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Gci top20 economy & nigeria
 

Gci top20 economy & nigeria

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Nigeria dream of becoming one of the Top20 economies by year 2020 hence the Vision 20:2020. How can this goal be achieved except the Nigeria government have a yearly growth plan. See details in this ...

Nigeria dream of becoming one of the Top20 economies by year 2020 hence the Vision 20:2020. How can this goal be achieved except the Nigeria government have a yearly growth plan. See details in this publication.

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    Gci top20 economy & nigeria Gci top20 economy & nigeria Presentation Transcript

    • Vision 20:2020:Nigeria & the Top20 MostCompetitive Economies StatiSense ® - Wale Micaiah ©
    • Vision 20:2020:Nigeria & the Top 20 Most Competitive Economies
    • Vision 20:2020 is an articulation of the long-term 20:intent to launch Nigeria onto a path of sustainedsocial and economic progress and accelerate theemergence of a truly prosperous and united Nigeria.This Vision reflects the intent of the Federal Republicof Nigeria to become one of the top twentyeconomies in the world by the year 2020, with anoverarching growth target of no less than $900 billionin GDP and a per capita income of no less than $4000per annum.This will not happen suddenly but by gradualevaluation of where we are, now, and takingprogressive and proactive measures to be better.
    • How is Nigeria economy fairing now compared to theTop 20 Global Competitive countries?In this study; The World Economic Forum, in theirGlobal Competitiveness Index (GCI) report of 2011 –2012, have identified 20 top economies with a highcompetitive index, this is used in comparison withNigeria economy GCI with the hope of findingsimilarities and disparities, so as to know where theNational Technical Working Groups (NTWGs) canconcentrate efforts to measure up in the next 8years.
    • Methodology of Study:The World Economic Forum (WEF); havingidentified some 12 Pillars as metrics to measurecountries/economies competitiveness, theaverage of each pillar for the Top20 economieswill be compared to that of Nigeria in order tofind:- How far is Nigeria from Vision20:2020- Is Vision20:2020 possible?- What is the expected growth rate to achieve Vision 20:2020- Any possible alliance with other country to quickly achieve this?
    • The 12 Pillars of GCI Institutions Infrastructure BASIC REQUIREMENTS Macroeconomic Environment Health and Primary Education Higher Education & Training Goods Market Efficiency Labor Market Efficiency EFFICIENCY Financial Market Development ENHANCERS Technological Readiness Market Size Business Sophistication INNOVATION & SOPHISTICATION Innovation FACTORS
    • The Top20 Economies are: Rank Top 20 Economies 2012* 2011 2010 2009 2008 1 Switzerland 5.74 5.63 5.6 5.61 5.62 2 Singapore 5.63 5.48 5.55 5.53 5.45 3 Sweden 5.61 5.56 5.51 5.53 5.54 4 Finland 5.47 5.37 5.43 5.5 5.49 5 United States 5.43 5.43 4.92 5.74 5.67 6 Germany 5.41 5.39 5.37 5.46 5.51 7 Netherlands 5.41 5.33 5.32 5.41 5.4 8 Denmark 5.40 5.32 5.46 5.58 5.55 9 Japan 5.40 5.37 5.37 5.38 5.43 10 United Kingdom 5.39 5.25 5.19 5.3 5.41 11 Hong Kong SAR 5.36 5.3 5.22 5.33 5.37 12 Canada 5.33 5.3 5.33 5.37 5.34 13 Taiwan, China 5.26 5.21 5.2 5.22 5.25 14 Qatar 5.24 5.1 4.95 4.83 4.63 15 Belgium 5.20 5.07 5.09 5.14 5.1 16 Norway 5.18 5.14 5.17 5.22 5.2 17 Saudi Arabia 5.17 4.95 4.75 4.72 4.55 18 France 5.14 5.13 5.13 5.22 5.18 19 Austria 5.14 5.09 5.13 5.23 5.23 20 Australia 5.11 5.11 5.15 5.2 5.17 *Every year, each country is rated on a scale of 1 – 7 using the 12 pillars
