the 4th Sub-National Doing Business reportfor Nigeria.

The report which is developed by the World Bank showedthat in Kaduna State, resolving a standardized commercial dispute takes 307days and costs 25.2% of the claim value.

It also disclosed that 28 states in Nigeria have mademajor improvements in starting a business since 2014, which was made possiblewith the use of an online platform, simplification of incorporation forms andestablishment of new stamp duty forms.

From the Sub-National report it was alsodiscovered that transferring property in Nigeria requires on average 12procedures and costs more than 15% of the property value, making the processtwice as cumbersome and expensive as in the average economy in Sub-SaharanAfrica. 

Jigawa Statewas the fastest in the process of implementing construction permits which takes33 days, while Niger came out the easiest as it takes 11 procedures and 53days, at a cost of 3.9% of warehouse value. 

At the moment no single Nigerian state dominates the indicatorrankings across all areas benchmarked. The results show that most states, ifnot all, have something to showcase and something to learn. 

Mostreforms were federally driven in the area of starting a business, and most werefocused on the efficiency of processes rather than the quality of regulations.

An interesting part in the reportrevealed that Kaduna, Enugu, Abia, Lagos andAnambra  states made the largest advance toward the global good practicefrontier. 

From the report , 29 Nigerian states in the last fouryears  implemented 43 reforms across the four areas benchmarked namely;

  • Starting abusiness,
  • Dealing withconstruction permits,
  • Registeringproperty and
  • Enforcingcontracts.

 

The report covered the 36 States of thefederation and the Federal Capital Territory (FCT)

ClickHere to Download Doing Business in Nigeria 2018 PDF Report 


 Proshare Nigeria Pvt. Ltd.


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