The Global Innovation Index (GII) ranks world economies based on innovative capabilities, using about 80 indicators. Nigeria ranks 114th among the 132 economies featured in the GII 2022.
As Nigeria turns 62, its rank on the global innovation scale gives an insight into its present and future. A glance is also thrown behind to calculate past growth. 117th in 2020 and 118th in 2021, the most recent rank shows improvement. However, a look into the detailed report reveals a disheartening tale about a country with great potential.
Aside from the 114th position, there are other things the Global Innovation Index 2022 reveals about Nigeria’s relationship with innovation.
The Global Innovation Index 2022 and a Tale of Nigeria Among Its Peers
Compared to other countries, below are the rankings of Nigeria as it pertains to innovation:
- Nigeria ranks 29th among the 36 lower-middle-income group economies. For perspective, Kenya, Ghana, and Rwanda are in this group. Ghana ranks 16th and Kenya 13th. Rwanda ranks 1st. The lower-middle-income economies are those with Gross National Income (GNI) per capita of between $1,036 and $4,045. Rwanda ranks 1st.
- Nigeria ranks 13th among the 27 economies in Sub-Saharan Africa. In this class, Ghana ranks 5th, Rwanda ranks 9th, Kenya ranks 4th, and South Africa and Mauritius rank 2nd and 1st, respectively.
- Nigeria’s innovation performance is below expectations for its development level. Charting the relationship between innovation and development, the graph line reveals that, relative to GDP, Nigeria was not doing well.
- Nigeria produces more innovation outputs relative to its level of innovation investments. A drawn chart revealed Nigeria as one of the economies translating innovation investments into quality outputs.
- Nigeria’s performance compared to the lower-middle-income group economies. Nigeria performs above average in business sophistication.
- Nigeria’s performance compared to other countries in Sub-Saharan Africa. Nigeria performs above average in human capital and research; business sophistication; and creative outputs.
- Nigeria’s best and worst performances in the seven GII pillar ranks. The ranks are business sophistication, creative outputs, human capital and research, infrastructure, institutions, global innovation index, knowledge and technology outputs, and market sophistication. Nigeria performed its best in business sophistication with a ranking of 69, and its weakest performance, however, is in market sophistication, where it ranks 126. The highest possible ranking in each pillar is 1.
The Other Part of Nigeria’s Innovation Story
The Global Innovation Index also shows the following standalone facts about Nigeria:
- Nigeria’s innovation strengths and weaknesses. Of the ten listed innovation strengths, the cost of redundancy dismissal is the top, and it ranks 1st. On the other hand, the list of innovation weaknesses sees political and operational stability at the top. In this indicator, it ranks 126th.
- Nigeria has a bad case of data mismanagement. 19 indicators, including high-tech manufacturing, were missing. Eight other indicators, including electricity output, were outdated. In an age where data is considered the new oil, a country of over 200 million people is missing out on a lot through negligence.
- Nigeria’s innovation top performers. Of the four indicators listed, global corporate research and development investors and the QS university ranking had no observations. However, for intangible asset intensity, with MTN Nigeria, Dangote’s Cement, and BUA Cement, Nigeria ranked top 15. Also, for global brand value, Access Bank, Dangote Cement, and Zenith Bank, Nigeria ranked in the top 5,000.
- Some unscaled indicator data plots paint a picture of Nigeria’s innovation system. For the innovation inputs, the Quacquarelli Symonds (QS) university ranking and the ICT access, venture capital, and knowledge-intensive employment ranks were noted. The innovation outputs included ranks of patients by origin, citable document H-index, intellectual property receipts, production and export complexity, high-tech exports, intangible asset intensity, and global brand value. While innovation inputs are related to a favourable innovation environment, innovation outputs are the result of innovation activities in the economy. Together, they tell a story about the economy’s innovation system.
Conclusion
Driving economic development is largely dependent on innovation and creativity. With the present innovation ranking and analysis revealed by the Global Innovation Index 2022, it is evident why the economy is in its dire state.
At 62, Nigeria is only the giant of Africa in population and economy, not in worth and innovation. The story can change if all hands are on deck, both from the private and public sectors. Armed with this report, we know the pain points and can start the change. For the complete GII 2922 report on Nigeria, go here.
