Nigeria

Country Summary

Introduction

Background

Africa’s most populous country attained independence from Britain in 1960. Adoption of a new constitution in 1999 completed a peaceful transition to civilian rule. The government continues to face the daunting task of institutionalizing democracy and reforming a petroleum-based economy.

Geography

Area

total: 923,768 sq km
land: 910,768 sq km
water: 13,000 sq km

Climate

varies; equatorial in south, tropical in center, arid in north

Natural resources

natural gas, petroleum, tin, iron ore, coal, limestone, niobium, lead, zinc, arable land

People and Society

Population

230,842,743 (2023 est.)

Ethnic groups

Hausa 30%, Yoruba 15.5%, Igbo (Ibo) 15.2%, Fulani 6%, Tiv 2.4%, Kanuri/Beriberi 2.4%, Ibibio 1.8%, Ijaw/Izon 1.8%, other 24.9% (2018 est.)

Languages

English (official), Hausa, Yoruba, Igbo (Ibo), Fulani, over 500 additional indigenous languages

Religions

Muslim 53.5%, Roman Catholic 10.6%, other Christian 35.3%, other 0.6% (2018 est.)

Population growth rate

2.53% (2023 est.)

Government

Government type

federal presidential republic

Capital

name: Abuja

Executive branch

chief of state: President Bola Ahmed Adekunle TINUBU (since 29 May 2023); Vice President Kashim SHETTIMA (since 29 May 2023); note - the president is chief of state, head of government, and commander-in-chief of the armed forces
head of government: President Bola Ahmed Adekunle TINUBU (since 29 May 2023); Vice President Kashim SHETTIMA (since 29 May 2023)

Legislative branch

description: bicameral National Assembly consists of:
Senate (109 seats - 3 each for the 36 states and 1 for Abuja-Federal Capital Territory; members directly elected in single-seat constituencies by simple majority vote to serve 4-year terms)
House of Representatives (360 seats statutory, 258 current; members directly elected in single-seat constituencies by simple majority vote to serve 4-year terms)

Economy

Economic overview

largest African market economy; enormous but mostly lower middle income labor force; major oil exporter; key telecommunications and finance industries; susceptible to energy prices; regional leader in critical infrastructure; primarily agrarian employment

Real GDP (purchasing power parity)

$1.05 trillion (2021 est.)
$1.014 trillion (2020 est.)
$1.032 trillion (2019 est.)

Real GDP per capita

$4,900 (2021 est.)
$4,900 (2020 est.)
$5,100 (2019 est.)

Agricultural products

cassava, yams, maize, oil palm fruit, rice, vegetables, sorghum, groundnuts, fruit, sweet potatoes

Industries

crude oil, coal, tin, columbite; rubber products, wood; hides and skins, textiles, cement and other construction materials, food products, footwear, chemicals, fertilizer, printing, ceramics, steel

Exports

$50.856 billion (2021 est.)
$39.937 billion (2020 est.)
$69.927 billion (2019 est.)

Exports - partners

India 16%, Spain 12%, United States 6%, France 6%, China 5% (2021)

Exports - commodities

crude petroleum, natural gas, scrap vessels, cocoa beans, refined petroleum (2021)

Imports

$66.107 billion (2021 est.)
$72.178 billion (2020 est.)
$100.82 billion (2019 est.)

Imports - partners

China 30%, Netherlands 11%, United States 6%, Belgium 5% (2019)

Imports - commodities

refined petroleum, cars, wheat, laboratory glassware, packaged medicines (2019)

Exchange rates

nairas (NGN) per US dollar -
Exchange rates:
358.811 (2020 est.)
306.921 (2019 est.)
306.084 (2018 est.)
305.79 (2017 est.)
253.492 (2016 est.)


Page last updated: Tuesday, February 20, 2024