Economic and Political Overview

Nigeria: Economic and Political Overview

In this page: Economic Indicators | Foreign Trade in Figures | Sources of General Economic Information | Political Outline | COVID-19 Country Response

Economic Indicators

For the latest updates on the key economic responses from governments to address the economic impact of the COVID-19 pandemic, please consult the IMF's policy tracking platform Policy Responses to COVID-19.

Africa’s leading economy, Nigeria - in close competition with South Africa - has a population of more than 219 million people (CIA). Worldwide, it is the 25th-largest economy by GDP volume. However, Nigeria's economy is highly dependent on oil and is therefore very vulnerable to fluctuations in crude oil prices and production. If over the past decade economic growth reached 2.5% on average, the Covid-19 pandemic and the fall in oil prices caused the economy to contract in 2020. Nevertheless, economic growth rebounded in 2021 (+3.6%) and 2022 (+3.2%) supported by a buoyant services sector and increased revenues from oil and gas exports. Crude oil production averaged 1.3 mbpd in 2022 and is expected to increase slightly to 1.4 mbpd in 2023, although the sector will continue to be affected by the combination of oil theft, pipeline vandalism, and ageing infrastructure. For 2023 and 2024, the IMF forecasts growth at 3% and 2.9%, respectively. Among the downside risks are high inflation and security issues.

Higher oil prices have brought an improvement in oil export receipts, resulting in a small surplus of the current account in 2022, from a deficit of 0.4% in 2021 (Fitch Ratings). Falling reserve levels (estimated at USD 36.3 billion in 2022, down from USD 40.2 billion one year earlier) have contributed to tight foreign-currency liquidity. The 2022 general government fiscal deficit was estimated at 6.1% of GDP by Fitch Ratings, as the subsidy on petrol cost the government approximately NGN 5 trillion (2.4% of GDP) in foregone revenue from the Nigerian National Petroleum Corporation (NNPC). Lower subsidy costs and a marginal improvement in oil production should contribute to a narrowing fiscal deficit in 2023 (still above 5%). Public debt increased from an estimated 36.6% GDP in 2021 to 37.4% GDP last year and is forecast to further rise to 38.6% GDP in 2023 and 39.8% GDP in 2024 (IMF). Even if the public debt remains low, debt accumulation has increased sharply, and interest payments absorb around 40% of the country’s scarce resources (Coface). According to Fitch Ratings, the government is expected to have to repay USD 2.4 billion in external debt in 2023 and USD 2.7 billion in 2024. To meet these payments, the government will likely rely on a mix of drawing down reserves and obtaining new external borrowing, most likely through syndicated loans. Fuelled by elevated food prices, high domestic energy prices, accommodative monetary policy and import restrictions, the inflation rate has constantly exceeded the Central Bank’s inflation target range of 6% over the past few years and reached a 17-year high in 2022, at 18.9%. Over the course of the year, the monetary policy rate was increased three times by a total of 450 basis points by the CBN, and the cash reserve ratio was utilized to periodically eliminate liquidity from the domestic banking sector. Nevertheless, inflation is expected to remain high over the forecast horizon, at 17.3% this year and 12.6% in 2024, according to the IMF.
Fiscal consolidation, economic diversification, inclusive growth and security issues are the main priorities. The main obstacles to development in Nigeria are the inappropriate energy supply, deficient transport infrastructures, inefficient judiciary system, widespread corruption, together with high inflation. The gap between the official value of the naira and its value on the black market is substantial and the banking system is fragilized by the deteriorating quality of assets.

Despite the country's dynamism, the real challenge for Nigeria is the risk of a demographic explosion: according to the United Nations, the population of Nigeria could reach 730 million inhabitants in 2100. Concerns regarding this potential boom are exacerbated by the fact that half of the inhabitants live below the poverty line; pandemics are rampant (HIV, tuberculosis), infant mortality is high and the country struggles with significant levels of inequalities. According to the Nigerian Bureau of Statistics, unemployment stood at 33.3% in 2022 (42.5% for youth), and 22.8% of the active workforce is under-employed. In 2021, Nigeria returned to positive real GDP per capita growth after five years of negative per capita growth. The overall GDP per capita was estimated at USD 5,884 in 2022 by the IMF.

Main Indicators	2020	2021	2022	2023	2024
GDP (billions USD)	429.42	441.54	504.20	574.27	651.34
GDP (Constant Prices, Annual % Change)	-1.8	3.6	3.2	3.0	2.9
GDP per Capita (USD)	2,083	2,089	2,326	2,585	2,860
General Government Gross Debt (in % of GDP)	34.5	36.6	37.4	38.6	39.8
Inflation Rate (%)	13.2	17.0	18.9	17.3	12.6
Unemployment Rate (% of the Labour Force)	0.0	0.0	0.0	0.0	0.0
Current Account (billions USD)	-16.98	-1.85	-0.95	-3.73	-2.99
Current Account (in % of GDP)	-4.0	-0.4	-0.2	-0.7	-0.5

Source: IMF – World Economic Outlook Database , Latest available data

Note: (e) Estimated Data

Main Sectors of Industry

The Nigerian economy is dominated by crude oil, which accounts for half of the government revenue and more than 75% of the country's total export earnings (Coface). Nigeria is among the first ten oil exporters, and its oil reserves are estimated at 37 billion barrels (OPEC). The country also has become one of the lead exporters of liquefied natural gas, which accounts for an additional 13% of exports (ITC). The country also extracts tin ore and coal for domestic use. Nigeria’s other natural resources include iron ore, limestone, niobium, lead, zinc and arable land.

Another key sector of the Nigerian economy is agriculture, which employs 35% of the workforce and contributes to about 23.4% of the GDP (World Bank). Crop production in Nigeria is dominated by food crops such as cassava, yams, maize, rice, sorghum, and millet, which are mainly grown by small-scale farmers. Other important crops grown in the country include cocoa, palm oil, rubber, groundnut, and cotton. Nigeria is the world's largest producer of cassava and the third-largest producer of tomatoes and groundnuts. The livestock sub-sector in Nigeria includes the production of cattle, sheep, goats, pigs, and poultry. The sector is also characterized by small-scale farmers, and the production is mainly for subsistence and commercial purposes. Nigerian agriculture is mainly centred on subsistence farming. According to the National Bureau of Statistics (NBS), the agricultural sector grew by 3.16% (year-on-year) in real terms in the first quarter of 2022, 13.8% in the second quarter, and 1.3% in the third quarter.

