This document summarizes the findings of a report on conducting business in Nigeria and Madagascar. It discusses the following key points in 3 sentences: The report presents data from the Doing Business indicators on the ease of starting and operating a business across different locations in Nigeria and Madagascar. It finds that it is easiest to do business in Abuja, Nigeria based on factors like cost and time to start a business, register property, build a warehouse, and enforce contracts. The report also identifies best practices from high-performing states in Nigeria that could help improve the overall rankings of Nigeria and other countries if adopted more broadly.

1. Starting a business in Madagascar REPORT LAUNCH REPORT LAUNCH MAY 20, 2008 ABUJA

4. Many countries are reforming fast

6. KADUNA ABUJA (F.C.T) CROSS RIVER ENUGU ANAMBRA ABIA OGUN LAGOS SOKOTO KANO BAUCHI SOKOTO Doing Business in Nigerian states

8. Time to start a business – fastest in Abuja World’s best Africa’s best

9. Cost to start a business – cheapest in Abuja World’s best Africa’s best

10. Time to build a warehouse in Nigerian states Africa’s best World’s best

11. Cost to build a warehouse in Nigerian states World’s best Africa’s best

12. Governor’s consent – bottleneck to registering property World’s best Africa’s best

13. Cost to register property – administrative fees vary World’s best Africa’s best

14. Time to enforce a contract in Nigerian states World’s best Africa’s best

15. Cost to enforce a contract in Nigerian states World’s best Africa’s best

17. Best practices from across Nigeria * In the global Doing Business report, Nigeria is represented by Lagos 32% 457 22.2 82 14 1,016% 350 18 57% 34 9 Nigeria’s performance in Doing Business 2008* 13% 315 9% 38 12 142% 46 12 37% 22 5 Best practice Kaduna Abia Abuja, FCT Kano Abuja, FCT, Bauchi Kaduna Sokoto Bauchi, Kaduna Abuja, FCT Abuja, FCT Abuja, FCT Best performing state Cost to enforce a contract Days to enforce a contract Cost to register property Days to register property Procedures to register property Cost to build a warehouse Days to build a warehouse Procedures to build a warehouse Cost to open a business Days to open a business Procedures to start a business Indicator

19. Business friendly regulation leads to more registered businesses and start-ups Countries ranked by ease of doing business, quintiles Business Density (registered firms per capita) Business Entry (new firms in % of registered firms) Source: Doing Business database Easiest Most difficult Most difficult Easiest

20. … which means more formal employment Informal sector (% del GDP) Unemployment (% labor force) Easiest Most difficult Most difficult Easiest Countries ranked by ease of doing business, quintiles

21. More reforms, higher equity returns 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% -6 -4 -2 0 2 4 6 8 10 12 Number of reforms, 2003-06 3-year shareholder return (%)