Thirteen African countries have been ranked higher than Nigeria in Forbes Magazine\u2019s Best Country for Business ranking for 2019.<\/p>\n\n\n\n
Nigeria emerged as the 110th Best Country for Business, below South Africa, ranked 59, 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).<\/p>\n\n\n\n
\u201cForbes has rated the business friendliness of the world\u2019s biggest economies annually for the past 13 years. Despite the uncertainty surrounding Brexit, the United Kingdom ranked first for the second straight year on the strength of its workforce, innovation and lack of red tape.<\/p>\n\n\n\n
\u201cWe determined the Best Countries for Business by rating 161 nations on 15 different factors namely property rights, innovation, taxes, technology, corruption, infrastructure, market size, political risk, quality of life, workforce, freedom (personal, trade and monetary), red tape and investor protection.<\/p>\n\n\n\n
Each category was equally weighted. We only included countries with data across at least 11 categories. The U.K. was the only country to rank among the top 30 countries in each of the categories,\u201d said Forbes.<\/p>\n\n\n\n
Nigeria was ranked 135 in trade freedom, 141 for monetary freedom, 116 for innovation and 93 for technology. Nigeria was also ranked 123 for technology, 105 for red tape, 37 for investor protection, 91 for personal freedom and 132 for tax burden.<\/p>\n\n\n\n
Forbes noted that though Nigeria has strong fundamentals, its economic potentials is been undermined by inadequate power supply, lack of infrastructure and other socioeconomic challenges.<\/p>\n\n\n\n
It stated: \u201cDespite its strong fundamentals, oil-rich Nigeria has been hobbled by inadequate power supply, lack of infrastructure, delays in the passage of legislative reforms, an inefficient property registration system, restrictive trade policies, an inconsistent regulatory environment, a slow and ineffective judicial system, unreliable dispute resolution mechanisms, insecurity, and pervasive corruption.<\/p>\n\n\n\n
\u201cRegulatory constraints and security risks have limited new investment in oil and natural gas, and Nigeria\u2019s oil production had been contracting every year since 2012 until a slight rebound in 2017.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Thirteen African countries have been ranked higher than Nigeria in Forbes Magazine\u2019s Best Country for Business ranking for 2019. Nigeria emerged as the 110th Best Country for Business, below South…<\/p>\n","protected":false},"author":61,"featured_media":108492,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[19],"tags":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2019\/01\/asia-660x330.jpg?fit=660%2C330&ssl=1","jetpack-related-posts":[{"id":115771,"url":"https:\/\/www.citypeopleonline.com\/nigeria-ranked-sixth-most-miserable-country-in-the-world-forbes\/","url_meta":{"origin":108491,"position":0},"title":"Nigeria ranked sixth most miserable country in the world – Forbes","author":"Igbokwe John","date":"April 2, 2019","format":false,"excerpt":"An economist from John Hopkins University in Baltimore, US, Steve Hanke, has ranked Nigeria as the sixth most miserable country in the world. \u00a0The ranking is titled, Hanke\u2019s Annual Misery Index 2018: The World\u2019s Saddest (And Happiest) Countries. \u00a0 Writing in the Forbes magazine of March 28, the economist notes\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"https:\/\/www.citypeopleonline.com\/news\/"},"img":{"alt_text":"Rewane Bismark, Oil marketers, Fuel, NNPC,","src":"https:\/\/scontent-sea1-1.cdninstagram.com\/vp\/0a5eb61213d10abf0ad7775de407662c\/5CAD93EB\/t51.2885-15\/e35\/47503065_271725766846940_2413013520521593238_n.jpg","width":350,"height":200,"srcset":"https:\/\/scontent-sea1-1.cdninstagram.com\/vp\/0a5eb61213d10abf0ad7775de407662c\/5CAD93EB\/t51.2885-15\/e35\/47503065_271725766846940_2413013520521593238_n.jpg 1x, https:\/\/scontent-sea1-1.cdninstagram.com\/vp\/0a5eb61213d10abf0ad7775de407662c\/5CAD93EB\/t51.2885-15\/e35\/47503065_271725766846940_2413013520521593238_n.jpg 1.5x, https:\/\/scontent-sea1-1.cdninstagram.com\/vp\/0a5eb61213d10abf0ad7775de407662c\/5CAD93EB\/t51.2885-15\/e35\/47503065_271725766846940_2413013520521593238_n.jpg 2x, https:\/\/scontent-sea1-1.cdninstagram.com\/vp\/0a5eb61213d10abf0ad7775de407662c\/5CAD93EB\/t51.2885-15\/e35\/47503065_271725766846940_2413013520521593238_n.jpg 3x"},"classes":[]},{"id":19307,"url":"https:\/\/www.citypeopleonline.com\/nigeria-retains-position-13th-least-stable-country-world\/","url_meta":{"origin":108491,"position":1},"title":"Nigeria retains position as 13th least stable country in the world","author":"Arinze Ago","date":"May 16, 2017","format":false,"excerpt":"For the second time in a row, Washington DC-based think-tank, Fund For Peace, FFP, has ranked Nigeria as the 13th least stable country in the world on the Fragile States Index, FSI, after recording a total score of 101.6\u200e for the 2017 ranking. The Index measures levels of stability