log in
All Countries

Nigeria Business Guide


Geography


Location:
Western Africa, bordering the Gulf of Guinea, between Benin and Cameroon


Geographic coordinates:
10 00 N, 8 00 E


Map references:
Africa


Area:
total:923,768 sq kmcountry comparison to the world: 32
land:910,768 sq km
water:13,000 sq km


Area - comparative:
slightly more than twice the size of California


Land boundaries:
total:4,047 km
border countries:Benin 773 km, Cameroon 1,690 km, Chad 87 km, Niger 1,497 km


Coastline:
853 km


Maritime claims:
territorial sea:12 nm
exclusive economic zone:200 nm
continental shelf:200 m depth or to the depth of exploitation


Climate:
varies; equatorial in south, tropical in center, arid in north


Terrain:
southern lowlands merge into central hills and plateaus; mountains in southeast, plains in north


Elevation extremes:
lowest point:Atlantic Ocean 0 m
highest point:Chappal Waddi 2,419 m


    Natural resources:
natural gas, petroleum, tin, iron ore, coal, limestone, niobium, lead, zinc, arable land


Land use:
arable land:38.97%
permanent crops:3.46%
other:57.57% (2011)


Irrigated land:
2,932 sq km (2004)


Total renewable water resources:
286.2 cu km (2011)


Freshwater withdrawal (domestic/industrial/agricultural):
286.2 cu km (2011)

Natural hazards:
periodic droughts; flooding


Environment - current issues:
soil degradation; rapid deforestation; urban air and water pollution; desertification; oil pollution - water, air, and soil; has suffered serious damage from oil spills; loss of arable land; rapid urbanization


Environment - international agreements:
party to:Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Dumping, Marine Life Conservation, Ozone Layer Protection, Ship Pollution, Wetlands
signed, but not ratified:none of the selected agreements


Geography - note:
the Niger enters the country in the northwest and flows southward through tropical rain forests and swamps to its delta in the Gulf of Guinea



People and Society


Nationality:
noun: Nigerian(s)
adjective:Nigerian


Ethnic groups:
Nigeria, Africa's most populous country, is composed of more than 250 ethnic groups; the following are the most populous and politically influential: Hausa and Fulani 29%, Yoruba 21%, Igbo (Ibo) 18%, Ijaw 10%, Kanuri 4%, Ibibio 3.5%, Tiv 2.5%


Languages:
English (official), Hausa, Yoruba, Igbo (Ibo), Fulani, over 500 additional indigenous languages


Religions:
Muslim 50%, Christian 40%, indigenous beliefs 10%


Population:
177,155,754country comparison to the world: 8
note:estimates for this country explicitly take into account the effects of excess mortality due to AIDS; this can result in lower life expectancy, higher infant mortality, higher death rates, lower population growth rates, and changes in the distribution of population by age and sex than would otherwise be expected (July 2014 est.)



Age structure:
0-14 years:43.2% (male 39,151,304/female 37,353,737)
15-24 years:19.3% (male 17,486,117/female 16,732,533)
25-54 years:30.5% (male 27,697,644/female 26,285,816)
55-64 years:3.9% (male 3,393,631/female 3,571,301)
65 years and over:3% (male 2,621,845/female 2,861,826) (2014 est.)


Dependency ratios:
total dependency ratio:89.2 %
youth dependency ratio:84 %
elderly dependency ratio:5.2 %
potential support ratio:19.3 (2014 est.)


Median age:
total:18.2 years
male:18.1 years
female:18.3 years (2014 est.)


Population growth rate:
2.47% (2014 est.)country comparison to the world: 33


Birth rate:
38.03 births/1,000 population (2014 est.)country comparison to the world: 12


Death rate:
13.16 deaths/1,000 population (2014 est.)country comparison to the world: 19


Net migration rate:
-0.22 migrant(s)/1,000 population (2014 est.)country comparison to the world: 120


Urbanization:
urban population:49.6% of total population (2011)
rate of urbanization:3.75% annual rate of change (2010-15 est.)


