Profile

Climate
Vegetation

People and Culture

Entry Requirements

Banking Hours

Nigerian Economic Indicators

Gross Domestic Product at Current Factor Cost 

Location
Situated on West Coast of Africa, lies between Latitudes 4o North of the Equator and Longitudes 3o and 14o East of the Greenwich Meridian. Shares borders with Benin and Niger in the West, Cameroun in the East, Niger and Chad in the North and the Gulf of Guinea in the South.

 
Country Profile – Land and People
Area
923,768.64km2
Capital
Abuja
  Over 103 million people (by 1991 Census) consisting of 374 ethnic groups with Hausa, Igbo and Yoruba groups with constituting the major languages
Official Language
English
National Day
October 1st
Currency
Naira = 100 kobo
Exchange Rate
N95.00 US$1.00 (approx.)
Time
GMT + I hour
Weight and Measurement
Metric
Political Structure
Three-tier structure: A Federal Government, 36 State Governments, 
Federal Capital Territory and 774 Local Governments.
Main Commercial/Industrial Cities
Lagos, Kano, Onitsha, lbadan, Aba, Jos, Warri, Maiduguri, Oshogbo
Major Industrial Complexes
Refineries & Petrochemicals:
Kaduna, Warri, Port Harcourt, Eleme, Eket. Iron and Steel: Ajaokuta, Aladja Jos, Katsina, Oshogbo

Machine Tools:
Oshogbo

Fertilizer:
Onne-Port Harcourt, Kaduna, Mirina, Kano, etc.

Liquefied Natural Gas (LNG):
Bonny

Aluminium Smelter:
Ikot Abasi

Main Sea Ports
Lagos - Apapa, Tin-Can Island, Roro, Warri, Port Harcourt, 
Onne Deep Sea and Hub Port, Calabar (EPZ)
Main Airports
Lagos, Kano, Abuja, Port Harcourt, Enugu, Ilorin, Jos, Owerri,  Calabar and Yola.
Road Network
Over 150,000 km of inter-city paved roads including dual carriage 
trunks.
Railways
Two main lines of South-West to North-East and South-East to 
North-West inter-linked and terminating at Lagos, Port-Harcourt, 
Maiduguri, Nguru, Jos; with major Junctions at Kaduna, Kafanchan  and Zaria Guage: 1067mm 3505 km route.
Main Rivers
Niger and Benue and numerous inland rivers
Energy
Hydroelectric:
Kainji, Jebba, Shiroro

Thermal & Gas:
Egbin, Ughelli

Coal:
Oji River

National Grid for distribution:
National Pipeline Network with regional depots for petroleum product distribution

Climate
Like most African countries, the climate is tropical with two main marked seasons. The dry season lasting from 
November to March with the dry dust-laden North-easterly winds blowing across the country. The rainy season is from April to October. During this period the moisture-laden south-westerly winds blow from the coast bringing in the rains. Rainfall decreases from about 1 500 mm in the south to about 500 mm in the North. The temperature is generally high ranging between 22 oC and 34 oC except the Jos Plateau, the Mambila Plateau and the Obudu Cattle Ranch where the temperature is relatively cooler all year round.

Vegetation
Reflecfive of the varied topography and climate typical of the tropics, Nigeria is blessed with very rich and diverse plant and animal life. There are four vegetation belts: the Mangrove swamp on the coast; the rain forest, the woodland Savannah and the Guinea and Sudan Savannah in the extreme North.

People and Culture
Nigeria is a combination of over 2000 years of traditional culture with one of the most modem life style on the African continent.
Nigeria's pool of highly educated and trained manpower is the largest in Africa. Skilled and trainable manpower at all levels with industrial experience abound at very competitive rates and are a major attraction for siting investments in Nigeria.