The industrial sector makes up 31.4% of the GDP and employs 12% of the workforce. The largest subsector in the country is the petroleum industry, which currently suffers from oil theft that is believed to cost the country potential revenues valued as much as USD 10.9 billion. Significant oil losses are also recorded due to oil spills. The total annual contribution of oil to aggregate GDP in 2022 was 5.67% (data NBS). The manufacturing sub-sector is the largest component of Nigeria's industrial sector and includes the production of textiles, food and beverages, chemicals, cement, paper, and automobiles. However, the sector has been facing challenges such as inadequate infrastructure, high production costs, and limited access to finance and raw materials. Overall, the manufacturing sector is estimated to account for 15% of GDP (World Bank). The construction industry in Nigeria is also a significant contributor to the industrial sector, driven by the demand for new infrastructure, housing, and commercial buildings. The sector has been growing rapidly in recent years, and the government has been investing in infrastructure projects such as roads, airports, and railways to support its development.

Services represent 43.8% of the GDP and employ 53% of the population. Financial sectors, telecommunications and retail especially, are very dynamic. The finance sub-sector is a significant component of Nigeria's services sector, driven by the growth of the banking industry, insurance, and capital markets. Nigeria's banking industry is one of the largest and most sophisticated in Africa, with local and international banks operating in the country. Tourism is also a significant sector, but it struggles due to the country's poor power supply, insufficient road infrastructure, and poor water quality. The Covid-19 pandemic had a huge impact on tourism as well as the entertainment industry, but vaccination programmes enabled activity to rebound in 2022. To address the challenges facing the services sector, the Nigerian government has implemented various policies and initiatives such as the National Digital Economy Policy and Strategy, the Nigerian Tourism Development Master Plan, and the Nigerian Postal Service Reform. These initiatives aim to promote digitalization, improve infrastructure, increase productivity, and create employment opportunities.

Breakdown of Economic Activity By Sector	Agriculture	Industry	Services
Employment By Sector (in % of Total Employment)	35.0	12.0	53.0
Value Added (in % of GDP)	23.4	31.4	43.8
Value Added (Annual % Change)	2.1	-0.5	5.6

Source: World Bank - Latest available data.

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Monetary Indicators	2016	2017	2018	2019	2020
Nigerian Naira (NGN) - Average Annual Exchange Rate For 1 MUR	7.13	8.85	9.02	9.15	9.07

Source: World Bank - Latest available data.

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Indicator of Economic Freedom

Definition

Definition:

The Economic freedom index measure ten components of economic freedom, grouped into four broad categories or pillars of economic freedom: Rule of Law (property rights, freedom from corruption); Limited Government (fiscal freedom, government spending); Regulatory Efficiency (business freedom, labour freedom, monetary freedom); and Open Markets (trade freedom, investment freedom, financial freedom). Each of the freedoms within these four broad categories is individually scored on a scale of 0 to 100. A country’s overall economic freedom score is a simple average of its scores on the 10 individual freedoms.

Score:: 58,7/100
World Rank:: 105
Regional Rank:: 13

Economic freedom in the world (interactive map)
Source: Index of Economic Freedom, Heritage Foundation

Business environment ranking

Definition

Definition:

The business rankings model measures the quality or attractiveness of the business environment in the 82 countries covered by The Economist Intelligence Unit’s Country Forecast reports. It examines ten separate criteria or categories, covering the political environment, the macroeconomic environment, market opportunities, policy towards free enterprise and competition, policy towards foreign investment, foreign trade and exchange controls, taxes, financing, the labour market and infrastructure.

Score:: 3.86/10
World Rank:: 78/82

Source: The Economist Intelligence Unit - Business Environment Rankings 2020-2024

Country Risk

See the country risk analysis provided by Coface.

Foreign Trade in Figures

Nigeria is relatively open to trade, which accounts for 23% of its GDP (World Bank, latest data available). The objective of Nigeria's trade policy is to promote and diversify its exports by reinforcing national competitiveness and encouraging liberalization through the reduction of subsidies. The country mainly exports petroleum oils and petroleum gas (mineral products account for 90% of total exports), and boats (3.4%); while imports are lead by mineral products (40%), machinery (16.9%), chemical products (8.6%), and vehicles (6.5% - data National Bureau of Statistics 2022).

Nigeria's main export partners are India (12.6% of total exports), Spain (12%), the Netherlands (9.6%), the U.S. (6.8%), and France (5.8%). Its main suppliers are China (22.7% of total imports), the Netherlands (10.4%), India (7.9%), the United States (5.6%), and France (2.6% - data NBS 2022). Nigeria is a member of the World Trade Organization (WTO) and has signed several regional and bilateral trade agreements. The country is a member of the Economic Community of West African States (ECOWAS) and has signed the African Continental Free Trade Area (AfCFTA) agreement, which aims to create a single market for goods and services among African countries. The Nigerian government has implemented various measures to promote exports, such as the Export Expansion Grant (EEG) and the Nigerian Export Supervision Scheme (NESS). These measures aim to encourage non-oil exports, promote value addition, and increase competitiveness. Lingering barriers to trade and investment persist in the country, mainly due to long bureaucratic delays.

Nigeria’s trade balance is structurally positive, but it occasionally turns negative when oil prices and production drop. According to World Bank data, in 2021 the trade balance was negative by 1.1% of GDP. In the same year, exports of goods amounted to USD 46.9 billion, whereas imports reached USD 51.9 billion (+32.7% and -6.7% y-o-y, respectively - WTO). Exports of services stood at USD 4 billion, while imports totalled USD 15.1 billion (WTO).
Economic recovery and higher oil revenues resulted in a trade surplus in 2022: according to figures from CBS, exports increased by 41.7% vis-à-vis 2021 to NGN 26.8 trillion while imports reached NGN 25.6 trillion (+22.8%).

