Nigeria ranks 129th most prosperous country in the World in 2018

Nigeria has been ranked the 129th most prosperous nation in the Legatum Prosperity index, an annual ranking produced and published by Legatum Institute, London.
The Legatum Prosperity Index offers insight into how prosperity is forming and changing across the globe, and also serves as a tool for leaders around the world to help tailor their agendas for growth and development.
The country’s score in the index for 2018 stood at 50.91, compared to 48.00 and 49.22 recorded in 2016 and 2017, respectively. The country moved from 136th and 132nd position recorded in the last two years, to 129th position in 2018.

The Index is based on 104 different variables analysed across 149 countries around the world.
According to the Legatum Institute, the index is constituted by nine sub-indices namely economic quality, business environment, governance, education, health, safety and security, personal freedom, social capital and natural environment.
Africa’s most populous nation recorded improvement in all the sub-indices between the current and previous year, except in safety and security.
In economic quality category, the country moved five spot higher to 139th. In business regulatory environment, the country shifted from 143rd in the previous year to 139th in 2018. In governance, Nigeria moved a spot higher from 108th to 107th. Similarly, in education, the country moved a spot higher to 123rd from 124th obtained in the previous year.

In health, the country moved two spots higher to 143rd. For personal freedom, the country’s ranking shifted from 117th to 111th. Nigeria moved a spot higher to 49th in social capital, and went two spot higher to 106th position in natural environment. A decline to 145th from 143rd in the preceding year was recorded in safety and security.
Nigeria has its highest ranking in social capital (49th) and worst ranking in safety and security (145th) in 2018.
The year’s prosperity ranking showed that other countries in Africa soil such as Kenya (66th), South-Africa (68th), Ghana (84th), Morocco (103rd) and Senegal (106th) are ahead of Nigeria.

“Global prosperity rises to highest ever level in the 12-year history of the index, with more people living prosperous lives than ever before, but falling safety and security poses major challenges, communities and nations around the world,” the Institute commented.
Stephen Brien, director of Policy of the Institute, acknowledged that prosperity was dependent on good leadership to identify and pursue domestic priorities as well as mobilising clear agenda for development.
The 2018 prosperity index identified that the gap between countries with highest and lowest prosperity scores is widening, and that safety and security continues to decline, with the most significant worsening in the Middle Eastern and North African (MENA) and Sub-Saharan African (SSA) regions, which are driven by terrorism, war, oppressive regimes and decreasing availability of food and shelter.