Nigeria ranks 26th most prosperous country on the Legatum Africa prosperity index.See details.

The 2016 Africa Prosperity Report shows that decades of economic growth across the continent has failed to deliver greater levels of prosperity for many African countries.

Background

The Africa Prosperity Report seeks to determine what level of prosperity African countries can and should be expected to deliver given their level of wealth. This is done by assessing a country's level of wealth (GDP per capita) modelled against its overall ranking in the Legatum Institute's annual Prosperity Index (which uses eight economic and social factors including Entrepreneurship & Opportunity; Governance; Education; Health; Safety & Security; Personal Freedom; and Social Capital.) 

The Legatum Institute, a London-based think tank's Africa prosperity index, published on Wednesday, indicates that  Nigeria ranked at number 26th most prosperous African country,Nigeria is also reffered to as Africa's biggest economy.

Prosperity index

The  Legatum Institute's Africa prosperity index,  measures the human and economic prosperity of nations by eight subindexes , governance, economy, opportunity, freedom, health, education and security, as well as social bonds.

The amount of money a country has is one factor of prosperity, but the Legatum Institute considers more than that in its ranking,  according to a report (click for pdf)

The organisation compares 89 variables to come up with its list. These variables include traditional indicators like per capita gross domestic product and the number of people in full-time work as well as more interesting figures such as the number of secure internet servers a country has and how well rested people feel on a day-to-day basis.

The index looked at the African countries that have the most available data.