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Why Ranking Nigeria 127TH In Competitiveness Is Faulty – Mordi

The criteria used to rank Nigeria as number 127th, out of 144 countries, by the World Economic Forum (WEF) did not consider reality of things on the ground, the Chief Executive Officer of the National Competitiveness Council of Nigeria, Matthias Chika Mordi, has said.

The recent WEF report, where the ranking was contained, regarded Nigeria as Africa’s largest economy but said the country has continued its downward spiral on the Global Competitive Index (GCI) as it fell seven places to 127th position this year, from the 120th position it occupied last year.
In an interview with Daily Trust Mordi, who noted that the report recognised Nigeria as Africa’s largest economy based on the recent rebasing of its GDP, said: “It is confounding that they used the old GDP figures for computing their scores thus, putting Nigeria at a disadvantage.”

Read More: http://dailytrust.com.ng/daily/business/34564-why-ranking-nigeria-127th-in-competitiveness-is-faulty-mordi