Nigeria
Info
| Official name | Federal Republic of Nigeria |
|---|---|
| Political capital | Abuja |
| Local currency | Nigerian naira |
| Official languages | Official Language - English Local dialects - Agbor,Auchi, Bariba/Baatonum, Bete, Chamba, Delta Pidgin, Dendi, Edo, (o Addo,Benin, Bini),Eka, Esan(o Ishan), Etsako (o Esako), Hausa, Igbo (o Ibo), Igede (o Egede),Ijaw,Ika, Ikpe (o Ikpeshi) Isoko (o Ukwuani),Kwale Ogbia (o Ogbinja),Pidgin Inglese, Urhobo, Uromi,Yoruba. |
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Why Nigeria
A key regional player in West Africa, with approximately 184 million inhabitants, Nigeria accounts for 47 percent of West Africa’s population, and has one of the largest population of youth in the world. A federation that consists of 36 autonomous states, Nigeria is a multi-ethnic and culturally diverse society. With an abundance of resources, it is Africa’s biggest oil exporter, and also has the largest natural gas reserves on the continent.
The fifth consecutive national elections held in 2015 marked the first time in Nigeria’s history that it saw a peaceful transfer of power between two political parties. The current administration, led by President Muhammadu Buhari, identifies fighting corruption, increasing security, tackling unemployment, diversifying the economy, enhancing climate resilience, and boosting the living standards of Nigerians as main policy priorities. Nigeria’s federated structure gives significant autonomy to states.
Between 2006 and 2016, Nigeria’s GDP grew at an average rate of 5.7 percent per year, as volatile oil prices drove growth to a high of 8 percent in 2006 and to a low of -1.5 percent in 2016. While Nigeria’s economy has performed much better in recent years than it did during previous boom-bust oil-price cycles, such as in the late 1970s or mid-1980s, oil prices continue to dominate the country’s growth pattern
