BUSINESS

2018 WEF Global Competitiveness Report Ranks Nigeria 115 Out Of 140 Countries

The World Economic Forum in its 2018 Global Competitiveness Index, ranked Nigeria 115 out of 140 countries. This means it moved ten places upward from its 2017/2018 ranking of 125 out of 137 countries.

According to the new ranking, Nigeria improved in four(4)  of  twelve (12) ranking pillars, namely;

1.Infrastructure

2.Health

3.Business Dynamism

4.Innovation Capability

The current GCI ranking template has the following twelve (12) as pillars for assessment;

  1. Institutions
  2. ICT Adoption

4.Macroeconomic environment

6.Skill

7.Product .Market

8.Labour Market

9.Financial System

10.Market Size

11.Business Dynamism

12.Innovation capability

Nigeria was ranked 127 out of 138 countries in the 2016/2017 edition report and 124 out of 140 in the 2015/2016 GCI ranking.

 Areas that Nigeria will require improvement in the 2018 GCI competitiveness report, include;

  1. Institutions
  2. ICT Adoption

3.Macroeconomic environment

4.Skill

5.Product Market

6.Labour Market

7.Financial System

8.Market Size

Featuring the Global Competitiveness Index, the Report assesses the competitiveness landscape of 140 economies, providing unique insight into the drivers of their productivity and prosperity. Discover the 2018 edition’s rankings, key findings, your economy’s scorecard, and much more.

The 2018 edition of the Global Competitiveness Report represents a milestone in the four-decade history of the series, with the introduction of the new Global Competitiveness Index 4.0. The new index sheds light on an emerging set of drivers of productivity and long-term growth in the era of the Fourth Industrial Revolution. It provides a much-needed compass for policy-makers and other stakeholders to help shape economic strategies and monitor progress.

Previous ArticleNext Article

Share Your Comment With Others

This site uses Akismet to reduce spam. Learn how your comment data is processed.