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25 February, 2021updated 29 Oct 2021 18:11

Investing in Nigeria: what you need to know

All of the key data and information needed when considering investing in Nigeria.

By Carmen

As of 2021, Nigeria has a population of 211.4 million, making it the sixth largest country in the world by this measure. There are 50.7% males and 49.3% females.

There are 43.2 million people employed in Nigeria, with an unemployment rate of 31.8% – 21.4 million people.

Nigeria is the 29th largest economy in the world with a GDP of $442.5bn. Nigeria’s GDP has grown by 22% between 2010 and 2021 and is expected to grow by 41% by 2025.

As of 2021 there are 1.8 million students in tertiary education in Nigeria, with 12.2 million students in secondary and 26.3 million in primary education.

Nigeria ranked 131st in the World Bank’s Doing Business Report (2020). In the 2019 report it finished 146th. In the World Economic Forum’s Global Competitiveness Report (2019), Nigeria finished 116th, after ranking 116th in 2018.

Public healthcare expenditure totalled $1.8bn and private healthcare expenditure equalled $13.6bn in 2018.

The largest urban areas in Nigeria are Lagos (13.3 million people), Kano (4.7 million) and Abuja (3 million).

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