    • Pillar 1: InstitutionRank Country/Economy 2010 2011 2012 The Average Score Index of 1 Switzerland 5.85 5.77 5.78 2 Singapore 6.15 6.13 6.11 the Top20 economies is 3 Sweden 6.10 6.12 6.06 4 Finland 6.05 5.96 5.98 approximately 5.47. 5 United States 4.81 4.67 4.64 6 Germany 5.50 5.50 5.27 7 Netherlands 5.66 5.54 5.61 Nigeria with a current 3.31 8 Denmark 6.08 5.84 5.94 9 Japan 4.90 5.08 5.18 score index and 4% growth 10 United Kingdom 5.07 5.28 5.34 11 Hong Kong SAR 5.62 5.73 5.63 rate from previous year 12 13 Canada Taiwan China 5.50 4.73 5.55 4.82 5.57 4.94 would achieve a score index 14 Qatar 5.69 5.55 5.39 of 4.53 by Year 2020 which 15 Belgium 4.98 4.98 5.03 16 Norway 5.88 5.82 5.74 is far below the average 17 Saudi Arabia 4.84 5.22 5.47 18 France 4.95 5.04 5.00 score index of the Top20 – 19 Austria 5.55 5.42 5.24 assuming their economic growth 20 Australia 5.60 5.49 5.39 remain the same. Top20 Average Score 5.4755 5.4755 5.4655 111 Nigeria 3.34 3.18 3.31 In reality and by calculation; becoming one of the Top20 economies by Pillar 1: Institution is not practicable Rank – rank of each country in 2012 report 2010, 2011, 2012 represent Score index for each country on a scale of 1 – 7.
    • Pillar 2: InfrastructureRank Country/Economy 2010 2011 2012 The Average Score Index of 1 Switzerland 6.35 6.09 6.15 2 Singapore 6.35 6.22 6.33 the Top20 economies over 3 Sweden 5.82 5.76 5.74 4 Finland 5.87 5.59 5.62 3yrs is approximately 5.776. 5 United States 5.92 5.65 5.68 6 Germany 6.59 6.43 6.35 7 Netherlands 5.74 5.93 6.02 Nigeria Infrastructure is indirectly 8 Denmark 5.83 5.69 5.89 proportional to its economic 9 Japan 5.83 5.69 5.69 10 United Kingdom 5.43 5.88 6.09 status, it however grew by 9% 11 Hong Kong SAR 6.54 6.77 6.71 from 2011 to 2012 having fallen by 12 Canada 5.93 5.8 5.88 13 Taiwan China 5.6 5.63 5.62 12% the year before. 14 Qatar 4.58 5.24 5.17 15 Belgium 5.58 5.53 5.65 16 Norway 4.95 5 4.95 If a growth rate of 5% is 17 Saudi Arabia 4.63 5.07 5.31 maintained, by year 2020 Nigeria 18 France 6.52 6.24 6.3 19 Austria 5.89 5.56 5.64 would not have attained a score 20 Australia 5.19 5.44 5.43 index worth any of the Top20. This Top20 Average Score 5.757 5.7605 5.811 is however possible by year 2032 135 Nigeria 2.29 2.02 2.21 Nigeria current Infrastructure – Electricity, Communication, Transportation Systems among others – ranks 135 of 142 economies
    • Pillar 3: Macroeconomic Environment Rank Country/Economy 2010 2011 2012 The Average Score Index of 1 Switzerland 5.63 5.81 4.9 2 Singapore 5.24 5.2 5.39 the Top20 economies over 3 4 Sweden Finland 5.7 5.78 5.61 5.58 4.2 6.45 3yrs is approximately 5.34. 5 United States 4.31 4.39 4.49 6 Germany 5.28 5.32 5.34 7 Netherlands 5.21 5.29 5.62 Between 2010 and 2012, Nigeria 8 Denmark 5.71 5.56 6.28 Macroeconomic Environment 9 Japan 4.22 4.12 6.09 index has dropped by 27%. The 10 United Kingdom 4.6 4.76 5.7 11 Hong Kong SAR 5.67 5.67 5.06 current index of 3.96 is far 12 Canada 5.24 5.14 5.39 below any of the Top20 index for 13 Taiwan China 5.34 5.36 4.6 14 Qatar 5.73 5.71 4.54 year 2012, with a 5% growth 15 Belgium 4.74 4.56 5.71 rate, it is expected that Nigeria 16 Norway 5.94 5.43 6.4 17 Saudi Arabia 5.86 5.35 5.43 would measure up with at least 18 France 4.72 4.98 6.26 the 5.34 average score before 19 Austria 5.22 5.3 6.08 5.56 5.55 6.22 2020. 20 Australia Top20 Average Score 5.285 5.2345 5.5075 121 Nigeria 5.43 4.25 3.96 Of a truth, the 2010 score index is probably one of the best achievement for Nigeria, placing her at the 20th position for Pillar 3.
