Nigeria's Economy

The Nigerian economy is one of the most developed economies in Africa. According to the UN classification, Nigeria is a middle-income nation with developed financial, communication and transport sectors. It has the second largest stock exchange in the continent.

Labor force	47.33 million (2009 est.)
Labor in agriculture	70%
Budget revenues	$10.49 billion
Budget expenditures	$18.08 billion (2009 est.)
Industrial production growth rate	-1.8% (2009 est.)
Current account balance	-$9.394 billion (2009 est.)
Exports	$45.43 billion (2009 est.)
Imports	$42.1 billion (2009 est.)
Foreign exchange reserve	$46.54 billion (December 2009 est.)
External Debt	$9.689 billion (December 2009 est.)

Data on First bank Nigeria:

First Bank Nigeria Aba Alaoji Layout Branch, Abia

Bank Abia, Nigeria

Bank Nigeria

Oil-rich Nigeria has been hobbled by political instability, corruption, inadequate infrastructure, and poor macroeconomic management but in 2008 began pursuing economic reforms. Nigeria's former military rulers failed to diversify the economy away from its overdependence on the capital-intensive oil sector, which provides 95% of foreign exchange earnings and about 80% of budgetary revenues. Following the signing of an IMF stand-by agreement in August 2000, Nigeria received a debt-restructuring deal from the Paris Club and a $1 billion US Dollars or 694.9 Million Euros on currency converter date: April 8, 2011 credit from the IMF.

GDP (purchasing power parity):

$369.8 billion (2010 est.) 

country comparison to the world: 32

$346.2 billion (2009 est.)

$327.9 billion (2008 est.) 

note: data are in 2010 US dollars and Euro 

GDP (official exchange rate):

$206.7 billion US Dollars (2009 est.)