gci top20 economy & nigeria

StatiSense ® - Wale Micaiah ©

Vision 20:2020:Vision 20:2020:Vision 20:2020:Vision 20:2020:Nigeria & the Top20 Most Nigeria & the Top20 Most Nigeria & the Top20 Most Nigeria & the Top20 Most Competitive EconomiesCompetitive EconomiesCompetitive EconomiesCompetitive Economies

Vision 20:2020:Vision 20:2020:Vision 20:2020:Vision 20:2020:Nigeria & the Top 20 Most Nigeria & the Top 20 Most Nigeria & the Top 20 Most Nigeria & the Top 20 Most Competitive EconomiesCompetitive EconomiesCompetitive EconomiesCompetitive Economies

VisionVisionVisionVision 20202020::::2020202020202020 is an articulation of the long-termintent to launch Nigeria onto a path of sustainedsocial and economic progress and accelerate theemergence of a truly prosperous and united Nigeria.

This Vision reflects the intent of the Federal Republicof Nigeria to become one of the top twentyeconomies in the world by the year 2020, with anoverarching growth target of no less than $900 billionin GDP and a per capita income of no less than $4000per annum.

This will not happen suddenly but by gradualevaluation of where we are, now, and takingprogressive and proactive measures to be better.

How is Nigeria economy fairing now compared to theTop 20 Global Competitive countries?

In this study; The World Economic Forum, in theirGlobal Competitiveness Index (GCI) report of 2011 –2012, have identified 20 top economies with a highcompetitive index, this is used in comparison withNigeria economy GCI with the hope of findingsimilarities and disparities, so as to know where theNational Technical Working Groups (NTWGs) canconcentrate efforts to measure up in the next 8years.

Methodology of Study:Methodology of Study:Methodology of Study:Methodology of Study:

The World Economic Forum (WEF); havingidentified some 12 Pillars as metrics to measurecountries/economies competitiveness, theaverage of each pillar for the Top20 economieswill be compared to that of Nigeria in order tofind:

- How far is Nigeria from Vision20:2020- Is Vision20:2020 possible?- What is the expected growth rate to achieve

Vision 20:2020- Any possible alliance with other country to quickly

achieve this?

The 12 Pillars of GCIThe 12 Pillars of GCIThe 12 Pillars of GCIThe 12 Pillars of GCI� Institutions

� Infrastructure

� Macroeconomic Environment

� Health and Primary Education

� Higher Education & Training

� Goods Market Efficiency

� Labor Market Efficiency

� Financial Market Development

� Technological Readiness

� Market Size

� Business Sophistication

� Innovation

BASIC

REQUIREMENTS

EFFICIENCY

ENHANCERS

INNOVATION &

SOPHISTICATION

FACTORS

The Top20 Economies are:The Top20 Economies are:The Top20 Economies are:The Top20 Economies are:Rank Top 20 Economies 2012* 2011 2010 2009 2008

1 Switzerland 5.74 5.63 5.6 5.61 5.62

2 Singapore 5.63 5.48 5.55 5.53 5.45

3 Sweden 5.61 5.56 5.51 5.53 5.54

4 Finland 5.47 5.37 5.43 5.5 5.49

5 United States 5.43 5.43 4.92 5.74 5.67

6 Germany 5.41 5.39 5.37 5.46 5.51

7 Netherlands 5.41 5.33 5.32 5.41 5.4

8 Denmark 5.40 5.32 5.46 5.58 5.55

9 Japan 5.40 5.37 5.37 5.38 5.43

10 United Kingdom 5.39 5.25 5.19 5.3 5.41

11 Hong Kong SAR 5.36 5.3 5.22 5.33 5.37

12 Canada 5.33 5.3 5.33 5.37 5.34

13 Taiwan, China 5.26 5.21 5.2 5.22 5.25

14 Qatar 5.24 5.1 4.95 4.83 4.63

15 Belgium 5.20 5.07 5.09 5.14 5.1

16 Norway 5.18 5.14 5.17 5.22 5.2

17 Saudi Arabia 5.17 4.95 4.75 4.72 4.55

18 France 5.14 5.13 5.13 5.22 5.18

19 Austria 5.14 5.09 5.13 5.23 5.23

20 Australia 5.11 5.11 5.15 5.2 5.17

*Every year, each country is rated on a scale of 1 – 7 using the 12 pillars

Pillar 1: InstitutionPillar 1: InstitutionPillar 1: InstitutionPillar 1: InstitutionRank Country/Economy 2010 2011 2012