Entry Requirements
All foreigners coming into quired to be in possession of ments i.e. Passport and Travel

  1. Valid visas or entry permits (applicable to countries with no visa abolition agreement Nigeria)
  2. Evidence of sufficient funds for sustenance while in Nigeria
  3. Citizens from Economic Community of West African States (ECOWAS) do not need visa/ entry permits to enter Nigeria for visits less than or equal to 90 days but are required to be in possession of valid passports or ECOWAS Travel Certificates. The ECOWAS countries includes: Ghana, Togo, Benin, Sierra Leone, Cote d'Voire, Liberia, Gambia, Senegal, Guinea Bissau, Mauritania, Mali, Burkina Faso, Cape Verde & Principe, Niger, Guinea. There is free movement of goods and services in this region. Investors should take advantage of the entire market by investing in Nigeria.
Banking Hours
The Business hours for banks in Nigeria is generally between 8.00 am – 4.00 pm on Mondays to Fridays, except on public holidays when they are all closed. However, some of the banks open on Saturdays between 10.00 am to 3.00pm.Business hours in all Government offices is generally between 8.00 am - 4.00 pm in the Private Section 8.00 am – 5.00 pm (Mondays to Fridays)

 
 
Nigerian Economic Indicators
1990
1991
1992
1993
1994
1995
1996
1997
1998
GDP at current market prices (N billion)
261
324
550
697
915
1978
2824
2940
2837
GDP at current cost (N billion)
258
320
544
692
911
1961
2740
2835
2722
Non-oil GDP (N billion)
171.7
200.1
291
446
682
1168
1545
1733
1963
Average Inflation Rate (%)
7.5
13.0
44.5
57.2
57.0
72.8
29.3
8.5
10.0
Real GDP Growth Rate (%)
8.2
4.7
3.0
2.7
1.3
2.2
3.4
3.1
2.4
Average Exchange Rage (N/US$)
8.00
9.90
17.30
22.05
21.88
21.88
21.88
21.88
21.88
Export (FOB) (N billion)
109.9
121.5
207.3
218.8
206.1
950.7
1309.5
1241.7
813.9
Import (CIF) (N billion)
45.7
87
145.9
166.1
162.8
755.1
562.6
845.7
837.4
External Reserves (N billion)
35
44.3
49.5
95.8
30.5
31.6
174.3
262.2
n.a

 
Gross Domestic Product at Current Factor Cost ( Billion Naira)  
Activity Sector
1996
As % of Total 
1997
As % of 

Total 

1998
As % of Total
Oil 

Non-Oil:

Agriculture

Livestock

Forestry

Fishing

Mining & Quarrying

Coal

Metal Ore

Quarrying & others

Manufacturing

Utilities

Building & construction

Transport

Communication

Wholesale & Retail Trade

Hotel & Restaurant

Finance & Insurance

Real Estate & Business Services

Housing (Dwelling)

Community, social & Personal Services

Producers of Government Services

Grand Total 

1 194561.27

1 545 897.22

713 786.10

88 150 18.00

9 497.90

30 022.89

2417.22

0.38

10.50

2 406.34

132 554.26

2 006.29

16 042.21

62 137.84

942.72

357 053.01

3 328.67

27 751.65

1 455.95

60 599.28

17 107.64

21 043.41

2 749 458.49 

43.59

56.41

26.05

3.22

0.35

1.10

0.09

0.02

0.43

0.09

4.84

0.07

0.59

2.27

0.03

13.03

0.12

1.01

0.05

2.21

0.62

0.77

100


 

1 102 004.65

1 732 994.04

807 759.75

98 033.82

11 500.06

36 255.74

2 826.72

0.42

9.90

2 816.40

144 106.95

2 037.58

18 775.74

71 465.63

1 072.12

392 343.38

4 285.70

30 923.26

1 616.93

67 385.39

21 244.23

21 361.04

2 834 998.69

38.87

61.13

28.49

3.49

0.41

1.28

0.10

0.01

0.35

0.10

5.08

0.07

0.66

2.52

0.04

13.84

0.15

1.09

0.06

2.38

0.75

0.75

100

759 325.30

1 962 185.41

896 065.21

106 419.79

14 547.64

43 725.90

3 636.91

0.43

10.39

3 626.09

146 488.68

2 122.49

24 525.85

79 731.40

1 184.56

437 842.40

4 865.11

35 510.41

1 839.23

99 310.56

27 775.87

36 603.40

2721 510.71

27.90

72.10

32.93

3.91

0.53

1.61

0.13

0.01

0.29

0.13

5.38

0.08

0.90

2.93

0.04

16.09

0.18

1.30

0.07

3.65

1.02

1.34

100

Go to Investment Page