Nigeria Economy 5-30-24

Nigeria has low very Labor force participation rate and a very high population. 

Nominal GDP $390.002B, Per capita GDP $1755.32, Population 223,804,632, Debt to GDP 38.8%. Inflation 69.18% 2021-2024, Unemployment 6%, Labor force 24.4%, Average Salary $2280/yr to $4260/yr, Exports $46.93B, Imports $4.04B, Trade surplus $42.89B, Population is 53% Urban and 47% rural. Land area 356,669 sq miles. 80% of land is Desert. 40% is Wildlife habitat. Arable land is 5.34M sq miles.

Homelessness in Nigeria is an issue affecting some 25 million people in the country.

Main industries are cement, oil refining, construction and construction materials, food processing and food products, beverages and tobacco, textiles, apparel and footwear, 

pharmaceutical products, wood products, pulp paper products, chemicals, ceramic products, plastic and rubber products, 

electrical and electronic products, base metals: iron and steel, information technology, automobile manufacturing, and other manufacturing.

Exports include petroleum and petroleumproducts, chemicals, vehicles, aircraft parts, vessels, 

vegetable products, processed food, beverages, spirits and vinegar, cashew nuts, processed leather,

 cocoa, tobacco, aluminum alloys.

Imports industry supplies, machinery, appliances, vehicles, aircraft parts, chemicals, base metals

https://en.wikipedia.org/wiki/Economy_of_Nigeria

87% of the population lack access to clean water and sanitation.

Onsite septic tank is the primary method of disposing sewage in Nigeria. It is usually located within an average of 5 m to a shallow well which is the major source of domestic water supply.

The one water treatment plant can serve up to 700,000 people in Abuja Nigeria.

50% of Nigeria’s population live in villages. There are no water treatment plants and they need to add chlorine to the water they get from their wells. UNICEF says 117,000 children die in Nigeria each year due to water-related illnesses - the highest number of any nation. There are 128,000 villages in Nigeria.

Nigeria’s land mass is 356,669 square miles. Texas is 268,597 square miles. The population of Nigeria is 223,804,632. The population of Texas is 30,976,754.

Norb Leahy, Dunwoody GA Tea Party Leader