Foreign Trade Indicators	2017	2018	2019	2020	2021
Imports of Goods (million USD)	31,273	43,007	55,257	55,390	51,941
Exports of Goods (million USD)	44,468	60,547	62,531	35,634	46,932
Imports of Services (million USD)	17,973	30,625	38,452	19,598	15,165
Exports of Services (million USD)	4,541	4,351	4,486	3,533	4,082
Imports of Goods and Services (Annual % Change)	4.8	49.2	27.3	-61.9	44.4
Exports of Goods and Services (Annual % Change)	8.7	-1.4	15.0	-33.4	-32.1
Imports of Goods and Services (in % of GDP)	13.2	17.5	19.8	8.2	11.8
Exports of Goods and Services (in % of GDP)	13.2	15.5	14.2	8.1	10.7
Trade Balance (million USD)	13,148	20,467	2,868	-16,402	-3,246
Trade Balance (Including Service) (million USD)	-86	-5,599	-30,893	-32,241	-15,251
Foreign Trade (in % of GDP)	26.3	33.0	34.0	16.4	22.6

Source: WTO – World Trade Organisation ; World Bank , Latest Available Data

Main Partner Countries

Main Customers (% of Exports)	2021
India	16.4%
Spain	11.8%
France	6.3%
Netherlands	6.0%
Canada	4.5%
United States	4.2%
Italy	4.0%
Indonesia	3.9%
China	3.9%
South Africa	3.3%
Portugal	2.9%
Ivory Coast	2.8%
Brazil	2.6%
United Kingdom	2.4%
Türkiye	2.1%
Singapore	1.9%
Poland	1.9%
Germany	1.7%
Namibia	1.4%
Senegal	1.2%
See More Countries	55.0%

Main Suppliers (% of Imports)	2021
China	24.7%
Netherlands	10.3%
India	8.8%
Belgium	7.3%
United States	6.1%
Russia	4.0%
South Korea	2.8%
Norway	2.5%
Germany	2.4%
France	2.3%
Brazil	2.2%
Italy	2.0%
Malaysia	1.7%
United Arab Emirates	1.6%
United Kingdom	1.6%
Türkiye	1.3%
Spain	1.3%
Ukraine	1.2%
Saudi Arabia	1.1%
South Africa	1.0%
See More Countries	42.8%

Source: Comtrade, Latest Available Data

Main Products

47.2 bn USD of products exported in 2021
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude	76.2%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons	12.3%
Light-vessels, fire-floats, dredgers, floating...Light-vessels, fire-floats, dredgers, floating cranes, and other vessels the navigability of which is subsidiary to their main function; floating docks, floating or submersible drilling or production platforms (excl. fishing vessels and warships)	2.6%
Mineral or chemical nitrogenous fertilisers (excl....Mineral or chemical nitrogenous fertilisers (excl. those in pellet or similar forms, or in packages with a gross weight of <= 10 kg)	2.0%
Cocoa beans, whole or broken, raw or roastedCocoa beans, whole or broken, raw or roasted	1.2%
Other oil seeds and oleaginous fruits, whether or...Other oil seeds and oleaginous fruits, whether or not broken (excl. edible nuts, olives, soya beans, groundnuts, copra, linseed, rape or colza seeds and sunflower seeds)	0.6%
Coconuts, brazil nuts and cashew nuts, fresh or...Coconuts, brazil nuts and cashew nuts, fresh or dried, whether or not shelled or peeled	0.5%
Electrical energyElectrical energy	0.5%
Unwrought aluminiumUnwrought aluminium	0.4%
Vessels and other floating structures for breaking...Vessels and other floating structures for breaking up	0.3%
Powered aircraft "e.g. helicopters and aeroplanes...Powered aircraft "e.g. helicopters and aeroplanes"; spacecraft, incl. satellites, and suborbital and spacecraft launch vehicles	0.3%
Cigars, cheroots, cigarillos and cigarettes of...Cigars, cheroots, cigarillos and cigarettes of tobacco or of tobacco substitutes	0.2%
Unwrought lead :Unwrought lead :	0.2%
Leather further prepared after tanning or crusting...Leather further prepared after tanning or crusting "incl. parchment-dressed leather", of goats or kids, pigs, reptiles and other animals, without wool or hair on, and leather of hairless animals, whether or not split (excl. leather of bovine and equine animals, sheep and lambs, and chamois leather, patent leather and patent laminated leather, and metallised leather)	0.1%
Copper, refined, and copper alloys, unwrought ...Copper, refined, and copper alloys, unwrought (excl. copper alloys of heading 7405)	0.1%
Oilcake and other solid residues, whether or not...Oilcake and other solid residues, whether or not ground or in the form of pellets, resulting from the extraction of soya-bean oil	0.1%
Cement, incl. cement clinkers, whether or not...Cement, incl. cement clinkers, whether or not coloured	0.1%
Natural rubber, balata, gutta-percha, guayule,...Natural rubber, balata, gutta-percha, guayule, chicle and similar natural gums, in primary forms or in plates, sheets or strip	0.1%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals	0.1%
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s.	0.1%
Crustaceans, whether in shell or not, live, fresh,...Crustaceans, whether in shell or not, live, fresh, chilled, frozen, dried, salted or in brine, even smoked, incl. crustaceans in shell cooked by steaming or by boiling in water; flours, meals and pellets of crustaceans, fit for human consumption	0.1%
See More Products	5.7%

