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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 fourth largest in Africa and the 27th-largest in terms ...
The government affirmed that Nigeria's current development priorities and objectives are focused on achieving the SDGs. [4] The Lagos SDGs Youth Alliance is another pivotal SDGs Initiative in Nigeria aimed at promoting the involvement of youth in achieving the 2030 Agenda and supporting long-term sustainable development strategy of Lagos state. [5]
Its economy booms from the oil industry in the Niger Delta, and is said to be the leading economy in Africa in 2020. [25] Although Nigeria's economy is doing well, research has proven 35 percent of the population live in absolute poverty. [26] Approximately, 90 million Nigerians are believed to live on less than one US dollar a day. [27]
The three Pillars of the NV 20:2020 are i) guaranteeing the well-being and productivity of the people, ii) optimizing the key sources of economic growth and iii) fostering sustainable social and economic development. NV 20:2020 is Nigeria's second attempt at driving the attainment of her national aspirations using long-term perspective plan.
Nigeria is currently the most populated country in Africa and it is also the biggest oil exporter and in addition to this, it has the second biggest economy in Africa. All of these qualities make it a country with great economic potential, but Nigeria also faces great development challenges. [ 3 ]
Nigeria joined the IMF on March 30, 1961. [1] Nigeria is Africa's most populous country, with 222.182 million citizens. [1] The nation's IMF quota stands at 2454.5 million (SDR) along with its special drawing rights amounting to 3702.34 million (SDR). [1] As of July 2023, Nigeria experienced a 3.2 GDP change. [2]
Nigeria’s leader increased the wages of some government workers in last-minute efforts to appease labor unions whose planned strike this week could shut down government offices in all sectors of ...
Nigeria's economy is the fourth largest in Africa, the 31st-largest in the world by nominal GDP, and 30th-largest by PPP. GDP (PPP) per capita is US$9,148 [155] (as of 2022), which is less than South Africa, Egypt and Morocco, but slightly higher than Ghana and Ivory Coast.