Presidential candidate of the Allied Congress Party of Nigeria (ACPN), Oby Ezekwesili, has said the country needs to do better in global competitiveness ranking.
A recently released global competitiveness report ranked Nigeria 115 out of 140 profiled countries. Reacting to the former minister of Education said Nigeria needs to do more in terms of making its socio-economic environment more globally competitive. The former VP of world bank also stressed that a move from its previous position of 125 was a positive development.
“Moving 10 places on the Index is positive news for the country, but I must say that Nigeria has no business being in the lower rungs of the ladder as regards global competitiveness. With the right policies, resources at our disposal, and especially commitment from government, we can take a giant leap up the index and create a better life for majority of our citizens.”
“We will move higher on the index if the macroeconomic outlook, critical non-oil sectors, and institutions are strengthened so as to bring about the desired competitive advantage the country inherently possesses.
“Our macroeconomic outlook is currently in a crisis with multiple exchange rate regimes, fixed interest rate and cyclical inflation rate over the years – that has all had negative effects on the financial market and led to little or no investor confidence.”