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Nigeria Moves 125th Among World's Competitive Economies

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Nigeria has moved two steps upward among the competitive economies in the world, according to the latest ranking by the World Economic Forum, WEF.
Nigeria is now 125th out of the 137 economies that the ranking covers; it occupied the 127th position in last year’s ranking.
This is the first time the country’s ranking has gone up since 2012, according to the WEF’s Global Competitiveness Report released on Tuesday.
The report, however, stated that the country’s macroeconomic conditions worsened, having gone 12 step-downward to 122nd position.
Inflation in Nigeria, according to the report, is high at 15.7 percent. On this, the country is ranked 131st.
The report put Nigeria’s budget deficit at 4.4 percent and ranked the country 99th in this regards.
“Institutions (in Nigeria) appear more fragile (125th, down seven), adding uncertainty to the business environment,” the…
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