    • Pillar 4: Health and Primary EducationRank Country/Economy 2010 2011 2012 1 Switzerland 6.1 6.56 6.75 The Average Score Index of 6.22 6.67 6.32 2 3 Singapore Sweden 6.22 6.41 6.52 the Top20 economies over 4 Finland 6.46 6.75 6.28 3yrs is approximately 6.319. 5 United States 5.88 6.12 6.05 6 Germany 6.01 6.32 6.54 7 Netherlands 6.22 6.53 6.51 The Health index of the Nigeria 8 Denmark 6.31 6.36 6.53 9 Japan 6.13 6.52 5.78 state is less than 50% that of the 10 United Kingdom 6.07 6.4 6.51 Top20; however, there has been a 11 Hong Kong SAR 5.76 6.29 6.58 12 Canada 6.3 6.6 6.24 considerable growth of 1% from 13 Taiwan China 6.2 6.5 6.37 2010 to 2011 and 9% from 2011 14 Qatar 6.3 6.43 6.42 to 2012. With an assumed growth 15 Belgium 6.43 6.75 6.76 16 Norway 6.16 6.33 6.28 rate of 5% for subsequent years, 17 Saudi Arabia 5.37 5.64 6.27 by 2020 Nigeria will still not 18 France 6.22 6.42 6.25 19 Austria 6.14 6.41 6.35 measure up to the any of the 20 Australia 6.18 6.49 6.65 Top20. Top20 Average Score 6.134 6.425 6.398 140 Nigeria 2.96 3.00 3.28 This Pillar correlates the fact that the average Nigerian is estimated to live for about 47years ranking 140 of 142 countries.
    • Pillar 5: Higher Education & TrainingRank Country/Economy 2010 2011 2012 1 Switzerland 5.6 5.79 5.77 The Average Score Index of 5.62 5.77 5.81 2 3 Singapore Sweden 5.76 5.9 6.09 the Top20 economies over 4 Finland 5.97 6.06 5.75 3yrs is approximately 5.448. 5 United States 5.57 5.64 5.8 6 Germany 5.07 5.33 5.49 7 Netherlands 5.49 5.63 5.13 Vision 20 2020 for Pillar 5 is 8 Denmark 5.9 5.84 5.66 9 Japan 5.06 5.28 5.59 statistically not realistic. With 10 United Kingdom 5.17 5.34 4.81 the current trend of meager 11 Hong Kong SAR 4.74 4.94 5.62 12 Canada 5.5 5.66 4.62 investment in the Education 13 Taiwan China 5.43 5.63 5.47 sector, it will take Nigeria at 14 Qatar 4.93 4.84 5.73 least 2024 to achieve a score 15 Belgium 5.52 5.71 5.38 16 Norway 5.48 5.59 5.27 index worth competing with the 17 Saudi Arabia 4.29 4.55 5.75 Top20. 18 France 5.3 5.36 5.24 19 Austria 5.19 5.38 5.64 20 Australia 5.33 5.53 5.57 Top20 Average Score 5.346 5.4885 5.5095 114 Nigeria 3.03 2.99 3.18 The best of our Tertiary Institutions ranks only with other African countries with no place in the first 1000 in the world.
