Economy of Nigeria

Nigeria is a middle income, mixed economy and emerging market, with expanding financial, service, communications, technology and entertainment sectors. It is ranked as the 21st largest economy in the world in terms of nominal GDP, and the 20th largest in terms of Purchasing Power Parity. It is the largest economy in Africa; its re-emergent, though currently underperforming, manufacturing sector is the third-largest on the continent, and produces a large proportion of goods and services for the West African subregion. Nigeria recently changed its economic analysis to account for rapidly growing contributors to its GDP, such as telecommunications, banking, and its film industry.

Previously hindered by years of mismanagement, economic reforms of the past decade have put Nigeria back on track towards achieving its full economic potential. Nigerian GDP at purchasing power parity (PPP) has almost tripled from $170 billion in 2000 to $451 billion in 2012, although estimates of the size of the informal sector (which is not included in official figures) put the actual numbers closer to $630 billion. Correspondingly, the GDP per capita doubled from $1400 per person in 2000 to an estimated $2,800 per person in 2012 (again, with the inclusion of the informal sector, it is estimated that GDP per capita hovers around $3,900 per person). (Population increased from 120 million in 2000 to 160 million in 2010). These figures are to be revised upwards by as much as 80% when metrics are recalculated subsequent to the rebasing of its economy in April 2014.

Nigeria

The Federal Republic of Nigeria, commonly referred to as Nigeria ⁱ/naɪˈdʒɪəriə/, is a federal constitutional republic in West Africa, bordering Benin in the west, Chad and Cameroon in the east, and Niger in the north. Its coast in the south lies on the Gulf of Guinea in the Atlantic Ocean. It comprises 36 states and the Federal Capital Territory, where the capital, Abuja is located. Nigeria is officially a democratic secular country.

Modern-day Nigeria has been the site of numerous kingdoms and tribal states over the millennia. The modern state originated from British colonial rule beginning in the 19th century, and the merging of the Southern Nigeria Protectorate and Northern Nigeria Protectorate in 1914. The British set up administrative and legal structures whilst practising indirect rule through traditional chiefdoms. Nigeria became a formally independent federation in 1960, and plunged into a civil war from 1967 to 1970. It has since alternated between democratically-elected civilian governments and military dictatorships, until it achieved a stable democracy in 1999, with its 2011 presidential elections being viewed as the first to be conducted reasonably freely and fairly.

Nigeria (album)

Nigeria is an album by American jazz guitarist Grant Green featuring performances recorded in 1962 but not released on the Blue Note label until 1980. The tracks were also released in 1997 as part of The Complete Quartets with Sonny Clark.

Reception

The Allmusic review by Michael Erlewine awarded the album 4½ stars and stated "Just classic Green".

Track listing

Personnel

References

Nigeria (disambiguation)

Nigeria is a country in West Africa.

Nigeria or Nigerian may also refer to:

See also