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PerspectivesEssays & Columns
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PeopleHeroes & Leaders
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    The Dawn of Everything: A New History of Humanity – A Non-Linear Anarchist Reading of World History
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06 Apr, 2020

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Nigeria

We offer a data-driven country report for Nigeria that explores inter alia population, international trading relationships, energy consumption, GDP growth, current account balances, and R&D investment. Additionally, CFI quotes from the Big Mac Index (courtesy of The Economist) which gives a rough idea of purchasing power parity. Other authoritative sources include The United Nations Conference on Trade and Development, The World Bank, and The International Money Fund. Visit us regularly for updates and new sources of key economic information on Nigeria.

Its population in 2018 was 195,875,237 [1]

In 2015, 86.64% of its total energy
consumption was renewable [2]

In 2021, its GDP grew by 3.65% [2]

In 2021 it had a negative Current
Account Balance of US$bn 3.71 [3]

Its unemployment rate in 2021 was 0.00% [3]

What free trade areas or economic unions is it a member of?

Member of the African Continental Free Trade Area (AfCFTA) since 07/07/2019

Other members:

Benin, Burkina Faso, Cameroon, Chad, Congo, Côte d'Ivoire, Djibouti, Egypt, Equatorial Guinea, Eswatini, Ethiopia, Gabon, Gambia, Ghana, Guinea, Kenya, Mali, Mauritania, Namibia, Niger, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, South Africa, Togo, Uganda, Western Sahara, Zimbabwe

What trade deals are there between African Continental Free Trade Area and other countries and economic unions?

None

Member of the Economic Community of West African States (ECOWAS) since 28/05/1975

Other members:

Benin, Burkina Faso, Cabo Verde, Côte d'Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Senegal, Sierra Leone, Togo

What trade deals are there between Economic Community of West African States and other countries and economic unions?

None

What trade deals are there with other countries and economic unions?

None

CFI.co Meets the CEO of Travant Capital Partners: Sanyade Okoli

Sanyade Okoli returned to Africa in 2006 following nearly two decades of living in the United

World Bank Group: A Promising New Resource for Development – The Potential of Sovereign Wealth Funds

Mobilizing finance for long-term, large-scale direct investment in development is a daunting global challenge. However, a

Chinua Achebe (1930-2013): A Great Tree Has Fallen

In the mid-20th century Africa was starting once more to find its own voice, having been

PwC, South Africa: Entertainment & Media in Africa – On the Move, Changing Shape & Going Mobile

Digitisation and mobile access are changing the landscape of the South African entertainment and media industry.

CFI.co Meets the CEO of Nigerian Breweries: Nicolaas Vervelde

Strong demographics, a growing middle class and cultural acceptance: Brewing beer in Nigeria is a most

Nasir Ahmad El-Rufai, Good Governance Group: Stunted Potentials Hobble Africa’s Giant

These days, Nigeria is often in the news for the wrong reasons. It is a country

Andrew Alli: Helping Unlock a Continent of Opportunity

Africa is still in desperate need of investment. The World Bank estimates that Africa requires $93

Involving Communities to Create Human Networks

Leadership Initiative for Transformation and Empowerment (LITE-Africa) Community Engagement The Leadership Initiative for Transformation and

CFI.co Meets Agha Abani

Mr Agha Abani is the founder and CEO of Harrybeat lnternational Services Limited, an oil and

CFI.co Meets CSL Stockbrokers

Gboyega Balogun (Managing Director) Mr Balogun holds a B.Sc. in Economics and Management from the University

Trade with the United Kingdom

Source: UK Office for National Statistics, October 2022.

Contains public sector information licensed under the Open Government Licence v3.0.