Nigeria FlagNigeria

Unity And Faith, Peace And Progress

 

General


Population: 177,155,754 (2014), 174,507,539 (2013)
Land Area: 923,768 sq km
Natural Resources: Natural gas, petroleum, tin, iron ore, coal, limestone, niobium, lead, zinc, arable land
Capital: Abuja
Political System: Federal Republic
State Leader: Goodluck Jonathan (May 5th 2010)
Languages: English, Hausa, Yoruba, Igbo, Fulani
Currency: Naira (NGN)
Major Religions: Muslim 50%, Christian 40%, Indigenous Beliefs 10%
Major Ethnicities: Hausa and Fulani 29%, Yoruba 21%, Igbo 18%, Ijaw 10%, Kanuri 4%, Ibibio 3,5%, Tiv 2,5%, Over 250 other ethnic groups
Life Expectancy: 52.62 years (2014), 52.46 years (2013)

Economy


GDP Official Exchange Rate: 502 billion (2013)
GDP Purchasing Power Parity: 478.5 billion (2013), 450.4 billion (2012)
GDP Per Capita (PPP): 2,800 (2013), 2,800 (2012)
GDP Growth Rate: 6.2% (2013), 6.3% (2012)
GDP Structure: Agriculture 30.9%, Industry 43%, Services 26% (2012)
Labour Force By Occupation: Agriculture 70%, Industry 10%, Services 20% (1999)
Industries: Crude oil, tin, columbite, palm oil, peanuts, cotton, rubber, wood, hides and skins, textiles, cement and other construction materials, food products, footwear, chemicals, fertilizer, printing, ceramics, steel, small commercial ship construction and repair
Agriculture Products: Cocoa, peanuts, palm oil, corn, rice, sorghum, millet, cassava, yams, rubber; cattle, sheep, goats, pigs; timber; fish
Human Development Index: 0.504 (152nd)(2014), 0.471 (153rd)(2013)
Tourism Revenue: 156 million (2001)
Unemployment Rate: 23.9% (2011)

MilitaryNigeria Map


Army Size: 78 500 (2004)
Budget: 1.5% of GDP (2006)

Current Situation

 

Nigeria is located in West Africa. Nigeria bordered by Benin, Cameroon, Chad and Niger. Nigeria's economy is growing rapidly and it is a major trade center in Africa. Foreign investment mostly from the United States has allowed Nigeria to exploit most of its resources. Nigeria also has a growing services sector, with financial services playing an important role. Poverty however remains very high.

(2014) Nigeria's economy continues to grow at a high rate of growth and this should help it continue to be an economic leader in Africa. The GDP calculation method was changed in 2014 and this nearly doubled Nigeria's GDP, by using 2010 as a base year for the GDP calculation instead of 1990 helped Nigeria become Africa's largest economy.

Thoughts & Comments

 

Sources

CIA World Factbook: Nigeria
The Economist: The World In 2014
Wikipedia: Nigeria
http://hdrstats.undp.org/en/countries/profiles/NGA.html

Updated on: November 7th, 2014