Nigeria has emerged as the highest-performing economy among leading African countries featured in the 2026 International Institute for Management Development (IMD) world competitiveness ranking.
The IMD report, which assessed 70 countries, measured economies across four major pillars: economic performance, government efficiency, business efficiency and infrastructure.
Under the economic performance category, which evaluates domestic economic activity, international trade and investment, employment and prices, Nigeria scored 45.2 points to rank 55th globally.
This placed Nigeria ahead of five other African countries included in the assessment.
According to the IMD, South Africa ranked second among African nations with 36.27 points, placing 64th globally, while Ghana came third with 34.6 points and a global ranking of 65th.
Kenya secured fourth place in Africa with 33.19 points, ranking 66th overall, while Namibia followed with 22.3 points to place 68th.
Botswana ranked last among the African countries assessed, scoring 18.25 points and placing 69th globally.
The report showed a 26.95-point gap between Nigeria, the highest-ranked African economy in economic performance, and Botswana, the lowest-ranked.
The ranking comes as the federal government continues implementing reforms aimed at stabilising key sectors of the economy.
Despite leading Africa in economic performance, Nigeria slipped in the broader 2026 IMD world competitiveness ranking, dropping to 68th out of 70 economies, one place lower than its 2025 position.
The report showed Nigeria recorded an overall competitiveness score of 38.8.
Nigeria also dropped in government efficiency, falling to 53rd from 50th in 2025, while business efficiency declined to 63rd from 59th.
Its infrastructure ranking worsened further, placing 70th out of 70 countries surveyed, down from 68th in the previous year.
In specific economic performance indicators, Nigeria ranked 51st in domestic economy, 64th in international trade, 64th in international investment, 61st in prices and 64th in employment.
Within the government efficiency category, the country ranked 16th in public finance and 15th in tax policy.
However, it performed poorly in institutional framework at 69th, business legislation at 58th and societal framework at 69th.
Under business efficiency, Nigeria ranked 65th in productivity and efficiency, 22nd in labour market, 70th in finance, 62nd in management practices and 58th in attitudes and values.
The infrastructure category showed Nigeria ranked 69th in basic infrastructure, 68th in technological infrastructure, 63rd in scientific infrastructure and 70th in both health and environment, as well as education.
The IMD also highlighted major concerns for business executives operating in Nigeria.
Borrowing costs ranked highest at 67.6 per cent, followed by exchange rate volatility at 67.3 per cent, inflation at 61.2 per cent, global uncertainty at 48 per cent, supply chain disruptions at 33 per cent and labour constraints at 32 per cent.
The report noted that insecurity, insurgency and banditry, particularly in Nigeria’s agricultural belt, remain significant obstacles to competitiveness.
It also cited infrastructure deficits, including unreliable electricity supply and transport bottlenecks, as factors increasing the cost of doing business.
According to the IMD, macroeconomic instability, high inflation, weak public institutions, corruption and low human capital development continue to weigh heavily on Nigeria’s global competitiveness.