Nigeria has emerged as the highest-performing African economy in the International Institute for Management Development (IMD) World Competitiveness Ranking 2026, outperforming South Africa, Ghana, Kenya, Namibia, and Botswana in the economic performance category. The latest report, which assessed 70 economies worldwide, awarded Nigeria 45.2 points, placing it 55th globally and making it the top-ranked African nation in terms of economic performance.
The IMD ranking evaluates countries across four key pillars: economic performance, government efficiency, business efficiency, and infrastructure. Within Africa, South Africa followed Nigeria with a score of 36.27, ranking 64th globally, while Ghana secured third place with 34.6 points. Kenya ranked fourth with 33.19 points, followed by Namibia and Botswana. The report highlighted a significant 26.95-point gap between Nigeria, the continent’s best performer in economic performance, and Botswana, the lowest-ranked African country in the category.
Nigeria’s strong showing comes as the Federal Government continues implementing economic reforms aimed at stabilising growth, attracting investment, and improving productivity. The country recorded notable rankings in public finance and tax policy, placing 16th and 15th globally, respectively. These results reflect efforts to strengthen fiscal management and create a more supportive environment for economic activity despite ongoing domestic and global pressures.
However, the report also revealed a less encouraging picture in Nigeria’s overall competitiveness. The country slipped one position to 68th out of 70 economies in the 2026 IMD World Competitiveness Ranking, with an overall score of 38.8. Government efficiency, business efficiency, and infrastructure rankings all declined compared to the previous year, while Nigeria ranked last globally in infrastructure, health and environment, education, and finance indicators. The findings suggest that economic growth gains are still being constrained by structural weaknesses across key sectors.
Business leaders surveyed by the IMD identified borrowing costs, exchange rate volatility, inflation, and global uncertainty as the most pressing challenges facing companies in Nigeria. The report also cited insecurity, insurgency, inadequate infrastructure, unreliable electricity supply, and transport bottlenecks as major obstacles to competitiveness. According to the IMD, persistent macroeconomic instability, weak institutions, corruption, and low human capital development continue to limit Nigeria’s ability to translate economic potential into broader global competitiveness, underscoring the need for deeper reforms to sustain long-term growth.
source: The cable
