Nigeria Economic Outlook

  • Robust growth of around 7% for the past decade is threatened by macroeconomic challenges, particularly exchange-rate volatility and falling global oil prices that impact public-sector spending.
  • The main opposition party, the All Progressive’s Congress, has won the most competitive presidential elections in Nigeria’s history which were relatively peaceful in spite of the insurgency in the north east.
  • Major rural-urban and regional tensions are due to varying natural-resource endowments, unequal access to political power, insufficient federal services and uneven shares of national wealth.


Nigeria country office

African Development Bank Group
Plot 813, Lake Chad Crescent
Maitama District
Abuja, Nigeria

Phone: (234) 94621030-59

Mr Ousmane Dore, Director

Key Facts

Capital: Abuja
Area: 924,000 sq km
Total Population 2015: 173.6 Million
Urban Population 2015: 50.87%
Female Population 2015: 49.10%
GDP: US$ 520.1 Billion
GNI Per Capita 2015: US$ 1,440
Inflation Rate: 8.54%
Crude Birth Rate (per 1000): 41.25%
Human Development Index (rank / 187): 153
Human Development Index (scale 0 to 1): 0.471
Membership Date: 10/09/1964
Cumulative Approvals (1967-2015): UA 4.9 Billion

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