With a population of over 218.5m as of July 2022 and home to plentiful natural resources, Nigeria is simultaneously Africa’s largest economy and its most populous country. Since its independence in 1960 it has seen significant economic expansion, especially in the years after its transition to democracy in 1999. The current administration is the longest uninterrupted government since 1960, and under its tenure the country has seen economic, political, and cultural gains alongside greater international…
From The Report: Nigeria 2023
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If its population reaches 377m by 2050 as is projected, Nigeria is poised to become the world’s third-most populous country, with a diverse and complex social architecture comprising more than 250 ethnic groups and a plethora of faiths. The peaceful handover of power at both the executive and legislative level following elections in March 2023 buttressed Nigeria’s status as a symbol of political stability in the region. The new government faces several pressing issues, ranging from an Islamist insurgency in the north and secessionist agitation in the south-east, to an underperforming oil sector in the south-south, in addition to sluggish economic growth and a depreciating currency.
This chapter contains interviews with Ngozi Okonjo-Iweala, Director-General, World Trade Organisation; Antonio Pedro, Acting Executive Secretary, UN Economic Commission for Africa; and Omar Alieu Touray, President, ECOWAS Commission.