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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 ...
An emerging market (or an emerging country or an emerging economy) is a market that has some characteristics of a developed market, but does not fully meet its standards. [1] This includes markets that may become developed markets in the future or were in the past. [ 2 ]
Nigeria is a federal republic in West Africa, bordering Benin in the west, Chad and Cameroon in the east, and Niger in the north. As of 2015 Nigeria has the world's 20th largest economy, worth more than $500 billion and $1 trillion in terms of nominal GDP and purchasing power parity respectively. It overtook South Africa to become Africa's ...
Nigeria is emerging as a new source of lithium in Africa as the world’s largest producers, like Australia and Chile, are unable to fulfill the growing demand worldwide.
Some of the risks of investing in emerging markets include: Political instability: Political unrest, coups and changes in government policies can create uncertainty and volatility in emerging markets.
Nigeria is often referred to as the Giant of Africa by its citizens due to its large population and formerly large economy, [21] and is considered to be an emerging market by the World Bank. Nigeria is a founding member of the African Union and a member of many international organizations, including the United Nations, the Commonwealth of ...
Consequently, as Nigeria grows increasingly reliant on the oil and gas sector, which serves as the largest contributor to government revenues and a large portion of its total exports, it is often subjected to the volatility of the petroleum market. [5] As of 2021, Nigeria held the position of being the world's sixth-largest producer of natural ...
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