Welcome to Nigeria
Nigeria is Africa’s most populous country and arguably the most culturally diverse society in the world, with approximately 250 ethnic groups among its 140 million people. The country is essentially a mono-sector economy that is highly dependent on oil. The oil and gas sector accounts for over 90% of the country’s foreign exchange earnings. The country’s GDP for 2007 was $294.8 billion (estimated), with the following sector contributions: agriculture 17.6%, industry 53.1%, services 29.3%. The decline in Nigeria’s agricultural and non-oil industrial capacity has continued to exacerbate its dependence on imports. The country's major import partners at the end of 2007 were China 10.7%, US 8.4%, Netherlands 6.2%, UK 5.8%, France 5.6%, Brazil 5.1%, Germany 4.5%. The United States accounts for at least 80% of the imports in the oil and gas sector.
