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The economy of Nigeria is a middle-income, mixed economy and emerging market [27] [28] with expanding manufacturing, financial, service, communications, technology, and entertainment sectors. [ 29 ] [ 30 ] It is ranked as the 53rd-largest economy in the world in terms of nominal GDP , the sixth largest in Africa and the 27th-largest in terms of ...
The capital of Nigeria is Abuja, situated in the centre of the country, while Lagos is the country's major port, monetary center and largest city. Communicated in dialects are English (official), Hausa, Igbo, and Yoruba. [2] It is assessed that Nigeria has around 250 different ethno-etymological gatherings. [3]
The zone has about ten large commercial cities. Apart from agriculture which is the major economic activity, the zone is also known as for commercial and trading activities with small and medium indigenous industries that are manufacturing goods and services. [2] The main agricultural products in the zone are yam, cassava, rice, and cocoyam.
Economic geography is sometimes approached as a branch of anthropogeography that focuses on regional systems of human economic activity. An alternative description of different approaches to the study of human economic activity can be organized around spatiotemporal analysis, analysis of production/consumption of economic items, and analysis of ...
Nigeria's economy is the fourth largest in Africa, the 31st-largest in the world by nominal GDP, and 30th-largest by PPP. In 2022, its GDP (PPP) per capita was US$9,148, [156] which is less than South Africa, Egypt and Morocco, but slightly higher than Ghana and Ivory Coast. As of 2023, Nigeria's economy is classified as lower-middle-income. [157]
Nigeria is a federal constitutional republic comprising thirty-six states and one Federal Capital Territory. Nigeria borders the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in the north. Its coast lies on the Gulf of Guinea, part of the Atlantic Ocean, in the south. The capital of Nigeria is Abuja.
The six geopolitical zones of Nigeria. The Federal Republic of Nigeria is divided into six geopolitical zones, commonly called zones. They are a type of administrative division grouping the country's states, created during the regime of president General Sani Abacha. Nigerian economic, political, and educational resources are often shared ...
Economically, the North West's urban areas–like the city of Kano–are large boosts to the Nigerian economy [2] while most rural areas lag behind due to insecurity, [3] [4] low education rates, and government neglect. [5] The region has a population of about 49 million people, around 23% of the total population of the country.