From Laolu Akande, New York

EXCEPT Cote d'Ivoire, other African countries defeated Nigeria in global competitiveness report recently released by the World Bank, African Development Bank (AfDB) and World Economic Forum.


Nigeria drops in world economic index

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The country dropped from its previous 96th position to 127 in the current global economic performance, as its economic index was put at 3.4, which was said to be below the average index of 3.5 scored in the sub-Saharan Africa.

The global competitiveness report, which reflected economic performance of countries in the world with special focus on Africa, said Nigeria, however, has the biggest frontier market in Africa, even as they ranked it 30th in global market size.

It said despite Nigeria's potential market size, many other African countries performed better in the overall index scorecard, saying the war-ravaged Libya ranked 100, after recording 3.7 in overall index score.

Besides Libya, Tunisia where there was turmoil that led to the removal of the countries President few months ago, was assigned 4.7 to rank 32 in the list, while Namibia scored 4.1 and ranked 75. Botswana also scored 4.1 and ranked 76, Morocco scored 4.1 and ranked 75, while Rwanda, which scored 4.0 was ranked 80 in the world.

Egypt was also placed ahead of Nigeria, as it scored 4.0, ranking 81, while Tanzania and Zambia scored 3.6 and 3.5 to rank 113 and 115 respectively.

In West Africa, Gambia scored 3.9 and was ranked 90, Republic of Benin scored 3.7 and was ranked 103, Senegal scored 3.7, ranked 104, and Ghana scored 3.6 and was ranked 114. In the subregion, Nigeria however did better than Cote d'Ivoire, which scored 3.3 and was ranked 129.

Also in Africa, Nigeria was rated alongside Ivory Coast, Ghana, and Kenya as the top exporters in agriculture.

Regarding technological readiness, the report described it is an "area where African countries do overall quite poorly as a group."

Sweden led in that category and the highest-ranked African countries in this area were Tunisia, which got 55th ranking and in the top half of the rankings only by Mauritius at 61st.

According to the report, "in fact, 28 of the 35 African countries are in the bottom third, and occupy eighth of the bottom ten places overall. This is a reflection of the very low penetration rates of most information communication technologies (ICT) tools on the continent, related in part to the low prioritisation given by many governments to encourage ICT and other new technology adoption, as well as to low educational attainment."

But as a continent, Africa was commended for its achievements in areas such "as the innovative applications" in banking; agriculture; and, "in general, the rapid adoption of the mobile technology."

The report added: "In fact, several African frontier markets are ahead of major emerging market economies such as India in the usage of mobile phones, demonstrating that in an enabling environment Africa can rapidly adopt modern technology."

It cited the continent as "the fastest-growing market for mobile phones in the world."

Eeya sorry o Nigeria ani ri iru e mo ooo. Pele

Can't say I'm surprised. Corruption in our country has thwarted everything. These other countries that made it to the top are not oil producers, meanwhile, the ones that have it all before the world even began are scraping the plates. God help us,

Nigeria has been given an advantage by God, because we are 8th highest oil producer in the world!

Many countries are now looking for alternatives to oil.

Battery powered cars, and alternative types of fuels are being developed.

It is likely that in the next 15-20years oil would not be in demand, meaning prices would drop very low and it would become less advantageous to be an oil producer.

Whilst we are fooling around tolerating corrupt governments we are allowing our opportunity of being a great nation pass us by - possibly for ever.

Y Won't NIGERIA fall Below Expected,wen Our EXCESS CRUDE RESERVE Moni,has Bin Used 4 Election Campaign,d Moni Dat Would 've Bin Diverted In2 Industrialisation and Other Meaningful Projects.

What is d essence of staying in silence while we rot. what is d essence of democracy and peace that isnt taking us anywhere. let us suffering and smiling oo, one day we wld all wake up from our slumber

not supised at all. with that clown you call a president spending money like  the central bank is his piggy bank. Price of nigerian Democrazy. your idiocy mr president appalls me.

Not surprised. . . Igbo man would never allow this to happen. 

Not good for business o!

EzeUche_:

Not surprised. . . Igbo man would never allow this to happen.

Not good for business o!

Really? Are u sure?

Egypt was also placed ahead of Nigeria, as it scored 4.0, ranking 81, while Tanzania and Zambia scored 3.6 and 3.5 to rank 113 and 115 respectively.

