The list is compiled annually the Legatum Institute, a division of the United Arab Emirates-based private investment firm, Legatum.

According to Punch, the organization said “In the overall Prosperity Index rankings, Nigeria has climbed by three positions from 132 to 129 when compared to last year. Since the Prosperity Index began in 2006, Nigeria has moved down the rankings table by five places.

“In the Prosperity Pillar rankings, Nigeria performs best on Social Capital and Business Environment and scores lowest on the Safety and Security pillar. The biggest positive change, compared to last year, came in Business Environment increasing by 12 places, whereas they dropped one place on Safety and Security.”

The top 10 prosperous countries according to the list are: New Zealand, Finland, Switzerland, Denmark, Sweden, United Kingdom, Canada, Netherlands and Ireland.

World Poverty Clock report

In June, the World Poverty Clockstated that Nigeria now has the highest number of people living in extreme poverty all over the world.

According to its current estimate, 8% of the world's population, are currently living in extreme poverty, and an estimated 86,977,400 are in Nigeria.

ALSO READ: 6 people become extremely poor every minute in Nigeria

Nigeria’s economy improving

The report came shortly after President Buhari at a dinner held in his honour by the Jigawa state government on Monday, May 14, 2018, said that the economy of Nigeria has improved.

He also said that the future is bright for Nigerians, adding that the country’s foreign reserves have almost doubled.

However, HSBC bankin its report, predicted that there is a “risk of limited economic progress and further fiscal deterioration”, if Buhari wins his second term bid in 2019.

The report did not go down well with the Nigerian government, who described the bank as a conduit for stolen funds.