ECONOMIC INFORMATION

 

Advertisement

Population: 135.6m

Population growth: 2.12%

Population density (people per sq. km): 149

UN Human Development Index ranking: 151/177

Gross national income (current US$): $43.0bn (2003)

Gross national income per capita: $320

Advertisement

PPP Gross national income: $122.2bn

PPP Gross national income per capita: $900

GDP growth: 8.3% (2003)

GDP breakdown Agriculture: 37.4%, Industry: 28.85%, Services: 33.8%

Inflation (12-month average): 17.13 (2003)

Gross capital formation as % of GDP: 21.82%

Final consumption expenditure as % of GDP (growth): 82.8% (..%)

Exports of goods & services as % of GDP: 35.8%

Top 3 export markets: US, Spain, India

Local industries: Crude oil, coal, tin, columbite, palm oil, peanuts, cotton, rubber, wood, hides & skins, textiles, cement & other construction materials, food products, footwear, chemicals, fertilizer, printing, ceramics, steel

WEF Growth Competitiveness ranking *: 93/104

WEF Business Competitiveness ranking **: 81/103

WEF Quality of the Business Environment ranking: 80/103

Transparency International Corruption Perceptions ranking: 144/145

Languages : English (official)

 

 

1093.photo.jpg

 

 

FDI INFORMATION

 

 

Region: Sub-Saharan Africa

No. of projects (Jan-Sep 2004): 38

Market-share of projects in the region: 12.6%

Value of projects relative to GDP : 7.6%

Top 3 destination sectors: Energy, food & drink, financial Services

Top 3 business functions: Manufacturing, business services, extraction

Top 3 source countries: UK, US, Greece

Top 3 investors: TotalfinaElf, Fomosa Bottling Company, British American Tobacco

 

 

IPA

Name: Nigerian Investment Promotion Commission

Web address: www.nipc-nigeria.com

* World Economic Forum Growth Competitiveness Ranking assesses an economy’s ability to grow consistently

** World Economic Forum Business Competitiveness Ranking assesses the microeconomic factors that contribute to economic growth

*** The difficulty of hiring workers and the difficulty and expense of firing workers is reflected as an index where the higher the value the more rigid the regulations

Find out more about