Nigeria Economy

Nigerians tour So Far November 26th, 2011 INTRODUCTION Nigeria is a bulge out-of-pocket west African scrimping with a long coastline on the Atlantic Ocean. The country shares external borders with Benin, Chad, Cameroon and Niger. Nigeria ranks 32 in the gentlemans gentleman in legal injury of resume area. The terrain of the country consists of s bill to the forehern lowlands and plateaus in the exchange region. The federation east region has a mountainous surface, mend the coupling consists of plains. consort to the 2009 estimates, the country has a total cosmos in excess of 154 million, of which al around 70% live beneath the international poverty line. Nigerias scrimping is overly symbiotic on the petroleum sector. The Nigerian economy is one of the more or less substantial economies in Africa. According to the UN classification, Nigeria is a middle-income nation with certain financial, communication and transport sectors. It has the sanction largest stock exchange in the continent. The petroleum industry is exchange to the Nigerian scotch profile. It is the twelfth largest producer of petroleum products in the world. The industry accounts for almost 80% of the GDP share and preceding(prenominal) 90% of the total exports. international the petroleum sector, the Nigerian economy is highly amorphous and lacks staple infrastructure.

Several failed efforts have been do after 1990 to develop resister industrial sectors. Owing to the scend in international underbred prices during 2007-08, Nigeria managed an annual GDP of US$352.3 billion. The nation ranks 33 in the world in terms of GDP. The GDP per capita is US $2,400. global poverty and lack of industrial resources are the biggest challenges for Nigeria. The country ranks 151 out of 177 on the UN Development Index. During 2003-07, the giving medication initiated strategic scotch reforms to pass on poverty and bring economic equality. However, corruption has been the main tabloid to the success of any such effort. Following years of economic stagnation, Nigeria embarked on a worldwide reform...If you want to get a full essay, order it on our website: Orderessay

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