site stats

Nigeria: Country Ranks 124 On Global Competitiveness Index – World Bank

Photo: cbronline

World Bank, the day gone by, stated Nigeria recorded moderate improvement in World Competitiveness Index rating, GCI, from 127 to 124.

The file additionally attributed Sixteenth place of the bottom 20 economies within the Global Competitiveness Index, GCI, to sub-Saharan African.

the arena Financial Institution Staff Governance Professional and co-author, African Competitive document, Mr. Barak Hoffman, made this identified on the Nigerian Financial Summit Staff and World Financial Institution workshop on Financial competitiveness in Nigeria in Lagos.

According To the record, “Nigeria, as at 2005, used to be ranked Ninety Four; but further dropped to 124 out of the A Hundred And Forty nations within the International Competitiveness Index, GCI, in 2015/2016, between Gambia and Zimbabwe.

“The U . S . A . rose from 127 in 2014/ 2015, as Mauritius is still the area’s best economic system rated 46, whereas Côte d’Ivoire at Ninety One is the most stronger United States in Sub-Saharan Africa, adopted Via Ethiopia ranked 109.”

He listed establishments, policies, and elements of production to resolve the extent of productiveness of a rustic.

He defined that Nigeria performed smartly on market measurement, macroeconomic setting, and labour market effectivity, however had challenges in health, major training, better education, training and infrastructure.

Challenges

He mentioned: “Terrible infrastruc-ture, corruption and get entry to to financing are the most not easy elements for doing trade in Nigeria. Tax charges and complexity, and crime aren’t very challenging, against this.”

Source link

You must be logged in to post a comment Login

Widgetized Section

Go to Admin » appearance » Widgets » and move a widget into Advertise Widget Zone