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Nigeria

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Country summary

Capital

Abuja

Borders

Benin 773 km, Cameroon 1,690 km, Chad 87 km, Niger 1,497 km

Government type

federal republic

Population

149,229,090[1]

Population growth

1.999% (2010 est.)[1]

Life expectancy

46.94 years[1]

Unemployment

4.9% (2007 est.)[1]

Index of Economic Freedom

106[2]

Corruption Perceptions Index

130[3]

Doing Business ranking

125[4]


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; independence came in 1960. Following nearly 16 years of military rule, a new constitution was adopted in 1999, and a peaceful transition to civilian government was completed. The government continues to face the daunting task of reforming a petroleum-based economy, whose revenues have been squandered through corruption and mismanagement, and institutionalizing democracy. 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 April 2007 marked the first civilian-to-civilian transfer of power in the country's history. In January 2010, Nigeria assumed a nonpermanent seat on the UN Security Council for the 2010-11 term.[1]

Economical characteristicsEdit

  • Currency: Naira (ISO code: NGN)
  • Central bank discount rate: 6% (31 December 2009)[1]
  • Commercial banks lending rate: 18.36% (31 December 2009 )[1]
  • Stock of money (M1): $35.29 billion (31 December 2008)[1]
  • Quasi money (with M1 makes M2): $32.04 billion (31 December 2008)[1]


StatisticsEdit

Statistic / Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
GDP (million USD)[5] 34 776 45 984 48 000 59 117 67 656 87 845 112 249 146 867 165 921 207 118
Govt. debt (% of GDP)[6]
Govt. revenue (% of GDP)[7]
Govt. expenses (% of GDP)[8]
Debt to revenue (years)

ReferencesEdit

Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.

  1. 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 CIA - The World Facebook. "Nigeria", from The World Facebook. Referenced 2010-10-04.
  2. Heritage Foundation. "Nigeria", Economic Freedom Score. A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-10-04.
  3. Transparency International. "Nigeria", Corruption Perceptions Index 2009. A lower ranking is better; but please note that the numbers cannot be compared between countries or years due to different methodology. Referenced 2010-10-04.
  4. Doing Business. "Nigeria", Doing Business 2010 (part of The World Bank Group). A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-10-04.
  5. World Bank. "Nigeria: GDP", from World Bank Data. Referenced 2010-10-04.
  6. World Bank. "Nigeria: government debt", from World Bank Data. Referenced 2010-10-04.
  7. World Bank. "Nigeria: government revenue", from World Bank Data. Referenced 2010-10-04.
  8. World Bank. "Nigeria: government expenses", from World Bank Data. Referenced 2010-10-04.

External linksEdit

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