Nigeria KEY FACTS - Changing Economic World

Key pieces of evidence for Nigeria within the CEW topic.

% of Nigeria’s GDP from manufacturing

7%

% of Nigeria’s GDP from service based industries

52%

Population

Largest in Africa at 237 million

Size of Manufacturing sector

3rd largest in Africa

Farm Output

Highest in Africa

No. of Cattle

Highest in Africa

Ranking of economy on global scale

21st largest

Population ranking globally

7th

Oil producer global ranking

12th largest

Key Historical Dates

1960 - Independence from UK
1999 - Broad political stability achieved

Size of film industry

3rd largest in the world

Yearly revenue from Nollywood

$590 million

Amount of films produced each week in Nollywood

50

Average cost of a Nollywood film

$25,000 - $70,000

Trade Relationships

• Member of OPEC and the Commonwealth as former UK colony

• 50% of exports go to EU, alongside crude oil exports to India, China, Japan and South Korea

• Close links with China - $12bn invested in a new 1400km coastal high speed rail line, further $10bn in oil and gas drilling

No. of people living below $1 a day

100 million

Nigeria’s aid as a % of total aid given to Africa

4%

Amount of aid received per year

$5 billion

Number of mosquito nets distributed by ‘Nets for Life’ program from 2009-2013

60 million

Prevalence of Malaria in Nigeria

100 million cases and 300,000 deaths in a year

Aid given to Nigeria directly from UK for weather satellites and such

£300 million

Hunger rate increase in northern Nigeria

Up to 11% from 7% between 2013-2016

Number of TNCs located in Nigeria

40

Number of jobs created by oil and gas industry

65,000

Number of jobs related/indirectly supported by oil and gas industry

25,000

Oil and gas industry as a % of GDP

14%

Manufacturing AND oil and gas industry as a % of total employment

14.3%

Combined wealth of Nigeria’s five richest men

$29.9 billion

% of contracts from Shell awarded to local companies

91%

Bodo Oil spill stats

• Two oil spills occurred in 2008 and 2009 respectively

• Devastated 20km² of swampland, harming aquatic ecosystems by releasing toxic fumes

• Took Shell 6 years till they finally agreed to clean it up and pay compensation in 2015

% of Nigeria’s forests destroyed by deforestation

80%

GNI per capita (1980 vs 2021)

$4259 (1980) → $5250 (2021)

Life expectancy (1980 vs 2021)

45 years (1980) → 55 years (2021)

Access to safe water (1980 vs 2021)

46% (1980) → 64% (2021)

Expected Years of Schooling (1980 vs 2021)

6.7 (1980) → 10.2 (2021)

Mobile phone access

70%

Stable Internet Access

38%

Size of oil reserves

11th largest in the world

% of Nigeria’s international currency originating from oil and gas

90%