The World Bank’s latest Ease of Doing Business 2018 rankings show Nigeria has climbed 24 places to 145 in the annual business climate review as a result of reforms driven by the government, making it one of the 10 most improved economies in the world. Quartz Africa analyses the situation on the ground.
The Guardian (Nigeria) —
A flurry of mixed messages were heard as Nigeria celebrated its 57th independence anniversary on 1 October. While some said celebrations were in order, in view of achievements recorded, others focused on the litany of opportunities the country has squandered over the years.
Effective from 1st April 2017, the Standard Organization of Nigeria (SON) & Central Bank of Nigeria (CBN) have implemented a revised SONCAP Certification process for few product types categorized as “life endangering products”.
Ventures Africa magazine —
On Wednesday, 14th December 2017, the president of Nigeria, Muhammadu Buhari presented a 7.298 trillion naira 2017 budget proposal to the joint session of the National Assembly. This comes after so much delay and the budget, which is said to be the budget of recovery and growth, is 20.4 percent higher than the 2016 budget.
The outbreak of xenophobic violence in South Africa and the reprisal events in Nigeria, including direct attacks on foreign-owned businesses in both South Africa and Nigeria, poses a threat to Africa’s fragile economic recovery.
This is according to the South Africa-Nigeria Chamber of Commerce (SA-NCC), a body that represents South African and Nigerian companies doing business or exploring commercial opportunities in the two countries. Established in 2005, its 100-plus members include companies from both countries, including Nigerian companies based in South Africa.
By Foluso Phillips, President, Nigeria-South Africa Chamber of Commerce, Lagos
The current situation that is metamorphosing between Nigeria and South Africa is extremely disappointing and is a failure of leadership on both sides of the equator.
An inability of both countries to work together will be a great loss to Africa and even greater loss to the very people who are being naïve in their senseless and ignorant attacks on people who should be their neighbours in the community.