52.1 bn USD of products imported in 2021
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals	30.2%
Wheat and meslinWheat and meslin	5.2%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702)	3.3%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006)	2.1%
Cane or beet sugar and chemically pure sucrose, in...Cane or beet sugar and chemically pure sucrose, in solid form	1.7%
Frozen fish (excl. fish fillets and other fish...Frozen fish (excl. fish fillets and other fish meat of heading 0304)	1.4%
Taps, cocks, valves and similar appliances for...Taps, cocks, valves and similar appliances for pipes, boiler shells, tanks, vats or the like, incl. pressure-reducing valves and thermostatically controlled valves; parts thereof	1.4%
Motorcycles, incl. mopeds, and cycles fitted with...Motorcycles, incl. mopeds, and cycles fitted with an auxiliary motor, with or without side-cars; side-cars	1.2%
Polymers of ethylene, in primary formsPolymers of ethylene, in primary forms	1.1%
Polyacetals, other polyethers and epoxide resins,...Polyacetals, other polyethers and epoxide resins, in primary forms; polycarbonates, alkyd resins, polyallyl esters and other polyesters, in primary forms	1.1%
Polymers of propylene or of other olefins, in...Polymers of propylene or of other olefins, in primary forms	1.0%
Milk and cream, concentrated or containing added...Milk and cream, concentrated or containing added sugar or other sweetening matter	0.9%
Palm oil and its fractions, whether or not refined...Palm oil and its fractions, whether or not refined (excl. chemically modified)	0.8%
Uncoated paper and paperboard, of a kind used for...Uncoated paper and paperboard, of a kind used for writing, printing or other graphic purposes, and non-perforated punchcards and punch-tape paper, in rolls or in square or rectangular sheets, of any size, and handmade paper and paperboard (excl. newsprint of heading 4801 and paper of heading 4803)	0.8%
Machinery for working rubber or plastics or for...Machinery for working rubber or plastics or for the manufacture of products from these materials, not specified or included elsewhere in this chapter, parts thereof	0.8%
Flat-rolled products of iron or non-alloy steel,...Flat-rolled products of iron or non-alloy steel, of a width >= 600 mm, hot-rolled, not clad, plated or coated	0.7%
Centrifuges, incl. centrifugal dryers (excl. those...Centrifuges, incl. centrifugal dryers (excl. those for isotope separation); filtering or purifying machinery and apparatus, for liquids or gases; parts thereof (excl. artificial kidneys)	0.7%
Flat-rolled products of iron or non-alloy steel,...Flat-rolled products of iron or non-alloy steel, of a width >= 600 mm, hot-rolled or cold-rolled "cold-reduced", clad, plated or coated	0.7%
Motor vehicles for the transport of goods, incl....Motor vehicles for the transport of goods, incl. chassis with engine and cab	0.7%
Pumps for liquids, whether or not fitted with a...Pumps for liquids, whether or not fitted with a measuring device (excl. ceramic pumps and secretion aspirating pumps for medical use and medical pumps carried on or implanted in the body); liquid elevators (excl. pumps); parts thereof	0.7%
Electric generating sets and rotary convertersElectric generating sets and rotary converters	0.6%
Malt extract; food preparations of flour, groats,...Malt extract; food preparations of flour, groats, meal, starch or malt extract, not containing cocoa or containing < 40% by weight of cocoa calculated on a totally defatted basis, n.e.s.; food preparations of milk, cream, butter milk, sour milk, sour cream, whey, yogurt, kephir, and similar goods of heading 0401 to 0404, not containing cocoa or containing < 5% by weight of cocoa calculated on a totally defatted basis, n.e.s.	0.6%
Machinery, plant or laboratory equipment whether...Machinery, plant or laboratory equipment whether or not electrically heated (excl. furnaces, ovens and other equipment of heading 8514), for the treatment of materials by a process involving a change of temperature such as heating, cooking, roasting, distilling, rectifying, sterilising, pasteurising, steaming, drying, evaporating, vaporising, condensing or cooling (excl. those used for domestic purposes); instantaneous or storage water heaters, non-electric; parts thereof	0.6%
Structures and parts of structures "e.g., bridges...Structures and parts of structures "e.g., bridges and bridge-sections, lock-gates, towers, lattice masts, roofs, roofing frameworks, doors and windows and their frames and thresholds for doors, shutters, balustrades, pillars and columns", of iron or steel; plates, rods, angles, shapes, sections, tubes and the like, prepared for use in structures, of iron or steel (excl. prefabricated buildings of heading 9406)	0.6%
Mixtures of odoriferous substances and mixtures,...Mixtures of odoriferous substances and mixtures, incl. alcoholic solutions, based on one or more of these substances, of a kind used as raw materials in industry; other preparations based on odoriferous substances, of a kind used for the manufacture of beverages	0.6%
Polymers of vinyl chloride or of other halogenated...Polymers of vinyl chloride or of other halogenated olefins, in primary forms	0.5%
Air conditioning machines comprising a...Air conditioning machines comprising a motor-driven fan and elements for changing the temperature and humidity, incl. those machines in which the humidity cannot be separately regulated; parts thereof	0.5%
Petroleum coke, petroleum bitumen and other...Petroleum coke, petroleum bitumen and other residues of petroleum oil or of oil obtained from bituminous minerals, n.e.s.	0.4%
Monitors and projectors, not incorporating...Monitors and projectors, not incorporating television reception apparatus; reception apparatus for television, whether or not incorporating radio-broadcast receivers or sound or video recording or reproducing apparatus	0.4%
Machinery for sorting, screening, separating,...Machinery for sorting, screening, separating, washing, crushing, grinding, mixing or kneading earth, stone, ores or other mineral substances, in solid, incl. powder or paste, form; machinery for agglomerating, shaping or moulding solid mineral fuels, ceramic paste, unhardened cements, plastering materials or other mineral products in powder or paste form; machines for forming foundry moulds of sand; parts thereof	0.4%
New pneumatic tyres, of rubberNew pneumatic tyres, of rubber	0.4%
Human blood; animal blood prepared for therapeutic...Human blood; animal blood prepared for therapeutic, prophylactic or diagnostic uses; antisera and other blood fractions and immunological products, whether or not modified or obtained by means of biotechnological processes; vaccines, toxins, cultures of micro-organisms (excl. yeasts) and similar products	0.4%
Articles of iron or steel, n.e.s. (excl. cast...Articles of iron or steel, n.e.s. (excl. cast articles)	0.4%
Self-propelled bulldozers, angledozers, graders,...Self-propelled bulldozers, angledozers, graders, levellers, scrapers, mechanical shovels, excavators, shovel loaders, tamping machines and roadrollers	0.4%
