Nigeria
Economic Overview
Oil-rich Nigeria, long hobbled by political instability, corruption, inadequate infrastructure, and poor macroeconomic management, is undertaking some reforms under a new reform-minded administration. Nigeria's former military rulers failed to diversify the economy away from its overdependence on the capital-intensive oil sector, which provides 20% of GDP, 95% of foreign exchange earnings, and about 65% of budgetary revenues. The largely subsistence agricultural sector has failed to keep up with rapid population growth - Nigeria is Africa's most populous country - and the country, once a large net exporter of food, now must import food. Nigeria depends on loans from IMF and debt forgiveness from the Paris Club, hence has to implement the market-oriented reforms urged by the IMF, such as to modernize the banking system, to curb inflation by blocking excessive wage demands, and to resolve regional disputes over the distribution of earnings from the oil industry.
GDP Growth rate: 5.3% (2006 est.)
GDP - composition by sector:
Trade per capita (US$, 2003-2005): 480
Trade to GDP ratio (2003-2005): 80.8
Exports: $59.01 billion f.o.b. (2006 est.) | Imports: $25.1 billion f.o.b. (2006 est.) |
Exports - commodities: Petroleum and petroleum products 95%, cocoa, rubber | Imports - commodities: Machinery, chemicals, transport equipment, manufactured goods, food and live animals |
Exports - partners: US 49.9%, Spain 8.1%, Brazil 6.3%, France 4.3% (2006) | Imports - partners: China 10.6%, US 8.3%, Netherlands 5.9%, UK 5.7%, France 5.5%, Germany 4.5%, Brazil 4.4% (2006) |
Share in world total merchandise exports: 0.40
Share in world total merchandise imports: 0.16
Share in world total commercial services exports: 0.17
Share in world total commercial services imports: 0.31
Indicators
HEALTH | EDUCATIONAL | ECONOMIC | POLITICAL
GENERAL INDICATORS | ||
| HDI Rank | 159 | |
| GDP (US $ Bill.) | 2004 | 72.1 |
| GDP (PPP US $ Bill.) | 2004 | 148.6 |
| GDP Per Capita (PPP US $) | 2004 | 1154 |
| GDI Rank | 120 | |
| GDI Value | 0.443 | |
| GEM Rank | .. | |
| GEM Value | .. | |
| Total Population (Mill.) | 1975 | 58.9 |
| 2004 | 128.7 | |
| 2015a | 160.9 | |
| Total Female Population (in '000) | 2006 | 66328 |
| Population living below $ 1 a day in Percentage | 1990-2004 | 70.8 |
| Population living below the national poverty line in Percentage | 1990-2003 | 34.1 |
| Total Fertility Rate (Births per Woman) | 1970-75 | 6.9 |
| 2000-05 | 5.8 | |
| Maternal Mortality Ratio (Adjusted per 100000 live births) | 2000 | 800 |
| Probability of Female Survival at birth to 65 yrs | 2000-05 | 33.2 |
| Probability of Male Survival at birth to 65 yrs | 2000-05 | 31.6 |
| Life Expectancy at Birth (years) | 2004 | 43.4 |
| Female Life Expectancy at Birth (Yrs) | 43.5 | |
| Male Life Expectancy at Birth (Yrs) | 43.2 | |
| Population without sustainable access to safe water in Percentage | 2004 | 52 |
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| Combined Gross Enrolment Ratio* in Percentage | 2004 | 55 |
| Combined Gross Enrolment Ratio* (F) in Percentage | 50 | |
| Combined Gross Enrolment Ratio* (M) in Percentage | 60 | |
| Female Legislators, Officials & Managers (% of Total) | .. | |
| Female Professionals & Technical Workers (% of Total) | .. | |
| Adult Literacy Rate (% ages 15 and older) | 2004 | .. |
| Female Adult Literacy Rate ( % ages 15 and older) | .. | |
| Female Adult Literacy Rate (as % of Male Rate) | .. | |
| Female Youth Literacy Rate (% ages 15-24) | .. | |
| Female Youth Literacy Rate (as % of Male Rate) | .. | |
| Net Primary Enrolment Female Ratio (in %) | 57 | |
| Net Primary Enrolment Ratio of Female to Male | 0.89 | |
| Net Secondary Enrolement Female Ratio (in %) | 25 | |
| Net Secondary Enrolment Ratio of Female to Male | 0.83 | |
| Gross Tertiary Enrolment Female Ratio (in %) | 7 | |
| Gross Tertiary Enrolment Ratio Female to Male | 0.55 | |
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| Estimated Female Earned Income( PPP US$) | 669 | |
| Estimated Male Earned Income (PPP US $) | 1628 | |
| Ratio of Female to Male Estimated Earned Income | 0.41 | |
| Female Economic Activity Rate (% ages 15 and older) | 45.6 | |
| Female Economic Activity ( index, 1990=100, ages 15 and older) | 95 | |
| Female Economic Activity ( as % of male rates, ages 15 and older) | 54 | |
| Female Employment Agriculture (%) | 2 | |
| Male Employment Agriculture (%) | 4 | |
| Female Employment Industry (%) | 11 | |
| Male Employment Industry (%) | 30 | |
| Female Employment Services (%) | 87 | |
| Male Employment in Services (%) | 67 | |
| Women Contributing Family Workers (%) | .. | |
| Men Contributing Family Workers (%) | .. | |
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| Seats in Parliament (Women as % of Total) | 5.8 | |
| Female Suffrage Granted (Year) | 1958 | |
| Elections Contesting Rights (Year) | 1958 | |
| Year of First Woman Elected (A=Appointed, E=Elected) | .. | |
| Women Ministers (as % of total) | 10 | |
| Seats held in Lower/Single House by Women (as % of Total) | 6.4 | |
| Seats held in Upper House/Senate by Women (as % of Total) | 3.7 | |
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Source : UNDP HDR 2006
Notes:
.. Data Not Available
a.Data refer to medium-variant projections.
* For Primary, Secondary and Tertiary Schools
