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Economy of Nigeria. All values, unless otherwise stated, are in US dollars. Change in per capita GDP of Nigeria, 1950–2018. Figures are inflation-adjusted to 2011 International Geary-Khamis dollars. The economy of Nigeria is a middle-income, mixed economy and emerging market [27][28] with expanding manufacturing, financial, service ...
Nigeria's economy is the fourth-largest in Africa, the 53rd-largest in the world by nominal GDP, and 27th-largest by PPP. Nigeria is often referred to as the Giant of Africa owing to its large population and economy, [20] and is considered to be an emerging market by the World Bank.
PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP. [4] On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures. [5]
Nigeria and China agreed to strengthen ties in the Belt and Road initiative, human resources development and nuclear energy after the countries' leaders met on Tuesday, a government spokesperson said.
Rank State GDP (tril. ₦) GDP (bil. US$) GDP PPP (bil. int$) GDP per capita (US$) GDP per capita PPP (int$) 1 Lagos State: ₦41.17 102.01 266.55 6,614
Since 1987, Nigeria has participated in IMF loan arrangements on February 3, 1989, January 9, 1991, August 4, 2000, and most recently, in 2020, a $3.4 billion IMF loan, reaching 100 percent of its national quota. [6] Ultimately, in 1986, Nigeria decided against supporting the $2.4 billion loan from the IMF due to political tensions and the ...
Nigerian. Alma mater. University of London. University of Sussex. Occupation. Economist. investment banker. politician. Chief Adebayo Olawale Edun, commonly known as Wale Edun, [1] is a Nigerian economist, investment banker and politician who is the minister of finance and coordinating minister of the economy since August 2023.
The Economic Community of West African States (ECOWAS) is a regional, political and economic union of fifteen countries in West Africa, covering an area of 5,114,162 km 2 (1,974,589 sq mi) and with an estimated population of over 387 million in 2019. Established in 1975, ECOWAS aims to achieve collective self-sufficiency for its member states ...