L
LequteMan
Guest
The authoritative Economic Freedom of the World (EFW) 2014 Annual Report has ranked Nigeria 125 out of 152 countries, Business Day reports.
The Economic Freedom Index is a measure of the degree of economic freedom in five broad areas: Size of Government: Expenditures, Taxes, and Enterprises; Legal Structure and Security of Property Rights; Access to Sound Money; Freedom to Trade Internationally; Regulation of Credit, Labour, and Business.
Based on 2012 statistics (the most recent year of available data), Nigeria received a rating of 6.2 and was ranked 96th based on the size of its government, according to the report.
On legal system and property rights in the country, Nigeria was rated 3.4 and ranked 139th.
On the area of Sound money, Nigeria was ranked 106th with a rating of 7.5. Freedom to trade internationally saw Nigeria ranked 105 with a rating of 6.7 while receiving a rating of 7.2 (ranked 67) in the area of regulations.
In the area of credit market regulations, Nigeria ranked 17th (rated 9.8), while in the area of Labour market regulations, Nigeria ranked 31st (rating of 7.9).
However, Nigeria ranked 149th with a poor rating of 4.0 in the area of Business Regulations.
The EFW index now ranks 152 countries and territories. Data are available for approximately 100 nations and territories back to 1980, and many back to 1970.
#Nigeria
The Economic Freedom Index is a measure of the degree of economic freedom in five broad areas: Size of Government: Expenditures, Taxes, and Enterprises; Legal Structure and Security of Property Rights; Access to Sound Money; Freedom to Trade Internationally; Regulation of Credit, Labour, and Business.
Based on 2012 statistics (the most recent year of available data), Nigeria received a rating of 6.2 and was ranked 96th based on the size of its government, according to the report.
On legal system and property rights in the country, Nigeria was rated 3.4 and ranked 139th.
On the area of Sound money, Nigeria was ranked 106th with a rating of 7.5. Freedom to trade internationally saw Nigeria ranked 105 with a rating of 6.7 while receiving a rating of 7.2 (ranked 67) in the area of regulations.
In the area of credit market regulations, Nigeria ranked 17th (rated 9.8), while in the area of Labour market regulations, Nigeria ranked 31st (rating of 7.9).
However, Nigeria ranked 149th with a poor rating of 4.0 in the area of Business Regulations.
The EFW index now ranks 152 countries and territories. Data are available for approximately 100 nations and territories back to 1980, and many back to 1970.
#Nigeria