1 Switzerland 5.85 5.77 5.78

2 Singapore 6.15 6.13 6.11

3 Sweden 6.10 6.12 6.06

4 Finland 6.05 5.96 5.98

5 United States 4.81 4.67 4.64

6 Germany 5.50 5.50 5.27

7 Netherlands 5.66 5.54 5.61

8 Denmark 6.08 5.84 5.94

9 Japan 4.90 5.08 5.18

10 United Kingdom 5.07 5.28 5.34

11 Hong Kong SAR 5.62 5.73 5.63

12 Canada 5.50 5.55 5.57

13 Taiwan China 4.73 4.82 4.94

14 Qatar 5.69 5.55 5.39

15 Belgium 4.98 4.98 5.03

16 Norway 5.88 5.82 5.74

17 Saudi Arabia 4.84 5.22 5.47

18 France 4.95 5.04 5.00

19 Austria 5.55 5.42 5.24

20 Australia 5.60 5.49 5.39

Top20 Average Score 5.4755 5.4755 5.4655

111 Nigeria 3.34 3.18 3.31

Rank – rank of each country in 2012 report 2010, 2011, 2012 represent Score index for each country on a scale of 1 – 7.

The Average Score Index of

the Top20 economies is

approximately 5.47.

Nigeria with a current 3.31

score index and 4% growth

rate from previous year

would achieve a score index

of 4.53 by Year 2020 which

is far below the average

score index of the Top20 –assuming their economic growth

remain the same.

In reality and by calculation; becoming one of the Top20

economies by Pillar 1: Institution is not practicable

Pillar Pillar Pillar Pillar 2: 2: 2: 2: InfrastructureInfrastructureInfrastructureInfrastructureRank Country/Economy 2010 2011 2012

1 Switzerland 6.35 6.09 6.15

2 Singapore 6.35 6.22 6.33

3 Sweden 5.82 5.76 5.74

4 Finland 5.87 5.59 5.62


6 Germany 6.59 6.43 6.35

7 Netherlands 5.74 5.93 6.02

8 Denmark 5.83 5.69 5.89

9 Japan 5.83 5.69 5.69


11 Hong Kong SAR 6.54 6.77 6.71

12 Canada 5.93 5.8 5.88

13 Taiwan China 5.6 5.63 5.62

14 Qatar 4.58 5.24 5.17

15 Belgium 5.58 5.53 5.65

16 Norway 4.95 5 4.95

17 Saudi Arabia 4.63 5.07 5.31

18 France 6.52 6.24 6.3

19 Austria 5.89 5.56 5.64

20 Australia 5.19 5.44 5.43


135 Nigeria 2.29 2.02 2.21


the Top20 economies over

3yrs is approximately 5.776.

Nigeria Infrastructure is indirectly

proportional to its economic

status, it however grew by 9%

from 2011 to 2012 having fallen by

12% the year before.

