The presidential candidate of the Allied Congress Party of Nigeria (ACPP), Oby Ezekwesili, has said that Nigeria must do better in global competitiveness ranking.
Ezekwesili stated this on Saturday, October 20, 2018 while reacting to the recently released global competitiveness report which ranked Nigeria 115 out of 140 profiled countries.
According to the former vice-president of the World Bank for Africa, Nigeria’s move from its previous position of 125 was a positive development.
She noted that a lot needs to be done in making Nigeria’s socio-economic environment more globally competitive. According to her:
“Moving 10 places on the Index is positive news for the country, but I must say that Nigeria has no business being in the lower rungs of the ladder as regards global competitiveness. With the right policies, resources at our disposal, and especially commitment from government, we can take a giant leap up the index and create a better life for majority of our citizens.
“We will move higher on the index if the macroeconomic outlook, critical non-oil sectors, and institutions are strengthened so as to bring about the desired competitive advantage the country inherently possesses.
“Our macroeconomic outlook is currently in a crisis with multiple exchange rate regimes, fixed interest rate and cyclical inflation rate over the years – that has all had negative effects on the financial market and led to little or no investor confidence”.