Nigeria
NIGERIA
A. General Info:
| Official Name | Federal Republic of Nigeria |
| Capital | Abuja |
| Main Cities | Lagos, Kano, Ibadan, Kaduna, Port Harcourt, Benin City |
| Languages | English (official), Hausa, Yoruba, Igbo (Ibo), Fulani |
| Government | Presidential Federal Republic |
| Independence | 1 October 1960 (from UK) |
| Area | Total: 923,768 sq km; land: 910,768 sq km, water: 13,000 sq km |
| Population | 149,229,090 |
| Currency | Nigerian Naira (NGN) |
| Climate | Varies, equatorial in south, tropical in center, arid in north |
| Time Zone | WAT (UTC +1) |
| Main Airports | Nnamdi Azikiwe Intl Airport (Abuja), Mallam Aminu Kano Intl Airport (Kanos), Murtala Muhammed Intl Airport (Lagos/Ikeja), Gombe Lawanti Intl Airport (Gombe), Port Harcourt Intl Airport (Port Harcourt) |
| Main Harbors | Apapa, Calabar, Lagos, Port Harcourt, Tin Can, Warri |
B. Economic Indicators
|
2005 |
2006 |
2007 |
2008 |
2009 |
|
| GDP | |||||
| Nominal GDP (US$bn) |
112.2 |
145.4 |
165.5 |
195.6 |
159.4 |
| Real GDP Growth (%) |
6.5 |
6.0 |
6.4 |
6.0 |
5.4 |
| Expenditure on GDP (% real change) | |||||
| Private Consumption |
9.2 |
-17.0 |
34.1 |
-14.2 |
4.7 |
| Government Consumption |
10.5 |
35.8 |
21.4 |
27.0 |
7.0 |
| Gross fixed Investment |
-10.4 |
88.6 |
18.8 |
97.9 |
5.0 |
| Export of goods & services |
12.4 |
70.4 |
-15.4 |
-9.0 |
0.9 |
| Import of goods & services |
33.6 |
36.0 |
39.9 |
0.4 |
4.9 |
| Origin of GDP (%real change) | |||||
| Agriculture |
7.1 |
7.4 |
7.2 |
6.3 |
7.0 |
| Industry |
1.7 |
-2.5 |
-2.2 |
-3.4 |
-0.4 |
| Services |
10.6 |
12.1 |
12.5 |
12.2 |
7.0 |
| GDP per capita (US$ at PPP) |
1,779 |
1,908 |
2,046 |
2,171 |
2,268 |
| Fiscal Indicator (% of GDP) | |||||
| Public-sector revenue |
11.9 |
13.0 |
11.0 |
13.0 |
8.6 |
| Public-sector expenditure |
13.0 |
8.9 |
11.3 |
11.3 |
13.7 |
| Public-sector balance |
-1.1 |
4.0 |
-0.2 |
1.6 |
-5.1 |
| Net public debt |
28.2 |
12.1 |
12.6 |
9.6 |
14.3 |
| Prices and financial indicators | |||||
| Exchange Rates N:US$ (end-period) |
129.00 |
128.27 |
11.97 |
132.56 |
150.42 |
| Consumer Prices (av; % change) |
17.9 |
8.2 |
5.4 |
11.6 |
12.4 |
| Stock of money M1 (% change) |
27.1 |
19.7 |
73.6 |
47.9 |
-8.4 |
| Stock of money M2 (% change) |
22.6 |
36.4 |
64.2 |
52.6 |
9.6 |
| Lending interest rate (av; %) |
17.9 |
16.9 |
16.9 |
15.5 |
18.8 |
| Current Account (US$m) | |||||
| Trade Balance |
29,198 |
34,505 |
35,865 |
43,986 |
14,940 |
| Goods: exports fob |
55,202 |
56,934 |
66,051 |
78,336 |
47,752 |
| Goods: imports fob |
-26,003 |
-22,429 |
-30,186 |
-34,350 |
-32,812 |
| Services Balance |
-4,831 |
-6,617 |
-11,051 |
-11,418 |
-8,978 |
| Income Balance |
-2,256 |
-6,604 |
-11,753 |
-11,180 |
-10,310 |
| Current-account balance |
37,264 |
38,228 |
30,928 |
39,357 |
10,292 |
| External Debt (US$m) | |||||
| Debt stock |
22,178 |
7,799 |
8,934 |
10,456 |
9,760 |
| Debt service paid |
8,881 |
6,853 |
1,243 |
878 |
517 |
| Principal repayments |
3,874 |
6,470 |
892 |
39 |
432 |
| Interest |
5,007 |
383 |
351 |
140 |
