Nigeria

World Rank 34 5.23 Nigeria flag svg
Capital
Area
Currency
Abuja
923,768 km 2
Naira (NGN)

Table of Contents

Introduction

The Federal Republic of Nigeria is one of the largest and most prosperous nations in Africa. It is located in West Africa and shares borders with Niger, Chad, Cameroon, and Benin. Being a federal republic, it is divided into 36 states. However, there is also the Federal Capital Territory, which is the capital of the nation Abuja. Interestingly, the largest city in the country and in the entire African continent is Lagos.

Economy

The GDP of Africa is gigantic when compared to other African nations. It is by far the largest in the continent with the value of $1.07 trillion. The second economy in the region is South Africa with approximately 25% lower GDP.  Another indication of nations’ wealth is the GDP per capita. In this respect, the numbers from 2019 indicate that the average Nigerian citizen has approximately $5,300, which is a very low number. 

Population

In spite of low GDP, we need to remember that Nigeria is the most populous country in Africa. Interestingly, a lot of predictions indicate that in the next 30 years, Nigeria will become the third most populous country in the world. As of 2019, the population of 200 million citizens give them 9th place in the world's rankings.

Gross domestic product (GDP, GDP PPP)

Gross domestic product (GDP)

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  • Historical chart

Gross domestic product growth rate

Gross domestic product per capita

Gross domestic product (PPP)

Gross domestic product (PPP) per capita

International trade (Export, Import)

External balance on goods and services

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  • Historical chart

External balance on goods and services (% of GDP)

Exports of goods and services (current US$)

Exports of goods and services (% of GDP)

Imports of goods and services (current US$)

Imports of goods and services (% of GDP)

Employment by sector, Unemployment

Unemployment (% of total labor force)

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  • Historical chart

Employment in agriculture (% of total employment)

Employment in industry (% of total employment)

Employment in services (% of total employment)

Vulnerable employment (% of total employment)