    • Pillar 6: Goods Market EfficiencyRank Country/Economy 2010 2011 2012 1 Switzerland 5.24 5.31 5.06 The Average Score Index of 5.77 5.65 4.89 2 3 Singapore Sweden 5.27 5.3 4.98 the Top20 economies over 4 Finland 4.98 4.92 4.69 3yrs is approximately 5.088. 5 United States 5.13 4.81 4.8 6 Germany 5.01 4.97 5.17 7 Netherlands 5.24 5.21 5.17 5.1 4.84 5.24 By 2016 – with the current 8 Denmark 9 Japan 5.06 5.06 5.25 score index and growth rate 10 United Kingdom 4.97 4.96 5.13 11 Hong Kong SAR 5.54 5.57 5.12 of 5% - Nigeria will strongly 12 Canada 5.08 5.11 5.06 compete with any of the 13 Taiwan China 5.1 5.09 4.56 14 Qatar 4.96 5.1 4.97 Top20. 15 Belgium 5.11 5.08 4.89 16 Norway 4.95 4.95 5.04 17 Saudi Arabia 4.79 5.11 4.79 18 France 4.86 4.69 5.41 19 Austria 5.14 5 5.21 20 Australia 5.2 5.02 5.57 Top20 Average Score 5.1305 5.0985 5.0335 73 Nigeria 4.24 3.97 4.18 This appears to be one of the Pillars that Nigeria would not have to wait till 2020 to realize her dreams
    • Pillar 7: Labor Market EfficiencyRank Country/Economy 2010 2011 2012 1 Switzerland 5.78 5.13 5.86 2 Singapore 5.91 4.75 4.82 The Average Score Index of Sweden 4.91 4.64 4.94 3 4 Finland 4.85 5.42 5.39 the Top20 economies over 5 United States 5.76 5.47 5.95 3yrs is approximately 5.069. 6 Germany 4.33 4.85 4.89 7 Netherlands 4.81 4.47 5.67 8 Denmark 5.53 4.4 4.84 The Labour Market Efficiency 9 Japan 5.1 5.82 5.43 10 United Kingdom 5.22 5.08 4.57 score index of Nigeria will be 11 Hong Kong SAR 5.59 4.83 5.04 ranked among the Top20 before 12 Canada 5.4 4.97 4.86 year 2016 if the current growth 13 Taiwan China 4.85 5.03 5.36 14 Qatar 5.04 4.42 4.41 rate is sustained or improved 15 Belgium 4.66 5.92 4.76 upon. 16 Norway 4.99 4.89 5.04 17 Saudi Arabia 4.33 5.92 4.61 18 France 4.39 4.74 4.38 19 Austria 4.71 5.29 4.71 20 Australia 5.2 5.63 5.57 Top20 Average Score 5.068 5.0835 5.055 70 Nigeria 4.24 3.97 4.18
    • Pillar 8: Financial Market DevelopmentRank Country/Economy 2010 2011 2012 1 Switzerland 5.15 5.34 4.76 The Average Score Index of 5.91 5.76 4.64 2 3 Singapore Sweden 5.17 5.15 4.64 the Top20 economies over 4 Finland 5.33 5.38 5.46 3yrs is approximately 5.054. 5 United States 4.96 4.67 4.87 6 Germany 4.68 4.62 4.86 7 Netherlands 4.9 5.31 4.71 4.94 5.38 5.35 There is a downward trend 8 Denmark 9 Japan 4.65 4.61 5.06 of -9% and -3% rate from 10 United Kingdom 4.87 4.73 4.84 11 Hong Kong SAR 5.95 5.85 5.2 2010 to 2011 and 2011 to 12 Canada 5.25 5.16 5.01 2012 respectively. 13 Taiwan China 4.4 4.63 5 14 Qatar 4.69 4.91 4.94 15 Belgium 4.86 4.64 5.34 If there is an upturn of this 16 Norway 5.29 5.35 4.96 17 Saudi Arabia 4.44 4.83 4.54 downward trend with an 18 France 4.95 4.96 5.78 assumed 5% growth rate, Vision 19 Austria 4.85 4.74 5.24 20 Australia 5.51 5.45 5.84 20 2020 for pillar 8 is still a Top20 Average Score 5.056 5.0215 5.0855 possibility. 86 Nigeria 4.37 3.99 3.89
