Nigeria has been ranked as the third worst country by Chandler Good Government Index (CGGI) which classifies countries in terms of government capabilities and outcomes.
Nigeria was ranked 102nd out 104 countries.
Finland topped the list with 0.848 points ahead of Switzerland and Singapore.
The only countries behind Nigeria were Zimbabwe and Venezuela.
It was reported that the CGGI list measured countries using data from over 50 publicly available sources such as the World Trade Organization (WTO), United Nations (UN) and World Bank.
The index uses 34 indictors which are organized into seven pillars: leadership and foresight; robust laws and policies; strong institutions; financial stewardship; attractive marketplace; global influence and reputation; and helping people rise.
The report noted that countries that have done well under this pillar are all market economies with sound property rights and stable business regulations.