The Nigerian Investment Promotion Commission (NIPC) is set to formally launch the iGuide Nigeria — an online guide to doing business in Nigeria.
The purpose of the portal which was put together with the support of United Nations Economic Commission for Africa (UNECA) and United Nations
Conference on Trade and Development (UNCTAD).
is to provide investors with up-to-date and pertinent information about the processes, procedures as well as the basic cost of doing business in the country.
Hopefully, this will help Nigeria’s ease of doing business ranking, which according to 2018 Doing Business ranking of the World Bank, currently on the 145th spot globally (PDF), better than the 2015 ranking at 169. However, Nigeria is still behind 16 other African countries with Rwanda leading the continent at 41st position on the global ranking.
The portal which is currently running would be formally launched by the Minister of Industry, Trade & Investment, Okechukwu Enelamah in Abuja tomorrow, May 17, 2018.
Last year, the Vice President Yemi Osinbajo signed three executive orders, one of which is ‘the promotion of transparency and efficiency in the business environment’, which is meant to facilitate the ease of doing business in Nigeria.
The iGuide Nigeria is definitely riding on that executive order as it is expected to enable investors to make informed decisions as it has information about every aspect of starting and running a business in Nigeria.
The cost of some utility services is listed on the portal. And every state of the nation has an individual socio-economic profile with the appropriate contact information for investors.
Nigerian startups raised $17.6m in Q1 2019, 8.5% higher than they did in Q1 2018. Find out more in the latest quarterly edition of the Nigerian Startup Funding Report here.