Source
Central bank

Central Bank of Nigeria

International Reserves

US$ 47.548 billion (Source: World Bank; Data updated: 2012)

Gross Domestic Product - GDP

US$ 316 billion (2014 estimate)

GDP (Purchasing Power Parity)

521 billion of International dollars (2014 estimate)

Real GDP growth
2003 2004 2005 2006 2007 2008 2009 2010
10.3% 10.6% 5.4% 6.2% 7.0% 6.0% 7.0% 8.0%
2011 2012 2013 2014*        
7.4% 6.6% 6.3% 7.1%        

*Estimate

GDP per capita - current prices

US$ 1,817 (2014 estimate)

GDP per capita - PPP

$2,997 International Dollars (2014 estimate)

GDP (PPP) - share of world total
1980 1990 2000 2010 2014*
0.42% 0.38% 0.31% 0.50% 0.57%

*Estimate

 
 
Source
GDP - composition by sector
  • agriculture: 30.9% 
  • industry: 43% 
  • services: 26% (2012 estimate)
Gross domestic expenditure on R&D; (% of GDP)

N/A

(Data released on March 2012)

Inflation
2011 2012 2013 2014*
10.8% 12.2% 8.5% 7.3%

*Estimate

Unemployment rate
2011 2012 2013 2014*
23.9% N/A N/A N/A

*Estimate

Household saving rates

N/A

 

Public debt (General government gross debt as a % of GDP)
2010 2011 2012 2013 2014*
15.5% 17.2% 18.4% 19.4% 20.0%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2010 2011 2012 2013 2014*
-6.7% 0.9% 0.0% -4.9% -1.8%

*Estimate   

Government bond ratings

Standard & Poor's: BB-

Moody's rating: Ba3

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Sept 2014)

Market value of publicly traded shares
2010* 2011 2012**
US$50.88 billion US$39.27 billion US$56.39 billion

*201O Estimate   **2012 Estimate

Largest companies in Nigeria

Dangote Cement, Zenith Bank, FBN Holdings, Equity Assurance, Guaranty Trust Bank

 
 
Source
Current account balance

US$ 15.398 billion (2014 estimate)

Current account balance by percentage of GDP

4.872% of GDP (2014 estimate)

Exports as percent of GDP(Exports of goods and services)

18% (2013)

(Data released on Oct 2014)

Shares in world total merchandising export

0.62% (2012)

(Data were released in March 2014)

Shares in world total commercial services export

0.05% (2012)

(Data were released in 2014)

Total exports

US$ 93.550 billion (2013 estimate) 

Export commodities

petroleum and petroleum products 95%, cocoa, rubber

Total imports

US$ 55.980 billion (2013 estimate) 

 
 
Source
Import commodities

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

Exports - major partners

US 16.8%, India 11.5%, Netherlands 8.6%, Spain 7.8%, Brazil 7.6%, UK 5.1%, Germany 4.9%, Japan 4.1%, France 4.1% (2012)

Imports - major partners

China 18.3%, US 10.1%, India 5.5% (2012)

FDI inflows
2011 2012 2013
US$ 8,915 million US$ 7,127 million US$ 5,609 million
FDI outflows
2011 2012 2013  
US$ 824 million US$ 1,543 million US$ 1,237 million  
Value of cross-border M&A;, by country of purchaser
2010 2011 2012 2013
US$ 0 million US$ 1 million US$ 40 million US$ 241 million
Cross-border M&A; deals worth over $3 billion completed in 2012 (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 2013 (Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(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 - 189. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 147 out of 189 countries (2013)

Subcategories:

Starting a business: 122 out of 189 countries

Enforcing Contracts: 136 out of 189 countries

Registering Property: 185 out of 189 countries

Getting credit: 13 out of 189 countries

Protecting investors: 68 out of 189 countries

Trading across border: 158 out of 189 countries

Paying Taxes: 170 out of 189 countries

Dealing with Construction Permits: 151 out of 189 countries

Getting Electricity: 185 out of 189 countries

Resolving Insolvency: 107 out of 189 countries

(2013)

Global competitiveness ranking(ranking by country on a basis of 144, the first is the best)

127

(2014-2015)

 

 

Index of Economic FreedomWSJ and Heritage Foundation

Ranking: 129 Score: 54.3 (Mostly Unfree) (2014)

(100=totally free 0=totally repressed )

 
 
Source
Time zone

UTC+1

Total area

923,768 sq km 

Capital

Abuja

Currency

nairas (NGN)

Government type

federal republic

Languages

English (official), Hausa, Yoruba, Igbo (Ibo), Fulani, over 500 additional indigenous languages

 

Religions

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

Total population
1990 2000 2010 2014* 2019**
90.557 million 118.953 million 156.051 million 173.938 million 199.206 million

*Estimate    **Forecast

 
 
Source
Urban population as % of total population
1960 1980 2000 2013
N/A 22% 35% 46%
Population median age

18.2 years (2014 est.)

Population growth rate

2.47% (2014 est.)

Life expectancy

 52.62 years  (2014 est.)

Adult literacy

61.3% (2010 estimate)

% of population living on less than $2 a day

82.2% (2010)

Inequality of wealth distribution (Gini index)

43.0 (2010)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights: 4
Civil Liberties: 5 (2014)

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

Total telephone subscribers as % of population

Fixed 0.2 %   Mobile  73.3% (2013)
(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

38.00% (2013)

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

Abuja 36th (2014)

CO2 emissions(Metric tons of CO2 per capita)

0.5 (2010)

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