Food preparations, n.e.s.Food preparations, n.e.s.	0.4%
Refrigerators, freezers and other refrigerating or...Refrigerators, freezers and other refrigerating or freezing equipment, electric or other; heat pumps; parts thereof (excl. air conditioning machines of heading 8415)	0.4%
Machines and mechanical appliances having...Machines and mechanical appliances having individual functions, not specified or included elsewhere in this chapter; parts thereof	0.4%
Mechanical appliances, whether or not...Mechanical appliances, whether or not hand-operated, for projecting, dispersing or spraying liquids or powders, n.e.s.; fire extinguishers, charged or not (excl. fire-extinguishing bombs and grenades); spray guns and similar appliances (excl. electric machines and apparatus for hot spraying of metals or sintered metal carbides of heading 8515); steam or sand blasting machines and similar jet projecting machines; parts thereof, n.e.s.	0.4%
Plates, sheets, film, foil and strip, of...Plates, sheets, film, foil and strip, of non-cellular plastics, not reinforced, laminated, supported or similarly combined with other materials, without backing, unworked or merely surface-worked or merely cut into squares or rectangles (excl. self-adhesive products, and floor, wall and ceiling coverings of heading 3918)	0.3%
Insulated "incl. enamelled or anodised" wire,...Insulated "incl. enamelled or anodised" wire, cable "incl. coaxial cable" and other insulated electric conductors, whether or not fitted with connectors; optical fibre cables, made up of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors	0.3%
Insulating fittings for electrical machines,...Insulating fittings for electrical machines, appliances or equipment, being fittings wholly of insulating material apart from any minor components of metal, e.g., threaded sockets, incorporated during moulding solely for purposes of assembly (other than insulators of heading 8546); electrical conduit tubing and joints therefor, of base metal lined with insulating material	0.3%
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s.	0.3%
Air or vacuum pumps (excl. gas compound elevators...Air or vacuum pumps (excl. gas compound elevators and pneumatic elevators and conveyors); air or other gas compressors and fans; ventilating or recycling hoods incorporating a fan, whether or not fitted with filters; parts thereof	0.3%
Undenatured ethyl alcohol of an alcoholic strength...Undenatured ethyl alcohol of an alcoholic strength of >= 80%; ethyl alcohol and other spirits, denatured, of any strength	0.3%
Plates, sheets and strip, of aluminium, of a...Plates, sheets and strip, of aluminium, of a thickness of > 0,2 mm (excl. expanded plates, sheets and strip)	0.3%
Tubes, pipes and hollow profiles, seamless, of...Tubes, pipes and hollow profiles, seamless, of iron or steel (excl. products of cast iron)	0.3%
Turbojets, turbopropellers and other gas turbinesTurbojets, turbopropellers and other gas turbines	0.3%
Automatic data-processing machines and units...Automatic data-processing machines and units thereof; magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data, n.e.s.	0.3%
Machines for cleaning, sorting or grading seed,...Machines for cleaning, sorting or grading seed, grain or dried leguminous vegetables; machinery used in the milling industry or for the working of cereals or dried leguminous vegetables (excl. farm-type machinery, heat treatment equipment, centrifugal dryers and air filters); parts thereof	0.3%
Gypsum; anhydrite; plasters consisting of calcined...Gypsum; anhydrite; plasters consisting of calcined gypsum or calcium sulphate, whether or not coloured, with or without small quantities of accelerators or retarders	0.3%
Moulding boxes for metal foundry; mould bases;...Moulding boxes for metal foundry; mould bases; moulding patterns; moulds for metal (other than ingot moulds), metal carbides, glass, mineral materials, rubber or plastics (excl. moulds of graphite or other carbons, ceramic or glass moulds and linotype moulds or matrices)	0.3%
Tractors (other than tractors of heading 8709)Tractors (other than tractors of heading 8709)	0.3%
Oxygen-function amino-compoundsOxygen-function amino-compounds	0.3%
Mixed alkylbenzenes and mixed alkylnaphthalenes...Mixed alkylbenzenes and mixed alkylnaphthalenes produced by the alkylation of benzene and naphthalene (excl. mixed isomers of cyclic hydrocarbons)	0.3%
Malt, whether or not roastedMalt, whether or not roasted	0.3%
Agricultural, horticultural or forestry machinery...Agricultural, horticultural or forestry machinery for soil preparation or cultivation (excl. sprayers and dusters); lawn or sports-ground rollers; parts thereof	0.3%
Margarine, other edible mixtures or preparations...Margarine, other edible mixtures or preparations of animal or vegetable fats or oils and edible fractions of different fats or oils (excl. fats, oils and their fractions, partly or wholly hydrogenated, inter-esterified, re-esterified or elaidinised, whether or not refined, but not further prepared, and mixtures of olive oils and their fractions)	0.2%
Transmission shafts, incl. camshafts and...Transmission shafts, incl. camshafts and crankshafts, and cranks; bearing housings and plain shaft bearings for machines; gears and gearing; ball or roller screws, gear boxes and other speed changers, incl. torque converters; flywheels and pulleys, incl. pulley blocks, clutches and shaft couplings, incl. universal joints; parts thereof	0.2%
Fish, fit for human consumption, dried, salted or...Fish, fit for human consumption, dried, salted or in brine; smoked fish, fit for human consumption, whether or not cooked before or during the smoking process; flours, meals and pellets of fish, fit for human consumption	0.2%
Machine tools, incl. machines for nailing,...Machine tools, incl. machines for nailing, stapling, glueing or otherwise assembling, for working wood, cork, bone, hard rubber, hard plastics or similar hard materials (excl. machines for working in the hand)	0.2%
Sewing machines (other than book-sewing machines...Sewing machines (other than book-sewing machines of heading 8440); furniture, bases and covers specially designed for sewing machines; sewing machine needles; parts thereof	0.2%
Parts of aircraft and spacecraft of heading 8801...Parts of aircraft and spacecraft of heading 8801 or 8802, n.e.s.	0.2%
Machinery, apparatus and equipment (other than the...Machinery, apparatus and equipment (other than the machine-tools of headings 8456 to 8465) for preparing or making plates, cylinders or other printing components; plates, cylinders and other printing components; plates, cylinders and lithographic stones, prepared for printing purposes, e.g. planed, grained or polished; parts thereof	0.2%
Ships' derricks; cranes, incl. cable cranes (excl....Ships' derricks; cranes, incl. cable cranes (excl. wheel-mounted cranes and vehicle cranes for railways); mobile lifting frames, straddle carriers and works trucks fitted with a crane	0.2%
