Nigeria drops in world economic index

Guardian

11 May 2011

Nigeria drops in world economic index

 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.

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.