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The economy of Nigeria is a middle-income, mixed economy and emerging market with expanding manufacturing, financial, service, communications, technology, and entertainment sectors. [29] [30] It is ranked as the 53rd-largest economy in the world in terms of nominal GDP , the fourth largest in Africa and the 27th-largest in terms of purchasing ...
The following table presents a listing of Nigeria's 36 states ranked in order of their estimated total GDP in 2021 according to a 2022 report by BudgIT. Rank
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, and is considered to be an emerging market by the World Bank.
Rank Country Nominal GDP (Billion US$) Per Capita (US$) 1 South Africa 400.000: 6,451 2 Egypt 347.594 3,225 3 Algeria 266.780 5,722 4 Nigeria 252.738 1,110 5 Ethiopia 205.130
The economic history of Nigeria falls into three periods. They are the: pre-colonial, the colonial and the post-colonial or independence periods. [1] The pre-colonial period covers the longest the part of Nigerian history. The colonial period covers a period of 60 years, 1900-1960 while the independence period dates from October 1, 1960.
In 2019, the company embarked on one such project as it developed Nigeria’s first real-time election database. Over 2 million Nigerians used it to monitor the general elections.
As of 2021, Nigeria held the position of being the world's sixth-largest producer of natural gas. Due to external international forces, including the war in Ukraine and COVID-19, and internal forces such as high oil subsidies, economic inefficiencies, and plunging oil prices, Nigeria has sought the assistance of the IMF on several occasions ...
A farmer and his cow. The majority of herders in African countries are livestock owners. Livestock farming is a part of Nigeria's agriculture system. In 2017, Nigeria had approximately over 80 million poultry farming, 76 million goats, 43.4 million sheep, 18.4 million cattle, 7.5 million pigs, and 1.4 million of its equivalent.