A Review of the Nigerian Energy Industry

Nigeria’s ranking drops in the ‘Ease of Doing Business’ initiative – Group

*Lagos, Nigeria.

Vincent Toritseju

21 June 2018, Sweetcrude, Lagos — NIGERIA’s ranking in the Ease of Doing Business dropped from 145 to 183, this is according to a petition written to the Presidency by the National Council of Managing Directors of Licensed Customs Agents, NCMDLA.

The petition titled “Nigeria poor Ranking on Trading Across Borders (TAB) on Ease of Doing Business and the need to urgently institute reforms to address the challenges on import, export, transit regulatory procedure” the group enumerated the challenges encountered in the process of import, Export and Transit regulatory procedure that affects Nigeria Ranking in trading across borders on Ease of Doing Business.

Part of the petition reads “Trading across Borders (TAD) on Ease of Doing Business, ranked Nigeria as number 183 out of 190 countries, which places Nigeria, as the last within the Sub-Saharan Africa and 183 out of 190 countries in the globe”.

According to the Mr Lucky Amiwero who signed the petition, said that Ease of doing Business covers 11 areas of business regulation of 190 counties, which are measured on time and cost on procedural requirements for Import, Export and the shipment of goods

Amiwero explained that time and cost is associated with three set of requirements, Documentary compliance, Border compliance, Domestic Transport that allows for comparability across all 190 counties.

He opined that Nigeria import, export, regulatory and transit procedures, is encountered with lengthy, cumbersome procedures that are associated with unnecessary delays, high Transaction cost and an increase of cargo dwell time, which makes our port the most expensive in the globe based on verifiable information.

He said that the need to reform import-export, regulatory and transit procedures, cannot be overemphasised adding that integrated set policies and procedures that are globally accepted, should be considered as well.

He added that well-coordinated processes and procedures h will ensure effective Trade Facilitation by the reduction of transaction cost, cargo dwells time and ensure safety and security of our processes.

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