Most sectors are open to private investment, and regulations formally treat foreign and domestic investment equally, but the investment regime lacks efficiency and transparency.


The National Bureau of Statistics (NBS) says Nigeria’s Gross Domestic Product (GDP) decreased by –6.10 per cent (year-on-year) in real terms in the second quarter of 2020. HCI and GDP Per Capita PPP (log scale, horizontal axis) Productivity relative to benchmark of complete education and full health. GDP growth over the past five years has been unimpressive for such a resource-rich developing country.Economic freedom and economic development have been battered by Nigeria’s chronic and severe political instability, intervention in the economy by the central bank and government, and pervasive corruption.

The government maintains an overvalued official rate for Nigeria’s currency so that gasoline subsidies can be maintained. There also have been lethal outbreaks of violence between herders and farmers in the Middle Belt region. Source:
Public debt is equivalent to 28.4 percent of GDP.Incremental improvements in starting a business, getting electricity, and enforcing contracts outweigh the added opaqueness that has been added to the property registration system. Agriculture, telecommunications, and services are contributing to modest economic growth, but more than 60 percent of Nigeria’s people still live in extreme poverty.Protection of property rights is weak. Other taxes include value-added and capital gains taxes. Although a multinational coalition has expelled the Islamist terrorist organization Boko Haram from many of its strongholds in northeast Nigeria, frequent attacks continue, including attacks by the increasingly powerful Islamic State West Africa Province. A vibrant labor market has yet to develop. The judiciary is hobbled by political interference, understaffing, underfunding, inefficiency, and corruption. GDP Growth Rate in 2017 was 0.81%, representing a change of 3,681,091,900 US$ over 2016, when Real GDP was $456,775,408,619. You have successfully subscribed to receive our newsletter pulse.ng



GDP per Capita in Nigeria (with a population of 190,873,244 people) was $2,412 in 2017, a decrease of $44 from $2,456 in 2016; this represents a change of-1.8% in GDP … Nigeria’s economic freedom score is 57.2, making its economy the 116th freest in the 2020 Index. With over 180 million people enclosed in it, Nigeria is the most populous black nation on earth and the 9th most populous nation in the world. Nigeria. Nigeria is Africa’s biggest oil exporter and, with a population of 193m, the region’s biggest economy and largest consumer base. Additionally, the economy is held back by power shortages, insecurity, high inflation, and tight credit conditions.A former British colony, Nigeria is Africa’s most populous country.







Nigeria is a major drug transshipment point and a significant center for financial crime and cybercrimes.The top individual income tax rate is 24 percent, and the top corporate tax rate is 30 percent. A new constitution established civilian government in 1999. The three broad sectors (Agriculture, Industries, and Services) or Non-Oil vs Oil.

The average applied tariff rate is 11.3 percent, and onerous nontariff barriers further deter growth in trade.




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