Download Country/Economy Profiles

2.1: Country/Economy Profiles
Nigeria
Key indicators, 2010
GDP (PPP) per capita (int’l $), 1985–2010
Population (millions)...............................................158.3
GDP (US$ billions)...................................................216.8
GDP per capita (US$) .............................................1,389
GDP (PPP) as share (%) of world total..................0.51
Nigeria
2,500
Sub-Saharan Africa
2,000
1,500
1,000
500
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
Global Competitiveness Index
Rank
(out of 142)
Stage of development
Score
(1–7)
GCI 2011–2012 ...................................................... 127......3.4
Factor
driven
Basic requirements (60.0%).............................................139........ 3.2
Institutions...........................................................................111........ 3.3
Infrastructure......................................................................135........ 2.2
Macroeconomic environment .........................................121........ 4.0
Health and primary education.........................................140........ 3.3
280
Transition
1–2
1
GCI 2010–2011 (out of 139)................................................127........ 3.4
GCI 2009–2010 (out of 133)..................................................99........ 3.6
Transition
2–3
2
3
Efficiency
driven
Innovation
driven
Institutions
7
Innovation
5
Business
sophistication
Efficiency enhancers (35.0%)............................................80........ 3.9
Higher education and training.........................................114........ 3.2
Goods market efficiency.....................................................73........ 4.2
Labor market efficiency......................................................70........ 4.4
Financial market development ..........................................86........ 3.9
Technological readiness...................................................106........ 3.1
Market size ...........................................................................34........ 4.6
Infrastructure
6
Macroeconomic
environment
4
3
2
Market size
Health and
primary
education
1
Higher education
and training
Technological
readiness
Innovation and sophistication factors (5.0%) ................69........ 3.5
Business sophistication .....................................................64........ 4.0
Innovation..............................................................................82........ 3.0
Financial market
development
Goods market
efficiency
Labor market efficiency
Nigeria
Factor-driven economies
The most problematic factors for doing business
Access to financing.............................................................22.2
Inadequate supply of infrastructure.................................19.9
Corruption..............................................................................17.7
Policy instability .....................................................................8.3
Crime and theft.......................................................................5.8
Inflation....................................................................................5.3
Tax rates ..................................................................................3.4
Foreign currency regulations ..............................................3.3
Inefficient government bureaucracy..................................3.2
Government instability/coups..............................................3.0
Tax regulations .......................................................................2.8
Restrictive labor regulations................................................1.9
Poor public health..................................................................1.4
Poor work ethic in national labor force.............................1.2
Inadequately educated workforce .....................................0.5
0
5
10
15
Percent of responses
20
25
Note: From a list of 15 factors, respondents were asked to select the five most problematic for doing business in their country and to rank them between
1 (most problematic) and 5. The bars in the figure show the responses weighted according to their rankings.
The Global Competitiveness Report 2011-2012 © 2011 World Economic Forum
30
The Global Competitiveness Index in detail
INDICATOR
VALUE RANK/142
INDICATOR
1st pillar: Institutions
VALUE RANK/142
6th pillar: Goods market efficiency
1.01
1.02
1.03
1.04
1.05
1.06
1.07
1.08
1.09
1.10
1.11
1.12
1.13
1.14
1.15
1.16
1.17
1.18
1.19
1.20
1.21
Property rights....................................................... 3.2 .......... 122
Intellectual property protection ............................. 2.8 .......... 104
Diversion of public funds ...................................... 2.2 .......... 129
Public trust of politicians ........................................1.9 .......... 120
Irregular payments and bribes .............................. 2.9 .......... 123
Judicial independence........................................... 3.7 ............73
Favoritism in decisions of government officials .... 2.6 .......... 106
Wastefulness of government spending ................ 2.3 .......... 122
Burden of government regulation ......................... 3.6 ............36
Efficiency of legal framework in settling disputes 3.9 ............55
Efficiency of legal framework in challenging regs. 3.8 ............58
Transparency of government policymaking........... 4.0 ............88
Business costs of terrorism .................................. 4.3 .......... 128
Business costs of crime and violence .................. 3.4 .......... 123
Organized crime .................................................... 4.0 .......... 121
Reliability of police services.................................. 3.0 .......... 122
Ethical behavior of firms ....................................... 3.5 ............96
Strength of auditing and reporting standards ....... 3.7 .......... 126
Efficacy of corporate boards ................................. 4.3 ............89
Protection of minority shareholders’ interests...... 3.7 .......... 108
Strength of investor protection, 0–10 (best)* ....... 5.7 ............47
2.01
2.02
2.03
2.04
2.05
2.06
2.07
2.08
2.09
Quality of overall infrastructure ............................. 3.0 .......... 125
Quality of roads..................................................... 2.7 .......... 120
Quality of railroad infrastructure.............................1.6 .......... 104
Quality of port infrastructure................................. 3.3 ...........117
Quality of air transport infrastructure .................... 3.9 .......... 104
Available airline seat kms/week, millions* ........ 282.8 ............51
Quality of electricity supply....................................1.5 .......... 139
Fixed telephone lines/100 pop.* ........................... 0.7 .......... 134
Mobile telephone subscriptions/100 pop.* ......... 55.1 .......... 122
3.01
3.02
3.03
3.04
3.05
3.06
Government budget balance, % GDP*.................-7.2 .......... 121
Gross national savings, % GDP* .........................31.1 ............27
Inflation, annual % change*................................ 13.7 .......... 140
