Lagos – A stock broker, Mr Kaseem Iyonda, on Wednesday urged government’s regulatory agencies to reduce their bureaucracy to improve the ease of doing business in the country.
Iyonda, the Chief Executive Officer (CEO), Pivot Investment Trust, told the News Agency (NAN) in Lagos that reducing some of the challenges of acquiring permits on projects would help to improve the profile of conducting business transactions.
NAN reports that Nigeria has improved its position from 170th to 169th out of 189 countries in the ease of doing business according to the World Bank 2015.
The country also performed better in respect of policy implementation after the report said the country implemented reforms in property and investor protection.
Iyonda said that Nigerians still had a long way to go in the ranking of doing business despite little progress made according to the survey.
He also said that government should invest in key infrastructure that would improve the business atmosphere in the country.
“Improving business environment is sacrosanct, for instance, the Lagos-Ibadan Expressway needed to be completed as soon as possible because it is the busiest road in the country and accommodates a lot of traffic.
“Even other link roads that connect various states needed to be fixed to get our road infrastructure going on,’’ he said.
Iyonda said that government could enable the business profile to become better, by creating stable electricity, through sourcing for other means of energy generation.
“Wind energy, solar and renewable energy can be used to mitigate the shortfall from the conventional ones,’’ he said. (NAN)