Nigeria emerged as the highest-performing African economy on the economic performance pillar of the International Institute for Management Development (IMD) World Competitiveness Ranking 2026, outperforming five other African countries assessed in the report.
- +Nigeria ranks 55th globally, tops Africa in IMD economic performance
The IMD report, which evaluated 70 economies across economic performance, government efficiency, business efficiency and infrastructure, ranked Nigeria 55th globally on economic performance with a score of 45.2.
The IMD report, which evaluated 70 economies across economic performance, government efficiency, business efficiency and infrastructure, ranked Nigeria 55th globally on economic performance with a score of 45.2.
Despite leading Africa in economic performance, Nigeria slipped one place in the overall competitiveness ranking, placing 68th out of 70 economies as persistent infrastructure deficits, macroeconomic instability and institutional challenges continued to weigh on its business environment.
The IMD said Nigeria recorded the highest economic performance score among the six African countries included in the assessment, with a significant gap over its continental peers.
The economic performance pillar measures domestic economic activity, international trade and investment, employment, and price developments.
The ranking suggests Nigeria recorded stronger economic performance relative to its African peers, even as broader competitiveness challenges persisted.
While Nigeria led Africa in economic performance, its overall competitiveness weakened in the 2026 IMD rankings due to declines across several key pillars.
The report also showed mixed performance across other indicators.
The IMD noted that business executives in Nigeria identified borrowing costs, exchange rate volatility and inflation as the country’s biggest competitiveness challenges.
The report also cited insecurity, insurgency, banditry, unreliable electricity supply and transport bottlenecks as major obstacles to improving competitiveness.
These findings suggest that while Nigeria’s economy outperformed its African peers on economic performance, structural reforms aimed at improving infrastructure, strengthening institutions and lowering the cost of doing business remain critical to enhancing its overall global competitiveness.
Nigeria’s economy grew by 4.07 per cent year-on-year in real terms in the fourth quarter (Q4) of 2025.
The reaffirmation follows S&P’s November 2025 decision to upgrade Nigeria’s outlook from stable to positive while keeping the B-/B foreign and local currency ratings.