Major urban areas - population:
Lagos 11.223 million; Kano 3.375 million; Ibadan 2.949 million; ABUJA (capital) 2.153 million; Port Harcourt 1.894 million; Kaduna 1.524 million (2011)


Sex ratio:
at birth:1.06 male(s)/female
0-14 years:1.05 male(s)/female
15-24 years:1.05 male(s)/female
25-54 years:1.05 male(s)/female
55-64 years:1.04 male(s)/female
65 years and over:0.85 male(s)/female
total population:1.01 male(s)/female (2014 est.)


    Mother's mean age at first birth:
20.3


Maternal mortality rate:
630 deaths/100,000 live births (2010)


Infant mortality rate:
total:74.09 deaths/1,000 live birthscountry comparison to the world: 10
male:79.02 deaths/1,000 live births
female:68.87 deaths/1,000 live births (2014 est.)


Life expectancy at birth:
total population:52.62 yearscountry comparison to the world: 212
male:51.63 years
female:53.66 years (2014 est.)


Total fertility rate:
5.25 children born/woman (2014 est.)country comparison to the world: 13


Contraceptive prevalence rate:
14.1% (2011)


Health expenditures:
5.3% of GDP (2011)


Physicians density:
0.4 physicians/1,000 population (2008)


Hospital bed density:
0.53 beds/1,000 population (2004)


Drinking water source:
improved:
urban: 78.8% of population
rural: 49.1% of population
total: 64% of population
unimproved:
urban: 21.2% of population
rural: 50.9% of population
total: 36% of population (2012 est.)


Sanitation facility access:
improved:
urban: 30.8% of population
rural: 24.7% of population
total: 27.8% of population
unimproved:
urban: 69.2% of population
rural: 75.3% of population
total: 72.2% of population (2012 est.)


HIV/AIDS - adult prevalence rate:
3.1% (2012 est.)country comparison to the world: 20


HIV/AIDS - people living with HIV/AIDS:
3,426,600 (2012 est.)country comparison to the world: 2


HIV/AIDS - deaths:
239,700 (2012 est.)country comparison to the world: 1


Major infectious diseases:


Obesity - adult prevalence rate:
6.5% (2008)country comparison to the world: 146


Children under the age of 5 years underweight:
24.4% (2011)country comparison to the world: 26


Education expenditures:
NA

Literacy:
definition:age 15 and over can read and write
total population:61.3%
male:72.1%
female:50.4% (2010 est.)


School life expectancy (primary to tertiary education):
total:9 years
male:10 years
female:8 years (2005)


Child labor - children ages 5-14:



Government


Country name:
conventional long form: Federal Republic of Nigeria
conventional short form:Nigeria


Government type:
federal republic


Capital:
name:Abuja
geographic coordinates:9 05 N, 7 32 E
time difference:UTC+1 (6 hours ahead of Washington, DC, during Standard Time)


Administrative divisions:
36 states and 1 territory*; Abia, Adamawa, Akwa Ibom, Anambra, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, Edo, Ekiti, Enugu, Federal Capital Territory*, Gombe, Imo, Jigawa, Kaduna, Kano, Katsina, Kebbi, Kogi, Kwara, Lagos, Nasarawa, Niger, Ogun, Ondo, Osun, Oyo, Plateau, Rivers, Sokoto, Taraba, Yobe, Zamfara


Independence:
1 October 1960 (from the UK)


National holiday:
Independence Day (National Day), 1 October (1960)


Constitution:
several previous; latest adopted 5 May 1999, effective 29 May 1999; amended 2010 (2010)


Legal system:
mixed legal system of English common law, Islamic law (in 12 northern states), and traditional law


International law organization participation:
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction


