The
World Economic Forum (WEF) 2015 Global Competitiveness Index (GCI) rankings
which placed Nigeria 127 of the 144 countries assessed is based on lagging
indicators, according to the National Competitiveness Council of Nigeria
(NCCN).
“The
underlying analytical framework of the GCI is based upon lagging indicators
that do not reflect one of the most fundamental changes for Nigeria: the
rebasing of our economy,” said Chika Mordi, CEO of the NCCN, in a statement
made available to BusinessDay.
“It
is instructive to note that Nigeria’s rebased GDP, which the WEF report
declared as Africa’s largest economy, was not used in their computations, with
negative consequences for our scores,” said Mordi.
Nigeria
rebased her GDP statistics earlier this year, showing it had