Tubes and pipes, having circular cross-sections...Tubes and pipes, having circular cross-sections and an external diameter of > 406,4 mm, of flat-rolled products of iron or steel "e.g., welded, riveted or similarly closed"	0.2%
Ball or roller bearings (excl. steel balls of...Ball or roller bearings (excl. steel balls of heading 7326); parts thereof	0.2%
Tube or pipe fittings "e.g. couplings, elbows,...Tube or pipe fittings "e.g. couplings, elbows, sleeves", of iron or steel	0.2%
Powered aircraft "e.g. helicopters and aeroplanes...Powered aircraft "e.g. helicopters and aeroplanes"; spacecraft, incl. satellites, and suborbital and spacecraft launch vehicles	0.2%
Mineral or chemical fertilisers containing two or...Mineral or chemical fertilisers containing two or three of the fertilising elements nitrogen, phosphorus and potassium; other fertilisers (excl. pure animal or vegetable fertilisers or mineral or chemical nitrogenous, phosphatic or potassic fertilisers); animal, vegetable, mineral or chemical fertilisers in tablets or similar forms or in packages of a gross weight of <= 10 kg	0.2%
Sheets for veneering, incl. those obtained by...Sheets for veneering, incl. those obtained by slicing laminated wood, for plywood or for other similar laminated wood and other wood, sawn lengthwise, sliced or peeled, whether or not planed, sanded, spliced or end-jointed, of a thickness of <= 6 mm	0.2%
Saturated acyclic monocarboxylic acids and their...Saturated acyclic monocarboxylic acids and their anhydrides, halides, peroxides and peroxyacids; their halogenated, sulphonated, nitrated or nitrosated derivatives	0.2%
Surveying, incl. photogrammetrical surveying,...Surveying, incl. photogrammetrical surveying, hydrographic, oceanographic, hydrological, meteorological or geophysical instruments and appliances (excl. compasses); rangefinders	0.2%
Carbonates; peroxocarbonates "percarbonates";...Carbonates; peroxocarbonates "percarbonates"; commercial ammonium carbonate containing ammonium carbamate	0.2%
Machinery, not specified or included elsewhere in...Machinery, not specified or included elsewhere in this chapter, for the industrial preparation or manufacture of food or drink (other than machinery for the extraction or preparation of animal or fixed vegetable fats or oils); parts thereof	0.2%
Fork-lift trucks; other works trucks fitted with...Fork-lift trucks; other works trucks fitted with lifting or handling equipment (excl. straddle carriers and works trucks fitted with a crane)	0.2%
Military weapons, incl. sub-machine guns (excl....Military weapons, incl. sub-machine guns (excl. revolvers and pistols of heading 9302 and cutting and thrusting weapons of heading 9307)	0.2%
Preparations of a kind used in animal feedingPreparations of a kind used in animal feeding	0.2%
Prepared binders for foundry moulds or cores;...Prepared binders for foundry moulds or cores; chemical products and preparations for the chemical or allied industries, incl. mixtures of natural products, n.e.s.	0.2%
Lifting, handling, loading or unloading machinery,...Lifting, handling, loading or unloading machinery, e.g. lifts, escalators, conveyors, teleferics (excl. pulley tackle and hoists, winches and capstans, jacks, cranes of all kinds, mobile lifting frames and straddle carriers, works trucks fitted with a crane, fork-lift trucks and other works trucks fitted with lifting or handling equipment)	0.2%
Electric accumulators, incl. separators therefor,...Electric accumulators, incl. separators therefor, whether or not square or rectangular; parts thereof (excl. spent and those of unhardened rubber or textiles)	0.2%
Unmanufactured tobacco; tobacco refuseUnmanufactured tobacco; tobacco refuse	0.2%
Electric motors and generators (excl. generating...Electric motors and generators (excl. generating sets)	0.2%
Anti-knock preparations, oxidation inhibitors, gum...Anti-knock preparations, oxidation inhibitors, gum inhibitors, viscosity improvers, anti-corrosive preparations and other prepared additives, for mineral oils, incl. gasoline, or for other liquids used for the same purposes as mineral oils	0.2%
Machinery for making up paper pulp, paper or...Machinery for making up paper pulp, paper or paperboard, incl. cutting machines of all kinds, n.e.s.; parts thereof	0.2%
T-shirts, singlets and other vests, knitted or...T-shirts, singlets and other vests, knitted or crocheted	0.2%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons	0.2%
Gaskets and similar joints of metal sheeting...Gaskets and similar joints of metal sheeting combined with other material or of two or more layers of metal; sets or assortments of gaskets and similar joints, dissimilar in composition, put up in pouches, envelopes or similar packings; mechanical seals	0.2%
Compounds with other nitrogen function (excl....Compounds with other nitrogen function (excl. amine-function compounds; oxygen-function amino-compounds; quaternary ammonium salts and hydroxides; lecithin and other phosphoaminolipids; carboxyamide-function compounds; amide-function compounds of carbonic acid; carboxyimide-function, imine-function or nitrile-function compounds; diazo-, azo- or azoxy-compounds; organic derivatives of hydrazine or of hydroxylamine)	0.2%
Cruise ships, excursion boats, ferry-boats, cargo...Cruise ships, excursion boats, ferry-boats, cargo ships, barges and similar vessels for the transport of persons or goods	0.1%
Other sugars, incl. chemically pure lactose,...Other sugars, incl. chemically pure lactose, maltose, glucose and fructose, in solid form; sugar syrups not containing added flavouring or colouring matter; artificial honey, whether or not mixed with natural honey; caramel	0.1%
Agricultural, horticultural, forestry,...Agricultural, horticultural, forestry, poultry-keeping or bee-keeping machinery, incl. germination plant fitted with mechanical or thermal equipment; poultry incubators and brooders; parts thereof	0.1%
Instruments and appliances used in medical,...Instruments and appliances used in medical, surgical, dental or veterinary sciences, incl. scintigraphic apparatus, other electro-medical apparatus and sight-testing instruments, n.e.s.	0.1%
Nonwovens, whether or not impregnated, coated,...Nonwovens, whether or not impregnated, coated, covered or laminated, n.e.s.	0.1%
Metal-rolling mills and rolls therefor; parts of...Metal-rolling mills and rolls therefor; parts of metal-rolling mills	0.1%
Petroleum jelly, paraffin wax, micro- crystalline...Petroleum jelly, paraffin wax, micro- crystalline petroleum wax, slack wax, ozokerite, lignite wax, peat wax, other mineral waxes, and similar products obtained by synthesis or by other processes, whether or not coloured	0.1%
Self-adhesive plates, sheets, film, foil, tape,...Self-adhesive plates, sheets, film, foil, tape, strip and other flat shapes, of plastics, whether or not in rolls (excl. floor, wall and ceiling coverings of heading 3918)	0.1%
Chassis fitted with engines, for tractors, motor...Chassis fitted with engines, for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705 (excl. those with engines and cabs)	0.1%
