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location: WEST AFRICA / bordering Niger, Chad, Cameroon, Gulf of Guinea, and Benin.

capital: Abuja, population 0.8 million, but the real economic capital is Lagos, population 8 million (5% of the total).

population: 155 million

languages: English (official), Hausa, Igbo, Yoruba

religion: Sunni Moslem and Christian

currency: Nigerian Naira (NGN)

  

 


HISTORICAL BACKGROUND:

After independence from the UK in 1960, a series of coups followed culminating in a civil war, in which the Igbo unsuccessfully sought independence. The political scene was dominated by corruption, civil unrest, and a series of Military governments. However, following the death General Abacha, the country was returned to democracy in 1998, under President Olusegun The official language is English. However, there are around 500 Bantu tribes many of which speak their own language. The Hausa-Fulani, Yoruba, and Igbo account for nearly 70% of the population, while the Ijaw are the largest of the remainder. The total population is 155 million people, equivalent to 25% of the population of Africa.The government is administered by vice-President and acting President Jonathan Goodluck of the Ijaw tribe, pending the convalescence of PresidentYar’Adua.

POPULATION, LANGUAGE & RELIGION:

The official language is English. However, there are around 500 Bantu tribes many of which speak their own language. The main ones are the Hausa, Igbo, and Yoruba. The total population is 155 million people, equivalent to 25% of the population of Africa and roughly evenly split between Sunni Moslem and diverse Christian groups. The population is roughly evenly split between Sunni Moslem and diverse Christian groups.

CRIME & CORRUPTION RANKINGS:

Governance 35th,
Press Freedom 135th,
Corruption 130th,
Property Rights 104th

ECONOMY:

Nominal GDP for the twelve months to 30 September 2009 amounted to USD164 billion, equivalent to about USD1, 100 per capita. The two largest sectors are agriculture (36% of GDP), and natural resources (32%). Nigeria is an open Economy with exports amounting to 39% of GDP, while imports are approximately 14% of GDP. It is ranked 13th in Sub-Saharan Africa in terms of ease of doing business, with good scores in Investor protection.

NATURAL & AGRICULTURAL RESOURCES:

Primarily oil (35 billion barrels), although there are underdeveloped natural gas reserves (100 trillion cubic feet), as well as coal, bauxite, tantalite, gold, tin, iron ore, limestone, niobium, lead and zinc. Mean average rainfall is around 1,150mm, providing 61 million hectares of cultivable land, predominantly in the north, or 0.39 hectares per capita. External water sources provide a further 420 cubic metres per capita.

INTERNATIONAL INFLUENCE:

Regionally, Nigeria is a key part of the Lagos-based Economic Community of West African States (Ecowas) and also the West African Monetary Zone (WAMZ). More broadly, oil is exported primarily to the US, while most imported goods (textiles and televisions) are obtained from China. Nigeria is a leading trade partner for China in Africa.