According to the latest Legatum prosperity Index™ that was released in November 2017, Nigeria is the 128th most prosperous country in the world and 29th most prosperous in Africa.
“The Legatum Prosperity Index is a framework that assesses countries on the promotion of their citizens’ flourishing, reflecting both wealth and wellbeing. It captures the richness of a truly prosperous life, moving beyond traditional macro-economic measurements of a nation’s prosperity.”
According to the report, Nigeria rose seven places (128)from its position last year (135), and the rise they said was driven by improvements in Business Environment, Economic Quality, Social Capital and Personal Freedom.
Nigeria may have one of Africa’s most powerful economies, but it scored pretty poorly in all nine subindexes. It did particularly badly in the safety and security index, ranking as one of the most unsafe countries surveyed.
The biggest positive change, compared to last year, came in Social Capital increasing by 12 places, whereas the country dropped 1 place on Education.
The biggest negative rank was safety & security, Health, and economic quality here Nigeria was ranked 145th, 142nd, 131st respectively.
Nigeria was also ranked poorly in Governance (114), personal freedom (113) and natural environment (102).
Overall Prosperity In Nigeria
In the overall Prosperity Index rankings, Nigeria climbed 7 positions from 135 to 128 when compared to last year.
Nigeria’s Ranking in the Nine Pillars of prosperity
Nigeria’s overall prosperity ranking was based on 104 different variables grouped in nine sub-index. This nine index are listed below.
- Economic Quality 131st
- Business Environment 74th
- Governance 114th
- Education 118th
- Health 142nd
- Safety & Security 145th
- Personal Freedom 113th
- Social Capital 47th
- Natural Environment 102nd
The Index captures the breadth of prosperity across nine pillars of prosperity using 104 indicators.
The Index is based on 104 different variables analysed across 149 nations around the world. Source data includes
Gallup World Poll , World Development Indicators, International Telecommunication Union Fragile States Index , Worldwide Governance Indicators, Freedom House, World Health Organisation, World Values Survey, Amnesty International, Centre for Systemic Peace.