Suffrage:
18 years of age; universal


Executive branch:
chief of state:President Goodluck JONATHAN (since 5 May 2010, acting since 9 February 2010); Vice President Mohammed Namadi SAMBO (since 19 May 2010); note - the president is both chief of state and head of government; JONATHAN assumed the presidency on 5 May 2010 following the death of President YAR'ADUA; JONATHAN was elected president on 16 April 2011
head of government:President Goodluck JONATHAN (since 5 May 2010, acting since 9 February 2010); Vice President Mohammed Namadi SAMBO (since 19 May 2010)
cabinet:Federal Executive Council
elections:president elected by popular vote for a four-year term (eligible for a second term); election last held on 16 April 2011 (next to be held in February 2015)
election results:Goodluck JONATHAN elected president; percent of vote - Goodluck JONATHAN 58.9%, Muhammadu BUHARI 32.0%, Nuhu RIBADU 5.4%, Ibrahim SHEKARAU 2.4%, other 1.3%


Legislative branch:
bicameral National Assembly consists of the Senate (109 seats, 3 from each state plus 1 from Abuja; members elected by popular vote to serve four-year terms) and House of Representatives (360 seats; members elected by popular vote to serve four-year terms)
elections:Senate - last held on 9 and 26 April 2011 (next to be held in February 2015); House of Representatives - last held on 9 and 26 April 2011 (next to be held in February 2015)
election results:Senate - percent of vote by party - NA; seats by party - PDP 73, ACN 17, ANPP 7, CPC 6, LP 4, other 2; House of Representatives - percent of vote by party - NA; seats by party - PDP 205, ACN 69, CPC 36, ANPP 28, LP 9, APGA 6, ACC 5, other 2; note - due to logistical problems elections in a number of constituencies were held on 26 April 2011


Judicial branch:
highest court(s):Supreme Court (consists of the chief justice and 15 justices)
judge selection and term of office:judges appointed by the president on the recommendation of the National Judicial Council, a 23-member independent body of federal and state judicial officials; judge appointments confirmed by the Senate; judges serve until age 65
subordinate courts:Court of Appeal; Federal High Court; High Court of the Federal Capital Territory; Sharia Court of Appeal of the Federal Capital Territory; Customary Court of Appeal of the Federal Capital Territory; state court system similar in structure to federal system


    Political parties and leaders:
Accord Party or ACC [Mohammad Lawal MALADO]
Action Congress of Nigeria or ACN [Adebisi Bamidele AKANDE]
All Nigeria Peoples Party or ANPP [Ogbonnaya C. ONU]
All Progressives Congress [Adebisi Bamidele AKANDE, acting]
All Progressives Grand Alliance or APGA [Victor C. UMEH]
Congress for Progressive Change or CPC [Tony MOMOH]
Democratic Peoples Party or DPP [Biodun OGUNBIYI]
Labor Party [Chief Dan NWANYANWU]
Peoples Democratic Party or PDP [Adamu MU'AZU]


Political pressure groups and leaders:
Academic Staff Union for Universities or ASUU


International organization participation:
ACP, AfDB, AU, C, CD, D-8, ECOWAS, EITI (compliant country), FAO, G-15, G-24, G-77, IAEA, IBRD, ICAO, ICC (national committees), ICRM, IDA, IDB, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, MINURSO, MINUSMA, MONUSCO, NAM, OAS (observer), OIC, OPCW, OPEC, PCA, UN, UN Security Council (temporary), UNAMID, UNCTAD, UNESCO, UNHCR, UNIDO, UNIFIL, UNISFA, UNITAR, UNMIL, UNMISS, UNOCI, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO


Diplomatic representation in the US:
chief of mission:Ambassador Adebowale Ibidapo ADEFUYE (since 26 March 2010)
chancery:3519 International Court NW, Washington, DC 20008
telephone:[1] (202) 986-8400
FAX:[1] (202) 362-6541
consulate(s) general:Atlanta, New York


Diplomatic representation from the US:
chief of mission:Ambassador James F. ENTWISTLE (since 28 October 2013)
embassy:Plot 1075 Diplomatic Drive, Central District Area, Abuja
mailing address:P. O. Box 5760, Garki, Abuja
telephone:[234] (9) 461-4000
FAX:[234] (9) 461-4171


Flag description:
three equal vertical bands of green (hoist side), white, and green; the color green represents the forests and abundant natural wealth of the country, white stands for peace and unity


