Country Profile
From The Report: Nigeria 2022
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Nigeria is the 14th-largest country in Africa by land mass and is culturally diverse, with a population of more than 200m spanning over 250 ethnic groups. It is rich in natural resources, with some of the largest proven oil reserves in Africa, and has a strong agriculture sector, with major exports including rubber, cocoa, peanuts and palm oil. The country gained independence in 1960 and declared itself a federal republic in 1963. The presidential election in 1999 ushered in a period of relative stability and marked a return to civilian rule, providing strong foundations to support a post-pandemic rebound.

This chapter contains interviews with President Muhammadu Buhari; and Helen Grant, Member of Parliament and UK Trade Envoy to Nigeria.

Articles from this Chapter

Overview

Brighter future: Africa’s largest economy looks ahead to its next chapter
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With a population of over 200m and abundant natural resources, Nigeria is Africa’s largest economy. The country has developed an investment-friendly business climate over two decades of civilian rule and in the nearly 60 years since independence, boosted by oil and gas wealth, and the entrepreneurial spirit of its young population. However, around 40% of Nigerians live below the poverty line, and facilitating sustainable, inclusive growth is at the top of the government’s agenda. In addition…

Overview

Brighter future: Africa’s largest economy looks ahead to its next chapter
OBG
plus

With a population of over 200m and abundant natural resources, Nigeria is Africa’s largest economy. The country has developed an investment-friendly business climate over two decades of civilian rule and in the nearly 60 years since independence, boosted by oil and gas wealth, and the entrepreneurial spirit of its young population. However, around 40% of Nigerians live below the poverty line, and facilitating sustainable, inclusive growth is at the top of the government’s agenda. In addition…

Viewpoint

Creative energy: President Muhammadu Buhari, on supporting economic recovery with targeted investment in youth and infrastructure
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Viewpoint:President Muhammadu Buhari Despite the struggles that we may face in the future, it will be necessary to accelerate our economic recovery, promote social inclusion and strengthen the fundamentals of sectors across the economy. Many young Nigerians excel in spheres including sport, entertainment, ICT and commerce, and are globally recognised as high achievers. The government is committed to actively engaging with the creative energies of our young people. This will in turn create…

Overview

Federal foundations: Relative political stability to support a post-pandemic rebound
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In February 2019 Nigerians went to the polls to elect a president, National Assembly and other leaders across the state and federal levels. Incumbent head of state Muhammadu Buhari won re-election with around 56% of the votes. It was the sixth general election since the return of civilian rule in 1999. The next round of elections are expected to be held in February 2023. Constitutional Government Nigeria is a federal republic of 36 states and the Federal Capital Territory (FCT). Since independence…

Interview

Ties that bind: Helen Grant, Member of Parliament and UK Trade Envoy to Nigeria, on enhancing bilateral relations
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Interview: Helen Grant How would you assess the bilateral relationship between the UK and Nigeria? HELEN GRANT: The UK has a historical relationship with Nigeria that spans decades. As Africa’s largest economy and most populous country, Nigeria is a notable contributor to the continent and the UK. A stable, secure and prosperous Nigeria is very much in the UK’s interest; the relationship seeks to deliver jobs and opportunities for Nigerians, while creating opportunities for UK businesses. Nigeria…

Analysis

Digital recovery: Creation of continent-wide e-commerce and electronic trade protocols takes on new urgency
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In September 2020 Wamkele Mene, the secretary-general of the African Continental Free Trade Area (AfCFTA) Secretariat, told a conference in South Africa that AfCFTA negotiations on e-commerce and digital trade would be fast-tracked, with the Covid-19 pandemic heightening the need for an adequate legal and governance framework. These talks were initially planned for phase three of the trade zone’s implementation, but were moved up to the second phase alongside competition policy, intellectual property…