If a growth rate of 5% is

maintained, by year 2020 Nigeria

would not have attained a score

index worth any of the Top20. This

is however possible by year 2032

Nigeria current Infrastructure – Electricity, Communication,

Transportation Systems among others – ranks 135 of 142

economies

Pillar Pillar Pillar Pillar 3: Macroeconomic Environment3: Macroeconomic Environment3: Macroeconomic Environment3: Macroeconomic EnvironmentRank Country/Economy 2010 2011 2012

1 Switzerland 5.63 5.81 4.9

2 Singapore 5.24 5.2 5.39

3 Sweden 5.7 5.61 4.2

4 Finland 5.78 5.58 6.45


6 Germany 5.28 5.32 5.34

7 Netherlands 5.21 5.29 5.62

8 Denmark 5.71 5.56 6.28

9 Japan 4.22 4.12 6.09


11 Hong Kong SAR 5.67 5.67 5.06

12 Canada 5.24 5.14 5.39

13 Taiwan China 5.34 5.36 4.6

14 Qatar 5.73 5.71 4.54

15 Belgium 4.74 4.56 5.71

16 Norway 5.94 5.43 6.4

17 Saudi Arabia 5.86 5.35 5.43

18 France 4.72 4.98 6.26

19 Austria 5.22 5.3 6.08

20 Australia 5.56 5.55 6.22


121 Nigeria 5.43 4.25 3.96




Between 2010 and 2012, Nigeria

Macroeconomic Environment

index has dropped by 27%. The

current index of 3.96 is far

below any of the Top20 index for

year 2012, with a 5% growth

rate, it is expected that Nigeria

would measure up with at least

the 5.34 average score before

2020.

Of a truth, the 2010 score index is probably one of the best

achievement for Nigeria, placing her at the 20th position for Pillar 3.

Pillar Pillar Pillar Pillar 4: Health and Primary 4: Health and Primary 4: Health and Primary 4: Health and Primary EducationEducationEducationEducationRank Country/Economy 2010 2011 2012


2 Singapore 6.22 6.67 6.32

3 Sweden 6.22 6.41 6.52

4 Finland 6.46 6.75 6.28


6 Germany 6.01 6.32 6.54

7 Netherlands 6.22 6.53 6.51

8 Denmark 6.31 6.36 6.53

9 Japan 6.13 6.52 5.78


11 Hong Kong SAR 5.76 6.29 6.58

12 Canada 6.3 6.6 6.24

13 Taiwan China 6.2 6.5 6.37

14 Qatar 6.3 6.43 6.42

15 Belgium 6.43 6.75 6.76

16 Norway 6.16 6.33 6.28

17 Saudi Arabia 5.37 5.64 6.27

18 France 6.22 6.42 6.25

19 Austria 6.14 6.41 6.35

20 Australia 6.18 6.49 6.65


140 Nigeria 2.96 3.00 3.28

This Pillar correlates the fact that the average Nigerian is

estimated to live for about 47years ranking 140 of 142 countries.




The Health index of the Nigeria

state is less than 50% that of the

Top20; however, there has been a

considerable growth of 1% from

2010 to 2011 and 9% from 2011

to 2012. With an assumed growth

rate of 5% for subsequent years,

by 2020 Nigeria will still not

measure up to the any of the

Top20.

Pillar Pillar Pillar Pillar 5: Higher Education & 5: Higher Education & 5: Higher Education & 5: Higher Education & TrainingTrainingTrainingTrainingRank Country/Economy 2010 2011 2012


2 Singapore 5.62 5.77 5.81

3 Sweden 5.76 5.9 6.09

4 Finland 5.97 6.06 5.75


6 Germany 5.07 5.33 5.49

7 Netherlands 5.49 5.63 5.13

8 Denmark 5.9 5.84 5.66

9 Japan 5.06 5.28 5.59


11 Hong Kong SAR 4.74 4.94 5.62

12 Canada 5.5 5.66 4.62

13 Taiwan China 5.43 5.63 5.47

14 Qatar 4.93 4.84 5.73

15 Belgium 5.52 5.71 5.38

16 Norway 5.48 5.59 5.27

17 Saudi Arabia 4.29 4.55 5.75

18 France 5.3 5.36 5.24

19 Austria 5.19 5.38 5.64

20 Australia 5.33 5.53 5.57


114 Nigeria 3.03 2.99 3.18

The best of our Tertiary Institutions ranks only with other African

countries with no place in the first 1000 in the world.




Vision 20 2020 for Pillar 5 is

statistically not realistic. With

the current trend of meager

investment in the Education

sector, it will take Nigeria at

least 2024 to achieve a score

index worth competing with the

Top20.

