Despite its latest status as Africa’s biggest economy, and its government’s claim of improved standard of living, Nigeria was not only one of the world’s least prosperous countries in 2014, but also one of Africa’s poorest beaten by smaller nations like Niger, Benin, Mali and Cameroun, an annual global prosperity survey released this week has said.
The report, published by UK-based Legatum Institute, a research organization that documents annual prosperity indicators around the world, listed Nigeria as the 125th out of 142 countries surveyed.
Remarkably, Nigeria failed to make the list of Africa’s top 10 most prosperous countries, a league dominated by Botswana and South Africa.
Other countries in that bracket, listed from third and below, are Morocco, Namibia, Tunisia, Algeria, Ghana, Rwanda, Burkina Faso, and Senegal.
Nigeria fell to 27 in Africa in 2014, nose-diving 22 places from its ranking in 2011, the report said.
In between the top 10 countries and Nigeria are Benin, Kenya, Zambia, Zambia, Uganda, Mali, Niger, Cameroon, Egypt, Tanzania, Malawi, Djibouti, Mozambique, Cote d’Ivoire, Congo Republic, Zimbabwe, and Mauritania.
“The 2014 Prosperity Index provides a lens through which to view a comprehensive assessment of national success. The Index measures the broad set of indicators that tell us not only how nations perform economically but in vital areas of education, health, freedom, opportunity, social capital,” said Executive Director of Legatum Institute, Sain Hansen.
Other indicators measured by the institute are, governance and safety and security.
For each of the indices assessed, Nigeria performed woefully, highlighting how life in Nigeria is perhaps among the harshest in the world despite the country’s oil and mineral wealth.
Nigeria’s best ranking was in the economy group, where it was ranked 97th out of 142 countries in the survey.
Elsewhere, Nigeria ranked 114th, 130th, 123th, 132th, 137th, 106th, and 108th in entrepreneurship and opportunity, governance, education, health, safety and security, personal freedom and social capital respectively.
The leading African country, Botswana, ranked 75th globally, and has a Gross Domestic Product (GDP) of $15,147. The country is among the biggest proportional spender in the world as its government spends 8 percent of its GDP on Education.
The least ranked country in the survey is Central African Republic, barely unexpected as the country has be ravaged by internal ethno-religious conflict in the past few years.
Norway is ranked as the most prosperous country in the world followed by Switzerland.
Click to signup for FREE news updates, latest information and hottest gists everydayAdvertise on NigerianEye.com to reach thousands of our daily users
In Nigeria, Abia State is the poorest in governance, in economy and other indices. It is a pity the people of Abia are moaning because of non-payment of salaries, destruction of local govt system, one party system, various other problems caused by the present administration and yet the governor is garnering various awards by blind Nigerian groups.
ReplyDeleteWhoever compiled the report must either be blind or must be from another planet. I have visited Mauritania, Benin Republic and most of the countries being mentioned and even the citizens of those countries would like to come to Nigeria despite all her short-comings.
ReplyDeleteSome of our European Cousins are always all out to discredit Nigeria at the slightest opportunity. What research tools did the study use to compile the reports they are peddling?
While there remains a lot to be done by Nigerian Political Elite and Leaders in general, it is not enough to be putting Nigeria in the same class as Benin Republic - whose economy is being run largely by people who travel from Lagos almost daily...
We Nigerians have to stand up and get our acts together, some of these reports are just utter nonsense!
So sad to hear this. Honestly speaking, This administration is causing serious problem for the masses. Yet we claim to have the best Finance Minister, Agric Minister, and best economic team and others. Yet nothing good is coming out of them. Few years ago, the government increased the price of petroleum products saying that crude oil price in the international market was $100+. Today price of crude is just about half that price yet petrol still sells at N97. What explanation do they have to offer for this laxity and deceit?
ReplyDeleteLet us be frank to ourselves, the analysis has projected is correct to a large extent! In governance, we have problem, in safety and security,a lot of problem, in education, a lot of problem, in health, a lot of problem! All these problem areas must be addressed equitably and adequate corrections made forthwith. We must not kid ourselves because the entire world is watching and analyzing the progress chart of Nigeria. The political trends are not favourable for the desired economic growth of the country. Nigeria, has a nation, has all it takes to grow phenomenally but constrained by nepotism, tribalism, corruption in the highest order and what have you. A nation that anticipates progress must be prepared to be fully committed to the progress of the country. Personal enrichments must be totally eradicated and collective efforts made toward the realization of the planned success of the overall economy.
ReplyDelete