Attribute | Value |
---|---|
Geography | |
Area | 923,768 km² |
Continent | Africa |
Land area | 910,768 km² |
Water area | 13,000 km² |
Land boundaries | 4,477 km |
Border countries |
|
Coastline | 853 km |
Mean elevation | 380 m |
Lowest point | 0 m |
Highest point | 2,419 m |
People | |
Population | 214,028,302 |
Official languages |
|
Religion | Muslim |
Government | |
Long country name | Federal Republic of Nigeria |
Short country name | Nigeria |
Long local name | Add |
Short local name | Add |
Former name | Add |
Government type | Federal presidential republic |
Capital | Abuja |
Economy | |
GDP (PPP) | 1,121,000,000,000 USD |
GDP (OER) | 376,400,000,000 USD |
GDP (real growth rate) | 0.8 % |
GDP - per capita (PPP) | 5,900 USD |
Gross national saving | 18.2 % of GDP |
Labor force | 60,080,000 |
Unemployment rate | 16.5 % |
Population below poverty line | 70 % |
Budget revenues | 12,920,000,000 USD |
Budget expenditures | 19,540,000,000 USD |
Military expenditures | 0.51 % of GDP |
Taxes and other revenues | 3.4 % of GDP |
Budget surplus or deficit | -1.8 % of GDP |
Public debt | 21.8 % of GDP |
Inflation rate | 16.5 % |
Central bank discount rate | 4.25 % |
Commercial bank prime lending rate | 17.58 % |
Stock of narrow money | 36,130,000,000 USD |
Stock of broad money | 36,130,000,000 USD |
Stock of domestic credit | 84,660,000,000 USD |
Market value of publicly traded shares | 53,070,000,000 USD |
Current account balance | 10,380,000,000 USD |
Exports | 1,146,000,000 USD |
Imports | 32,670,000,000 USD |
Reserves of foreign exchange and gold | 38,770,000,000 USD |
External debt | 40,960,000,000 USD |
National currency | nairas |
National currency (code) | NGN |
National currency (symbol) | ₦ |
National currency rate to USD | 323.5 |
British influence and control over what would become Nigeria and Africa's most populous country grew through the 19th century. A series of constitutions after World War II granted Nigeria greater autonomy. After independence in 1960, politics were marked by coups and mostly military rule, until the death of a military head of state in 1998 allowed for a political transition. In 1999, a new constitution was adopted and a peaceful transition to civilian government was completed. The government continues to face the daunting task of institutionalizing democracy and reforming a petroleum-based economy, whose revenues have been squandered through corruption and mismanagement. In addition, Nigeria continues to experience longstanding ethnic and religious tensions. Although both the 2003 and 2007 presidential elections were marred by significant irregularities and violence, Nigeria is currently experiencing its longest period of civilian rule since independence. The general elections of 2007 marked the first civilian-to-civilian transfer of power in the country's history and the elections of 2011 were generally regarded as credible. The 2015 election was heralded for the fact that the then-umbrella opposition party, the All Progressives Congress, defeated the long-ruling People's Democratic Party that had governed since 1999 and assumed the presidency after a peaceful transfer of power. Successful presidential and legislative elections were held in early 2019.