Nigeria’s stock exchange has been rated as the best performing stock exchange in 2007 in terms of returns. Slovenia and India came in second and third.

Here is an excerpt of the report:

It might be a little difficult to believe but the west African nation of Nigeria has emerged as the best performing stock market in the world in 2007, leaving Slovenia and India behind at the second and third places.

Nigeria was the best performing market with gains of 115 per cent, followed by Slovenia with 87.62 per cent and India with 80 per cent, a study by Standard & Poors revealed.

Overall, emerging markets rose 42 per cent in 2007 as against a gain of 9.4 per cent in developed markets, according to Standard & Poors-Citigroup BMI global index.