Pillar Pillar Pillar Pillar 6: Goods Market 6: Goods Market 6: Goods Market 6: Goods Market EfficiencyEfficiencyEfficiencyEfficiencyRank Country/Economy 2010 2011 2012

1 Switzerland 5.24 5.31 5.06

2 Singapore 5.77 5.65 4.89

3 Sweden 5.27 5.3 4.98

4 Finland 4.98 4.92 4.69


6 Germany 5.01 4.97 5.17

7 Netherlands 5.24 5.17 4.84

8 Denmark 5.21 5.1 5.24

9 Japan 5.06 5.06 5.25


11 Hong Kong SAR 5.54 5.57 5.12

12 Canada 5.08 5.11 5.06

13 Taiwan China 5.1 5.09 4.56

14 Qatar 4.96 5.1 4.97

15 Belgium 5.11 5.08 4.89

16 Norway 4.95 4.95 5.04

17 Saudi Arabia 4.79 5.11 4.79

18 France 4.86 4.69 5.41

19 Austria 5.14 5 5.21

20 Australia 5.2 5.02 5.57


73 Nigeria 4.24 3.97 4.18

This appears to be one of the Pillars that Nigeria would not

have to wait till 2020 to realize her dreams




By 2016 – with the current

score index and growth rate

of 5% - Nigeria will strongly

compete with any of the

Top20.

Pillar Pillar Pillar Pillar 7: Labor Market Efficiency7: Labor Market Efficiency7: Labor Market Efficiency7: Labor Market EfficiencyRank Country/Economy 2010 2011 2012

1 Switzerland 5.78 5.13 5.86

2 Singapore 5.91 4.75 4.82

3 Sweden 4.91 4.64 4.94

4 Finland 4.85 5.42 5.39


6 Germany 4.33 4.85 4.89

7 Netherlands 4.81 4.47 5.67

8 Denmark 5.53 4.4 4.84

9 Japan 5.1 5.82 5.43


11 Hong Kong SAR 5.59 4.83 5.04

12 Canada 5.4 4.97 4.86

13 Taiwan China 4.85 5.03 5.36

14 Qatar 5.04 4.42 4.41

15 Belgium 4.66 5.92 4.76

16 Norway 4.99 4.89 5.04

17 Saudi Arabia 4.33 5.92 4.61

18 France 4.39 4.74 4.38

19 Austria 4.71 5.29 4.71

20 Australia 5.2 5.63 5.57


70 Nigeria 4.24 3.97 4.18




The Labour Market Efficiency

score index of Nigeria will be

ranked among the Top20 before

year 2016 if the current growth

rate is sustained or improved

upon.

Pillar Pillar Pillar Pillar 8: Financial Market Development8: Financial Market Development8: Financial Market Development8: Financial Market DevelopmentRank Country/Economy 2010 2011 2012

1 Switzerland 5.15 5.34 4.76

2 Singapore 5.91 5.76 4.64

3 Sweden 5.17 5.15 4.64

4 Finland 5.33 5.38 5.46


6 Germany 4.68 4.62 4.86

7 Netherlands 4.9 4.71 5.38

8 Denmark 5.31 4.94 5.35

9 Japan 4.65 4.61 5.06


11 Hong Kong SAR 5.95 5.85 5.2

12 Canada 5.25 5.16 5.01

13 Taiwan China 4.4 4.63 5

14 Qatar 4.69 4.91 4.94

15 Belgium 4.86 4.64 5.34

16 Norway 5.29 5.35 4.96

17 Saudi Arabia 4.44 4.83 4.54

18 France 4.95 4.96 5.78

19 Austria 4.85 4.74 5.24

20 Australia 5.51 5.45 5.84


86 Nigeria 4.37 3.99 3.89




There is a downward trend

of -9% and -3% rate from

2010 to 2011 and 2011 to

2012 respectively.

