Nigeria is the 116 most competitive nation in the world out of 140 countries ranked in the 2018 edition of the Global Competitiveness Report published by the World Economic Forum. source: World Economic Forum

Competitiveness Rank in Nigeria averaged 112.77 from 2007 until 2019, reaching an all time high of 127 in 2011 and a record low of 94 in 2009. This page provides the latest reported value for - Nigeria Competitiveness Rank - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Nigeria Competitiveness Rank - values, historical data and charts - was last updated on December of 2020.

Competitiveness Rank in Nigeria is expected to reach 115.00 by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Nigeria Competitiveness Rank is projected to trend around 115.00 in 2021, according to our econometric models.

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Nigeria Competitiveness Rank

Actual Previous Highest Lowest Dates Unit Frequency
116.00 115.00 127.00 94.00 2007 - 2019 Yearly

Nigeria Business Last Previous Highest Lowest Unit
Business Confidence -1.50 -17.00 41.10 -66.20 points [+]
Industrial Production -10.00 25.10 25.10 -20.40 percent [+]
Manufacturing Production -1.20 -1.90 24.60 -7.00 percent [+]
Internet Speed 3853.93 4129.28 4129.28 348.64 KBps [+]
IP Addresses 209207.00 194830.00 244394.00 29604.00 IP [+]
Services PMI 47.60 46.80 62.30 25.30 points [+]
Leading Economic Index 45.90 45.50 53.00 45.50 percent [+]
Manufacturing PMI 50.20 49.40 61.10 41.10 points [+]
Mining Production -27.20 0.10 48.20 -34.10 percent [+]
Crude Oil Rigs 7.00 10.00 23.00 3.00 [+]
Ease of Doing Business 131.00 146.00 170.00 120.00 [+]
Changes In Inventories 146696.36 78347.13 178909.34 32488.05 NGN Million [+]
Competitiveness Index 48.33 47.53 48.33 3.37 Points [+]
Competitiveness Rank 116.00 115.00 127.00 94.00 [+]
Composite PMI 53.50 52.50 59.10 37.10 points [+]
Capacity Utilization 55.00 54.60 60.50 48.50 percent [+]
Corruption Index 26.00 27.00 28.00 6.90 Points [+]
Corruption Rank 146.00 144.00 152.00 52.00 [+]


Nigeria Competitiveness Rank
The most recent 2018 edition of Global Competitiveness Report assesses 140 economies. In 2018, the World Economic Forum introduced a new methodology emphasizing the role of human capital, innovation, resilience and agility, as not only drivers but also defining features of economic success in the 4th Industrial Revolution. As a result, the GCI scale changed to 1 to 100 from 1 to 7, with higher average score meaning higher degree of competitiveness. The report is made up of 98 variables organized into twelve pillars with the most important including: institutions; infrastructure; ICT adoption; macroeconomic stability; health; skills; product market; labour market; financial system; market size; business dynamism; and innovation capability.