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Nigeria not Good for Business – World Bank

The World Bank Group’s Doing Business Report 2016, has delivered a damning report which would further scare away investors from Nigeria. It said that Nigeria is no longer a good business environment.
Comparatively, the 2015 report saw Nigeria ranking 170 point of 189 in the world, with a Distance To Frontier (DTF) or Ease of Doing Business Score of 47.33, against Singapore’s 88.27 and Eritrea’s 33.16.
However, in the 2016 version of the report, Nigeria climbed one rung of the ladder to the 169 position, but sheds almost 3 percentage points to clock at 44.69.
Highlighted in the report as Nigeria’s Achilles heel in doing business are the unusually long number of steps it takes to register a business, the difficulty of building a warehouse, poor access to electricity and the administrative burden of complying with tax payments, among other lacunas.
According to data collected by Doing Business, starting a business in Nigeria requires 8.70 procedures, takes 30.80 days, costs 31.70 percent of income per capita and requires paid-in minimum capital of 0.00 percent of income per capita.
Globally, Nigeria stands at 139 in the ranking of 189 economies on the ease of starting a business.
Underlying the indicators for Nigeria, according to the report, is a set of specific procedures—the bureaucratic and legal steps that an entrepreneur must complete to incorporate and register a new firm.
According to data collected by Doing Business, dealing with construction permits requires 16.10 procedures, takes 106.30 days and costs 24.40 percent of the warehouse value.
Obtaining a new electricity connection in Nigeria requires 9.00 procedures, takes 181.20 days and costs 437.70 percent of income per capita.
Globally, Nigeria stands at 182 in the ranking of 189 economies on the ease of getting electricity.
The length of time it takes to transfer property is another setback for the country. According to data collected by Doing Business, registering property requires 12.10 procedures, takes 69.60 days and costs 10.50% of the property value.
Globally, Nigeria stands at 181 in the ranking of 189 economies on the ease of registering property.
The economy has a score of 6.00 on the depth of credit information index and a score of 6.00 on the strength of legal rights index. Higher scores indicate more credit information and stronger legal rights for borrowers and lenders.
Globally, Nigeria stands at 59 in the ranking of 189 economies on the ease of getting credit.
The economy has a score of 6.80 on the strength of minority investor protection index, with a higher score indicating stronger protections.
Globally, Nigeria stands at 20 in the ranking of 189 economies on the strength of minority investor.
The report observes that the administrative burden in paying taxes by companies leaves much to be desired.
On average, firms make 59.00 tax payments a year, spend 907.90 hours a year filing, preparing and paying taxes and pay total taxes amounting to 33.30 percent.
Globally, Nigeria stands at 181 in the ranking of 189 economies on the ease of paying taxes. The rankings for comparator economies and the regional average ranking provide other useful information for assessing the tax compliance burden for businesses in Nigeria.
Globally, Singapore keeps her place in the easiest country to do business in, with a DTF of 87.34, while Eritrea remained at the bottom of the ladder, plunging further to 27.61 from 33.16 in 2015.
The report, which chronicled enviable progress made since 1999 and the last few years of booming economy, categorically stated that doing business in Nigeria is far difficult than in 2015.
Nigeria has seen her stock plummet with a consistent fall in oil prices at the international market. Added to this grim environment has been lack of budget for almost a month fueling anxiety on the direction of the country.
Rwanda remained the best destination for business in Africa, invigorating new drives in the country long beset by political and ethnic violence. The two countries are 32 and 62 in Africa, respectively.
Nigeria’s West African neighbour Ghana came top in ECOWAS category clocking 114 of 189 countries. Ghana has innovative economic policies augmented by strong building of civil service, judiciary and curbing corruption, factors inhibiting Nigeria’s growth.
According to the World Bank, “Where informal construction is rampant, the public can suffer. Take the case of Nigeria, which lacks an approved building code setting the standards for construction,” slaying into authority’s lack of policy direction.
“Without clear rules, enforcing even basic standards is a daunting task, and many buildings fail to comply with proper safety standards. Structural incidents have multiplied.
“According to the Nigerian Institute of Building, 84 buildings collapsed in the past 20 years, killing more than 400 people,” the report pointed out.
Core to any nation’s stability and growth, the report decried the worsening power generation in the country pointing out that the “industry is a core sector for the generation of national wealth and employment in Nigeria, but faced with an electricity sector hampered by poorly utilized generation capacity, high transmission losses and frequent outages, companies turn to self-provision of electricity.”
Thus, “This raises their production costs, reducing their competitiveness and thus their demand for labour. The erratic and inadequate power supply in Nigeria has often been cited as the main reason forcing multinationals to relocate production lines to other countries. Power outages also affect output levels.”
On reforms, it said, “Nigeria made transferring property in Lagos less costly by reducing fees for property transactions.
“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.”
News
Firm Shares Tips for Updating Your Digital Habits for an AI-driven World

As smart devices with artificial intelligence (AI) tools, and always-on services become part of everyday life, the cybersecurity habits many people formed a few years ago may no longer be enough.