National symbol(s):
eagle


National anthem:
name:'Arise Oh Compatriots, Nigeria's Call Obey'

lyrics/music:John A. ILECHUKWU, Eme Etim AKPAN, B. A. OGUNNAIKE, Sotu OMOIGUI and P. O. ADERIBIGBE/Benedict Elide ODIASE
note:adopted 1978; the lyrics are a mixture of five of the top entries in a national contest


Economy


Economy - overview:
Following an April 2014 statistical 'rebasing' exercise, Nigeria has emerged as Africa's largest economy, with 2013 GDP estimated at US$ 502 billion. Oil has been a dominant source of government revenues since the 1970s. Regulatory constraints and security risks have limited new investment in oil and natural gas, and Nigeria's oil production contracted in 2012 and 2013. Nevertheless, the Nigerian economy has continued to grow at a rapid 6-8% per annum (pre-rebasing), driven by growth in agriculture, telecommunications, and services, and the medium-term outlook for Nigeria is good, assuming oil output stabilizes and oil prices remain strong. Fiscal authorities pursued countercyclical policies in 2011-2013, significantly reducing the budget deficit. Monetary policy has also been responsive and effective. Following the 2008-9 global financial crises, the banking sector was effectively recapitalized and regulation enhanced. Despite its strong fundamentals, oil-rich Nigeria has been hobbled by inadequate power supply, lack of infrastructure, delays in the passage of legislative reforms, an inefficient property registration system, restrictive trade policies, an inconsistent regulatory environment, a slow and ineffective judicial system, unreliable dispute resolution mechanisms, insecurity, and pervasive corruption. Economic diversification and strong growth have not translated into a significant decline in poverty levels - over 62% of Nigeria's 170 million people live in extreme poverty. President JONATHAN has established an economic team that includes experienced and reputable members and has announced plans to increase transparency, continue to diversify production, and further improve fiscal management. The government is working to develop stronger public-private partnerships for roads, agriculture, and power.


GDP (purchasing power parity):
$478.5 billion (2013 est.)
country comparison to the world: 31
$450.4 billion (2012 est.)
$422.6 billion (2011 est.)
note:data are in 2013 US dollars


GDP (official exchange rate):
$502 billion (2013 est.)


GDP - real growth rate:
6.2% (2013 est.)
country comparison to the world: 35
6.6% (2012 est.)
7.4% (2011 est.)


GDP - per capita (PPP):
$2,800 (2013 est.)
country comparison to the world: 180
$2,700 (2012 est.)
$2,600 (2011 est.)
note:data are in 2013 US dollars


Gross national saving:
15.5% of GDP (2013 est.)
country comparison to the world: 106
15.9% of GDP (2012 est.)
15.4% of GDP (2011 est.)


GDP - composition, by end use:
household consumption:50.3%
government consumption:12.8%
investment in fixed capital:9.8%
investment in inventories:0%
exports of goods and services:49.9%
imports of goods and services:-22.8%
(2013 est.)


GDP - composition, by sector of origin:
agriculture:30.9%
industry:43%
services:26% (2012 est.)


Agriculture - products:
cocoa, peanuts, cotton, palm oil, corn, rice, sorghum, millet, cassava (manioc, tapioca), yams, rubber; cattle, sheep, goats, pigs; timber; fish


Industries:
crude oil, coal, tin, columbite; rubber products, wood; hides and skins, textiles, cement and other construction materials, food products, footwear, chemicals, fertilizer, printing, ceramics, steel


Industrial production growth rate:
0.9% (2013 est.)
country comparison to the world: 153

Labor force:
51.53 million (2011 est.)
country comparison to the world: 12


Labor force - by occupation:
agriculture:70%
industry:10%
services:20% (1999 est.)


Unemployment rate:
23.9% (2011 est.)
country comparison to the world: 172
4.9% (2007 est.)


Population below poverty line:
70% (2010 est.)


Household income or consumption by percentage share:
lowest 10%:1.8%
highest 10%:38.2% (2010 est.)


    Distribution of family income - Gini index:
43.7 (2003)
country comparison to the world: 47
50.6 (1997)


Budget:
revenues:$23.85 billion
expenditures:$31.51 billion (2013 est.)


