Nigeria is a country located in West Africa with a coast on the Gulf of Guinea and Atlantic Ocean. Neighboring countries include Benin, Cameroon, Chad, and Niger. The geography ranges from southern coastal swamps to tropical forests, woodlands, grasslands and semi-desert in the north. The government system is a federal republic; the chief of state and head of government is the president. Nigeria has a mixed economic system which includes a variety of private freedom, combined with centralized economic planning and government regulation. Nigeria is a member of the Economic Community of West African States (ECOWAS).
Following an April 2014 statistical “rebasing” exercise, Nigeria has emerged as Africa’s largest The management of money, currency and trade of a nation. The..., with 2015 GDP estimated at $1.1 trillion. Oil has been a dominant source of income and government revenues since the 1970s. Following the 2008-9 global financial crises, the banking sector was effectively recapitalized and regulation enhanced. Nigeria’s An increase in a region's or nation's production of goods an... over the last five years has been driven by growth in agriculture, telecommunications, and services. Economic The act or strategy of growing a business/brand by developin... and strong growth have not translated into a significant decline in poverty levels, however – over 62% of Nigeria’s 170 million people still live in extreme poverty.
Although much has been made of its status as a major exporter of oil, Nigeria produces only about 2.7% of the world’s supply (Saudi Arabia: 12.9%, Russia: 12.7%, USA:8.6%). To put oil revenues in perspective: at an estimated export rate of 1.9 Mbbl/d (300,000 m3/d), with a projected sales The amount of money required to purchase something or to bri... of $65 per barrel in 2011, Nigeria’s anticipated revenue from petroleum is about $52.2 billion (2012 GDP: $451 billion). This accounts about 11% of official GDP figures (and drops to 8% when the informal The management of money, currency and trade of a nation. The... is included in these calculations). Therefore, though the petroleum sector is important, it remains in fact a small part of the country’s overall vibrant and diversified The management of money, currency and trade of a nation. The....
- Country ISO3 : NGA
- Country Code : 566
- Income Group : Lower middle income
- Lending Category : Blend
- Region : Sub-Saharan Africa
- Currency Unit: Nigerian naira
- WTO Member : Yes
- The buying and selling or exchange of goods and services. Th... organisations : WTO
- world rank : 116
- Regional Ranking : 20th in Sub-Saharan Africa