Nigeria: Economic situation

28-01-2016

After years of sustained growth, Nigeria is now Africa's biggest economy. However, with oil and gas as the main source of foreign exchange and federal government revenue, it is suffering from the fall in oil prices. Nigeria is yet to transform into a diversified and competitive modern economy. This publication updates an EPRS note of May 2015, PE 556.984.

After years of sustained growth, Nigeria is now Africa's biggest economy. However, with oil and gas as the main source of foreign exchange and federal government revenue, it is suffering from the fall in oil prices. Nigeria is yet to transform into a diversified and competitive modern economy. This publication updates an EPRS note of May 2015, PE 556.984.