| President |
Olusegun Obasanjo (since 29 May 1999) |
| Location |
Western Africa, bordering the Gulf of Guinea, between Benin and Cameroon |
| Independence |
October 1, 1960 (from UK) |
| Population (2005E) |
128,771,988 |
| Languages |
English (official), Hausa, Yoruba, Igbo (Ibo), Fulani |
| Religion |
Muslim 50%, Christian 40%, indigenous beliefs 10% |
| Ethnic Group(s) |
Nigeria, Africa's most populous country, is composed of more than 250 ethnic groups; the following are the most populous and politically influential: Hausa and Fulani 29%, Yoruba 21%, Igbo (Ibo) 18%, Ijaw 10%, Kanuri 4%, Ibibio 3.5%, Tiv 2.5% |
|
| Minister of Finance |
Mrs. Nenadi E. Usman |
| Currency/Exchange Rate (4/20/07) |
1 Naira (NGN) = 0.0078 USD |
| Inflation Rate (Consumer Price Index) |
(2005E): 13.5% (2006E): 9.2% |
| Gross Domestic Product |
(2005E): $97 billion (2006E): $121 billion |
| Real GDP Growth Rate |
(2005E): 6.5% (2006E): 5.8% |
| Unemployment Rate |
(2006E): 5.8% |
| External Debt |
(2006E): $6.3 billion |
| Exports |
(2005E): $48.1 billion (2006E): $59.2 billion |
| Exports - Commodities |
petroleum and petroleum products 95%, cocoa, rubber |
| Exports - Partners (2005E) |
US 52.5%, Spain 8.2%, Brazil 6.1% |
| Imports |
(2005E): $17.3 billion (2006E): $21 billion |
| Imports - Commodities |
machinery, chemicals, transport equipment, manufactured goods, food and live animals |
| Imports - Partners (2005E) |
China 10.4%, US 7.3%, UK 6.7%, Netherlands 6.1%, France 5.9%, Germany 4.2% |
| Current Account Balance |
(2005E): $24.2 billion (2006E): $29.9 billion |
|
| Minister of State for Petroleum |
Dr. Edmund Daukoru |
| Proven Oil Reserves (January 1, 2007E) |
36.2 billion barrels |
| Oil Production (2006E) |
2,452 thousand barrels per day, of which 93% was crude oil. |
| Oil Consumption (2006E) |
297 thousand barrels per day |
| Net Oil Exports (2006E) |
2,155 thousand barrels per day |
| Crude Oil Refining Capacity (2007E) |
439 thousand barrels per day |
| Proven Natural Gas Reserves (January 1, 2007E) |
182 trillion cubic feet |
| Natural Gas Production (2004E) |
800 billion cubic feet |
| Natural Gas Consumption (2004E) |
325 billion cubic feet |
| Net Natural Gas Exports (2004E) |
475 billion cubic feet |
| Recoverable Coal Reserves (2003E) |
209 million short tons |
| Coal Production (2004E) |
0.02 million short tons |
| Coal Consumption (2004E) |
0.02 million short tons |
| Electricity Installed Capacity (2004E) |
5.9 gigawatts |
| Electricity Production (2004E) |
19 billion kilowatt hours |
| Electricity Consumption (2004E) |
18 billion kilowatt hours |
| Total Energy Consumption (2004E) |
1 quadrillion Btus*, of which Oil (58%), Natural Gas (34%), Hydroelectricity (8%), Coal (0%), Nuclear (0%), Other Renewables (0%) |
| Total Per Capita Energy Consumption (2004E) |
8.1 million Btus |
| Energy Intensity (2004E) |
6,511.6 Btu per $2000-PPP** |
|
| Minister of Environment |
Mrs. Helen Esuene |
| Energy-Related Carbon Dioxide Emissions (2004E) |
94 million metric tons, of which Oil (45%), Natural Gas (19%), Coal (0%) |
| Per-Capita, Energy-Related Carbon Dioxide Emissions (2004E) |
0.7 metric tons |
| Carbon Dioxide Intensity (2004E) |
0.6 Metric tons per thousand $2000-PPP** |
| Environmental Issues |
soil degradation; rapid deforestation; urban air and water pollution; desertification; oil pollution - water, air, and soil; has suffered serious damage from oil spills; loss of arable land; rapid urbanization |
| Major Environmental Agreements |
party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Dumping, Marine Life Conservation, Ozone Layer Protection, Wetlands signed, but not ratified: none of the selected agreements |
|
| Organization |
The Nigerian National Petroleum Corporation (NNPC) manages the state-owned oil industry. The NNPC holds 49% in the Nigeria Liquefied Natural Gas (NLNG) Company. |
| Foreign Company Involvement |
British Gas, BP, Chevron, ConocoPhilips, Deminex, ENI/Agip, ExxonMobil, Nexen, Petrobras, Shell, Sinopec, Statoil, Sun Oil, Tenneco, Total |
| Major Oil Fields |
Bonga, Cawthron Channel, EA, Edop, Ekkulama, Escravos Beach, Forcados Yorki, Jones Creek, Meren, Nembe, Okan, Oso, Ubit |
| Major Terminals |
Bonny Island, Brass River, Escravos, Forcados, Odudu, Pennington, Qua (Kwa) Iboe |
| Major Refineries |
Port Harcourt-Rivers State (60,000), Kaduna (110,000), Warri (118,750), Port Harcourt-Alesa Eleme (150,000), |
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* The total energy consumption statistic includes petroleum, dry natural gas, coal, net hydro, nuclear, geothermal, solar, wind, wood and waste electric power. The renewable energy consumption statistic is based on International Energy Agency (IEA) data and includes hydropower, solar, wind, tide, geothermal, solid biomass and animal products, biomass gas and liquids, industrial and municipal wastes. Sectoral shares of energy consumption and carbon emissions are also based on IEA data.
**GDP figures from OECD estimates based on purchasing power parity (PPP) exchange rates.
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