Nigeria Economy - 1986

GEOGRAPHICAL NAMES 

GDP: $63 billion (1984), $630 per capita;

— 0.8% growth rate (1984 est.); 40% inflation rate (August 1985)

Natural resources, petroleum, tin, columbite, iron ore, coal, limestone, lead, zinc

Agriculture: main crops—peanuts, cotton, cocoa, rubber, yams, cassava, sorghum, palm kernels, millet, corn, rice; livestock; an illegal producer of cannabis for the international drug trade

Fishing- catch 512,000 metric tons (1982); imports nonprocessed and processed fish

Major industries: mining—crude oil, natural gas, coal, tin, columbite; processing industries—oil palm, peanut, cotton, rubber, petroleum, wood, hides, skins; manufacturing industries—textiles, cement, building materials, food products, footwear, chemical, printing, ceramics

Electric power. 3,732,900 kW capacity (1985); 8.175 billion kWh produced (1985), 80 kWh per capita

Exports: $11.2 billion (f.o.b., 1984); oil (98%), cocoa palm products, rubber, timber, tin

Imports $9 5 billion (f.o.b., 1984); machinery and transport equipment, manufactured goods, chemicals, wheat

Major trade partners: UK, EC, US

Budget: (1985) revenues, $12.3 billion; current expenditures, $6.0 billion; capital expenditure $6.4 billion

Monetary conversion rate: .98 naira=US$l (December 1985)

Nigeria

Fiscal year calendar year

NOTE: The information regarding Nigeria on this page is re-published from the 1986 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Nigeria 1986 information contained here. All suggestions for corrections of any errors about Nigeria 1986 should be addressed to the CIA or the source cited on each page.