Source
Central bank

Central Bank of Nigeria

International Reserves

USD 30.6 billion (2015)

International Monetary Fund (IMF), data retrieved January 2017

Gross Domestic Product - GDP

USD 413.7 billion (2017, estimate)

GDP (Purchasing Power Parity)

Intl$ 1,119.5 billion (2017, estimate)

Real GDP growth
2006 2007 2008 2009 2010 2011 2012
6.7% 7.3% 7.2% 8.4% 11.3% 4.9% 4.3%
2013 2014 2015 2016* 2017*    
5.4% 6.3% 2.7% -1.8% 0.7%    

*Estimate

GDP per capita - current prices

USD 2,192.5 (2017, estimate)

GDP per capita - PPP

Intl$ 5,933.3 (2017, estimate)

GDP (PPP) - share of world total
1980 1990 2000 2010 2017*
0.48% 0.44% 0.45% 0.92% 0.9%

*Estimate

 
 
Source
GDP - composition by sector
  • agriculture: 21.1% 
  • industry: 19.4% 
  • services: 59.5%

(2016 estimate)

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

N/A

Inflation
2013 2014 2015 2016* 2017*
8.5% 8.0% 9.0% 15.4% 17.1%

*Estimate

Unemployment rate
2013 2014 2015 2016* 2017*
10.0% 7.8% 9.0% 12.1% N/A

*Estimate

Household saving rates

N/A

 

Public debt (General government gross debt as a % of GDP)
2013 2014 2015 2016* 2017*
10.5% 10.6% 11.5% 14.6% 15.5%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2013 2014 2015 2016* 2017*
-2% -1.2% -3.8% -4.6% -4%

*Estimate   

Government bond ratings

Standard & Poor's: B

Moody's: B1

Standard & Poor's / Moody's (Updated January 2017)

Market value of publicly traded shares
2013 2014 2015
USD 80.6 billion USD 63.5 billion USD 50 billion
Largest companies

Dangote Cement, Zenith Bank, FBN Holdings, Guaranty Trust Bank.

 
 
Source
Current account balance

USD -1.7 billion (2017 estimate)

Current account balance by percentage of GDP

-0.4% (2017 estimate)

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

10.7% (2015)

Shares in world total merchandising export

0.3% (2015)

Shares in world total commercial services export

0.06% (2015)

Total exports

USD 33.3 billion (2016 estimate)

Export commodities

Petroleum and petroleum products 95%, cocoa, rubber (2012 estimate)

Total imports

USD 36.4 billion (2016 estimate)

 
 
Source
Import commodities

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

Exports - major partners

India 18.2%, Netherlands 8.5%, Spain 8.2%, Brazil 8.2%, South Africa 7.8%, France 5.2%, Japan 4.5%, Cote dIvoire 4.2%, Ghana 4% (2015)

Imports - major partners

China 25.7%, US 6.4%, Netherlands 6.1%, India 4.3% (2015)

FDI inflows
2013 2014 2015
USD 5,608 million USD 4,694 million USD 3,064 million
FDI outflows
2013 2014 2015
USD 1,238 million USD 1,614 million USD 1,435 million
Value of cross-border M&A, by country of purchaser
2012 2013 2014 2015
USD 39.8 million USD 240.3 million USD 2108.8 million USD -335.7 million
Cross-border M&A deals worth over $3 billion completed in 2014

N/A

Cross-border M&A deals worth over $3 billion completed in 2015

N/A

Best countries for doing business

Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 169 out of 190 countries (2017)

Subcategories:

Starting a business: 138 out of 190 countries

Enforcing Contracts: 139 out of 190 countries

Registering Property: 182 out of 190 countries

Getting Credit: 44 out of 190 countries

Protecting Minority Investors: 32 out of 190 countries

Trading Across Borders: 181 out of 190 countries

Paying Taxes: 182 out of 190 countries

Dealing with Construction Permits: 174 out of 190 countries

Getting Electricity: 180 out of 190 countries

Resolving Insolvency: 140 out of 190 countries

Global competitiveness ranking

127 out of 138 countries

(2016-2017)

Index of Economic Freedom

Ranking: 116 / Score: 57.46 (Mostly unfree) (2016)

(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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