While there are some improvements in Nigeria’s performance compared to 2018, further steps must be taken to build on the work done. Particular attention should be given to strengthening the respect for property rights in the country.
The risk areas unpredictable policy and regulatory change and breach of State obligations are on the same level as last year, while discrimination between foreign and domestic investors has reduced by a point.
Nigeria’s performance against EIRA’s four indicators is moderate. It has received a score of 59 on the indicator management of decision-making processes and 58 on rule of law. On foresight of policy and regulatory change its performance has improved by 1 point and now stands at 55. The score for regulatory environment and investment conditions has also moved up from 51 to 53 points.
On a more detailed level, Nigeria’s overall sub-indicator performance is moderate. The highest-scoring sub-indicator is once again management and settlement of investor-State disputes with 73 points. The performance on communication of vision and policies has improved by 4 points and it now stands at 65. The score for transparency has also gone up from 61 to 63. The next sub-indicator is regulatory effectiveness, which has moved from 56 to 57 points. On institutional governance, it has the same score as last year (56), while restrictions on FDI is now at 50 instead of 47. The score on robustness of policy goals and commitments remains 46. The lowest performance was again observed on the sub-indicator respect for property rights, which has 42 points.