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Business Reforms in Nigeria

= Doing Business reform making it easier to do business. Negative =  Change making it more difficult to do business.

DB2018

Starting a Business: Nigeria made starting a business faster by allowing electronic stamping of registration documents. This reform applies to both Kano and Lagos.

Dealing with Construction Permits: Nigeria (Kano) increased transparency by publishing all relevant regulations, fee schedules and pre-application requirements online. Nigeria (Lagos) made is easier to obtain construction permits by streamlining the process to obtain construction permits and increased transparency by publishing all relevant regulations, fee schedules and pre-application requirements online.

Registering Property: Nigeria, Lagos made transferring property easier and more transparent by removing the sworn affidavit for certified copies of the land ownership records, introducing a specific and independent complaint mechanism, and by publishing statistics on land transfers. Nigeria, Kano made transferring property more transparent by publishing the list documents, fee schedule and service standards for property transactions.

Getting Credit: Nigeria improved access to credit information by guaranteeing borrowers the legal right to inspect their credit data from the credit bureau and by starting to provide credit scores to banks, financial institutions and borrowers. Nigeria also strengthened access to credit by adopting a new law on secured transactions and establishing a modern collateral registry. These changes apply to both Kano and Lagos.

Paying Taxes: Nigeria made paying taxes easier by introducing new channels for payment of taxes and mandating taxpayers to file tax returns at the nearest "Federal Inland Revenue Service (FIRS)" office. This reform applies to both Kano and Lagos.

DB2017

Starting a Business: Nigeria made starting a business easier by improving online government portals . This reform applies to both Kano and Lagos.

Getting Credit: Nigeria strengthened access to credit by creating a centralized collateral registry. This reform applies to both Kano and Lagos.

DB2016

Registering Property: Nigeria made transferring property in Lagos less costly by reducing fees for property transactions.

Protecting Minority Investors: Nigeria strengthened minority investor protections by requiring that related-party transactions be subject to external review and to approval by disinterested shareholders. This reform applies to both Kano and Lagos.

DB2013

Getting Credit: Nigeria improved access to credit information by distributing credit information from retail companies.

Paying Taxes: Nigeria introduced a new compulsory labor contribution paid by the employer.

DB2010

Getting Credit: Nigeria improved its credit information system through a central bank guideline defining the licensing, operational and regulatory requirements for a privately owned credit bureau.

DB2009

Trading across Borders: Nigeria speeded up exporting and importing by upgrading facilities at Apapa port in Lagos.

DB2008

Starting a Business: Nigeria made starting a business easier by introducing an online system for company name search and increasing efficiency at the company registry.

Dealing with Construction Permits: Nigeria made dealing with construction permits easier by setting an official time limit for issuing permits