Nigeria has emerged as the top performing African country in economic performance according to the 2026 World Competitiveness Ranking released by the International Institute for Management Development. The country ranked 55th globally in economic performance with a score of 45.2, placing ahead of other African economies included in the assessment.
The ranking measured factors such as domestic economic activity, international trade, employment, investment flow, and price stability. Among the six African countries assessed, Nigeria recorded the highest score, ahead of South Africa, Ghana, Kenya, Namibia, and Botswana. The wide margin between Nigeria and the lowest ranked African country in the report reflects the country’s relative strength in economic activity despite difficult operating conditions.
However, the report also exposed a major contradiction in Nigeria’s economy. Although the country performed strongly in economic output, it continued to struggle in overall competitiveness. Nigeria slipped to 68th position out of 70 economies globally, showing that growth figures alone are not enough to create a stable and competitive business environment.
One of the biggest concerns remains infrastructure. Nigeria ranked last globally in this category, highlighting the poor condition of roads, electricity supply, digital connectivity, and other critical systems needed for sustainable economic growth. Government efficiency and business efficiency also declined compared to the previous year, raising concerns about policy implementation, institutional stability, and investor confidence.
The result presents a mixed picture of the Nigerian economy. On one hand, the country continues to maintain economic relevance within Africa because of its market size, population strength, and commercial activity. On the other hand, structural weaknesses continue to reduce its ability to compete effectively on the global stage.
Recent developments further support this concern. Nigeria continues to rely heavily on external financing to support reforms and development projects. The World Bank recently approved a 1.25 billion dollar financing package aimed at improving investment conditions, expanding infrastructure, and supporting private sector growth. At the same time, sectors such as telecommunications and energy still face deep operational gaps. For instance, the Nigerian Communications Commission disclosed that fibre to home internet penetration remains very low despite rising broadband demand.
The IMD ranking sends a clear message. Nigeria’s economy may still be active and influential within Africa, but activity alone cannot guarantee competitiveness. Without stronger institutions, reliable infrastructure, policy consistency, and improved business conditions, the country risks remaining economically large but structurally weak.
For Nigeria to move beyond symbolic rankings, reforms must produce measurable improvements in productivity, investment confidence, and living standards. Sustainable competitiveness will depend not only on economic growth, but on the country’s ability to build systems that support long term development.
