Nigeria GDP Data & Country Report

Central bank

Central Bank of Nigeria

International Reserves

US$ 35.885 billion (Source: World Bank; Data updated: November 2010)

Gross Domestic Product - GDP

US$ 267.779 billion (2009 estimate)

GDP (Purchasing Power Parity)

408.342 billion of International dollars (2009 estimate)

Real GDP growth

2000	2001	2002	2003	2004	2005	2006	2007
5.3%	8.2%	21.2%	10.3%	10.6%	5.4%	6.2%	7%
2008	2009	2010	2011*
6%	7%	8.4%	6.9%

*Estimate

GDP per capita - current prices

US$ 1,670 (2006 estimate)

GDP per capita - PPP

$2,547 International Dollars (2006 estimate)

GDP (PPP) - share of world total

1980	1990	2000	2010	2015**
0.42%	0.39%	0.32%	0.51%	0.56%

**Forecast

GDP - composition by sector

agriculture: 35.4%
industry: 33.6%
services: 31% (2011 estimate)

(Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP)

N/A

(Data released on November 2010)

Inflation

2008	2009	2010	2011*
11.6%(2008)	12.5%	13.7%	11.1%

*Estimate

Unemployment rate

2008	2009	2010	2011*
4.5%	4.5%	4.5%(2009)	4.5%

*Estimate

Household saving rates

N/A

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)

2007	2008	2009	2010	2011*
12.8%	11.6%	15.2%	16.4%	16.2%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)

2007	2008	2009	2010*	2011**
-1.3%	3.5%	-10.3%	-7.9%	-4.3%

*Estimate **Forecast

Government bond ratings

Standard & Poor's: B+/Stable/B

Moody's rating: N/A

Moody's outlook: N/A

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares

2007	2008	2009
US$86.347 billion	US$49.803 billion	US$33.325 billion

Largest companies in Nigeria

Dangote Cement (Construction Materials)
(2011)

Current account balance

US$ 39.2 billion (2009 estimate)(After 2008)

Current account balance by percentage of GDP

14.6% of GDP (2009 estimate)(2009)

Exports as percent of GDP

(Exports of goods and services)

31.4% (2009)

(Data released on December 2010)

Shares in world total merchandising export

0.54%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export

0.07%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exports

US$76.33 billion f.o.b. (2010 estimate)

Export commodities

petroleum and petroleum products 95%, cocoa, rubber

Total imports

US$46.36 billion f.o.b. (2008 estimate)

Import commodities

machinery, chemicals, transport equipment, manufactured goods, food and live animals

Exports - major partners

US 51.6%, Brazil 8.9%, Spain 7.7% (2007)

Imports - major partners

China 10.6%, Netherlands 7.9%, US 7.8%, South Korea 6.6%, UK 5.7%, France 4.3%, Brazil 4.2%, Germany 4.1% (2007)

FDI inflows

2008	2009	2010
US$8,249 million	US$8,650 million(2009)	US$6,099 million(2009)

FDI outflows

2008	2009	2010
US$1,058 million	US$1,542 million	US$923 million

Value of cross-border M&A, by country of purchaser

2008	2009	2010	2011
US$418 million	N/A(2009)	N/A(2009)	N/A

Cross-border M&A deals worth over $3 billion completed in 2008

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 137 out of 183 countries(2009) (2010)

Subcategories:

Starting a business: 110 out of 183 countries(2009)

Registering property: 179 out of 183 countries

Paying Taxes: 134 out of 183 countries

Getting credit: 89 out of 183 countries

Protecting investors: 59 out of 183 countries

Trading across border: 146 out of 183 countries

Enforcing Contracts: 97 out of 183 countries

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)

127

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 111 Score: 56.7 (Mostly Unfree) (2009)

(100=totally free 0=totally repressed )

Time zone

UTC+1

Total area

923,768 km² (2006)

Capital

Abuja (2009)

