Nigeria tops Africa in growth but ranks 68th overall
Nigeria leads Africa in economic growth but ranks 68th globally due to failing infrastructure, weak institutions, and poor governance.
Nigeria ranks first in Africa for economic performance, according to the IMD World Competitiveness Ranking 2026. It scored 45.2 points on that pillar, beating South Africa (36.27), Ghana (34.6), Kenya (33.19), Namibia (22.3) and Botswana (18.25). The gap between Nigeria and Botswana, 26.95 points, is wider than the entire score of most African peers.
Yet here is the catch: Nigeria slipped one place in overall competitiveness, landing 68th out of 70 economies. The country is a top performer on paper and a bottom dweller in practice.
The IMD evaluated 70 economies across four pillars: economic performance, government efficiency, business efficiency and infrastructure. Nigeria’s economic performance ranking, 55th globally, is respectable. But the rest tells a familiar story.
Government efficiency dropped from 50th to 53rd. Business efficiency fell from 59th to 63rd. Infrastructure? Dead last. 70th globally, down from 68th the previous year.
The sub-indicators are worse. Nigeria ranked 64th in international trade, 64th in international investment, 64th in employment, 61st in prices. The country’s institutional framework ranked 69th. Its societal framework ranked 69th. Finance ranked 70th.
Business executives identified the real problems. Borrowing costs topped the list; 67.6% of respondents cited it. Exchange rate volatility followed at 67.3%. Inflation at 61.2%. Insecurity, insurgency, banditry, unreliable electricity and transport bottlenecks were also named as major obstacles.
This is the paradox of Nigeria’s economy. It can outperform its peers on growth metrics while failing them on almost everything that makes growth sustainable. The IMD ranking is a trophy. The 68th-place finish is the diagnosis.
Bottom Line: Nigeria’s economy is growing faster than its neighbours’ and collapsing the infrastructure and institutions needed to keep it that way.