Out of 161 countries ranked by Forbes, Nigeria with an approximately and estimated population of 203 million has been ranked 110th best country for business, 11th in Africa with south Africa(a population of 55million) being the 1st in Africa and 59th in all.
Method of survey
According to Forbes, we gauged the Best Countries for Business by rating nations on 15 different factors, including property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape and investor protection. Other metrics included were workforce, infrastructure, market size, quality of life and risk. Each category was equally weighted.
This means that Uganda and Burundi is ranked higher than Nigeria. We were once the giant of Africa. Oh! how the mighty have fallen..
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