IMD 2026: Nigeria Tops Africa in Economic Performance but Drops in Global Ranking

A recent IMD report ranks Nigeria as Africa’s best-performing economy on the economic performance pillar, outscoring South Africa, Ghana, Kenya, Namibia and Botswana. The country scored 45.2, placing it 55th globally. Despite this continental lead, Nigeria slipped from 67th to 68th in the overall competitiveness index. Weak infrastructure, macroeconomic instability and institutional gaps remain key barriers. Business leaders cite high borrowing costs, exchange rate swings and inflation as major hurdles. Security risks, power shortages and transport bottlenecks also feature. On the upside, Nigeria ranks 16th in public finance, 15th in tax policy and 22nd in labour market performance. Sustained reforms are essential for further global progress.

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