Starches; inulinStarches; inulin	0.1%
Cereal grains otherwise worked, e.g. hulled,...Cereal grains otherwise worked, e.g. hulled, rolled, flaked, pearled, sliced or kibbled; germ of cereals, whole, rolled, flaked or ground (excl. cereal flours, and husked and semi- or wholly milled rice and broken rice)	0.1%
Tools for working in the hand, pneumatic,...Tools for working in the hand, pneumatic, hydraulic or with self-contained electric or non-electric motor; parts thereof	0.1%
Bookbinding machinery, incl. book-sewing machines ...Bookbinding machinery, incl. book-sewing machines (excl. machinery of heading 8441, general-purpose presses, printing machinery of heading 8443 and machines of uses ancillary to printing); parts thereof	0.1%
Orthopaedic appliances, incl. crutches, surgical...Orthopaedic appliances, incl. crutches, surgical belts and trusses; splints and other fracture appliances; artificial parts of the body; hearing aids and other appliances which are worn or carried, or implanted in the body, to compensate for a defect or disability	0.1%
Acyclic alcohols and their halogenated,...Acyclic alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives	0.1%
Sauce and preparations therefor; mixed condiments...Sauce and preparations therefor; mixed condiments and mixed seasonings; mustard flour and meal, whether or not prepared, and mustard	0.1%
Electronic integrated circuits; parts thereofElectronic integrated circuits; parts thereof	0.1%
Electrical insulators of any material (excl....Electrical insulators of any material (excl. insulating fittings)	0.1%
Gas, liquid or electricity supply or production...Gas, liquid or electricity supply or production meters, incl. calibrating meters therefor	0.1%
Sodium hydroxide "caustic soda", potassium...Sodium hydroxide "caustic soda", potassium hydroxide "caustic potash"; peroxides of sodium or potassium	0.1%
Flour, meal, powder, flakes, granules and pellets...Flour, meal, powder, flakes, granules and pellets of potatoes	0.1%
Pulley tackle and hoists (other than skip hoists);...Pulley tackle and hoists (other than skip hoists); winches and capstans; jacks	0.1%
Stoppers, caps and lids, incl. crown corks, screw...Stoppers, caps and lids, incl. crown corks, screw caps and pouring stoppers, capsules for bottles, threaded bungs, bung covers, seals and other packing accessories, of base metal	0.1%
Paper and paperboard, coated on one or both sides...Paper and paperboard, coated on one or both sides with kaolin "china clay" or other inorganic substances, with or without a binder, and with no other coating, whether or not surface-coloured, surface-decorated or printed, in rolls or in square or rectangular sheets, of any size (excl. all other coated papers and paperboards)	0.1%
Unwrought aluminiumUnwrought aluminium	0.1%
Diagnostic or laboratory reagents on a backing,...Diagnostic or laboratory reagents on a backing, prepared diagnostic or laboratory reagents whether or not on a backing, and certified reference materials (excl. compound diagnostic reagents designed to be administered to the patient, blood-grouping reagents, animal blood prepared for therapeutic, prophylactic or diagnostic uses and vaccines, toxins, cultures of micro-organisms and similar products)	0.1%
Paper, paperboard, cellulose wadding and webs of...Paper, paperboard, cellulose wadding and webs of cellulose fibres, coated, impregnated, covered, surface-coloured, surface-decorated or printed, in rolls or in square or rectangular sheets, of any size (excl. goods of heading 4803, 4809 and 4810)	0.1%
Machine tools for working stone, ceramics,...Machine tools for working stone, ceramics, concrete, asbestos-cement or like mineral materials or for cold-working glass (excl. machines for working in the hand)	0.1%
Salts, incl. table salt and denatured salt, and...Salts, incl. table salt and denatured salt, and pure sodium chloride, whether or not in aqueous solution or containing added anti-caking or free-flowing agents; sea water	0.1%
Mineral or chemical nitrogenous fertilisers (excl....Mineral or chemical nitrogenous fertilisers (excl. those in pellet or similar forms, or in packages with a gross weight of <= 10 kg)	0.1%
Articles for interior furnishing, of all types of...Articles for interior furnishing, of all types of textile materials (excl. blankets and travelling rugs, bedlinen, table linen, toilet linen, kitchen linen, curtains, incl. drapes, interior blinds, curtain or bed valances, lampshades and articles of heading 9404)	0.1%
Animal or vegetable fats and oils and their...Animal or vegetable fats and oils and their fractions, partly or wholly hydrogenated, inter-esterified, re-esterified or elaidinised, whether or not refined, but not further prepared	0.1%
Machine tools, incl. presses, for working metal by...Machine tools, incl. presses, for working metal by forging, hammering or die-stamping; machine tools, incl. presses, for working metal by bending, folding, straightening, flattening, shearing, punching or notching; presses for working metal or metal carbides (excl. machines of chapters 8456 to 8461)	0.1%
Moving, grading, levelling, scraping, excavating,...Moving, grading, levelling, scraping, excavating, tamping, compacting, extracting or boring machinery, for earth, minerals or ores; pile-drivers and pile-extractors; snowploughs and snowblowers (excl. those mounted on railway wagons, motor vehicle chassis or lorries, self-propelled machinery of heading 8429, lifting, handling, loading or unloading machinery of heading 8425 to 8428 and hand-operated tools)	0.1%
Polymers of styrene, in primary formsPolymers of styrene, in primary forms	0.1%
Articles of apparel and clothing accessories, incl...Articles of apparel and clothing accessories, incl. gloves, mittens and mitts, for all purposes, of vulcanised rubber (excl. hard rubber and footwear and headgear and parts thereof)	0.1%
Steam or other vapour generating boilers (excl....Steam or other vapour generating boilers (excl. central heating hot water boilers capable also of producing low pressure steam); superheated water boilers; parts thereof	0.1%
Raw hides and skins of bovine "incl. buffalo" or...Raw hides and skins of bovine "incl. buffalo" or equine animals, fresh, or salted, dried, limed, pickled or otherwise preserved, whether or not dehaired or split (excl. tanned, parchment-dressed or further prepared)	0.1%
Acrylic polymers, in primary formsAcrylic polymers, in primary forms	0.1%
Textile fabrics impregnated, coated, covered or...Textile fabrics impregnated, coated, covered or laminated with plastics (excl. tyre cord fabric of high-tenacity yarn of nylon or other polyamides, polyesters or viscose rayon; wallcoverings impregnated or covered with textile materials; floor coverings consisting of a textile backing and a top layer or covering of plastics)	0.1%
Angles, shapes and sections of iron or non-alloy...Angles, shapes and sections of iron or non-alloy steel, n.e.s.	0.1%
See More Products	57.4%