In West Africa, Gambia scored 3.9 and was ranked 90, Republic of Benin scored 3.7 and was ranked 103, Senegal scored 3.7, ranked 104, and Ghana scored 3.6 and was ranked 114. In the subregion, Nigeria however did better than Cote d'Ivoire, which scored 3.3 and was ranked 129.

Mu he he he he he

Weeping for this useless country leaders

Who is responsible for allowing our country to continue to be useless?

Is it not ourselves?

Take the recent elections that were rigged, there is nobody protesting or calling anullment of the rigged elections.

We know that OBJ, IBB and most politicians have looted us dry to the tune of trillions of Naira, yet where is the outrage protests, calls for their immediate arrest?

I have unfortunately come to fully understand the saying that : Nigeria deserves its leaders.

If we do not demand good governance, we shouldn't really complain about our leaders.

Ijogz K:

Weeping for this useless country leaders

God bless Nigeria

GenBuhari:

Who is responsible for allowing our country to continue to be useless?

Is it not ourselves?

Take the recent elections that were rigged, there is nobody protesting or calling anullment of the rigged elections.

We know that OBJ, IBB and most politicians have looted us dry to the tune of trillions of Naira, yet where is the outrage protests, calls for their immediate arrest?

I have unfortunately come to fully understand the saying that : Nigeria deserves its leaders.

If we do not demand good governance, we shouldn't really complain about our leaders.

God bless Nigeria

Gbam. i can not agree less.

9jia is a pity,
but dont worry i do something good 4 u 2 come up again.
In JESUS NAME JUST SAY AMEN, WITH ME. N GOD WILL DO IT 4 US.

, Owing to an incompetent president.

GenBuhari:

Who is responsible for allowing our country to continue to be useless?

Is it not ourselves?

Take the recent elections that were rigged, there is nobody protesting or calling anullment of the rigged elections.

We know that OBJ, IBB and most politicians have looted us dry to the tune of trillions of Naira, yet where is the outrage protests, calls for their immediate arrest?

I have unfortunately come to fully understand the saying that : Nigeria deserves its leaders.

If we do not demand good governance, we shouldn't really complain about our leaders.

God bless Nigeria

you can say it better than this.

Thats not possible! ^{how can a country already on the floor drop?}

prince_onx:

Thats not possible! ^{how can a country already on the floor drop?}

We are talking about nigeria, anything is possible and you aint seen the worse yet

we are finished

GEJ oya get you team and start work now now, The election is over, lets move this country forward. Is Well

abenipa:

Can't say I'm surprised. Corruption in our country has thwarted everything. These other countries that made it to the top are not oil producers, meanwhile, the ones that have it all before the world even began are scraping the plates. God help us,

Dont 4get they use us as an example making sure they dont end up like us.

With news like this,  typical Nigerian commonsense will dicatate that we start blaming and pointing fingers. some will blame GEJ, others will blame rigging, yet another bunch will blame almajiri and CPC, etc etc. Keep blaming away while the nation crumbles.

If we put things right, they wont go the wrong way. Our responsibility should be to do things well. I believe Nigeria will be moving forward against all odd even with woman president. Insolent cynics is and will always be distraction for whoever that rules. Our problem cant vanish overnight, we must be together to put an end to it

There is nothing Nigeria needs more than a sanitisation.
The country needs a leader that will make corruption unattractive. We all saw what happened within a few years of Nuhu Ribadu at EFCC, we saw a dramatic rise in all our ratings.
But then, people deserve the kind of leaders they get.''They voted for GEJ, not PDP'', okay then lets see him appoint martians and not PDP folks into offices.
I weep for the country of my birth.
Poeple really do get what they deserve.

When the economy is run by a bunch of illiterates why am i not surprised? I dont think the finance ministers should be politically appointed anymore.

See what is worrying people here. If they analyse Nigeria properly you will cry.

EzeUche_:

Not surprised. . . Igbo man would never allow this to happen. 

Not good for business o!

Why has the Igbo man not turned the 5 Igbo states into beacons of hope and development like other places such as Dubai, Singapore, etc? If I am not mistaken, the 5 eastern states have Igbo men as governors.

You can be ethnocentric if you want but at least put some thought into your posts before you click reply.

Fhemmmy:

Lol . . . The question is what about Nigeria should make someone happy?

Nice question. Can't answer it.

Useless people~~

Egypt was also placed ahead of Nigeria, as it scored 4.0, ranking 81 really? even in crisis they still better 9ja.