If there is an upturn of this

downward trend with an

assumed 5% growth rate, Vision

20 2020 for pillar 8 is still a

possibility.

Pillar Pillar Pillar Pillar 9: Technological Readiness9: Technological Readiness9: Technological Readiness9: Technological ReadinessRank Country/Economy 2010 2011 2012

1 Switzerland 5.24 5.31 5.06

2 Singapore 5.77 5.65 4.89

3 Sweden 5.27 5.3 4.98

4 Finland 4.98 4.92 4.69


6 Germany 5.01 4.97 5.17

7 Netherlands 5.24 5.17 4.84

8 Denmark 5.21 5.1 5.24

9 Japan 5.06 5.06 5.25


11 Hong Kong SAR 5.54 5.57 5.12

12 Canada 5.08 5.11 5.06

13 Taiwan China 5.1 5.09 4.56

14 Qatar 4.96 5.1 4.97

15 Belgium 5.11 5.08 4.89

16 Norway 4.95 4.95 5.04

17 Saudi Arabia 4.79 5.11 4.79

18 France 4.86 4.69 5.41

19 Austria 5.14 5 5.21

20 Australia 5.2 5.02 5.57


106 Nigeria 2.91 3.04 3.08




Technological readiness of an

economy is greatly dependent

upon solid infrastructural

development; Nigeria ranks 135

of 142 in 2012 GCI for

Infrastructure, little wonder the

Technological readiness of its

economy is at a very low ebb.

With 5% growth rate; 2024 is

expected to be one of the

Top20.

Pillar Pillar Pillar Pillar 10: Market Size10: Market Size10: Market Size10: Market SizeRank Country/Economy 2010 2011 2012

1 Switzerland 4.56 5.12 4.56

2 Singapore 4.53 4.59 4.59

3 Sweden 4.63 4.77 4.15

4 Finland 4.23 5.46 4.21


6 Germany 6.02 4.15 4.3

7 Netherlands 5.12 5.76 4.76

8 Denmark 4.32 6.01 5.1

9 Japan 6.17 4.74 5.44


11 Hong Kong SAR 4.73 5.1 5.1

12 Canada 5.47 4.34 3.86

13 Taiwan China 5.16 3.75 5.77

14 Qatar 3.61 4.97 6

15 Belgium 4.83 4.51 4.58

16 Norway 4.35 4.58 6.12

17 Saudi Arabia 4.88 4.54 4.78

18 France 5.78 5.15 5.74

19 Austria 4.62 5.8 5.21

20 Australia 5.1 6.93 6.92


34 Nigeria 4.49 4.65 4.59




Nigeria is the 7th largest Nation in

terms of population but not

economy. This Pillar is currently

Nigeria’s most competitive

advantage, however a larger

percentage of the populace are

not benefiting from this

advantage due to inherent

challenge in basic development at

the grass root and national level.

With 5% economic growth rate;

by 2015 Nigeria will rank among

Top20 economies

Pillar Pillar Pillar Pillar 11: Business Sophistication11: Business Sophistication11: Business Sophistication11: Business SophisticationRank Country/Economy 2010 2011 2012


2 Singapore 5.2 5.1 5.46

3 Sweden 5.66 5.88 5.91

4 Finland 5.4 5.29 5.04


6 Germany 5.82 5.82 5.58

7 Netherlands 5.54 5.55 4.67

8 Denmark 5.51 5.41 5.82

9 Japan 5.89 5.92 5.11


11 Hong Kong SAR 5.19 5.01 4.91

12 Canada 5.12 5.03 5.53

13 Taiwan China 5.22 5.17 5.14

14 Qatar 4.55 4.85 5.41

15 Belgium 5.28 5.24 5.4

16 Norway 5.12 5.17 5.27

17 Saudi Arabia 4.61 4.91 5.66

18 France 5.3 5.18 4.99

19 Austria 5.54 5.46 5.83

20 Australia 4.79 4.67 5.13


64 Nigeria 4 3.79 3.96




The indexes for Business

Sophistication is quite

encouraging; this goal is

realizable by 2019 if 5%

growth rate could be

achieved in subsequent

years.

