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global competitiveness report

Nigeria Drops to 115/140 in 2018 Global Competitiveness Report

The World Economic Forum (WEF) has released the October 2018 edition of the Global Competitiveness report among 140 countries. Nigeria occupies the 115th position out of 140 with the United States topping the list, followed by the Singapore, Germany and New Zealand.

  1. United States 85.6
  2. Singapore      83.5
  3. Germany        82.8
  4. Switzerland    82.6
  5. Japan             82.5
  6. Netherlands   82.4

…..

  1. Canada        79.9
  1. Mauritius      63.7
  2. South Africa 60.8
  3. Nigeria         47.5

  1. Yemen 36.4
  2. Chad 35.5

(WEF, October 2018)

 

The 2018 Global Competitiveness Report focuses on the following areas;

  • Enabling Environment (Institutions, Infrastructure, ICT Adoption, Macroeconomic Stability).
  • Human Capital (Health, Skills)
  • Markets (Product market, Labour market, Financial System, Market size).
  • Innovation Ecosystem (Business Dynamism, Innovation Capability)

Nigeria ranked 112nd out of 135 countries in the 2017 Global Competitiveness Report by the World Economic Forum.

Based on the issue of Security from the report;

“Among the six sub-pillars of the Institutions pillar, global performance is best on Security. Here, the median

score is 72 and half of all countries score 75 or above, with Finland (97.5) coming closest to being free from

terrorism and crime. With equal scores of 33.8, El Salvador and Venezuela are the worst performers, but crime and violence extract a huge economic and human toll across Latin America. The continent’s largest economies—Brazil (45.8), Mexico (46.0) and Colombia (43.5)—are less than halfway to the frontier. Nigeria, Yemen, South Africa, Pakistan and the Philippines are other countries with notable problems related to violence, crime or terrorism, and where the police are considered unreliable. Across all countries, the relationship between the prevalence of organized crime and the perceived reliability of the police is strikingly close.”

Select indicators for Nigeria shows our GDP at 0.88% of the World GDP, unemployment rate at 7 percent, GDP income per capita $1,994.2, gender parity at 0.6 (out of 0-1), etc.

global competitiveness report

 

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