NIGERIA | Overview
Official name: Federal Republic of Nigeria
Official languages: English
Monetary unit: Naira
Population (million): 173
Total area (sq km): 923,768
Located in western of Mainland Africa and fronting the Gulf of Guinea, Nigeria is the biggest economy in Africa and also the largest oil exporter in the region, with the largest natural gas reserves on the continent. The growth of its economy has been impressive over the past decade with average growth of around 6 percent. The progress in economic growth has also caused lower poverty incidence in the country.
Going forward, the Nigerian economy will continue to experience robust growth largely driven by the progress in the non-oil sectors such as services and agriculture on top of oil production. The Nigeria government is working on making the decade-long sustained growth more inclusive and benefit all groups of the population.
Year joined ICD:
Number of projects approved: 5
Gross Approval ($US million): 227.60
Gross Disbursement ($US million): 97.22