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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, communications, technology, and entertainment sectors.
Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference to the standard of living of its population. [3] Comparisons of national wealth are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different ...
Nigeria joined the IMF on March 30, 1961. [1] Nigeria is Africa's most populous country, with 222.182 million citizens. [1] The nation's IMF quota stands at 2454.5 million (SDR) along with its special drawing rights amounting to 3702.34 million (SDR). [1] As of July 2023, Nigeria experienced a 3.2 GDP change. [2]
Lagos is Nigeria’s former capital city and has remained the economic nerve center of the West African country – contributing 30% to its GDP and more than 50 percent of Nigeria’s port ...
In 1989 the World Bank also declared Nigeria poor enough to be eligible (along with countries such as Bangladesh, Ethiopia, Chad, and Mali) for concessional aid from an affiliate, the International Development Association (IDA). Another relevant feature of the Nigerian economy was an abrupt change in the government's share of expenditures.
Nigeria's GDP increase far exceeded the expectations of analysts who had forecast an increase of between 40 and 60 per cent following the rebasing exercise. [ 2 ] As a result of the size change, the stock market capitalization to GDP ratio estimate reduced from 33% to 18% (for comparison, the corresponding ratio for South Africa at the time was ...
Nigeria's economy is the fourth largest in Africa, the 31st-largest in the world by nominal GDP, and 30th-largest by PPP. GDP (PPP) per capita is US$9,148 [155] (as of 2022), which is less than South Africa, Egypt and Morocco, but slightly higher than Ghana and Ivory Coast.
Logo of the Nigeria Vision 2020. Nigeria Vision 2020 (also stylized as NV2020) was a strategic framework for the Federal Republic of Nigeria to develop its economic and political strength to the point by 2020, “Nigeria will be one of the 20 largest economies in the world, able to consolidate its leadership role in Africa and establish itself as a significant player in the global economic and ...