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Country Report Nigeria

  • ID: 2101473
  • Country Profile
  • September 2021
  • Region: Nigeria
  • 25 Pages
  • The Economist Intelligence Unit
Nigeria is the joint-largest economy in Sub-Saharan Africa, an oil exporter and OPEC member. Hydrocarbons make up about 50% of government revenue and more than 80% of export receipts, but agriculture and services dwarf industry as contributors to GDP.

Instability is chronic in some areas, and inflation and unemployment accentuate the problem. This backdrop creates uncertainty for much-needed but unpopular economic and fiscal reforms, and The Economist Intelligence Unit broadly expects that tax increases and the removal of subsidies for petrol will not happen until after the 2023 elections.

The government aims to roll out coronavirus vaccines to 70% of the population by end-2022, but tight global supply, widespread anti-vaccine sentiment, instability and a lack of pharmaceutical storage facilities mean that mass inoculation will take far longer.
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Country Report Nigeria

Briefing sheet
Political and economic outlook
Key changes since August 1st
The month ahead
Major risks to our forecast

Outlook for 2021-25: Political stability

Outlook for 2021-25: Election watch

Outlook for 2021-25: International relations

Outlook for 2021-25: Policy trends

Outlook for 2021-25: Fiscal policy

Outlook for 2021-25: Monetary policy

Outlook for 2021-25: International assumptions

Outlook for 2021-25: Economic growth
The rollout of vaccines: global and regional assumptions
Economic growth

Outlook for 2021-25: Inflation

Outlook for 2021-25: Exchange rates
Forecasting the naira

Outlook for 2021-25: External sector

Outlook for 2021-25: Forecast summary

Data and charts: Annual data and forecast

Data and charts: Quarterly data

Data and charts: Monthly data

Data and charts: Annual trends charts

Data and charts: Monthly trends charts

Data and charts: Comparative economic indicators

Basic data
Land area
Population
Main towns
Climate
Weather in Lagos (altitude 3 metres)
Languages
Measures
Currency
Time
Public holidays

Political structure
Official name
Form of state
Legal system
National legislature
National elections
Head of state
State government
National government
Main political parties
Key ministers
Central bank governor
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