    • Pillar 9: Technological ReadinessRank Country/Economy 2010 2011 2012 1 Switzerland 5.24 5.31 5.06 The Average Score Index of 5.77 5.65 4.89 2 3 Singapore Sweden 5.27 5.3 4.98 the Top20 economies over 4 Finland 4.98 4.92 4.69 3yrs is approximately 5.476. 5 United States 5.13 4.81 4.8 6 Germany 5.01 4.97 5.17 7 Netherlands 5.24 5.17 4.84 Technological readiness of an 8 Denmark 5.21 5.1 5.24 9 Japan 5.06 5.06 5.25 economy is greatly dependent 10 United Kingdom 4.97 4.96 5.13 upon solid infrastructural 11 Hong Kong SAR 5.54 5.57 5.12 12 Canada 5.08 5.11 5.06 development; Nigeria ranks 135 13 Taiwan China 5.1 5.09 4.56 of 142 in 2012 GCI for 14 Qatar 4.96 5.1 4.97 Infrastructure, little wonder the 15 Belgium 5.11 5.08 4.89 16 Norway 4.95 4.95 5.04 Technological readiness of its 17 Saudi Arabia 4.79 5.11 4.79 economy is at a very low ebb. 18 France 4.86 4.69 5.41 19 Austria 5.14 5 5.21 20 Australia 5.2 5.02 5.57 With 5% growth rate; 2024 is Top20 Average Score 5.1305 5.0985 5.0335 expected to be one of the 106 Nigeria 2.91 3.04 3.08 Top20.
    • Pillar 10: Market SizeRank Country/Economy 2010 2011 2012 1 Switzerland 4.56 5.12 4.56 The Average Score Index of 4.53 4.59 4.59 2 3 Singapore Sweden 4.63 4.77 4.15 the Top20 economies over 4 Finland 4.23 5.46 4.21 3yrs is approximately 5.035. 5 United States 6.93 4.25 4.51 6 Germany 6.02 4.15 4.3 7 Netherlands 5.12 5.76 4.76 Nigeria is the 7th largest Nation in 8 Denmark 4.32 6.01 5.1 9 Japan 6.17 4.74 5.44 terms of population but not 10 United Kingdom 5.82 6.11 4.92 economy. This Pillar is currently 11 Hong Kong SAR 4.73 5.1 5.1 12 Canada 5.47 4.34 3.86 Nigeria’s most competitive 13 Taiwan China 5.16 3.75 5.77 advantage, however a larger 14 Qatar 3.61 4.97 6 percentage of the populace are 15 Belgium 4.83 4.51 4.58 16 Norway 4.35 4.58 6.12 not benefiting from this 17 Saudi Arabia 4.88 4.54 4.78 advantage due to inherent 18 France 5.78 5.15 5.74 19 Austria 4.62 5.8 5.21 challenge in basic development at 20 Australia 5.1 6.93 6.92 the grass root and national level. Top20 Average Score 5.043 5.0315 5.031 34 Nigeria 4.49 4.65 4.59 With 5% economic growth rate; by 2015 Nigeria will rank among Top20 economies
    • Pillar 11: Business SophisticationRank Country/Economy 2010 2011 2012 1 Switzerland 5.81 5.81 5.3 The Average Score Index of 5.2 5.1 5.46 2 3 Singapore Sweden 5.66 5.88 5.91 the Top20 economies over 4 Finland 5.4 5.29 5.04 3yrs is approximately 5.323. 5 United States 5.65 5.4 5.35 6 Germany 5.82 5.82 5.58 7 Netherlands 5.54 5.51 5.55 5.41 4.67 5.82 The indexes for Business 8 Denmark 9 Japan 5.89 5.92 5.11 Sophistication is quite 10 United Kingdom 5.24 5.32 5.23 11 Hong Kong SAR 5.19 5.01 4.91 encouraging; this goal is 12 Canada 5.12 5.03 5.53 realizable by 2019 if 5% 13 Taiwan China 5.22 5.17 5.14 14 Qatar 4.55 4.85 5.41 growth rate could be 15 Belgium 5.28 5.24 5.4 16 Norway 5.12 5.17 5.27 achieved in subsequent 17 Saudi Arabia 4.61 4.91 5.66 years. 18 France 5.3 5.18 4.99 19 Austria 5.54 5.46 5.83 20 Australia 4.79 4.67 5.13 Top20 Average Score 5.322 5.3095 5.337 64 Nigeria 4 3.79 3.96
