Nigeria Ranks 109th on the Global Innovation Index 2023

In the recently released Global Innovation Index (GII) for 2023, Nigeria has secured the 109th position among the most innovative countries globally. The index, compiled by the World Intellectual Property Organisation (WIPO), places Switzerland, Sweden, and the United States as the top three innovative nations.

Key Highlights:

1. Nigeria’s Global Standing: Nigeria’s performance on the GII placed it at the 109th position, reflecting its innovation ecosystem. The country garnered 18.4%, securing the 12th spot on the African chart. South Africa led the continent with 30.4%, followed by Morocco with 28.4%, and Tunisia with 26.9%.
2. Global Top Three: Switzerland emerged as the most innovative country, with Sweden and the United States claiming the second and third positions, respectively. The top ten also featured the United Kingdom, Singapore, Finland, the Netherlands, Germany, Denmark, and South Korea.
3. Factors Considered: The GII assesses the innovation ecosystem performance of 132 economies, tracking global innovation trends. The evaluation encompasses fields such as science and innovation, technological progress, technological adoption, and socioeconomic impact.
4. Challenges and Opportunities: The GII 2023 report acknowledges the challenges posed by factors such as slow economic recovery from the COVID-19 pandemic, high-interest rates, and geopolitical conflicts. However, it highlights the promise of the Digital Age and Deep Science innovation waves and technological progress.
5. Changes in Rankings: Notably, Sweden has overtaken the United States, securing the second position, while Singapore has entered the top five and leads among South East Asia, East Asia, and Oceania (SEAO) region economies.

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The GII serves as a comprehensive benchmark for assessing global innovation trends, providing insights into the evolving landscape of science, technology, and socioeconomic impact. While Nigeria’s ranking reflects its current standing, the report also emphasizes the dynamic nature of innovation, presenting both challenges and opportunities for nations worldwide.

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