Interest rate spread, %* ...................................... 11.1 .......... 120
General government debt, % GDP* ................... 16.4 ............18
Country credit rating, 0–100 (best)* ................... 38.2 ............82
4.01
4.02
4.03
4.04
4.05
4.06
4.07
4.08
4.09
4.10
Business impact of malaria ................................... 2.7 .......... 134
Malaria cases/100,000 pop.* ....................... 39,736.4 .......... 135
Business impact of tuberculosis ........................... 4.0 .......... 123
Tuberculosis incidence/100,000 pop.* .............. 295.0 .......... 123
Business impact of HIV/AIDS ............................... 3.8 .......... 121
HIV prevalence, % adult pop.* ............................. 3.6 .......... 129
Infant mortality, deaths/1,000 live births*........... 85.8 .......... 134
Life expectancy, years*....................................... 48.1 .......... 136
Quality of primary education................................. 3.1 .......... 105
Primary education enrollment, net %* ................61.4 .......... 138
5.01
5.02
5.03
5.04
5.05
5.06
5.07
5.08
Secondary education enrollment, gross %*....... 30.5 .......... 128
Tertiary education enrollment, gross %* ............ 10.1 .......... 108
Quality of the educational system ........................ 3.8 ............65
Quality of math and science education ................ 3.4 .......... 102
Quality of management schools ........................... 4.0 ............80
Internet access in schools..................................... 3.3 .......... 104
Availability of research and training services ........ 4.1 ............64
Extent of staff training .......................................... 4.1 ............58
2nd pillar: Infrastructure
3rd pillar: Macroeconomic environment
4th pillar: Health and primary education
5th pillar: Higher education and training
6.01
6.02
6.03
6.04
6.05
6.06
6.07
6.08
6.09
6.10
6.11
6.12
6.13
6.14
6.15
6.16
Intensity of local competition................................ 4.8 ............73
Extent of market dominance................................. 4.1 ............45
Effectiveness of anti-monopoly policy................... 4.3 ............54
Extent and effect of taxation................................. 4.0 ............30
Total tax rate, % profits*..................................... 32.2 ............43
No. procedures to start a business*........................ 8 ............78
No. days to start a business* ................................ 31 .......... 100
Agricultural policy costs ........................................ 3.5 .......... 104
Prevalence of trade barriers .................................. 3.8 .......... 126
Trade tariffs, % duty*........................................... 11.1 ...........117
Prevalence of foreign ownership........................... 4.7 ............71
Business impact of rules on FDI........................... 4.6 ............77
Burden of customs procedures ............................ 3.5 .......... 109
Imports as a percentage of GDP* ...................... 29.6 .......... 114
Degree of customer orientation............................ 4.5 ............ 76
Buyer sophistication.............................................. 3.4 ............ 76
7.01
7.02
7.03
7.04
7.05
7.06
7.07
7.08
7.09
Cooperation in labor-employer relations................ 4.0 ............95
Flexibility of wage determination .......................... 5.4 ............42
Rigidity of employment index, 0–100 (worst)* ......7.0 ............10
Hiring and firing practices ..................................... 5.2 ..............7
Redundancy costs, weeks of salary* .................... 50 ............88
Pay and productivity .............................................. 3.8 ............78
Reliance on professional management ................. 4.3 ............66
Brain drain ............................................................. 3.5 ............55
Women in labor force, ratio to men*.................. 0.53 .......... 123
8.01
8.02
8.03
8.04
8.05
8.06
8.07
8.08
Availability of financial services............................. 4.1 ............93
Affordability of financial services .......................... 4.0 ............75
Financing through local equity market .................. 3.9 ............49
Ease of access to loans ........................................ 2.1 .......... 125
Venture capital availability ..................................... 2.2 .......... 104
Soundness of banks.............................................. 3.7 .......... 136
Regulation of securities exchanges....................... 4.0 ............81
Legal rights index, 0–10 (best)* ............................ 8.0 ............20
9.01
9.02
9.03
9.04
9.05
9.06
Availability of latest technologies .......................... 4.4 .......... 107
Firm-level technology absorption .......................... 4.7 ............79
FDI and technology transfer.................................. 4.3 ............91
Internet users/100 pop.*..................................... 28.4 ............83
Broadband Internet subscriptions/100 pop.* ........ 0.1 .......... 124
Internet bandwidth, kb/s/capita*........................... 0.0 .......... 135
2.1: Country/Economy Profiles
Nigeria
7th pillar: Labor market efficiency
8th pillar: Financial market development
9th pillar: Technological readiness
10th pillar: Market size
10.01 Domestic market size index, 1–7 (best)*.............. 4.4 ............30
10.02 Foreign market size index, 1–7 (best)* ................. 5.0 ............39
11th pillar: Business sophistication
11.01
11.02
11.03
11.04
11.05
11.06
11.07
11.08
11.09
Local supplier quantity .......................................... 4.9 ............54
Local supplier quality............................................. 4.1 ............88
State of cluster development................................ 4.3 ............30
Nature of competitive advantage .......................... 3.4 ............65
Value chain breadth ............................................... 3.7 ............57
Control of international distribution....................... 4.1 ............65
Production process sophistication ........................ 3.4 ............80
Extent of marketing............................................... 3.6 ............96
Willingness to delegate authority ......................... 3.9 ............47
12.01
12.02
12.03
12.04
12.05
12.06
12.07
Capacity for innovation.......................................... 3.2 ............54
Quality of scientific research institutions .............. 3.2 ............92
Company spending on R&D.................................. 3.3 ............46
University-industry collaboration in R&D............... 3.1 .......... 108
Gov’t procurement of advanced tech products..... 3.2 .......... 105
Availability of scientists and engineers ................. 4.1 ............71
Utility patents granted/million pop.* ..................... 0.0 ............90
12th pillar: Innovation
Notes: Values are on a 1-to-7 scale unless otherwise annotated with an asterisk (*). For further details and explanation, please refer to the section “How to
Read the Country/Economy Profiles” on page 89.
The Global Competitiveness Report 2011-2012 © 2011 World Economic Forum
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