Although the Nigerian economy has continued to achieve positive growth as it recovers from the oil price shock and the 2016 recession, more remains to be done to achieve economic diversification. According to the National Bureau of Statistics, the economy grew by 0.8% in 2017, compared to a contraction of 1.6% in 2016, driven primarily by a...
With a tax collection rate of roughly 6% of GDP, Nigeria’s tax revenues are lower than its regional peers. The government is working on several fronts to boost its take. The stated goal is to more than double that ratio by 2020, which will involve long-term policy reforms as well as targeting foreign direct investment. Additionally, it is not...
Nigeria is Africa’s biggest oil exporter and, with a population of 193m, the region’s biggest economy and largest...
The most populous country in Africa with abundant natural resources, Nigeria is the continent’s largest economy by GDP. Combining oil and gas wealth with the entrepreneurial efforts of its predominantly young population, Nigeria has developed a business-friendly environment over two decades of civilian rule and in the nearly 60 years since independence. These achievements are all the more...
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