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

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 Wednesday, October 17, 2018 5.20PM / WEF 


The World Economic Forum in its 2018 Global Competitiveness Index, ranked Nigeria 115 out of 140 countries. This means it moved three places downward from  its 2017/2018 ranking of 112 out of 135 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

3. 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 


 Areas that Nigeria will require rapid improvement include the following eight (8) pillars;

1. Institutions

2. ICT Adoption

3.Macroeconomic environment

4.Skill

5.Product Market

6.Labour Market

7.Financial System

8.Market Size 


Proshare Nigeria Pvt. Ltd.

Source: WEF

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.


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