by Stanley Azuakola
The Wall Street Journal and the Heritage Foundation have released the 2013 Index of Economic Freedom, and it’s not very good news for Nigeria.
The country ranked 120 of 177 countries in the index.
Nigeria was grouped under mostly un-free countries after slipping by -1.2.
According to the Index, “The Sub-Saharan Africa’s overall level of economic freedom remains weaker than that of any other.” Most of the countries in Africa fell under “mostly un-free” or “repressed” categories.
According to the table, 15 of the world’s 33 “repressed” economies are in Sub-Saharan Africa and 22 in the next lowest, “mostly un-free” category.
Sub-Saharan Africa had continued to lag far behind the five other regions of the world in overall economic freedom, it noted.
A statement by the editors on Monday said, “It is the last in seven of 10 measures of economic freedom and collectively scores about 13 points behind average world scores in business freedom and more than 10 points behind in property rights and freedom from corruption.”