| 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
- Valid visas or entry permits
(applicable to countries with no visa abolition agreement Nigeria)
- Evidence of sufficient funds
for sustenance while in Nigeria
- 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 |
|
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 |
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