Nigeria: Economic situation

06-05-2015

After years of sustained growth, Nigeria has become Africa's biggest economy, but is currently experiencing the strong impact of declining oil prices. The share of the oil and gas sector in the economy has diminished, but the sector remains the main source of foreign exchange and federal government revenues. The country is yet to transform its economy into a diversified and competitive modern economy.

After years of sustained growth, Nigeria has become Africa's biggest economy, but is currently experiencing the strong impact of declining oil prices. The share of the oil and gas sector in the economy has diminished, but the sector remains the main source of foreign exchange and federal government revenues. The country is yet to transform its economy into a diversified and competitive modern economy.