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NigeriaNigeria Member

The Federal Republic of Nigeria is located in western Africa on the Gulf of Guinea and has a total area of 924,000 km2. It shares a 4,047 kilometres border with Benin, Niger, Chad, Cameroon, and has a coastline of at least 853 km.

Nigeria is the most populous country in Africa. The United Nations estimates that the population in 2009 was at 154,729,000, distributed as 51.7% rural and 48.3% urban, and with a population density of 167.5 people per square kilometer.

The President of Nigeria is HE Muhammadu Buhari and Vice – President HE Yemi Osibajo.

Nigeria is the 12th largest producer of petroleum in the world and also possesses the largest natural gas reserves in the continent. The capital-intensive oil sector provides 20 per cent of gross domestic product, 95 per cent of foreign exchange earnings, and about 65 per cent of budgetary revenues.

Natural gas reserves are well over 5 trillion m³ and are several times as substantial as the crude oil reserves. The biggest natural gas operator is the Nigerian Liquefied Natural Gas Company which began exploration and production in 1999. Currently a lot of effort is made to make use of the abundant reserves of associated gas and avoid flaring, as many Nigerian oil fields are saturated, and have primary gas caps.

Apart from petroleum and gas, The Federal Republic of Nigeria also has a wide array of natural resources which include coal, bauxite, gold, tin, iron ore, limestone, niobium, lead and zinc.

Nigerian economy also has well-developed financial, legal, communications, transport sectors and stock exchange (the Nigerian Stock Exchange) which is the second largest in Africa.

Major Indicators

Land (1000 sq. km) 910.770 (2010)
Head of State HE Muhammadu Buhari
Population (million inhabitants) 154.7
Capital Abuja
Language(s) English
National currency Naira
Energy sources Petroleum, natural gas, coal
GDP per capita (current US$) 1,443 (2011)
GDP (current billion US$) 235.69 (2011)
GDP growth % 6.67 (2011)
Value of exports (billion $) 108.3 (2011)
Value of oil exports (billion $) 86.2 (2011)
Value of gas exports (billion $) na
Current account balance (BoP, billion $) 17.85 (2011)
Proven crude oil reserves (billion barrels) 37.2 (2011)
Crude oil production, NGPL and other liquids (1,000 b/d) 2,525 (2011)
Refinery capacity (1,000 b/d) 445 (2011)
Production of refined petroleum products (1,000 b/d) 101.3(2010)
Consumption of petroleum products (1,000 b/d) 286 (2011)
Crude oil exports (1,000 b/d) 2,377 (2011)
Exports of refined petroleum products (1,000 b/d) 18.748 (2010)
Proven natural gas reserves (trillion cu. m.) 5.155 (2012)
Natural gas exports (billion cu. m.) 25.94 (2011)
Domestic Dry Natural gas consumption (billion cu. m.) 7.22
Marketed production of natural gas (billion cu. m.) 40.9 (2011)

Location

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