From AI-powered scams to social media trends that encourage users to upload personal details, the way people interact online is changing quickly. Ensuring that you stay secure now requires small, deliberate actions in your daily digital behaviour. Experts from Kaspersky, a global cybersecurity and digital privacy company, share the below advice to stay safe online.
- Be cautious with verification requests. Many scams now mimic legitimate verification processes, asking users to confirm accounts, update payment details, or approve login attempts. Because people are used to frequent security prompts, it is easy to respond automatically. Pause before sharing verification codes or personal information and independently verify requests through official websites or by contacting service providers directly.
- Cultivate healthy AI usage habits. AI agents, chatbots and multimedia-generating apps can be convenient and entertaining, but uploading high-resolution photos or personal information carries privacy implications. Facial images can function as biometric identifiers, and once shared with an online service, be it AI or a social network, control over how that data is stored or reused may be limited. Before using AI tools, review privacy policies, minimise the personal information they provide, and avoid uploading sensitive documents or confidential content.
- Do your homework on AI. For parents, the rise of AI assistants introduces another dimension. While AI tools can help in making education interactive and gamified, children may turn to AI tools for homework support or entertainment without fully understanding how their data is used or how to evaluate responses critically.
Open conversations about responsible AI use, privacy awareness, and the importance of not oversharing personal information can help children build safe digital habits from an early age.
- Audit your online subscriptions. Reducing digital exposure is another simple but often overlooked step. Over time, unused subscriptions, dormant accounts, and forgotten apps accumulate personal data and payment details. Regularly reviewing subscriptions, deleting unused accounts, and checking which apps have access to personal information can significantly reduce risks of this data being leaked.
- Secure your devices and home. Device longevity and smart home security also play an important role. Older devices that no longer receive security updates may contain unpatched vulnerabilities.
Ensure that smartphones, laptops, routers, and smart home devices are running the latest firmware and are protected with strong passwords and multi-factor authentication. Changing default passwords on connected devices and securing home Wi-Fi networks are essential steps in protecting both personal data and physical spaces.
As technology and AI becomes more integrated into daily life, security is less about dramatic measures and more about consistent, informed habits.
“Technology evolves quickly, and our online behaviour should keep pace,” says Brandon Muller, Technical Expert for the Middle East and Africa region at Kaspersky. “Take time to review privacy settings, app permissions, and connected third-party services, removing anything that is no longer needed. By being more deliberate about what we share, how we verify requests, and how we manage our devices, we can significantly reduce exposure to modern cyber risks while enjoying all the benefits of new technologies.”
News
EU Pumps €290m into Nigeria’s Digital, Health, Agri Sectors

European Union has unveiled a €290 million investment package for Nigeria, targeting key sectors including digital infrastructure, healthcare manufacturing, agriculture, and migration management.

The announcement was made during the eighth Nigeria–EU ministerial dialogue in Abuja, co-chaired by Yusuf Tuggar and Kaja Kallas. European officials said the funding, part of the EU’s Global Gateway strategy, is designed to strengthen Nigeria’s economy and deepen bilateral cooperation.
The digital sector received the largest allocation, with €131 million set aside to expand connectivity and improve digital services. The initiative aims to deploy about 90,000 kilometres of fibre-optic cable, providing internet access to roughly 33 million Nigerians.g
The programme will also support digital public infrastructure and develop Nigeria’s tech talent pipeline. In the healthcare sector, the European Investment Bank and the Bank of Industry Nigeria signed a €50 million financing agreement to boost local manufacturing of pharmaceuticals, vaccines, diagnostics, and medical devices.
Managing Director of BoI, Olasupo Olusi, described the deal as transformative, saying: “This partnership marks a pivotal step in Nigeria’s journey from being a major importer… to becoming a competitive producer.” EIB Vice-President Ambroise Fayolle added: “We support national health security while improving the resilience of supply chains.”
Another €85 million agreement will support agricultural value chains, particularly cocoa and dairy production, with funding aimed at improving productivity and supporting smallholder farmers and agribusinesses.
EU Commissioner Jozef Sikela said the investment would help Nigeria reduce reliance on imports and scale local production capacity.
The package also includes €16 million for migration management, focusing on reintegration of returnees and efforts to combat human trafficking. Kallas emphasised the broader significance of the partnership, stating: “In the current geopolitical context, the European Union is keen to enhance its partnership with Nigeria.”
Officials noted the investments align with continental goals such as the African Union target of producing 60 percent of vaccines locally by 2040, and the African Continental Free Trade Area framework for regional trade.
The EIB also revealed it has invested over €2.3 billion in Nigeria since 1978, supporting infrastructure, climate resilience, innovation, and small business development.
News
Kaspersky, AFRIPOL Conduct Joint Cybersecurity Training for African law Enforcement

