Nigeria Ranks 15 In Africa’s Most Economically Free Countries in 2026

Yemisi Izuora

Mauritius remains Africa’s most economically free country, ranking ninth worldwide in the Fraser Institute’s Economic Freedom of the World 2026 report, published on October 6, 2026. 

The Canadian think tank promotes free trade and market-based economic policies.

Nigeria according to the report ranks far below taking the 15th position.

The report measures the extent to which individuals and businesses can make economic decisions freely across 165 countries and territories. 

It uses 46 indicators, including tax rates, state ownership of assets, judicial independence, protection of private property, money supply growth, access to foreign currency accounts, average tariff rates, non-tariff trade barriers, bank ownership, the economic costs of bureaucracy, and labor market regulations.

These indicators are grouped into five categories: size of government, legal system and property rights, sound money, freedom to trade internationally, and regulation.

Each indicator is scored on a scale of 0 to 10. 

The scores are then combined with equal weighting to produce an average for each of the five categories. A country’s overall score is the average of its five category scores, ranging from 0, indicating a lack of economic freedom, to 10, representing the highest level of economic freedom.

Mauritius leads Africa and ranks ninth globally with a score of 7.97. The Indian Ocean island nation performs particularly well in sound money, scoring 9.06, and freedom to trade internationally, with a score of 8.76, according to the report published by Ecofin Agency.

Seychelles ranks second in Africa and 35th globally, followed by Cabo Verde (42nd worldwide), The Gambia (68th), Botswana (70th), Rwanda (76th), Uganda (78th), Kenya (85th), and South Africa (87th). Morocco completes Africa’s top 10, ranking 91st globally.

Globally, Hong Kong remains the world’s most economically free economy, with a score of 8.53, followed by Switzerland, Singapore, New Zealand, and the United States.

The report also finds that people living in countries with greater economic freedom tend to enjoy higher levels of prosperity, broader political and civil liberties, and longer life expectancy. It attributes the strong relationship between economic freedom and prosperity to greater economic efficiency when individuals and businesses have the freedom and incentives to start businesses, work, and save.

2026 Ranking of African Countries by Economic Freedom