Nigeria has been ranked as the highest-performing economy among top African countries included in the International Institute for Management Development (IMD) world competitiveness ranking 2026.
The IMD ranking, which covered 70 countries, evaluates
economies across four broad pillars: economic performance, government
efficiency, business efficiency, and infrastructure.
The economic performance pillar assesses factors such as
domestic economic activity, international trade and investment, employment, and
prices.
Analysis of the IMD data indicated that Nigeria achieved a
score of 45.2 points, ranking 55th worldwide.
This puts Nigeria ahead of five other African countries that
were assessed based on their economic performance.
According to the IMD, South Africa achieved the
second-highest ranking in the Africa group, with a score of 36.27, placing 64th
worldwide, while Ghana secured the third position with 34.6 points and a global
ranking of 65th.
Kenya secured the fourth position on the continent with a
score of 33.19, ranking 66th overall, while Namibia followed with a score of
22.3, placing 68th.
Botswana also achieved a score of 18.25, securing the 69th
position.
The assessment revealed a 26.95-point disparity between
Nigeria, which holds the highest economic ranking among its African peers, and
Botswana, the lowest-ranked African nation, according to the IMD report.
The ranking comes amid efforts by the federal government to
stabilise the economy through the implementation of reforms across critical
sectors.
NIGERIA DROPS TO 68th IN 2026 IMD GLOBAL COMPETITIVENESS
RANKING
However, further analysis of the IMD data showed that
Nigeria ranked 68th out of 70 economies in the 2026 IMD world competitiveness
ranking, slipping one place from its position in 2025.
According to the report, Nigeria recorded an overall
competitiveness score of 38.8.
The country also ranked 53rd in government efficiency, down
from 50th in 2025, while its business efficiency ranking fell to 63rd from
59th.
Nigeria’s infrastructure ranking also has declined, now
standing at 70th out of 70 economies surveyed, a decrease from its 68th
position in the previous year.
On economic performance, Nigeria ranked 51st in the domestic
economy, 64th in international trade, 64th in international investment, 61st in
prices, and 64th in employment.
Within the government efficiency pillar, the country ranked
16th in public finance and 15th in tax policy.
However, it placed 69th in institutional framework, 58th in
business legislation, and 69th in societal framework.
Under business efficiency, Nigeria ranked 65th in
productivity and efficiency, 22nd in labour market, 70th in finance, 62nd in
management practices, and 58th in attitudes and values.
The infrastructure pillar showed Nigeria ranked 69th in
basic infrastructure, 68th in technological infrastructure, 63rd in scientific
infrastructure, and 70th in both health and environment and education.
The report also highlighted the key concerns of business
executives operating in Nigeria.
Borrowing costs topped the list at 67.6 percent, followed by
exchange rate volatility (67.3 percent), inflation (61.2 percent), global
uncertainty (48 percent), supply chain disruptions (33 percent), and labour
constraints (32 percent).
The IMD cited data from Nigeria’s National Productivity
Centre, which identified insecurity, insurgency and banditry, particularly in
the country’s agricultural belt, as major constraints to competitiveness.
The report also pointed to infrastructure deficits,
including unreliable electricity supply and transport bottlenecks, as factors
raising the cost of doing business.
According to IMD, macroeconomic instability, high inflation,
weak public institutions, corruption, and low human capital development
continue to weigh on the country’s competitiveness.
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