Nigeria is the 110th best country for business in the world, according to Forbes’ latest ranking. Among the 161 countries rated, the United Kingdom is number one while the Central African Republic came last.
See the top 10 countries
See the bottom 10
According to the rating, South Africa ranked 59th in the world but 1st in Africa. Other African countries which ranked above Nigeria include: Morocco (62), Seychelles (66), Tunisia (82), Botswana (83), Rwanda (90), Kenya (93), Ghana (94), Egypt (95), Namibia (96), Senegal (100), Zambia (103) and Cape Verde (104).
Nigeria is ranked 14th in Africa.
The United States of America is rated 17th, below Ireland and Finland.
Forbes said the ranking was done considerng 15 different factors, including property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape and investor protection. Other metrics included were workforce, infrastructure, market size, quality of life and risk.
“The data is based on published reports from Freedom House, Heritage Foundation, Property Rights Alliance, United Nations, Transparency International, World Bank Group, Marsh & McLennan and World Economic Forum.”