    • Pillar 12: InnovationRank Country/Economy 2010 2011 2012 1 Switzerland 5.56 5.6 4.83 The Average Score Index of 5.09 5.04 4.79 2 3 Singapore Sweden 5.39 5.45 5.59 the Top20 economies over 4 Finland 5.53 5.56 4.53 3yrs is approximately 4.900. 5 United States 5.77 5.65 5.57 6 Germany 5.11 5.19 5.03 7 Netherlands 4.79 4.77 4.48 The innovative ability of 8 Denmark 5.04 4.89 5.77 9 Japan 5.51 5.52 4.16 Nigeria according to the 10 United Kingdom 4.6 4.65 5.27 current score index is about 11 Hong Kong SAR 3.86 3.91 5.07 12 Canada 4.8 4.87 5.1 60% of the average Score index 13 Taiwan China 5.28 5.29 4.72 of the Top20 economies. 14 Qatar 3.65 4.11 4.94 15 Belgium 4.62 4.59 5.72 16 Norway 4.53 4.49 4.69 The least innovative country 17 Saudi Arabia 3.7 3.92 5.39 18 France 4.5 4.48 4.18 being Japan and the most is 19 Austria 4.46 4.48 5.76 Denmark 20 Australia 4.43 4.41 5.33 Top20 Average Score 4.811 4.8435 5.046 82 Nigeria 3.06 2.87 3.01
    • Current Growth Trend of the Top20 Economies Macroeconomi c Environment Goods Market Sophistication Infrastructure Labor Market Technological Development Education &% Growth from Market Size Institutions Health and Innovation Readiness Education Efficiency Efficiency Financial Business Training2011 - 2012 Primary Market HigherCountry/EconomySwitzerland 0.17% 0.99% 8.09% -0.46% 0.17% -1.32% 0.51% 0.19% 12.50% -0.66% 0.17% 3.04%Singapore -0.33% 1.77% 19.62% -0.30% 0.00% -1.42% -1.01% 1.39% 10.28% 1.11% 0.59% 5.75%Sweden -0.98% -0.35% 8.38% -0.94% -1.53% -1.70% -1.43% 1.75% 2.78% 0.22% -0.85% 5.69%Finland 0.34% 0.54% 2.33% 0.15% 0.50% -0.61% 1.86% -0.74% 11.22% 0.00% 2.08% 2.88%United States -0.64% 0.53% 2.28% -1.14% -1.24% -0.21% -1.07% 4.28% 2.55% -0.14% -0.93% -1.42%Germany -4.18% -1.24% 2.07% -0.79% 7.50% -3.62% 0.23% -1.73% 4.66% -0.17% -2.75% 3.85%Netherlands 1.26% 1.52% 0.95% 0.15% 0.53% 0.00% 0.21% 3.18% 2.34% 0.00% 0.54% 5.45%Denmark 1.71% 3.51% -3.06% -1.89% -1.54% -0.78% -1.46% 1.42% 10.32% -0.94% 2.22% 4.29%Japan 1.97% 0.00% 1.94% 0.00% -0.19% -1.58% -0.79% 0.65% 3.90% 0.16% -0.17% 1.27%United Kingdom 1.14% 3.57% -4.62% 0.31% 2.43% 0.20% 1.32% 4.44% 8.96% -0.52% 1.69% 6.24%Hong Kong SAR -1.75% -0.89% 10.41% -0.64% 3.85% -2.87% -2.58% -1.20% 2.52% 0.42% -0.40% 6.91%Canada 0.36% 1.38% -1.56% -0.30% -1.24% 0.20% 0.18% 0.78% 5.06% -0.37% -2.39% 4.11%Taiwan China 2.49% -0.18% 6.34% 0.15% 0.18% 0.79% -0.63% 4.54% 0.79% 1.17% 1.16% -0.38%Qatar -2.88% -1.34% 12.08% -2.33% -4.55% -1.18% -3.38% 1.02% 6.76% 2.93% 8.66% 14.11%Belgium 1.00% 2.17% 7.46% 0.00% 0.70% -0.39% -0.65% 2.59% 11.11% 0.21% 1.15% 5.23%Norway -1.37% -1.00% 18.78% -0.79% -1.79% -5.25% -1.61% 2.06% 9.35% -0.92% -2.51% 0.89%Saudi Arabia 4.79% 4.73% 13.83% 2.48% 5.71% 2.74% 3.39% 4.76% 3.84% -1.01% 4.07% 6.12%France -0.79% 0.96% -7.63% -0.78% -2.24% -2.77% -2.01% 0.81% 6.63% -0.35% -0.77% 5.36%Austria -3.32% 1.44% 1.70% -1.40% 0.00% -2.20% 0.21% -2.11% 6.09% -0.22% 0.00% 6.92%Australia -1.82% -0.18% 1.26% 0.31% 1.63% -3.59% -1.75% -1.28% 2.82% -0.39% 0.00% 1.59% Nigeria 4.09% 9.41% -6.82% 9.33% 6.35% 5.29% 0.23% -2.51% 1.32% -1.29% 4.49% 4.88% From above, the lower score indexes have higher probability of achieving at least a 2.5% growth rate. This gives Nigeria the possibility of achieving her Vision 20:2020 goals if she can achieve more than 5% yearly growth rate per Pillar.
    • Alliances The countries with most probable alliance are Saudi Arabia and Qatar. Saudi Arabia achieved positive growth in 10 of the 12 Pillars while Qatar achieved 5. On the other hand, Nigeria could partner with individual country based on their area of competitive advantage; Singapore & Norway for growth in her Macroeconomic Environment, Belgium & Finland for Technologies Readiness, Saudi Arabia & Australia/UK for Health and Primary Education, etc. – pg20. All countries except Taiwan, China have appreciable growth in Technological Readiness
    • Catching up with the Top20 Economies No. Pillar @5% @4% @3% @2% @1% 1 Institutions 2023 2025 2029 2037 2062 2 Infrastructure 2031 2036 2044 2059 2100 3 Macroeconomic Environment |--------------------Already achieved--------------------| 4 Health and Primary Education 2027 2031 2037 2049 2086 5 Higher Education & Training 2024 2027 2032 2041 2069 6 Goods Market Efficiency 2016 2017 2019 2022 2032 7 Labor Market Efficiency 2015 2016 2017 2019 2026 8 Financial Market Development 2015 2016 2017 2020 2027 9 Technological Readiness 2026 2029 2034 2045 2077 10 Market Size 2015 2015 2016 2018 2032 11 Business Sophistication 2018 2020 2022 2027 2041 12 Innovation 2022 2024 2028 2035 2058For instance; In subsequent years, if Nigeria experience a 5% growth rate inPillar 2: Institution, by 2023 Nigeria will be ranked among the Top20economies.Similarly; at 5% growth rate, Nigeria would only rank among Top20 economies inMacroeconomic Environment, Goods Market Efficiency, Labor Market Efficiency,Financial Market Development, Market Size and Business Sophistication by 2020.
    • Data source:- The World Economic Forum https://www.weforum.org/- WEF_GlobalCompetitivenessReport_2011 – 2012- WEF_GlobalCompetitivenessReport_2010-11- WEF_GlobalCompetitivenessReport_2009-2010fullreport- Nigeria Vision 20:2020, Economic Transformation BlueprintFreely share, freely use and freely acknowledge the source – © Wale Micaiah Analysis by: Wale Micaiah e: walegate@yahoo.com m: 08078001800 b: walemicaiah.blog.com w. www.statisense.info StatiSense ® - Wale Micaiah ©