Best Countries Ranking: ‘Giant Of Africa’ Nigeria Far Behind Morocco, Egypt, Others
Nigeria, which prides itself as the ‘Giant of Africa’, is trailing behind eight other African countries in a ranking of Best Countries released by the U.S. News in partnership with Y&R's BAV Group and The Wharton School of the University of Pennsylvania.
The list showed countries with their Gross Domestic Product (GDP), the population and the GDP Per Capita.
Leading the list is Switzerland followed by Canada, Germany, United Kingdom and Japan.
The report drew its conclusion after measuring country's wealth, success, policies that create possibilities, the people that drive the effort and the history that shapes the environment and perspective.
The publisher of the ranking said 2018 Best Countries rankings seek to understand a nation's worth beyond hard metrics.
The report and rankings are based on how global perceptions define countries in terms of a number of qualitative characteristics, impressions that have the potential to drive trade, travel and investment and how they directly affect national economies.
It also covers perceptions of 80 nations and Nigeria was at the 76th position trailing South Africa, Egypt, Morocco, Kenya, Tanzania, Tunisia and Ghana.
The Best Countries ranking put the leading nation’s (Switzerland) GDP at $659.8 billion, with a population of 8.4 million and $60,374 GDP per capita.
Canada followed with $1.5 trillion GDP, 36.3 million population and $46,441 GDP per capita.
Another European nation, Germany is in third position with $3.5 trillion GDP, 82.7 million population and $48,449 GDP per capita.
Africa’s leading nation, South Africa grossed $294.8 billion GDP, 55.9 million population, $13,291 GDP Per Capita.
Egypt in 42nd position has $336.3 billion GDP, 95.7 million population and $12,551 GDP per capita.
At the third position is Morocco which is at 47th position in the world, with $101.4 billion GDP, 35.3 million population and $8,160 GDP per capita.
Nigeria, with its large population of 186.0 million is at the 76 position in the world and 8th in Africa, moving up one step from 77th position that it occupied in 2017 with $405.1 billion GDP, 186.0 million population and $5,936 GDP per capita.
The nation prides itself as the Giant of Africa, but it appears its population is the only very conspicuous variable that puts it ahead of other nations in the continent, making it a choice destination for investors.
However, forcing these investors to apply caution are issues like poor power supply, taxation and implementation of laws. These have continued to pose concerns for investors who consistently eye the population of over 186 million people.
The government surely has so much work to do to make the nation sit at the top of other African countries not just with its population if it must continue to claim it is the Giant of Africa.