- The outlook for growth remains positive. Downside risks include security challenges arising from religious conflict in some states and slower global growth.
- As economic growth is largely driven by capital-intensive sectors, it has not translated into sufficient job creation and poverty remains high. As a result, Nigeria has a low Human Development Index (HDI). The country has made some progress towards attainment of the Millennium Development Goals (MDGs), albeit slowly and unevenly.
- There is a high need to diversify the Nigerian economy into the non-oil sector.This would help expand the sources of growth and make it broad based, both socially and geographically. Further development of agriculture, manufacturing and services could broaden growth, create employment and reduce poverty.
Nigeria country office
African Development Bank Group
Plot 813, Lake Chad Crescent
Phone: (234) 7040277814
Mr Ousmane Dore, Director
|Area:||924,000 sq km|
|Total Population 2012:||166.6 Million|
|Urban Population 2012:||51.24%|
|Female Population 2012:||49.35%|
|GDP:||US$ 287.8 Billion|
|GNI Per Capita 2012:||US$ 1,200|
|Crude Birth Rate (per 1000):||39.43%|
|Human Development Index (rank / 187):||153|
|Human Development Index (scale 0 to 1):||0.471|
|Cumulative Approvals (1967-2012):||UA 3.5 Billion|