Nigeria has been ranked as the best-performing African economy in the 2026 World Competitiveness Ranking released by the International Institute for Management Development (IMD)
The report assessed 70 economies around the world using four key areas: economic performance, government efficiency, business efficiency, and infrastructure
Nigeria scored 45.2 points in the economic performance category, placing 55th globally and ahead of the five other African countries included in the ranking
Economic performance looks at how well a country’s economy is doing. It considers factors such as local business activity, trade with other countries, foreign investments, employment levels, and changes in the prices of goods and services
Among African countries, South Africa came second with 36.27 points, followed by Ghana (34.6), Kenya (33.19), Namibia (22.3), and Botswana (18.25)
Nigeria finished nearly 27 points ahead of Botswana, the lowest-ranked African country in the category
Nigeria Still Struggles in Overall Competitiveness
Despite leading Africa in economic performance, Nigeria slipped in the overall global competitiveness ranking. The country dropped one place to 68th out of 70 economies, with an overall score of 38.8, compared to 67th position in 2025
The IMD said the decline was mainly due to weaknesses in infrastructure, government performance, and the business environment
Infrastructure, which includes roads, electricity, transport systems, communication networks, and other basic facilities needed for businesses and daily life, remained Nigeria’s weakest area
The country ranked 70th, the lowest position globally, after falling from 68th in the previous year
Government efficiency also declined, with Nigeria moving from 50th to 53rd, while business efficiency dropped from 59th to 63rd
Business efficiency measures how supportive the environment is for companies to grow and operate successfully
The report also showed some positive results. Nigeria ranked 16th in public finance, which measures how well government finances are managed, and 15th in tax policy, indicating relatively strong tax-related policies
However, the country performed poorly in areas linked to governance and institutions. It ranked 69th in both institutional framework and societal framework, suggesting ongoing challenges with public institutions, regulations, and the broader social environment
Within business efficiency, Nigeria ranked 22nd in the labour market, reflecting the availability of workers, but came 70th in finance, highlighting continued difficulties for businesses in accessing affordable funding
UPDATE NEWS:
Nigerians can now invest ₦2.5 million on premium domains and profit about ₦17-₦25 million. All earnings paid in US Dollars. Rather than wonder,
click here to find out how it works
Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You