1.1 BACKGROUND OF THE STUDY
The federal government led administration of President Mohammadu Buhari on inception of the current administration embarks on several reforms to revive the economy and take it out of distress. Consequently, as part of the change agenda carried several policy change to attract foreign investment and make it easy for people to invest and do business in Nigeria. According to a policy report of the world bank 2019, the Doing Business 2019 document constituted the 16th in the series of annual reports investigating the regulations that enhance business activity and those that constraint it. The report provides quantitative indicators covering 11 areas of the business environment in 190 economies. The goal of the doing business series is to provide objective data for use by governments in designing sound business regularity policies and to encourage research on the important dimensions of the regulatory environment for firms. World Bank group 2019 www.doingbusiness.org. Consequently, several policy Change were instituted which include the following; Nigeria made starting a business easier by reducing the time and protocol required to register a company at the corporate affairs commission and introducing an online platform to pay stamp duty. Deregulating the Electricity sector; Trading across Borders was made easy by reducing the time needed to export and import and implementing joint inspections, dealing with Construction Permits by ensuring increased transparency and publishing all relevant regulations, fee schedules and pre-application requirements online. It is now easier to obtain construction permits. Nigeria also improved the mechanism to access credit information from banks, financial institutions and borrowers and also made it easy to access credit. The study seeks to appraise the avenue to the ease of doing business in Nigeria.
1.2 STATEMENT OF THE PROBLEM
The federal government of Nigeria has embarked on several reforms to ease the way of doing business in Nigeria. However, there are some change policy which has constituted as challenge to the investment climate such as the current tax policy, registration of property etc. Therefore, the study focuses on the appraisal of the avenues to the ease of doing business in Nigeria.
1.3 OBJECTIVES OF THE STUDY
The Main Objective of the study is to appraise the avenues to the ease of doing business in Nigeria. The specific objectives include:
- To investigate the relevance of the business in the Nigeria economy.
- To examine the appropriateness of ease of doing business in the Nigerian economy.
- To understand the factors that facilitate the ease of doing business in Nigeria.
1.4 RESEARCH QUESTIONS
i. What is the relevance of the business in the Nigeria economy?
ii. What is the appropriateness of ease of doing business in the Nigerian economy?
iii. What are the factors that facilitate the ease of doing business in Nigeria?
1.5 STATEMENT OF THE HYPOTHESIS
Ho1: There are no significant factors that facilitate the ease of doing business in Nigeria.
1.6 SIGNIFICANCE OF THE STUDY
The study appraises the avenue to the ease of doing business in Nigeria. It provides relevant data for the effective formulation and implementation of policies to enhance the realization of envisaged objective.
1.7 LIMITATION OF THE STUDY
The study was confronted with logistics and geographical factors.