INVEST IN NIGERIA - Celso Salles In this second book of the Invest in Africa Collection, we are going to have a good trip through Nigeria, trying to show you the great advantages of INVESTING IN NIGERIA. The country with the largest population in Africa, with around 193 million inhabitants and an estimated average age of 18.4 years. NIGERIAN ECONOMY The Nigerian economy became the largest African economy following the 2013 GDP rebasing exercise by the National Bureau of Statistics. The rebasing included previously uncounted industries like telecoms, music, airlines, online sales, information technology and film production; bringing the GDP to a total of 81 trillion. The Nigerian petroleum sector alone accounts for about 90 percent of the country’s total export earnings. According to data from the US energy Information Administration, Nigeria is the thirteenth largest producer of crude oil with 2.4 million bbl/day in 2013 and has the 2nd largest crude oil reserves in Africa, with 37.2 billion barrels and natural gas reserves of 5.12 billion cubic metres contributing 2.98 percent of the world total, according to OPEC statistics (PWC Doing Business Guide Nigeria 2015). Official name Federal Republic of Nigeria Country area 923,768 square kilometres Capital city Abuja Population 193 million (2016 estimate) Administrative structure 36 States and 1 Federal Capital Territory Local currency Naira
Official language(s) English Other national language(s) Hausa, Igbo, Yoruba GDP (USD) 457.13 billion (2016) GDP per capita (USD) 2,457.80 (2016) Exchange rate (USD) 305.74 (March 2018)