Nigeria,
now Africa’s largest economy, continued its downward trend and fell by seven
places to 127th this year on the latest World Economic Forum (WEF) Global
Competitiveness report 2014-2015, largely on the back of weakened public
finances as a result of lower oil exports.
According
to the report, Nigerian institutions remain weak (129th) with insufficiently
protected property rights, high corruption, and undue influence.
In
addition, the security situation remains dire, with Nigeria ranking 139th out
of 144 countries ranked this year.
“Nigeria
must continue to upgrade its infrastructure (134th) as well as improve its
health and primary education (143rd). Furthermore, the country is
