NCCN advises government on Nigeria’s ranking on Global Competitiveness Index
The National Competitiveness Council of Nigeria (NCCN) has urged the government to take into consideration the recommendations made in the World Economic Forum’s Global Competitiveness Index to improve the level of competitiveness and business productivity in the country.
It would be recalled that on September 28th, 2016, the World Economic Forum released the Global Competitiveness Index for 2016-2017 which measures and ranks competitiveness of 138 economies.
The report revealed that the Nigeria’s ranking deteriorated from 124th in 2015-2016 to 127th in 2016-2017 similar to 2014-2015 ranking.
According to NCCN, the three place deterioration corresponds to a five place drop in ranking when 2015-16 rank is common-sized to reflect differences in sample sizes for both years.
“Nigeria still lags behind in several areas addressed in the Global Competitiveness Index. This year’s report saw the largest movements in the areas of Macroeconomic Environment and Financial Market Efficiency”, NCCN said.
The NCCN said it is always available to shed more light and answer questions from the report and anything pertaining to competitiveness.
The NCCN which has Matthias Chika Mordi as its Chief Executive, is a public-private effort aimed at developing and implementing a clear competitiveness agenda in Nigeria which will improve the business environment and ultimately advance the socio-economic conditions of the Nation.
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