Pillar Pillar Pillar Pillar 12: Innovation12: Innovation12: Innovation12: InnovationRank Country/Economy 2010 2011 2012


2 Singapore 5.09 5.04 4.79

3 Sweden 5.39 5.45 5.59

4 Finland 5.53 5.56 4.53


6 Germany 5.11 5.19 5.03

7 Netherlands 4.79 4.77 4.48

8 Denmark 5.04 4.89 5.77

9 Japan 5.51 5.52 4.16


11 Hong Kong SAR 3.86 3.91 5.07

12 Canada 4.8 4.87 5.1

13 Taiwan China 5.28 5.29 4.72

14 Qatar 3.65 4.11 4.94

15 Belgium 4.62 4.59 5.72

16 Norway 4.53 4.49 4.69

17 Saudi Arabia 3.7 3.92 5.39

18 France 4.5 4.48 4.18

19 Austria 4.46 4.48 5.76

20 Australia 4.43 4.41 5.33


82 Nigeria 3.06 2.87 3.01




The innovative ability of

Nigeria according to the

current score index is about

60% of the average Score index

of the Top20 economies.

The least innovative country

being Japan and the most is

Denmark

Current Growth Trend of the Top20 EconomiesCurrent Growth Trend of the Top20 EconomiesCurrent Growth Trend of the Top20 EconomiesCurrent Growth Trend of the Top20 Economies

From above, the lower score indexes have higher probability of achieving at least a 2.5% growth rate. This gives Nigeria the

possibility of achieving her Vision 20:2020 goals if she can achieve more than 5% yearly growth rate per Pillar.

% Growth from

2011 - 2012

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Country/Economy

Switzerland 0.17% 0.99% 8.09% -0.46% 0.17% -1.32% 0.51% 0.19% 12.50% -0.66% 0.17% 3.04%

Singapore -0.33% 1.77% 19.62% -0.30% 0.00% -1.42% -1.01% 1.39% 10.28% 1.11% 0.59% 5.75%

Sweden -0.98% -0.35% 8.38% -0.94% -1.53% -1.70% -1.43% 1.75% 2.78% 0.22% -0.85% 5.69%

Finland 0.34% 0.54% 2.33% 0.15% 0.50% -0.61% 1.86% -0.74% 11.22% 0.00% 2.08% 2.88%

United States -0.64% 0.53% 2.28% -1.14% -1.24% -0.21% -1.07% 4.28% 2.55% -0.14% -0.93% -1.42%

Germany -4.18% -1.24% 2.07% -0.79% 7.50% -3.62% 0.23% -1.73% 4.66% -0.17% -2.75% 3.85%

Netherlands 1.26% 1.52% 0.95% 0.15% 0.53% 0.00% 0.21% 3.18% 2.34% 0.00% 0.54% 5.45%

Denmark 1.71% 3.51% -3.06% -1.89% -1.54% -0.78% -1.46% 1.42% 10.32% -0.94% 2.22% 4.29%

Japan 1.97% 0.00% 1.94% 0.00% -0.19% -1.58% -0.79% 0.65% 3.90% 0.16% -0.17% 1.27%

United Kingdom 1.14% 3.57% -4.62% 0.31% 2.43% 0.20% 1.32% 4.44% 8.96% -0.52% 1.69% 6.24%

Hong Kong SAR -1.75% -0.89% 10.41% -0.64% 3.85% -2.87% -2.58% -1.20% 2.52% 0.42% -0.40% 6.91%

Canada 0.36% 1.38% -1.56% -0.30% -1.24% 0.20% 0.18% 0.78% 5.06% -0.37% -2.39% 4.11%

Taiwan China 2.49% -0.18% 6.34% 0.15% 0.18% 0.79% -0.63% 4.54% 0.79% 1.17% 1.16% -0.38%

Qatar -2.88% -1.34% 12.08% -2.33% -4.55% -1.18% -3.38% 1.02% 6.76% 2.93% 8.66% 14.11%

