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Forbes Ranks Nigeria As The Sixth Most Miserable Country In The World

Steve Hanke, an economist from John Hopkins University in Baltimore, 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”

The economist writing in the Forbes Magazine of March 28, stated that in economics, misery tends to grows from high inflation, high interest rate and unemployment. while happiness tends to blossom when growth is strong, inflation and interest rates are low and job are in abundance.

Hanke, in his ranking placed Thailand at No. 95 out of 95 on the list which makes them the least miserable country in the world on the 2018 Misery Index.

Hungary is on the 94th position out of 95 which makes them the second least miserable country in the world from 2017 to 2018.

However, the economist went further to mention Venezuela as the most miserable country in the world as they have always been in 2015, 2016 and 2017. He blamed the countries situation on the failures of President Nicolás Maduro’s socialist, corrupt petroleum state which have been well documented over the past year and by his measurements of Venezuela’s hyperinflation. He added that not only is Venezuela the most miserable country in the world, but its Misery Index score has dramatically increased during the past year, as the economy’s collapse has accelerated.

Argentina is No. 2 on the list after yet another peso crises.

On the chart below, Nigeria is found on the No. 6 spot out of the 95 miserable countries in the world, which calls for proactive measures to be taken to move the countries economy out of her devastating situation.