Source: Comtrade, Latest Available Data

To go further, check out our service Import Export Flows.

Main Services

5.0 bn USD of services exported in 2019
TransportationTransportation	39.77%
TravelTravel +	29.28%
Personal travelPersonal travel	29.28%
Financial servicesFinancial services	13.84%
Government servicesGovernment services	9.35%
Computer and information servicesComputer and information services	4.28%
Insurance servicesInsurance services	2.47%
Other business servicesOther business services	1.00%

38.7 bn USD of services imported in 2019
Other business servicesOther business services	41.30%
TravelTravel +	34.95%
Personal travelPersonal travel	30.87%
Business travelBusiness travel	4.08%
TransportationTransportation	17.72%
Insurance servicesInsurance services	2.55%
Financial servicesFinancial services	1.11%
Computer and information servicesComputer and information services	0.75%
Government servicesGovernment services	0.67%
Royalties and license feesRoyalties and license fees	0.65%
Cultural and recreational servicesCultural and recreational services	0.23%
Construction servicesConstruction services	0.05%

Source: United Nations Statistics Division, Latest Available Data

Sources of General Economic Information

Ministries: Ministry of Finance
Ministry of Industry, Trade & Investment
Statistical Office: National Bureau of Statistics
Central Bank: Central Bank
Stock Exchange: Nigerian Stock Exchange
Search Engines: Naijoo
Economic Portals: Proshare Nigeria
Nigeria Galleria

Political Outline

Current Political Leaders: President and Head of Government: Muhammadu BUHARI (since 29 May 2015) - All Progressives Congress - Bola TINUBU is scheduled to succeed Buhari as president on 29 May 2023.
Vice President Oluyemi "Yemi" OSINBAJO (since 29 May 2015)
Next Election Dates: Presidential election: February 2027
Parliamentary election: February 2027
Main Political Parties: Nigeria's main political parties include:
- All Progressives Congress (APC): socialist; in the 2023 general election, its candidate Bola Tinubu won the presidential election
- People's Democratic Party (PDP): centre-right, typically attracts national support holding more than half of parliamentary seats
- Young Progressive Party (YPP): social democracy
- Labour Party (LP) : centre-left
- All Progressives Grand Alliance (APGA): progressive
- Social Democratic Party (SDP): centre-left, moderate
- African Democratic Congress (ADC): centre-left.
Type of State: Federal presidential republic.
Executive Power: The President of the Republic is both the Head of State and Head of Government. The President is elected by popular vote for a four-year term, renewable once.
The president directs the executive branch of the federal government and is the commander-in-chief of the Nigerian armed forces.
Legislative Power: The two-chamber National Assembly consists of the Senate (109 seats: three per state plus one for the capital Abuja), whose members are elected by popular vote for a four-year term, and the House of Representatives (360 seats), whose members are also elected by popular vote for a four-year term. Each federal state has its own legislative body and a governor elected for four years by vote. The laws vary significantly among the states, particularly due to the application of Sharia law in some of them.

Indicator of Freedom of the Press

Definition

Definition:

The world rankings, published annually, measures violations of press freedom worldwide. It reflects the degree of freedom enjoyed by journalists, the media and digital citizens of each country and the means used by states to respect and uphold this freedom. Finally, a note and a position are assigned to each country. To compile this index, Reporters Without Borders (RWB) prepared a questionnaire incorporating the main criteria (44 in total) to assess the situation of press freedom in a given country. This questionnaire was sent to partner organisations,150 RWB correspondents, journalists, researchers, jurists and human rights activists. It includes every kind of direct attacks against journalists and digital citizens (murders, imprisonment, assault, threats, etc.) or against the media (censorship, confiscation, searches and harassment etc.).

World Rank:: 120/180
Evolution:: 115/180

Indicator of Political Freedom

Definition

Definition:

The Indicator of Political Freedom provides an annual evaluation of the state of freedom in a country as experienced by individuals. The survey measures freedom according to two broad categories: political rights and civil liberties. The ratings process is based on a checklist of 10 political rights questions (on Electoral Process, Political Pluralism and Participation, Functioning of Government) and 15 civil liberties questions (on Freedom of Expression, Belief, Associational and Organizational Rights, Rule of Law, Personal Autonomy and Individual Rights). Scores are awarded to each of these questions on a scale of 0 to 4, where a score of 0 represents the smallest degree and 4 the greatest degree of rights or liberties present. The total score awarded to the political rights and civil liberties checklist determines the political rights and civil liberties rating. Each rating of 1 through 7, with 1 representing the highest and 7 the lowest level of freedom, corresponds to a range of total scores.

Ranking:: Partly Free
Political Freedom:: 4/7
Civil Liberties:: 25/60

Political freedom in the world (interactive map)
Source: Freedom in the World Report, Freedom House

COVID-19 Country Response

COVID-19 epidemic evolution: To find out about the latest status of the COVID19 pandemic evolution and the most up-to-date statistics on the COVID-19 disease in Nigeria, please visit the COVID-19 Nigeria website.

For the international outlook you can consult the latest situation reports published by the World Health Organisation as well as the global daily statistics on the coronavirus pandemic evolution including data on confirmed cases and deaths by country.
Sanitary measures: To find out about the latest public health situation in Nigeria consult the COVID-19 Nigeria website and Implementation Guidelines for Containment of COVID-19.
Travel restrictions: The COVID-19 situation, including the spread of new variants, evolves rapidly and differs from country to country. All travelers need to pay close attention to the conditions at their destination before traveling. Regularly updated information for all countries with regards to Covid-19 related travel restrictions in place including entry regulations, flight bans, test requirements and quarantine is available on TravelDoc Infopage.
It is also highly recommended to consult COVID-19 Travel Regulations Map provided and updated on the daily basis by IATA.
The US government website of Centers of Disease Control and Prevention provides COVID-19 Travel Recommendations by Destination.
The UK Foreign travel advice also provides travelling abroad advice for all countries, including the latest information on coronavirus, safety and security, entry requirements and travel warnings.
Import & export restrictions: For information on all the measures applicable to movement of goods during the period of sanitary emergency due to the COVID-19 outbreak (including eventual restrictions on imports and exports), there is mention of export restrictions of masks in KPMG’s report Government and institution measures in response to COVID-19.

For a general overview of trade restrictions due to COVID-19 pandemic, please consult the International Trade Centre's COVID-19 Temporary Trade Measures webpage.
Economic recovery plan: For information on the economic recovery scheme put in place by the Nigerian government to address the impact of the COVID19 pandemic on the Nigerian economy, refer to the article Deloitte report COVID-19: Economic, tax and other fiscal stimulus measures in Nigeria and KPMG’s report Government and institution measures in response to COVID-19.

For a general overview of the key economic policy responses to the COVID-19 outbreak (fiscal, monetary and macroeconomic) taken by the Nigerian government to limit the socio-economic impact of the COVID-19 pandemic, please consult the section dedicated to Nigeria in the IMF’s Policy Tracker platform.
Support plan for businesses: For information on the local business support scheme established by the Nigerian government and other organizations to help small and medium-sized companies to deal with the economic impacts of the COVID19 epidemic on their activity refer to the Central Bank of Nigeria’s Guidelines For The Implementation of the n50 Billion Targeted Credit Facility and KPMG’s report COVID-19: The Central Bank of Nigeria (CBN) Support Measures.

For a general overview of international SME support policy responses to the COVID-19 outbreak refer to the World Bank's Map of SME-Support Measures in Response to COVID-19.
Support plan for exporters: There are no specific support plans for exporters in the Nigeria so far. For future possible up-to-date information please visit the websites of the Federal Ministry of Trade and Investment (FMITI) and the Nigerian Export Promotion Council.

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