An evaluation through Forbes has rated Nigeria as the 110th nice country for commercial enterprise (Business) within the globe in 2019. This doesn’t look good in any way but we are still better than some African countries that doesn’t even make the list. Nigeria is blessed with so much amenities that could encourage business establishments and boost it’s revenue.
Nigeria is also ranked 14th in Africa at the listing. A complete of 161 countries were graded in the record. Formerly, Nigeria became ranked as a 115th pleasant country for business within the globe and 3rd in Africa in a total of 153 nations that had been surveyed in September 2018.
The cutting-edge ranking means that the same time Nigeria’s rating advanced globally, eleven other African nations have leaped ahead of Nigeria in being “hospitable to capital funding.”
Forbes is an American own family-managed commercial enterprise magazine. It features original articles on finance, enterprise, investing, advertising and marketing topics.
Forbes also reports on related subjects inclusive but not limited to communications,science, technology, politics, and law.
Inline with the latest published list through Forbes on December 19, 2018, UK is rated 1st, Sweden is 2nd, Hong Kong is rated 3rd, Netherlands rated 4th, New Zealand is rated 5th and Canada is 6th. The United States whom many think are the power house in the best business practice is unfortunately rated 17th.
South Africa, according to the list by Forbes, came first in Africa whilst Nigeria is rated 14th in Africa with a population of 203 million people, a Gross domestic Product boom of 0.8 cent and GDP with capita of $2,000.
This position put Nigeria behind South Africa, rated 59th globally. Morocco is 62nd, Seychelles rated 66th and Tunisia is rated 82nd. Botswana came 83rd on the listing globally. Rwanda is ninetieth, Kenya rated 93rd, Ghana is 94th. Egypt is ninety fifth and Namibia rated 96th. Senegal rated 100th, Zambia is rated 103rd and Cape Verde 104th and then Nigeria rated 110th globally.
Explaining how they derived the score. 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.”
They explain forward, “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”
Nigeria was previously ranked 115th position in the world by the magazine. And 3rd in Africa in a complete list of 153 international countries that were surveyed in September 2018.
African countries made most of the list as the worst countries for business with seven of the bottom 10 . These countries typically fare poorly on business development, trade freedom facilitation and investor protection. The Central African Republic rated last. The very conflict-prone nation has a GDP per capita of only $400 as reported by Forbes.