in\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"https:\/\/www.citypeopleonline.com\/news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2017\/05\/Fund-for-Peace-690x450.jpg?fit=690%2C450&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2017\/05\/Fund-for-Peace-690x450.jpg?fit=690%2C450&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2017\/05\/Fund-for-Peace-690x450.jpg?fit=690%2C450&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":62916,"url":"https:\/\/www.citypeopleonline.com\/workplace-gender-equality-nigeria-ranks-4th-in-africa\/","url_meta":{"origin":108491,"position":2},"title":"Workplace Gender Equality: Nigeria Ranks 4th In Africa","author":"Damilare Salami","date":"October 30, 2018","format":false,"excerpt":"Nigeria ranked 4th out of 54 African countries in workplace gender equality scoring 50, with a growth rate of 25 per cent between 2008 and 2017, Mo Ibrahim Foundation says. The News Agency of Nigeria (NAN) reports that the 2018 Ibrahim Index of African Governance (IIAG) was launched by the\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"https:\/\/www.citypeopleonline.com\/news\/"},"img":{"alt_text":"Women, workplace gender equality,","src":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2018\/10\/Over-500-Celebrity-Women-Storm-2018-COWLSO.jpg?fit=1200%2C554&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2018\/10\/Over-500-Celebrity-Women-Storm-2018-COWLSO.jpg?fit=1200%2C554&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2018\/10\/Over-500-Celebrity-Women-Storm-2018-COWLSO.jpg?fit=1200%2C554&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2018\/10\/Over-500-Celebrity-Women-Storm-2018-COWLSO.jpg?fit=1200%2C554&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2018\/10\/Over-500-Celebrity-Women-Storm-2018-COWLSO.jpg?fit=1200%2C554&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":109013,"url":"https:\/\/www.citypeopleonline.com\/dangotes-wealth-drops-by-2-billion-retains-africas-richest-man-position-forbes\/","url_meta":{"origin":108491,"position":3},"title":"Dangote’s Wealth Drops By $2 billion, Retains Africa’s Richest Man Position – Forbes","author":"Damilare Salami","date":"January 10, 2019","format":false,"excerpt":"Mr Aliko Dangote, the Dangote Group President has retained his Africa\u2019s richest man position for the eighth consecutive time despite the fact that his wealth dipped by $2 billion. Dangote\u2019s net worth value, which stood at $12.2 billion in January, last year, is down to $10 billion a year after,\u2026","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/www.citypeopleonline.com\/magazine\/business\/"},"img":{"alt_text":"Aliko Dangote","src":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2017\/09\/DANGOTE-PIX.jpg?fit=653%2C778&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2017\/09\/DANGOTE-PIX.jpg?fit=653%2C778&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2017\/09\/DANGOTE-PIX.jpg?fit=653%2C778&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":12650,"url":"https:\/\/www.citypeopleonline.com\/forbes-releases-top-10-richest-nigerians-2017\/","url_meta":{"origin":108491,"position":4},"title":"Forbes releases top 10 richest Nigerians in 2017","author":"Reporter","date":"March 30, 2017","format":false,"excerpt":"Website renowned for ranking of richest people in the world, has made available the list of richest people in Nigeria in 2017. In its recent release, 9 Nigerians made the billionaires club cut with some, just few million dollars away from reaching the benchmark. Below are top 10 richest men\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"https:\/\/www.citypeopleonline.com\/news\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":29529,"url":"https:\/\/www.citypeopleonline.com\/nigeria-top-10-corrupt-nations-first-time-decade\/","url_meta":{"origin":108491,"position":5},"title":"Nigeria Out of Top 10 Most Corrupt Nations for the First Time in a Decade","author":"Arinze Ago","date":"July 28, 2017","format":false,"excerpt":"Nigeria was not listed among the ten most corrupt countries in the rating just released by Transparency International. Nigeria had consecutively been in the top ten for over a decade. Nigeria occupies the 28th position in the latest ranking. The Corruption Perceptions Index ranked 176 countries on a scale of\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"https:\/\/www.citypeopleonline.com\/news\/"},"img":{"alt_text":"Buhari resumes office","src":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2017\/03\/Buhari-resumes-5.jpg?fit=552%2C368&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2017\/03\/Buhari-resumes-5.jpg?fit=552%2C368&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.citypeopleonline.com\/wp-content\/uploads\/2017\/03\/Buhari-resumes-5.jpg?fit=552%2C368&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/posts\/108491"}],"collection":[{"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/comments?post=108491"}],"version-history":[{"count":1,"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/posts\/108491\/revisions"}],"predecessor-version":[{"id":108493,"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/posts\/108491\/revisions\/108493"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/media\/108492"}],"wp:attachment":[{"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/media?parent=108491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/categories?post=108491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.citypeopleonline.com\/wp-json\/wp\/v2\/tags?post=108491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}