Taxes and other revenues:
4.8% of GDP (2013 est.)
country comparison to the world: 212

Budget surplus (+) or deficit (-):
-1.5% of GDP (2013 est.)
country comparison to the world: 73


Public debt:
19.3% of GDP (2013 est.)
country comparison to the world: 136
17.9% of GDP (2012 est.)


Fiscal year:
calendar year


Inflation rate (consumer prices):
8.7% (2013 est.)
country comparison to the world: 201
12.2% (2012 est.)


Central bank discount rate:
4.25% (31 December 2010 est.)
country comparison to the world: 59
6% (31 December 2009 est.)


Commercial bank prime lending rate:
15.5% (31 December 2013 est.)
country comparison to the world: 31
16.79% (31 December 2012 est.)


Stock of narrow money:
$46.48 billion (31 December 2013 est.)
country comparison to the world: 48
$44.41 billion (31 December 2012 est.)


Stock of broad money:
$98.75 billion (31 December 2013 est.)
country comparison to the world: 53
$96.34 billion (31 December 2012 est.)


Stock of domestic credit:
$93.46 billion (31 December 2013 est.)
country comparison to the world: 52
$93.5 billion (31 December 2012 est.)


Market value of publicly traded shares:
$56.39 billion (31 December 2012 est.)


Current account balance:
$16.16 billion (2013 est.)
country comparison to the world: 19
$20.35 billion (2012 est.)


Exports:
$93.55 billion (2013 est.)
country comparison to the world: 38
$95.68 billion (2012 est.)


Exports - commodities:
petroleum and petroleum products 95%, cocoa, rubber


Exports - partners:
US 16.8%, India 11.5%, Netherlands 8.6%, Spain 7.8%, Brazil 7.6%, UK 5.1%, Germany 4.9%, Japan 4.1%, France 4.1% (2012)


Imports:
$55.98 billion (2013 est.)
country comparison to the world: 52
$53.36 billion (2012 est.)


Imports - commodities:
machinery, chemicals, transport equipment, manufactured goods, food and live animals


Imports - partners:
China 18.3%, US 10.1%, India 5.5% (2012)


Reserves of foreign exchange and gold:
$47.7 billion (31 December 2013 est.)
country comparison to the world: 43
$46.41 billion (31 December 2012 est.)


Debt - external:
$15.73 billion (31 December 2013 est.)
country comparison to the world: 86
$13.4 billion (31 December 2012 est.)


Stock of direct foreign investment - at home:
$84.56 billion (31 December 2013 est.)
country comparison to the world: 45
$76.75 billion (31 December 2012 est.)


Stock of direct foreign investment - abroad:
$9.212 billion (31 December 2013 est.)
country comparison to the world: 55
$7.444 billion (31 December 2012 est.)


Exchange rates:
nairas (NGN) per US dollar -
156.8 (2013 est.)
156.81 (2012 est.)
150.3 (2010 est.)
148.9 (2009)
117.8 (2008)


Energy


Electricity - production:
24.87 billion kWh (2010 est.)
country comparison to the world: 68


Electricity - consumption:
20.38 billion kWh (2010 est.)
country comparison to the world: 69


Electricity - exports:
0 kWh (2012 est.)
country comparison to the world: 177


Electricity - imports:
0 kWh (2012 est.)
country comparison to the world: 179


Electricity - installed generating capacity:
5.9 million kW (2010 est.)
country comparison to the world: 73


Electricity - from fossil fuels:
67.1% of total installed capacity (2010 est.)
country comparison to the world: 113


Electricity - from nuclear fuels:
0% of total installed capacity (2010 est.)
country comparison to the world: 151


Electricity - from hydroelectric plants:
32.8% of total installed capacity (2010 est.)
country comparison to the world: 70


Electricity - from other renewable sources:
0% of total installed capacity (2010 est.)
country comparison to the world: 209


Crude oil - production:
2.524 million bbl/day (2012 est.)
country comparison to the world: 12