139 |
| International Reserves (US$m) | |||||
| Total international reserves |
28,280 |
42,299 |
51,334 |
53,002 |
46,524 |
C. Trade
C.1. Nigeria’s Trade with the World
|
US$ Mn. |
2005 |
2006 |
2007 |
2008 |
2009 |
| Export (fob) |
43,531 |
57,705 |
66,648 |
86,421 |
50,936 |
| Import (cif) |
24,493 |
29,186 |
38,863 |
53,391 |
46,800 |
| Trade Volume |
68,024 |
86,891 |
105,511 |
139,812 |
97,736 |
| Trade Balance |
19,038 |
28,519 |
27,785 |
33,030 |
4,136 |
| World Trade (US$ Bn) |
21,058 |
24,294 |
27,845 |
32,215 |
24,948 |
| Share |
0.32% |
0.35% |
0.37% |
0.43% |
0.39% |
C.2. Nigeria’s trade with D-8 Countries
|
US$ Mn. |
2005 |
2006 |
2007 |
2008 |
2009 |
| Export (fob) |
1,113.26 |
388.93 |
1,050.59 |
649.01 |
667.67 |
| Import (cif) |
572.27 |
424.57 |
584.71 |
926.55 |
842.74 |
| Trade Volume |
1,685.53 |
813.5 |
1,635.3 |
1,575.56 |
1,510.41 |
| Trade Balance |
540.99 |
-35.64 |
465.88 |
-277.54 |
-175.07 |
| D-8 Intra Trade (US$ Mn) |
41,537.19 |
49,806.52 |
66,828.03 |
78,382.2 |
66,947.63 |
| Share |
4.06% |
1.63% |
2.45% |
2.01% |
2.25% |
C.3. Nigeria’s Trade 10 Main Commodities
C.3.1 Export by 10 Principal Commodities, (million US$)
|
No. |
Commodity
|
2006 |
2007 |
2008 |
| Mineral fuels, oils, distillation products, etc |
58,172.37 |
51,194.00 |
75,266.06 |
|
|
2. |
Ships, boats and other floating structures |
442.81 |
179.07 |
1,853.17 |
|
3. |
Raw hides and skins (other than furskins) and leather |
78.27 |
383.23 |
680.93 |
|
4. |
Cocoa and cocoa preparations |
17.67 |
474.15 |
601.25 |
|
5. |
Plastics and articles thereof |
14.77 |
108.93 |
574.75 |
|
6. |
Essential oils, perfumes, cosmetics, toileteries |
70.83 |
21.84 |
470.08 |
|
7. |
Rubber and articles thereof |
17.38 |
198.94 |
441.06 |
|
8. |
Printed books, newspapers, pictures etc |
4.63 |
256.41 |
195.40 |
|
9. |
Nuclear reactors, boilers, machinery, etc |
39.71 |
44.80 |
173.15 |
|
10. |
Manmade staple fibres |
6.01 |
30.50 |
159.84 |
C.3.2 Import by 10 Principal commodities, (million US$, 2008)
|
No. |
Commodity
|
2006 |
2007 |
2008 |
|
1. |
Nuclear reactors, boilers, machinery, etc |
4,022.35 |
4,615.39 |
4,969.27 |
|
2. |
Vehicles other than railway, tramway |
2,560.37 |
3,964.42 |
4,038.73 |
|
3. |
Electrical, electronic equipment |
2,478.01 |
2,529.53 |
3,836.80 |
|
4. |
Articles of iron or steel |
987.09 |
1,780,49 |
1,466.16 |
|
5. |
Plastics and articles thereof |
1,536.27 |
2,335.73 |
1,335.95 |
|
6. |
Cotton |
1.05 |
132.94 |
1,153.86 |
|
7. |
Iron and steel |
816.41 |
1,516.88 |
1,054.29 |
|
8. |
Cereals |
1,791.49 |
2,660.05 |
772.82 |
|
9. |
Fish, crustaceans, molluscs, aquatic invertebrates nes |
746.13 |
1,185.96 |
622.11 |
|
10. |
Organic chemicals |
447.39 |
687.65 |
543.64 |
C.4 Export and Import by Main Destination Country
Export by Main Destination Country (% of total)
|
2006 |
2007 |
2008 |
2009 |
|
| United States of America |
45 |
46.6 |
42.5 |
40.2 |
| India |
9.3 |
8.2 |
9.6 |
9.0 |
| Brazil |
4.2 |
6.4 |
6.5 |
6.2 |
| France |
5.7 |
3.7 |
4.1 |
3.6 |
| Netherlands |
2.6 |
0.3 |