As part of a joint initiative with AFRIPOL, Kaspersky provided cybersecurity training courses for law enforcement representatives from 23 African countries, unfolding the fundamentals of Security Operations Center (SOC) activities and advanced threat hunting techniques.

As cyberthreats continue to grow in scale and complexity, strengthening the technical capabilities of law enforcement agencies has become an important priority worldwide. Through knowledge-sharing programmes, technology companies can contribute practical expertise gained from real-world cyber investigations and threat analysis.
Such collaboration helps equip law enforcement professionals with the skills and tools needed to investigate digital crimes more effectively and strengthen cybersecurity capabilities.
From November 2025 to March 2026, around 40 African officers from 23 countries* received “Security Operations and Threat Hunting” training, provided as part of the cooperation agreement between Kaspersky and AFRIPOL signed in 2024. During the training, African officers gained practical knowledge of Security Operations Center (SOC) activities and modern cyber-defence practices.
The programme covered key aspects of threat detection and incident investigation, including how to identify malicious activity in Windows and Linux environments, analyse attacker tactics, techniques and procedures (TTPs) and use threat intelligence to uncover advanced threats.
As part of the training, a series of online Q&A sessions were organised, providing participants with the opportunity to engage directly with experts and course authors from Kaspersky’s Security Services team. These sessions allowed attendees to clarify complex topics, discuss practical cases and receive additional insights, reinforcing the learning experience and ensuring a deeper understanding of key cybersecurity concepts.
“Cybercrime today is highly sophisticated, borderless and constantly evolving, which means no single organisation can tackle it alone. This is why cooperation and knowledge sharing between the private cybersecurity sector and law enforcement agencies are so critical. Our long-standing collaboration with AFRIPOL demonstrates the value of this approach.
“Over the years, Kaspersky and AFRIPOL have worked together to better understand the cyberthreat landscape across Africa and to support international efforts aimed at disrupting cybercrime. By continuing to invest in training and capacity building, we aim to support law enforcement professionals with the expertise they need to investigate digital crimes effectively and contribute to building a safer and more trusted digital environment for everyone,” says Yuliya Shlychkova, Vice President, Public Affairs, at Kaspersky.
“Strengthening the capabilities of law enforcement agencies is essential to effectively address the growing complexity of cybercrime across the African continent. Initiatives such as this training programme play an important role in equipping officers with the practical skills needed to investigate cyber incidents, analyse digital evidence and respond to emerging threats.
“Cooperation with partners from the private cybersecurity sector, such as Kaspersky, helps law enforcement agencies stay informed about the latest threat trends and investigative approaches.
“We highly value this collaboration and the opportunity it creates to further develop the cybercrime response capabilities of AFRIPOL member countries,” says Dr Mohammed Benaired, Head, Training and Capacity Building Division at AFRIPOL.
In 2024, to further enhance global efforts to combat cyber offenses, Kaspersky and AFRIPOL signed a cooperation agreement in preventing and fighting cybercrime.
Covering a period of five years, the document formalises and facilitates cooperation between the company and the law enforcement agency in sharing threat intelligence data on the latest cybercriminal activities and entails the provision of assistance and know-how in information security analysis.
Kaspersky Expert Training is used by numerous organisations and academic institutions to advance their skills in battling against cybercrime. Since the inception of this online training programme, Kaspersky experts have trained more than 3,000 specialists from 50 countries around the world.
Providing their expertise with 12 educational courses, they share their insights on advanced tactics and strategies in Reverse Engineering, Threat Hunting, Incident Response and more – each divided by the level of students’ experience.
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