Crude oil - exports:
2.341 million bbl/day (2010 est.)
country comparison to the world: 5


Crude oil - imports:
0 bbl/day (2010 est.)
country comparison to the world: 104


    Crude oil - proved reserves:
37.2 billion bbl (1 January 2013 est.)
country comparison to the world: 10


Refined petroleum products - production:
101,300 bbl/day (2010 est.)
country comparison to the world: 72


Refined petroleum products - consumption:
271,600 bbl/day (2011 est.)
country comparison to the world: 46


Refined petroleum products - exports:
18,750 bbl/day (2010 est.)
country comparison to the world: 72


Refined petroleum products - imports:
151,700 bbl/day (2010 est.)
country comparison to the world: 38


Natural gas - production:
31.36 billion cu m (2011 est.)
country comparison to the world: 29


Natural gas - consumption:
5.03 billion cu m (2010 est.)
country comparison to the world: 62


Natural gas - exports:
25.96 billion cu m (2011 est.)
country comparison to the world: 16


Natural gas - imports:
0 cu m (2011 est.)
country comparison to the world: 105


Natural gas - proved reserves:
5.153 trillion cu m (1 January 2013 est.)
country comparison to the world: 9


Carbon dioxide emissions from consumption of energy:
75.96 million Mt (2011 est.)



Communications


Telephones - main lines in use:
418,200 (2012)
country comparison to the world: 102


Telephones - mobile cellular:
112.78 million (2012)
country comparison to the world: 10


Telephone system:
general assessment:further expansion and modernization of the fixed-line telephone network is needed; network quality remains a problem
domestic:the addition of a second fixed-line provider in 2002 resulted in faster growth but subscribership remains only about 1 per 100 persons; mobile-cellular services growing rapidly, in part responding to the shortcomings of the fixed-line network; multiple cellular providers operate nationally with subscribership base approaching 60 per 100 persons
international:country code - 234; landing point for the SAT-3/WASC fiber-optic submarine cable that provides connectivity to Europe and Asia; satellite earth stations - 3 Intelsat (2 Atlantic Ocean and 1 Indian Ocean) (2010)



    Broadcast media:
nearly 70 federal government-controlled national and regional TV stations; all 36 states operate TV stations; several private TV stations operational; cable and satellite TV subscription services are available; network of federal government-controlled national, regional, and state radio stations; roughly 40 state government-owned radio stations typically carry their own programs except for news broadcasts; about 20 private radio stations; transmissions of international broadcasters are available (2007)


Internet country code:
.ng


Internet hosts:
1,234 (2012)
country comparison to the world: 169


Internet users:
43.989 million (2009)
country comparison to the world: 9



Transportation


Airports
54 (2013)
country comparison to the world: 87


Airports - with paved runways
total:40
over 3,047 m:10
2,438 to 3,047 m:12
1,524 to 2,437 m:9
914 to 1,523 m:6
under 914 m:3 (2013)


Airports - with unpaved runways
total:14
1,524 to 2,437 m:2
914 to 1,523 m:9
under 914 m:
3 (2013)


Heliports
5 (2013)


Pipelines
condensate 124 km; gas 4,045 km; liquid petroleum gas 164 km; oil 4,441 km; refined products 3,940 km (2013)


Railways
total:3,505 kmcountry comparison to the world: 50
narrow gauge:3,505 km 1.067-m gauge (2008)


    Roadways
total:193,200 kmcountry comparison to the world: 27
paved:28,980 km
unpaved:164,220 km (2004)


Waterways
8,600 km (Niger and Benue rivers and smaller rivers and creeks) (2011)
country comparison to the world: 15


Merchant marine
total:89country comparison to the world: 54
by type:cargo 2, chemical tanker 28, liquefied gas 1, passenger/cargo 1, petroleum tanker 56, specialized tanker 1
foreign-owned:3 (India 1, UK 2)
registered in other countries:33 (Bahamas 2, Bermuda 11, Comoros 1, Italy 1, Liberia 4, North Korea 1, Panama 6, Seychelles 1, unknown 6) (2010)



