06 Apr, 2020
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Nigeria

Nigeria (orthographic projection)

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.[/vc_column_text][vc_column_text]

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]

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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

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

None

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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.

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