Driver Overview
This section shows a country’s rank, ranking change and score for each of the eight drivers. It also categorises each country’s driver performance on a scale from “Emerging” (score from 0-20) to “Global Leader” (score from 80-100).
Rank
Score /100
Best practice
Metric Overview
Strengths
Time required to start a business
According to the World Bank, it takes seven days to start a business in Nigeria, which is significantly faster than the Lower Middle Income Countries average of 20.4 days. Shorter times can ease businesses entry into a market, including for new infrastructure entities.
Financial stability
Nigeria’s financial stability is slightly below the average of 83 for the Lower Middle Income Countries. Stable financial markets facilitate the smooth flow of funds between infrastructure assets and investors. The impact of the COVID-19 pandemic is a concern.
Gross government debt
Nigeria’s gross government debt amounts to 29% of GDP, lower than the Lower Middle Income Countries’ average of 54%. The COVID-19 pandemic, and recent developments in the oil market, may increase debt levels, but Nigeria is currently in a better fiscal position to fund infrastructure than its peers.
Top Performing Metrics
Top Performing Metrics
This is defined by the metrics with the highest unweighted score out of 100.
Permits:
Time required to start a business
Financial markets:
Financial stability
Funding capacity:
Gross government debt
Opportunities to Grow
Stocks traded
At 0.6% of GDP, Nigeria’s value of stocks traded is significantly below the Lower Middle Income Countries’ average of 14% of GDP. As this indicator measures the liquidity of equities, it is important to infrastructure investors to know they can exit investments at appropriate points.
Registering property
It takes 105 days to register a property in Nigeria, compared to an average of 63 days among Lower Middle Income Countries. As infrastructure projects often involve property rights, the longer the time to register properties, the more costly and risky the project.
GDP per capita
Nigeria has a low GDP per capita of USD 2,222 but is growing at a long-term average rate of 4.4% per annum. High growth, should it not be overly impacted by COVID-19, can be expected to correlate with greater infrastructure spending.
Metrics to Improve
Metrics to Improve
This is defined by the metrics with the lowest weighted score out of 100, such that these metrics would have the greatest impact on the overall score.
For metrics that have binary outcomes (yes=100/no=0), no comparative income group average is reported.
Financial markets:
Stocks traded
Permits:
Registering property
Funding capacity:
GDP per capita
Detailed Data
This section shows country data for each of the 41 metrics. The figures in brackets denote the change in score since InfraCompass 2017.
Note that all data has been normalised on a scale of 1-100. For raw metric data, please download the complete InfraCompass 2020 dataset.
Where relevant, some metric scores have been inverted, such that all metrics have positive relationships with good infrastructure outcomes. For example, since lower compliance costs make it easier to invest in infrastructure, the normalised value of ‘number of procedures to start a business’ has been reversed such that lower number of procedures are scored closer to 100, and higher numbers closer to 0. In other words, a score of 0 indicates a poor performance, rather than 0 number of procedures.
28.2%
The recovery rate is recorded as cents on the dollar recovered by secured creditors through reorganisation, liquidation or debt enforcement (foreclosure or receivership) proceedings.
20.7%
World Governance Composite Indicator reflecting perceptions of the extent to which agents have confidence in and abide by the rules of society, and in particular the quality of contract enforcement, property rights, the police, and the courts, as well as the likelihood of crime and violence. The rule of law reflects whether the law imposes limits of power on the state, private sector and individuals.
18.1%
Whether the country conducts post-completion reviews on infrastructure projects to ensure the forecast outcomes are being achieved.
15.1%
Measures the governance practices that protect shareholders through three dimensions: the extent of shareholder rights index (shareholders’ rights and role in major corporate decisions), the extent of ownership and control index (governance safeguards protecting shareholders from undue board control and entrenchment), and the extent of corporate transparency index (corporate transparency on ownership stakes).
12.8%
Political stability and absence of violence score
Measures perceptions of the likelihood of political instability and/or politically-motivated violence, including terrorism. Estimate gives the country's score on the aggregate indicator, in units of a standard normal distribution i.e. ranging from approximately -2.5 to 2.5.
5%
Whether an infrastructure agency exists to coordinate an integrated approach to infrastructure delivery and policy.
Nigeria
Lower-middle Income Countries Average
Description
The recovery rate is recorded as cents on the dollar recovered by secured creditors through reorganisation, liquidation or debt enforcement (foreclosure or receivership) proceedings.
Weighting (% of Driver)
28.2%
Source Link
Description
World Governance Composite Indicator reflecting perceptions of the extent to which agents have confidence in and abide by the rules of society, and in particular the quality of contract enforcement, property rights, the police, and the courts, as well as the likelihood of crime and violence. The rule of law reflects whether the law imposes limits of power on the state, private sector and individuals.
Weighting (% of Driver)
20.7%
Description
Whether the country conducts post-completion reviews on infrastructure projects to ensure the forecast outcomes are being achieved.
Weighting (% of Driver)
18.1%
Source Link
Description
Measures the governance practices that protect shareholders through three dimensions: the extent of shareholder rights index (shareholders’ rights and role in major corporate decisions), the extent of ownership and control index (governance safeguards protecting shareholders from undue board control and entrenchment), and the extent of corporate transparency index (corporate transparency on ownership stakes).
Weighting (% of Driver)
15.1%
Source Link
Description
Measures perceptions of the likelihood of political instability and/or politically-motivated violence, including terrorism. Estimate gives the country's score on the aggregate indicator, in units of a standard normal distribution i.e. ranging from approximately -2.5 to 2.5.
Weighting (% of Driver)
12.8%
Description
Whether an infrastructure agency exists to coordinate an integrated approach to infrastructure delivery and policy.
Weighting (% of Driver)
5%
Source Link
Country Overview Data
2,089 USD
Population211.4 million persons
39.7 (0-100 best)
Infrastructure investment4.0% of GDP
Infrastructure gap1.2% of GDP
446.5 USD billion
GDP growth rate2.3%
GDP per capita growth rate9.3%
Gini coefficient43.0 (0-100 worst)
Gross Government Debt30.0% of GDP
Inflation rate11.3%
Summary credit rating31.0 (0-100 best)
Unemployment rate6.1%
Urbanisation ratio50.0% of total population
Road connectivity77.5 (0-100 best)
2.5 (1-7 best)
Efficiency of train services1.8 (1-7 best)
Efficiency of air transport services3.4 (1-7 best)
Efficiency of seaport services2.5 (1-7 best)
Electricity access59.8% of population
Electricity supply quality15.0% of output lost
Exposure to unsafe drinking water75.6% of population
Reliability of water supply2.1 (1-7 best)
Digital Adoption Index0.4 (0-1 best)
Mobile-broadband subscriptions30.7 per 100 population
Fixed-broadband Internet subscriptions0.0 per 100 population