Ports and terminals
major seaport(s):Bonny Inshore Terminal, Calabar, Lagos

Transportation - note
the International Maritime Bureau reports the territorial and offshore waters in the Niger Delta and Gulf of Guinea as high risk for piracy and armed robbery against ships; in 2012, 27 commercial vessels were boarded or attacked compared with 10 attacks in 2011; crews were robbed and stores or cargoes stolen; Nigerian pirates have extended the range of their attacks to as far away as Cote d'Ivoire



Military


Military branches
Nigerian Armed Forces: Army, Navy, Air Force (2013)


Military service age and obligation
18 years of age for voluntary military service; no conscription (2012)


Manpower available for military service
males age 16-49:37,087,711
females age 16-49:35,232,127 (2010 est.)


Manpower fit for military service
males age 16-49:20,839,976
females age 16-49:19,867,683 (2010 est.)


    Manpower reaching militarily significant age annually
male:1,767,428
female:1,687,719 (2010 est.)


Military expenditures
0.89% of GDP (2012)
country comparison to the world: 109
0.98% of GDP (2011)
0.89% of GDP (2010)


Transnational Issues


Disputes - international
Joint Border Commission with Cameroon reviewed 2002 ICJ ruling on the entire boundary and bilaterally resolved differences, including June 2006 Greentree Agreement that immediately cedes sovereignty of the Bakassi Peninsula to Cameroon with a phase-out of Nigerian control within two years while resolving patriation issues; the ICJ ruled on an equidistance settlement of Cameroon-Equatorial Guinea-Nigeria maritime boundary in the Gulf of Guinea, but imprecisely defined coordinates in the ICJ decision and a sovereignty dispute between Equatorial Guinea and Cameroon over an island at the mouth of the Ntem River all contribute to the delay in implementation; only Nigeria and Cameroon have heeded the Lake Chad Commission's admonition to ratify the delimitation treaty which also includes the Chad-Niger and Niger-Nigeria boundaries; location of Benin-Niger-Nigeria tripoint is unresolved


    Refugees and internally displaced persons
IDPs:3.3 million (Boko Haram attacks and counterinsurgency efforts in northern Nigeria; communal violence between Christians and Muslims in the middle belt region, political violence; flooding; forced evictions; cattle rustling; competition for resources; displacement is mostly short-term) (2014)


Illicit drugs
a transit point for heroin and cocaine intended for European, East Asian, and North American markets; consumer of amphetamines; safe haven for Nigerian narcotraffickers operating worldwide; major money-laundering center; massive corruption and criminal activity; Nigeria has improved some anti-money-laundering controls, resulting in its removal from the Financial Action Task Force's (FATF's) Noncooperative Countries and Territories List in June 2006; Nigeria's anti-money-laundering regime continues to be monitored by FATF

Information provided by CIA - The World Fact Book



Doing Business in Nigeria 2017


           
 

 
Nigeria

  Ease of Doing Business Rank
Overall DTF
169
44.63
 
 
Starting a Business (rank)
138
 
 
Protecting Minority Investors (rank)
7.0
 
  DTF
78.62
 
  DTF
6.0
 
  Procedures - Men (number)
8.7
 
  Strength of minority investor protection index (0-10)
6.0
 
  Time - Men (number)
25.2
 
  Extent of conflict of interest regulation index (0-10)
5.0
 
  Cost - Men (days)
31.0
 
  Extent of disclosure index (0-10)
7.0
 
  Procedures - Women (days)
8.7
 
  Extent of director liability index (0-10)
182
 
  Time - Women (% of income per capita)
25.2
 
  Ease of shareholder suits index (0-10)
28.09
 
  Cost - Women (% of income per capita)
31.0
 
  Extent of shareholder governance index (0-10)
59.0
 
  Paid-in min. capital (% of income per capita)
0.0
 
  Extent of shareholder rights index (0-10)
907.9
 
 

 
  Extent of ownership and control index (0-10)
34.3
 
  Dealing with Construction Permits (rank)
174
 
  Extent of corporate transparency index (0-10)
17.2
 
  DTF
49.63
 
 

