Nigeria's New Global Ranking On Misery

An economist from John Hopkins University in Baltimore, US, Steve Hanke, has ranked Nigeria as the sixth most miserable country in the world.

The ranking is titled, Hanke’s Annual Misery Index 2018: The World’s Saddest (And Happiest) Countries.

Writing in the Forbes magazine of March 28, the economist notes that Misery Index is calculated using economic indices such as unemployment, inflation and the rates banks charge on loans.

“In the sphere of economics, misery tends to flow from high inflation, steep borrowing costs and unemployment,” Hanke warns.

The Index notes that the high rate of unemployment in Nigeria contributes largely to its unflattering rating on the Misery Index.

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