NIGERIA COUNTRY PROFILE

Africa’s most populous country attained  independence from Britain in 1960. Adoption of  a new constitution in 1999 completed a  peaceful transition to civilian rule. The  government continues to face the daunting  task of institutionalizing democracy and  reforming a petroleum-based economy.

Economic Overview one of the largest West African economies; oil-dependent exports,  revenues, and credit; COVID-19 and oil price shocks have  resulted in slowing growth, high inflation, increasing  unemployment; frequent disruptions due to political instability,  especially in the north GDP (Purchasing Power Parity) $1.251 trillion (2020 est.) GDP per capita (Purchasing Power Parity) $4,900 (2020 est.) 

Industries - crude oil, coal, tin, columbite, rubber products, wood,  hides/skins, textiles, cement/other construction materials, food  products, footwear, chemicals, fertilizer, printing, ceramics, steel Agricultural Products - cassava, yams, maize, oil palm fruit, rice,  vegetables, sorghum, groundnuts, fruit, sweet potatoes 

Exports $39.94 billion (2020 est.) crude petroleum, natural gas, scrap vessels, flexible metal tubing,  cocoa beans (2019) 

Partners: India 16%, Spain 10%, US 7%, France 7%, Netherlands  6% (2019)  Imports $72.18 billion (2020 est.) refined petroleum, cars, wheat, laboratory glassware, packaged  medicines (2019) partners: China 30%, Netherlands 11%, US 6%, Belgium 5%  (2019) 

*Information obtained from CIA.GOV Click on our Country Profile  to get a complete downloadable copy of Nigeria's World Factbook profile.