 
  Procedures (number)
16.1
 
  Paying Taxes (rank)
181
 
  Time (days)
106.3
 
  DTF
19.93
 
  Cost (% of warehouse value)
23.6
 
  Payments (number per year)
135
 
  Building Quality Control Index(0-15)
6.8
 
  Time (hours per year)
786
 
  Quality of building regulations index (0-2)
0.0
 
  Total tax rate (% of profit)
131
 
  Quality control before construction index (0-1)
0.0
 
  Profit tax (% of profit)
250
 
  Quality control during construction index (0-3)
0.0
 
  Labor tax and contributions (% of profit)
284
 
  Quality control after construction index (0-3)
0.0
 
  Other taxes (% of profit)
1077
 
  Liability and insurance regimes index (0-2)
0.0
 
  Postfiling index (0-100)
173
 
  Professional certifications index (0-4)
0.0
 
 
 
 
   
 
 
  Trading Across Borders (rank)
564
 
  Getting Electricity (rank)
180
 
  DTF
139
 
  DTF
29.43
 
  Time to export: Border compliance (hours)
48.59
 
  Procedures (number)
9.0
 
  Cost to export: Border compliance (USD)
509.8
 
  Time (days)
195.2
 
  Time to export: Documentary compliance (hours)
57.7
 
  Cost (% of income per capita)
422.8
 
  Cost to export: Documentary compliance (hours) (USD)
7.7
 
  Reliability of supply and transparency of tariff index (0-8)
0.0
 
  Time to import: Border compliance (hours)
140
 
  Total duration and frequency of outages per customer a year (0-3)
0.0
 
  Cost to import: Border compliance (USD)
30.60
 
  Mechanisms for monitoring outages (0-1)
0.0
 
  Time to import: Documentary compliance (hours)
27.8
 
  Mechanisms for restoring service (0-1)
1.0
 
  Cost to import: Documentary compliance (USD)
2.0
 
  Regulatory monitoring (0-1)
0.0
 
   
 
 
  Financial deterrents aimed at limiting outages (0-1)
20.1
 
  Enforcing Contracts (rank)
22.0
 
  Communication of tariffs and tariff changes (0-1)
182
 
  DTF
5.0
 
  Price of electricity (US cents per kWh)
31.44
 
  Time (days)

 
   
 
 
  Cost (% of claim)

 
  Registering Property (rank)
12.1
 
  Quality of judicial processes index (0-18)

 
  DTF
69.6
 
   
 
 
  Procedures (number)
10.5
 
  Resolving Insolvency (rank)

 
  Time (days)
6.3
 
  DTF

 
  Cost (% of property value)
0.0
 
  Recovery rate (cents on the dollar)

 
  Quality of the land administration index (0-30)
44
 
  Time (years)

 
  Reliability of infrastructure index (0-8)
65.00
 
  Cost (% of estate)

 
  Transparency of information index (0-6)
7.0
 
  Outcome (0 as piecemeal sale and 1 as going concern)

 
  Geographic coverage index (0-8)
6.0
 
  Strength of insolvency framework index (0-16)

 
  Land dispute resolution index (0-8)
0.1
 
  Commencement of proceedings index (0-3)

 
  Equal access to property rights index (-2-0)
7.7
 
  Management of debtor's assets index (0-6)

 
 
 
 
  Reorganization proceedings index (0-3)

 
  Getting Credit (rank)
32
 
  Creditor participation index (0-4)

 
  DTF
65.00
 
   
 
 
  Strength of legal rights index (0-12)
6.5
 
   
 
 
  Depth of credit information index (0-8)
7.0
 
 
 
 
  Credit registry coverage (% of adults)
7.0
 
   
 
 
  Credit bureau coverage (% of adults)
7.0
 
 
 
 
 

 
   
 
 
 
 
 
 



Information provided by The World Bank Group

 

WSG's members are independent firms and are not affiliated in the joint practice of professional services. Each member exercises its own individual judgments on all client matters.

HOME | SITE MAP | GLANCE | DISCLAIMER |  © World Services Group, 2017