Learn more about the Nigeria economy, including the population of Nigeria, GDP, facts, trade, business, inflation and other data and analysis on its economy

Economics

Nigerian households are experiencing some of the fastest urbanisation rates in the world

Nigerian households are experiencing some of the fastest urbanisation rates in the world, as workersare flocking to expanding first- and second-tier cities across the country. This is creating a large and growing number of single-person households, largely inhabited by males. However, many Nigerian homes are also extremely crowded, as large families squeeze into small housing […]

Economics

NNPC denies involvement in $25m failed oil block deal

ABUJA—The Nigerian National Petroleum Corporation, NNPC, yesterday, dissociated itself from the $25 million failed oil block bid deal by an Indian company, Oil and Natural Gas Corp-Mittal Energy Limited. Commenting on the failed oil block bid deal, NNPC, in a statement by its Group General Manager, Group Public Affairs Division, Mr. Ohi Alegbe, said attempts […]

Economics

Broadband business very profitable in Nigeria, FG tells investors at ITU World

Nigeria may have taken a sizeable number of Small and Medium size Entrepreneurs, SMEs to the just concluded ITU telecom World in Budapest, Hungary, to showcase the potential of the country’s informal sector, but the opportunity that was not to be lost was that of attracting global investment community into Nigeria’s broadband market. Vanguard reliably […]

Economics

Nigeria, others lost $4bn to shady oil deals – GLOBAL WITNESS

International transparency group, Global Witness, yester-day, stated that Nigeria, Angola, Republic of Congo and the Democra-tic Republic of Congo lost about $4 billion (N800 billion) in shady oil and mining deals. Global Witness, in a recently released report, disclosed that anonymous companies facilitated the loss of national wealth on an epic scale, while it questioned […]

Economics

Govt defers plan to slash gas supply to Ghana

Nigeria has deferred a plan to slash gas exports to Ghana beginning Friday over an outstanding debt of $181 million, alleviating a threat that could have worsened electricity blackouts and caused another headache for the government. The West African Gas Pipeline Company (WAGPCo) said it was "cautiously optimistic" that Nigeria's N-Gaz consortium would accept a […]

Economics

MD says reforms have improved port services

Mr Habib Abdulahi, Managing Director of Nigeria Ports Authority (NPA), has said that Nigerian ports have witnessed more efficient services and upsurge in cargo throughput because of the reforms in the sector. Abdulahi, represented by Mr Nasir Mohammed, General Manager, Abuja Liaison Office of NPA, made the statement on Tuesday during the NPA day at […]