According to the World Banks’ recent investment assessment report, sates that despite reports of corruption, Nigeria remains the most attractive investment destination in Africa.
The report says: “One-third of micro-enterprises reported that informal payments/gifts to government officials were commonplace, suggesting that registered firms confront more requests for such bribes… Only 20 per cent of micro-enterprise firms reported having advance knowledge of the amount of the payment required to ‘get things done’.” Therefore, “Informal payments/gifts represented approximately 1.2 per cent of annual sales for all micro-enterprises.”
26 states within the country were analysed, where it is noted that government contractors have to pay approximately 4.3 per cent of the contract value in order to secure and maintain contracts.
