Nigeria ranked 110th among the best countries in the world for business in 2019 out of 161 countries. South Africa, according to the list published by Forbes, came first in Africa.
At the top of the list are the United Kingdom (1), Sweden (2), Hong Kong (3), the Netherlands (4), New Zealand (5) and Canada (6). The United States of America ranks 17th, behind Ireland and Finland.
With a population of 203 million, a 0.8% growth in gross domestic product and a per capita GDP of $ 2,000, Nigeria ranks 14th in Africa.
The score places Nigeria behind South Africa (59), Morocco (62), Seychelles (66), Tunisia (82), Botswana (83), Rwanda (90), Kenya (93) , Ghana (94), Egypt (95). , Namibia (96), Senegal (100), Zambia (103) and Cape Verde (104).
Giving the criteria for the rating, Forbes said, “We gauged the best countries for business by rating nations on 15 different factors, including property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape and investor protection. Other metrics included were workforce, infrastructure, market size, quality of life and risk. Each category was equally weighted.
“The data is based on published reports from Freedom House, Heritage Foundation, Property Rights Alliance, United Nations, Transparency International, World Bank Group, Marsh & McLennan and World Economic Forum.”
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