Nigeria: How does Africa’s second-largest economy perform in global rankings that study country brand and soft power strength, environmental sustainability, and economic development? How does Nigeria’s booming economy influence its international reputation?
Let’s take a closer look at:
- Nigeria’s soft power and brand strength
- Its appeal to skilled labour, investors, and visitors
- The country’s global contribution to peace and well-being
- How well it fares in terms of happiness and sustainability
Nigeria’s Appeal to Talent, Investors, Trade, and Travel
As per the UNCTAD World Investment Report 2023, Nigeria does not rank among the top 20 economies for inflows or outflows. However, it does detail that Nigeria’s inflows turned negative, to -$187 million, due to equity divestments. Despite this, there has been an increased value of announced greenfield projects by 24 percent. In the African region, Nigeria ranks fourth as a renewable energy host.
The Bloom Consulting biannual Country Brand Ranking Trade Edition 2022-2023 assesses investment-related variables, emphasising perceptions of a country’s trade-specific brand and evaluating branding performance. Regionally, Nigeria ranks first, becoming the new star of the African region as it surpassed South Africa. This increase is due to Nigeria’s consistent performance, while South Africa’s performance declined this past year. Globally, Nigeria secured the 36th position.
In addition, the Bloom Consulting Country Brand Ranking Tourism Edition 2022-2023 places Nigeria at the 103rd global position. Regionally, it climbed five positions, currently placing 10th. This jump is attributed to its social media and online performance for the first time. However, the country experienced a drop in tourism receipts, with a decrease in its CBS Rating © and D2- Digital Demand ©.
Nigeria, classified as a lower-middle-income country within the Sub-Saharan African regional group, currently holds the 114th position in the Global Talent Competitiveness Index 2023. It performs best in the GK Skills pillar (52nd), while its main challenge is the VT Skills factor (123rd).
Soft Power Strength
In the Global Soft Power Index 2023 by Brand Finance, Nigeria secures the 93rd spot, sitting above Bosnia and Herzegovina (94th) and Sudan (95th). The country experienced a drop of twenty-four positions from 2022, although its score increased by 3.4%.
Peace and Happiness
The Global Peace Index 2023 ranks Nigeria 144th, dropping three positions. It falls under the Low sector of the ‘State of Peace’ spectrum as defined by the Institute for Economics & Peace.
The Institute for Economics & Peace similarly ranks Nigeria within the Highest Impact (Brown) zone in terms of the ‘Impact of Terrorism’ in the 2022 Global Terrorism Index. Nigeria ranks 8th, between Iraq (7th) and Myanmar (9th).
Meanwhile, the World Happiness Report 2023, which displays the Ranking of Happiness based on a three-year average from 2020–2022, ranks Nigeria 95th (although there was no data from 2022 surveys for the country).
Sustainability
The 2022 edition of the Environmental Performance Index (EPI) ranks Nigeria 162nd, tying with Nepal and below China and Morocco, who tied for the 160th position. The EPI analyses the performance of 180 countries, scoring and ranking these countries on their environmental performance using the most recent year of data available, as well as providing calculable changes in scores over the previous decade. Nigeria has experienced a change in score of negative 6.10.
The Sustainable Development Report 2023 ranks Nigeria in 146th position. It highlights that the country has reached SDG achievement level for the Responsible Consumption and Production goal. However, the country continues to face some major and significant challenges to achieve this status in the other goals.
Nigeria a “Good Country”?
In the CAF World Giving Index 2023, Nigeria secured the 9th position, a jump of five positions since last year’s index. Notably, it performs admirably in the subfactor of helping a stranger, ranking 4th globally, with 79% of its adult population partaking in this activity.
In the Good Country Index, Nigeria currently holds the 140th position overall. In 2021 it held the 135th position. While the country has experienced a notable decline since the 2022 ranking, there has been a significant increase in the International Peace and Security factor.
According to the Economist Intelligence Unit (EIU) Democracy Index 2023, Nigeria ranked in the light orange (4-5) range with a score of 4.23 out of 10. This is higher than Algeria and Niger, who scored 3.66 and 3.73, but lower than Senegal and Kenya, who scored 5.72 and 5.05.
The 2022 Corruption Perception Index ranks Nigeria 150th with a score of 24/100, tying with Afghanistan, Cambodia, the Central African Republic, Guatemala, Lebanon, and Tajikistan. Nigeria’s score has remained the same since 2021.
Last updated in October 2023. More country profiles here.
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Disclaimer: The information in this article is intended to provide a general overview of Nigeria’s economic and cultural landscape and facilitate comparison over time. While we strive for accuracy and completeness, we are not responsible for any typographical errors or inaccuracies. The data is provided “as is” without warranty of any kind. Users should verify any information before relying on it for decision-making purposes.