4 |
3.6 |
| Others |
33.2 |
34.8 |
33.3 |
37.4 |
Import by Main Origin Country (% of total)
|
2006 |
2007 |
2008 |
2009 |
|
| China |
13.8 |
15.2 |
15.2 |
15.1 |
| United States of America |
15.7 |
15.1 |
8.2 |
9.2 |
| Belize |
0 |
0.1 |
7.1 |
7.0 |
| Germany |
5.6 |
4.9 |
6.8 |
6.5 |
| Belgium |
5.1 |
12.2 |
5.7 |
5.5 |
| Others |
59.8 |
52.5 |
57 |
56.7 |
D. Foreign Direct Investment (Overview, selected years)
|
US$ Mn |
FDI Flows |
FDI Stocks |
||||||||
|
1990-2000 |
2005 |
2006 |
2007 |
2008 |
1990 |
1995 |
2000 |
2007 |
2008 |
|
| Inward |
1,477 |
4,978 |
13,856 |
12,454 |
20,279 |
8,539 |
16,256 |
23,786 |
62,791 |
83,069 |
| Outward |
304 |
200 |
228 |
468 |
299 |
1,207 |
2,931 |
4,132 |
5,722 |
6,020 |
E. Agriculture: Food Commodities
|
US$ Mn |
2007 |
2008 |
| Export |
692.45 |
874.17 |
| Import |
4,370.73 |
2,578.43 |
| Trade Volume |
5,063.18 |
3,452.60 |
| Trade Balance |
-3,678.28 |
-1,704.26 |
| D-8 Total Trade |
67,978.23 |
101,328.20 |
| Share to D-8 Total Trade |
7.45% |
3.40% |
F. Energy
F.1 Oil
|
Petroleum (Thousand Barrels per Day) |
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
| Total Oil Production |
2,123.32 |
2,278.59 |
2,331.7 |
2,630.17 |
2,443.28 |
2,353.07 |
2,170.23 |
| Crude Oil Production |
2,117.86 |
2,275.00 |
2,328.96 |
2,627.44 |
2,439.86 |
2,349.64 |
2,115.52 |
| Consumption |
304 |
288 |
277 |
300 |
268 |
271 |
271 |
| Net Exports/Imports |
1,819 |
1,990 |
2,055 |
2,330 |
2,175 |
2,082 |
1,899.23 |
| Refinery |
439 |
439 |
439 |
439 |
439 |
439 |
439 |
| Proved reserved (billion barrels) |
34.3 |
35.3 |
35.9 |
36.2 |
36.2 |
36.2 |
36.2 |
F.2 Natural Gas
|
Natural Gas (Billion Cubic Feet/day) |
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
| Total Production |
1.4 |
1.9 |
2.2 |
2.2 |
2.8 |
3.4 |
3.4 |
| Consumption |
0.61 |
0.82 |
0.90 |
1.00 |
1.03 |
1.06 |
0.61 |
| Net Exports/Imports |
0.79 |
1.08 |
1.3 |
1.2 |
1.77 |
2.34 |
2.79 |
| Proved reserved
(trillion cubic meters, TCM) |
5.00 |
5.06 |
5.23 |
5.15 |
5.22 |
5.22 |
5.22 |
F.3 Renewable Energy
|
Country |
Renewable Indicator |
2004 |
2005 |
2006 |
2007 |
2008 |
|
Nigeria |
Electricity Generation (Billion Kwh) |
8.19 |
7.87 |
7.63 |
6.34 |
6.76 |
| Electricity Consumption (Billion Kwh) |
8.19 |
7.87 |
7.63 |
6.34 |
6.76 |
|
| Bio-fuels Production (Thousands Barrel/day) |
0 |
0 |
0 |
0 |
0 |
|
| Bio-fuels Consumption (Thousands Barrel/day) |
0 |
0 |
0 |
0.34 |
0.52 |
F.3.1 Renewable Electric Generation by Type (Billion Kilowatt-hours)
|
Country |
Renewable Product |
2004 |
2005 |
2006 |
2007 |
2008 |
|
|
Nigeria |
Hydroelectric |
8.19 |
7.87 |
7.63 |
6.34 |
6.76 |
|
|
Non-Hydroelectric Renewable |
Geothermal |
0 |
0 |
0 |
0 |
0 |
|
| Wind |
0 |
0 |
0 |
0 |
0 |
||
| Solar, Tide and Wave |
0 |
0 |
0 |
0 |
0 |
||
| Biomass and Waste |
0 |
0 |
0 |
0 |
0 |
||
F.3.2 Renewable Bio-fuels Production by Type (Thousand Barrels per Day)
|
Country |
Renewable Product |
2004 |
2005 |
2006 |
2007 |
2008 |
|
Nigeria |
Fuel Ethanol |
0 |
0 |
0 |
0 |
0 |
| Bio-diesels |
0 |
0 |
0 |
0 |
0 |
