Journal of Economics and Development Studies

Nigeria in Global Competitiveness Comparison
Olumuyiwa Olamade

Abstract
This paper examines the competitiveness of Nigeria as a resource-driven economy relative to four selected emerging market economies in Africa and Asia that has witnessed transition from the basic level of economic development. The central objective of the paper is to comparatively determine the strengths and weaknesses impacting Nigeria’s competitiveness at each stages of economic development, using the Global Competitiveness Report’s three stages of development and the competitiveness pillars characteristics of each stage as the basis of analysis. While Nigeria remain a resource-driven economy, its performance in the efficiency enhancers, and the more complex innovation and sophistication factors were found to be good for an efficiency-driven economy. Nigeria’s abysmally low and deteriorating performance in the basic requirements remain its strongest challenge for competitiveness and long term growth.

Full Text: PDF     DOI: 10.15640/jeds.v3n1a15