Nigeria Has Moved Up Global Business Ranking – Pantami

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The Minister of Communications and Digital Economy, Prof. Isa Pantami.
The Minister of Communications and Digital Economy, Prof. Isa Pantami.

The Minister of Communication and Digital Economy, Prof. Isa Pantami has revealed that Nigeria has moved 39 steps higher in the global business ranking within two years. 

Pantami made this disclosure during his closing address at the Digital Nigeria Day (DND) in Abuja themed “Digital transformation: A path to sustainable digital economy”.

“Nigeria was ranked 170 in the global ranking but has moved 39 steps higher, meaning that Nigeria has overtaken 39 other countries from 170 to 131 in ease of doing business.

“The economy of Nigeria is not going back. The economy of the world is led by team talent. Nigeria is doing well when it comes to providing the environment for doing business. Nigeria is still the largest and biggest economy in Africa, [despite] all the challenges we have encountered.

“If you look at the world ranking during business report this year, Nigeria has been ranked 12 among the top 10 most performing countries globally. We have initiated and implemented over 160 reforms when it comes to the ease of doing business,” he said.

Pantami recalled that Nigeria has the Start Up Act 2022, which is one of the major and the most important legislative acts in the country. Also, Nigeria is the first to come up with Nigeria Data Protection Act 2024.

Earlier in his address, the director-general, National Information Technology Development Agency (NITDA), Mallam Kashifu Abdullahi, said government is ready to work and make Nigeria the most vibrant tech ecosystem in the world and not just Africa. He added that Nigeria has what it takes to be a global talent factory.

“The government is a listening government and is ready to work with you to make Nigeria a very vibrant tech ecosystem in the world. Already, we are leading Africa but if we can compete globally why do we need to settle just for Africa? We have what it takes to be the global talent factory. We have you the youths, you are the greatest resource of this country. When we talk about the digital economy or innovation economy, your greatest resources is not in what is laying underneath you but what is in your brain. Nigerian brains are excellent.

“The research talked about how countries develop. Just like Asia, they started with low-end manufacturing then high-end, before moving onto the developed [option]. It didn’t take them more than 40 years to develop. We can’t wait for 40 years to develop a country. The earliest way for us is to develop talents.

“Through innovation, we understand what it takes to make wealth. Innovation is the only way you can lift a nation out of poverty. We have the brain; the political will and government has provided the enabling environment for us.

“What is left is for you to use the opportunity, legal frame work and complement by keying into the digital Nigeria project. You are all critical stakeholders and, with you on board, nothing is impossible for us,” he added.

Oluchi Okorafor
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