Currency

nairas (NGN) (2009)

Government type

federal republic (2009)

Languages

English (official), Hausa, Yoruba, Igbo (Ibo), Fulani

Religions

Muslim 50%, Christian 40%, indigenous beliefs 10%

Total population

1980	1990	2000	2010*	2015**
68.45 million	90.56 million	118.95 million	156.05 million	178.72 million

*Estimate **Forecast

Urban population as % of total population

1960	1980	2000	2009
16.2%	28.6%	42.5%	49.1%

Population median age

18.0 years (2006)

Population growth rate

2.3% (2009)

Life expectancy

47 years (2007)

Adult literacy

72% (2000/2007)

% of population living on less than $2 a day

83.91% (2011)

Inequality of wealth distribution (Gini index)

42.9 (2004)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:4
Civil Liberties:4 (2010)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

55.77% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population

28.43% (Data were released in 2011 and refer to 2010)

Cost of living index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Abuja: 82nd (2011)

CO2 emissions
(Metric tons of CO2 per capita)

0.6333 (2008)

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2012:

COUNTRY WINNERS First Bank of Nigeria (National, 2012)

2011:

COUNTRY WINNERS First Bank of Nigeria (National, 2011)

2010:

COUNTRY WINNERS First Bank of Nigeria (National, 2010)

2009:

COUNTRY WINNERS First Bank of Nigeria (National, 2009)

WORLD'S BEST INTERNET BANKS

2011:

COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2011)

2010:

COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Standard Chartered (National, 2010)

2009:

COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (2009)

WORLD'S BEST ISLAMIC FINANCE INSTITUTIONS

2012:

COUNTRY WINNERS Jaiz Bank (National, 2012)

WORLD'S BEST EMERGING MARKET BANKS

2012:

COUNTRY WINNERS FirstBank of Nigeria (National, 2012)

2011:

COUNTRY WINNERS FirstBank (National, 2011)

2010:

COUNTRY WINNERS FirstBank (National, 2010)

2009:

COUNTRY WINNERS FirstBank (National, 2009)

WORLD'S BEST SUB CUSTODIANS

2011:

COUNTRY WINNERS Stanbic Bank (National, 2011)

2010:

COUNTRY WINNERS Stanbic IBTC Bank (National, 2010)

2009:

COUNTRY WINNERS Stanbic IBTC Bank (National, 2009)

WORLD'S BEST INVESTMENT BANKS

2012:

COUNTRY WINNERS FBN Capital (National, 2012)

2011:

Best Equity Bank Vetiva Capital Management (Africa, 2011)
COUNTRY WINNERS Vetiva Capital Management (National, 2011)

2010:

COUNTRY WINNERS Standard Bank (National, 2010)

CENTRAL BANKER REPORT CARD

2011:

Grade: B+ (Sanusi Lamido Sanusi, 2011)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2012:

COUNTRY WINNERS Stanbic IBTC Bank (National, 2012)

2011:

COUNTRY WINNERS First Bank of Nigeria (National, 2011)
COUNTRY WINNERS Stanbic IBTC Bank (National, 2011)

2010:

COUNTRY WINNERS First Bank of Nigeria (National, 2010)

2009:

COUNTRY WINNERS First Bank of Nigeria (National, 2009)

Nigeria GDP Data & Country Report | Global Finance

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2012:

2011:

2010:

2009:

WORLD'S BEST INTERNET BANKS

2011:

2010:

2009:

WORLD'S BEST ISLAMIC FINANCE INSTITUTIONS

2012:

WORLD'S BEST EMERGING MARKET BANKS

2012:

2011:

2010:

2009:

WORLD'S BEST SUB CUSTODIANS

2011:

2010:

2009:

WORLD'S BEST INVESTMENT BANKS

2012:

2011:

2010:

CENTRAL BANKER REPORT CARD

2011:

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2012:

2011:

2010:

2009: