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)
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