The Global Competitiveness Index recently released the list of the World’s most competitive economies. The World Economic Forum defines competitiveness as “the set of institutions, policies, and factors that determine the level of productivity of a country”.
Nigeria was ranked outside the top 10 most competitive economies in the Sub-Saharan Africa region with a global ranking of 127 out of 138 countries measured.
Factors such as the Central Bank’s policies as well as rising inflation ensured Nigerian fell down the ranks. Mauritius is ranked as the most competitive Sub-Saharan economy with a global rank of 45 while South Africa and Rwanda round up the top three.
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