Forbes ranks Nigeria 110th best country for business

Nigeria has been rated the 110 th best country for business in the world in 2019 , out of 161 graded countries .

Top on the list are United Kingdom ( 1 ), Sweden ( 2 ) , Hong Kong (3 ) , Netherlands (4 ) , New Zealand ( 5 ) and Canada (6 ) .

The United States of America is rated 17 th , below Ireland and Finland.

South Africa , according to the list released by Forbes, came first in Africa .

With a population of 203 million people, a GDP growth of 0 . 8 per cent and GDP per capital of $ 2 , 000 , Nigeria is ranked 14 th in Africa .

The rating puts Nigeria behind South Africa (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 ).

Giving the criteria for the rating , Forbes said , “ 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.

“ The data is based on published reports from Freedom House, Heritage Foundation, Property Rights Alliance , United Nations , Transparency International , World Bank Group , Marsh & McLennan and World Economic Forum . ”

Nigeria rated 115 out of 153 assessed countries the previous year , with a GDP growth of - 1 . 6 per cent and GDP per capital given as $ 2 , 200 .

The country was 15 th in Africa during the period .