NIGERIA- Wednesday April 28, 2021: A report issued by the Chandler Good Government Index (CGGI) has ranked Nigeria as the third worst governed country in the world.
The report, which was launched in Singapore on Monday, ranked the country low in governance, leadership and foresight, scoring the country 102 out of 104 countries with a score of 0.319 points, ahead of Zimbabwe and Venezuela.
It explained that the ability to handle corruption properly is the strongest indicator of good governance.
The index uses 34 indicators, which are organised into seven pillars: leadership and foresight; robust laws and policies; strong institutions; financial stewardship; attractive marketplace; global influence and reputation; and helping people rise.
The report, which was the first in the series, scored Nigeria 0.44 on leadership and foresight; anti-corruption 0.45; long-term vision 0.47; strategic prioritization 0.41 and innovation 0.4.
The report also ranked Nigeria low in other parameters, scoring the nation 98 in leadership and foresight; 85 in robust laws and policies; 101 in strong institutions; 88 in financial stewardship; 97 in attractive marketplace; 72 in global influence and reputation and helping people rise 98.
It taps over 50 publicly available global data sources such as the World Trade Organisation, United Nations and World Bank.
Finland came tops with 0.848 points ahead of Switzerland and Singapore, while Zimbabwe was Nigeria’s runner up followed by Venezuela at the bottom of the log.
Mauritius, with an Index score of 0.5670 and at number 38 on the log, was Africa’s best performer.
The report noted that countries that have done well under this pillar are all market economies with sound property rights and stable business regulations.
The CGGI further explained that the ranking came during the COVID-19 pandemic, which has revealed strengths and weaknesses in institutions, laws, and leadership, adding that governance is the deciding factor in whether countries succeed.
The report stated, “Good governance begins with good leadership. The culture of government leadership varies from country to country, but the CGGI’s highest-performing governments are united in three ways: a commitment to integrity, a strong vision and plan for their nation’s future, and the ability to make the most of their available resources.”