The Legatum Research Institute, London, has placed Nigeria on 125th position out of 142 countries worldwide based on its 2014 Prosperity Index (PI) ranking just released.
Nigeria occupied 89th position in the 2009 PI annual ranking.
The ranking, which represents a fall by 22 place among the countries under analysis, portrayed deteriorating living conditions and declining living standards. In 2010, Nigeria was placed 106.
The disclosure which was contained in the 2014 annual ranking of countries based on certain standard of living indices, placed Norway on top of the list followed by Switzerland and New Zealand in third position.
While the United States of America (USA) and United Kingdom occupied the 10th and 13th position, no African country was classified under the list of 20 countries.
Speaking with THISDAY on Sunday in Abuja on the significance of the countries to review their economic policies for development, the Executive Director, African Policy Research Initiative (APRI) Ambassador Sunday Thomas Dogonyaro, said the analysis gave a background of living standard of countries around the world.
On the relevance of the data for national development, he said: “We track international these reports very carefully and see what is happening and the statistics that they churn out which we use as part of our own study to build into the work that we also do because it helps to give us the picture of the continent in terms of what is happening.”
“For example, when the board met last week, we shared the report from the Legatum Institute, London on their Prosperity Index. Nigeria for example slipped 22 places in four years. That is from 103 in 2011 and in 2014, Nigeria was ranked 125, from amongst 142 countries.”
Speaking further, Dogonyaro stressed that in areas of electricity and security for example, the country didn’t do well, adding that shows that something is wrong
According to him, if in a period of five years, you are slipping consistently, “For me, irrespective, of what you are doing, it tells me that you still need to check certain economic fundamentals,” Dogonyaro said.
He said: “That means that certain things are not being done properly and so those kind of things help in terms of the interface that we are talking about because of the level of communication that makes things a lot easier to interface and share information rather than work alone. At this stage, you don’t need to re-invent the wheel as we keep in touch with each other to do our researches and investigations.”
While admitting the need for synergy among research institutes, said APRI is fine-tuning a collaborative exchange with other research institutes across the globe.
“The other phase where we are trying to get to is getting to the phase where we can now do exchange with these off-shore institutes.
“Where some of our staff can go and spend some months and they too can come also into Nigeria if they need any specific aspects of our research materials and in that way synergies are built and