Investor Presentaiton
which favored enhanced financing of the private sector, coupled with the
relative stability in the goods and foreign exchange market, as well as
moderation of uncertainty in the economy and the effectiveness of NIPC
which enhanced investors' confidence.
Table 4.5.1: Nigeria Key Economic and Financial Indicators
2000
2004
2006
2007
2008
Estimate
2009
Nominal Gross Domestic Product (GDP)
at market prices (billions of naira)
4,981
11,674
18,710
20,845
24,989
Nominal GDP (US$ bn)
48.98
87.85
145.43
165.70
209.50
29,398
202.16
Real GDP Growth"
5.30
10.60
6.00
6.20
6.80
4.00-5.80
Real Per Capita GDP Growth
3.90
7.60
3.40
3.10
3.40
3.00
Hydrocarbons GDP
3.30
-4.50
-5.60
-4.50
1.00
Crude Oil production (mn bpd)
2.04
2.34
2.22
2.16
1.95
Non-Oil GDP Growth'
13.30
9.60
9.60
9.50
7.60
Non-Oil Sectors (%) of Total GDP
61.30
62.00
64.40
63.00
66.55
Industrial Production"
7.50
3.70
2.10
3.40
5.30
2.00
Consumer Price Index (CPI)"
6.90
15.00
8.30
5.50
11.00
11.10
Total Investment (%) of GDP
22.70
23.50
23.80
24.00
24.30
25.80
Domestic Savings (%) of GDP
27.80
36.50
38.70
34.50
35.50
31.50
Monitoring Policy Rate (%) 2
14.00
15.00
10.00
9.50
9.75
<1
Broad Money Growth (%)*
28.00
14.00
39.90
30.90
53.70
30.60
Naira: US$I (period average)
101.69
132.88
128.65
125.81
119.28
145.42
Consolidated Government Operations³
Government Expenditure"
23.20
15.60
14.10
15.80
13.00
18.00
Government Revenue**
20.90
21.90
21.70
17.20
12.10
10.30
Overall Fiscal Balance"
-2.10
6.30
7.60
1.40
-2.50
-4.50
Net Public Debt"
Excess Crude Account (US$bn)
59.40
5.10
13.80
14.50
14.70
23.90
13.30
17.30
20.00
Key: Sub-Saharan Africa's second-largest economy, after South Africa and equivalent
to one-half of West Africa's combined GDP. 2 The Central Bank of Nigeria's
benchmark rate. 3 Representing federal, state and local governments. "The central
bank could relax monetary policy in coming months. 'Annual percent change. "As
percent of GDP
Sources: Nigerian authorities; IMF African Department database; International Financial
Statistics, Economist Intelligence Unit, Renaissance Capital and International Energy Agency.
Fact File: Area: 923,773 sq Km (356,669 sq miles). Population: 148. Imn (mid-2007).
Form of State: Federal Republic, comprising 36 states and the Federal Capital Territory
(Abuja). Commercial capital: Lagos. GDP per capita: US$1,557(2009). Languages:
English (official), Ibo, Hausa, Yoruba. Legal system: Based on English common law.
Sovereign credit rating: BB-. Solid mineral deposits: Columbite, gemstones, tantalite,
talc, rock salt, gypsum, tin, iron ore, uranium, limestone, lead/zinc, gold and coal.
The Nigerian economy is fundamentally strong as depicted by the macro-
economic indicators. GDP is growing at over 6%, while the world GDP is
growing at barely 3%., the political terrain is stable and Fitch rated the Nigeria
economy at BB- . The Regional competitiveness of Nigeria with selected
countries using the real GDP growth rate, Consumer Prises and Current Account
Balances are indicated in Fig 4.5.1 and Fig. 4.5.2.
36
36View entire presentation