Belgium 1.00% 2.17% 7.46% 0.00% 0.70% -0.39% -0.65% 2.59% 11.11% 0.21% 1.15% 5.23%

Norway -1.37% -1.00% 18.78% -0.79% -1.79% -5.25% -1.61% 2.06% 9.35% -0.92% -2.51% 0.89%

Saudi Arabia 4.79% 4.73% 13.83% 2.48% 5.71% 2.74% 3.39% 4.76% 3.84% -1.01% 4.07% 6.12%

France -0.79% 0.96% -7.63% -0.78% -2.24% -2.77% -2.01% 0.81% 6.63% -0.35% -0.77% 5.36%

Austria -3.32% 1.44% 1.70% -1.40% 0.00% -2.20% 0.21% -2.11% 6.09% -0.22% 0.00% 6.92%

Australia -1.82% -0.18% 1.26% 0.31% 1.63% -3.59% -1.75% -1.28% 2.82% -0.39% 0.00% 1.59%

Nigeria 4.09% 9.41% -6.82% 9.33% 6.35% 5.29% 0.23% -2.51% 1.32% -1.29% 4.49% 4.88%

AlliancesAlliancesAlliancesAlliances� The countries with most probable alliance are Saudi

Arabia and Qatar. Saudi Arabia achieved positive growthin 10 of the 12 Pillars while Qatar achieved 5.

� On the other hand, Nigeria could partner with individualcountry based on their area of competitive advantage;Singapore & Norway for growth in her MacroeconomicEnvironment, Belgium & Finland for TechnologiesReadiness, Saudi Arabia & Australia/UK for Health andPrimary Education, etc. – pg20.

� All countries except Taiwan, China have appreciablegrowth in Technological Readiness

Catching up with the Top20 EconomiesCatching up with the Top20 EconomiesCatching up with the Top20 EconomiesCatching up with the Top20 EconomiesNo. Pillar @5% @4% @3% @2% @1%

1 Institutions 2023 2025 2029 2037 2062

2 Infrastructure 2031 2036 2044 2059 2100

3 Macroeconomic Environment |--------------------Already achieved--------------------|

4 Health and Primary Education 2027 2031 2037 2049 2086

5 Higher Education & Training 2024 2027 2032 2041 2069

6 Goods Market Efficiency 2016 2017 2019 2022 2032

7 Labor Market Efficiency 2015 2016 2017 2019 2026

8 Financial Market Development 2015 2016 2017 2020 2027

9 Technological Readiness 2026 2029 2034 2045 2077

10 Market Size 2015 2015 2016 2018 2032

11 Business Sophistication 2018 2020 2022 2027 2041

12 Innovation 2022 2024 2028 2035 2058

For instance; In subsequent years, if Nigeria experience a 5% growth rate in

Pillar 2: Institution, by 2023 Nigeria will be ranked among the Top20

economies.

Similarly; at 5% growth rate, Nigeria would only rank among Top20 economies in

Macroeconomic Environment, Goods Market Efficiency, Labor Market Efficiency,

Financial Market Development, Market Size and Business Sophistication by 2020.

StatiSense ® - Wale Micaiah ©

Freely share, freely use and freely acknowledge the source – © Wale Micaiah

Data source:

- The World Economic Forum https://www.weforum.org/

- WEF_GlobalCompetitivenessReport_2011 – 2012

- WEF_GlobalCompetitivenessReport_2010-11

- WEF_GlobalCompetitivenessReport_2009-2010fullreport

- Nigeria Vision 20:2020, Economic Transformation Blueprint

Analysis by: WaleWaleWaleWale MicaiahMicaiahMicaiahMicaiaheeee:::: [email protected]:::: 08078001800bbbb:::: walemicaiah.blog.comwwww.... www.statisense.info

gci top20 economy & nigeria

Education

average score

world economic

wale micaiah

top20 economies

nigeria amp

5 growth rate

subsequent

rank