• Nigeria

    Nigeria has emerged as Africa’s largest economy, with 2014 GDP estimated at US$479 billion. Oil has been a dominant source of government revenues since the 1970s. While regulatory constraints and security risks have limited new investment in oil and natural gas, the Nigerian economy has continued to grow at a rapid 6% to 8% per annum (pre-rebasing), driven by growth in agriculture, telecoms and services. The medium-term outlook for Nigeria is good, assuming oil output stabilises and oil prices remain strong.

    Name Federal Republic of Nigeria

    Capital Abuja

    Frequency of elections Every four years

    Name of parliament National Assembly of the Federal Republic of Nigeria

    Parliament website www.nassnig.org

    Languages English, Hausa, Yoruba, Igbo (Ibo), Fulani

    Area 923 768 km2

    Population 177 155 754 (July 2014 est)

    Imports Machinery, chemicals, transport equipment, manufactured goods, food, live animals

    Exports Petroleum and petroleum products, cocoa, rubber

    Currency Naira

    Source: CIA World Factbook
    Image: Gallo/GettyImages