Nigeria Tops South Africa, Ghana, Kenya In IMD Economic Performance Ranking

Nigeria ranked ahead of South Africa, Ghana and Kenya in IMD’s economic performance assessment despite a decline in overall competitiveness.

Nigeria has emerged as the highest performing economy among African countries assessed in the International Institute for Management Development (IMD) World Competitiveness Ranking 2026.

The IMD report, which evaluated 70 economies across economic performance, government efficiency, business efficiency and infrastructure, placed Nigeria ahead of South Africa, Ghana, Kenya, Namibia and Botswana on the economic performance pillar.

The economic performance category measures domestic economic activity, international trade and investment, employment and prices.

Nigeria recorded a score of 45.2 points in the category, ranking 55th globally and securing the highest position among the African economies included in the assessment.

South Africa followed as the second highest ranked African economy with a score of 36.27 points and a global ranking of 64th, while Ghana placed third on the continent with 34.6 points and ranked 65th worldwide.

Kenya secured fourth place in Africa with a score of 33.19 points and a global ranking of 66th, while Namibia recorded 22.3 points to place 68th globally.

Botswana ranked lowest among the African countries surveyed, posting 18.25 points and finishing 69th overall.

The IMD data showed a 26.95 point gap between Nigeria, the highest ranked African country in economic performance, and Botswana, the lowest ranked.

The ranking comes as the federal government continues efforts to stabilise the economy through reforms across key sectors.

Despite leading its African peers in economic performance, Nigeria’s overall competitiveness weakened in the latest assessment.

The country ranked 68th out of 70 economies in the 2026 IMD World Competitiveness Ranking, slipping one place from its 2025 position and posting an overall competitiveness score of 38.8.

Nigeria’s government efficiency ranking dropped to 53rd from 50th in 2025, while business efficiency fell to 63rd from 59th.

Its infrastructure ranking declined further to 70th out of the 70 economies surveyed, down from 68th the previous year.

Under the economic performance pillar, Nigeria ranked 51st in domestic economy, 64th in international trade, 64th in international investment, 61st in prices and 64th in employment.

Within government efficiency, Nigeria ranked 16th in public finance and 15th in tax policy.

However, it placed 69th in institutional framework, 58th in business legislation and 69th in societal framework.

Under business efficiency, the country ranked 65th in productivity and efficiency, 22nd in labour market, 70th in finance, 62nd in management practices and 58th in attitudes and values.

The infrastructure category showed Nigeria ranking 69th in basic infrastructure, 68th in technological infrastructure, 63rd in scientific infrastructure and 70th in both health and environment and education.

The report also identified the biggest concerns for business executives operating in Nigeria.

Borrowing costs topped the list at 67.6 percent, followed by exchange rate volatility at 67.3 percent, inflation at 61.2 percent, global uncertainty at 48 percent, supply chain disruptions at 33 percent and labour constraints at 32 percent.

The IMD cited data from Nigeria’s National Productivity Centre, which identified insecurity, insurgency and banditry, particularly in the agricultural belt, as major obstacles to competitiveness.

The report also highlighted infrastructure deficits, including unreliable electricity supply and transport bottlenecks, as factors increasing the cost of doing business.

According to the IMD, macroeconomic instability, high inflation, weak public institutions, corruption and low human capital development continue to weigh on Nigeria’s competitiveness.