The latest World Economic Forum (WEF) rankings for global competitiveness in doing business saw Nigeria drop three places from 124 to 127 in the world, meaning it is more difficult to do business in the country.
Of the 138 countries considered in the Global Competitiveness Index, Nigeria was only better than 11 countries, most of which are war-torn and crises ridden countries.
According to the report, Nigeria ranked least on health and primary education, and was greatly affected by weaker macroeconomic environment.
“Although still relatively low, the government deficit has almost doubled since last year and national savings has significantly suffered, worsening the current account position,” WEF said.
“Banks are less solid, reducing the availability of credit. Despite the central bank ending its currency peg, financial authorities have retained........... Read the full story
Source: thecable.ng
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