On Tuesday, the World Bank released its annual ease of doing business ranking.

Nigeria moved up 24 places to 145th from 169th that it ranked in 2016.

The ranking is used by the World Bank group to indicate better, usually simpler, regulations for businesses and stronger protection of property rights in the economy of any nation.

Nigeria’s ranking had been poor at best until this year.

The government spearheaded an effort to make doing business easier by introducing ‘Presidential Enabling Business Council’ to introduce new regulations to facilitate the ease of doing business in Nigeria.

So, it was not out of place when Vice President Osinbajo took his excitement to twitter to celebrate Nigeria’s latest ranking.

But some Nigerian twitter users would have none of it.

While some felt the new ranking has no significance on the standard of living in the country, others used the opportunity to lampoon the Buhari administration for their inability to deliver on campaign promises.

“Congratulations sir. When are we going to move up in power supply?” replied Babajide Komolafe to Osinabjo’s tweet announcing the latest ranking.

Another twitter user who simply identified himself as Passionate Nigerian inquired of the VP how the ranking has changed tough operating environment that Nigerian businesses operate in.

He wrote: “Sir, an economy that is being powered by generator, poor road network, crises and instability, scandals, corruption and scams? Tell us more!”

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“Really, world bank must be flattering us because this government that cannot pay workers salary, how can there be ease of doing business? Biko Osibanjo can you stop celebrating mediocrity here on twitter,” Jibed another twitter user, Eko Miami‏.

But Emmanuel Ikhenebome‏ stated that “More still needs to be done for Nigeria to keep moving up, especially and importantly in the power sector. Small businesses need to grow.”

Although Nigeria’s ranking improved significantly to even merit one of the 10 reforming economies in the world ranking, it still lags behind many other smaller economies in Africa.

For instance, countries such as Mauritius, Rwanda, Morocco, Kenya, Botswana, South Africa, and Zambia all surpassed Nigeria as they ranked between 25 and 85.

Other smaller economies that ranked far above Nigeria include: Tunisia at number 88, Seychelles – 95, Lesotho – 104, Namibia – 106, Malawi – 110, Ghana – 120, Uganda – 122, Egypt – 128, Tanzania – 137, Mozambique – 138, Côte d'Ivoire – 139, Senegal – 140, Mali – 143 and Niger Republic at number 144 before Nigeria.

As far as the ranking goes, Nigeria ranks above only countries like The Gambia, Mauritania, Benin Republic, Guinea, Djibouti, Togo, Comoros, Zimbabwe, Sierra Leone, Ethiopia, Madagascar and Cameroon. 

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