Nigeria - Federal Republic of Nigeria Member
Federal Republic of Nigeria is located in Western Africa, shares border with Benin, Niger, Chad, and Cameroon, and has a coastline of at least 853 km.
Being situated on the Gulf of Guinea, it is the most populous country in Africa and the 12th largest producer of petroleum in the world, possessing the largest natural gas reserves in the African continent. The capital-intensive oil sector provides 20% of the GDP, 95% of the foreign exchange earnings, and about 65% of the budgetary revenues.
Currently, a lot of effort is being placed towards making use of the abundant reserves of associated gas and reduced flaring, as many Nigerian oil fields are saturated, and have primary gas caps.
Apart from petroleum and gas, Nigeria also has a wide array of natural resources, which include coal, bauxite, gold, tin, iron ore, limestone, niobium, lead, and zinc. Nigerian economy has well-developed financial, legal, communications, and transport sectors, with the substantial Nigerian Stock Exchange, which is the second-largest in Africa.
|National currency||Nigerian Naira|
|Labor force (inhabitants)||62,242,961|
|GDP (current billion US$)||432.29|
|GDP per capita (current US$)||2,097.09|
|GDP growth (percentage)||-1.79|
|Exports of Goods and Services (current billion US$)||38.17|
|Proven natural gas reserves (billion c.m.)||5,750|
|Natural gas marketed production (billion c.m.)||47.94|
|Pipeline exports (billion c.m.)||0.89|
|LNG exports (billion c.m.)||31.04|
|Domestic natural gas consumption (billion c.m.)||13.19|