Nigeria Ranks 127 in WEF 2016-2017 Global Competitiveness Report

Mauritius remains Africa’s most competitive nation (45th worldwide), World Economic Forum (WEF) said in the 2016-2017 global competitiveness report it released on Sept 28, in Geneva.

In Africa, the island is followed by South Africa (47^th in the world), Rwanda (52^nd), Botswana (64^th), Morocco (70^th), Namibia (84^th) and Algeria (87^th). Tunisia (95^th), Kenya (96th), Cote d’Ivoire (99th) come next in the Top 10 of most competitive African nations.

Progress over the continent in terms of competitiveness is mixed compared to the 2015-2016 ranking. While some nations such as Rwanda, Sierra Leone and Ghana jumped 6, 5 and 5 places respectively, others like Zambia, Lesotho, and Nigeria fell respectively 22, 7 and 3 places in the global 2016-2017 ranking. Zambia thus moved from being 96^th worldwide in 2015-2016 to 118^th in 2016-2017.

WEF’s report provides a global ranking of most competitive nations by using a hundred economic indices including infrastructures, macroeconomic environment, market size, development of technology and information.

Worldwide, the top three nations of 2015-2016 namely Switzerland, Singapore and the United States kept their places. Next come Netherlands, Germany, Sweden, the United Kingdom, Japan, Hong Kong and Finland.

Among emerging economies, China remains at the top and is at the 28th position worldwide while India impresses greatly soaring 16 ranks, to the 39th position.

The WEF’s ranking for Africa’s most competitive economies in 2016-2017:

1-Mauritius (45th)

2-South Africa (47th)

3-Rwanda (52nd)

4-Botswana (64th)

5-Moroccoa (70th)

6- Namibia (84th)

7-Algeria (87th)

8-Tunisia (95th)

9-Kenya (96th)

10-Cote d’Ivoire (99th)

11-Gabon (108th)

12-Ethiopia (109th)

13-Cape Verde (110th)

14-Senegal (112th)

15-Uganda (113th)

16-Ghana (114th)

17-Egypt (115th)

18-Tanzania (116th)

19-Zambia (118th)

20-Cameroon (119th)

21-Lesotho (120th)

22-Gambia (123rd)

23-Benin (124th)

24-Mali (125th)

25-Zimbabwe (126th)

26-Nigeria (127th)

27-Madagascar (128th)

28-DR Congo (129th)

29-Liberia (131st)

30-Sierra Leone (132nd)

31-Mozambique (133th)

32-Malawi (134th)

33-Burundi (135th)

34-Chad (136th)

35-Mauritania (137th)