Stats Nigeria

8/6/2019 Stats Nigeria

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2005-09 201

Nigeria Nigeria

Political environment

1. Risk of armed conflict 2 3.2 3

2. Risk of social unrest 1 2.8 1

3. Constitutional mechanisms for the orderly transfer of power 2 2.2 2

4. Government and opposition 3 3.2 3

5. Threat of politically motivated violence 3 2.6 2

6. International disputes or tensions 3 2.6 3

7. Government policy towards business 2 3.1 3

8. Effectiveness of political system in policy formulation and execution 2 2.7 2

9. Quality of the bureaucracy 1 2.2 1

10. Transparency and fairness of legal system 1 1.8 1

11. Efficiency of legal system 2 2.5 2

12. Corruption 1 2.4 1

13. Impact of crime 2 3.3 2

Macroeconomic environment

1. Inflation* 3 3.8 4

2. Budget balance as % of GDP* 5 4.0 4

3. Government debt as % of GDP* 5 4.2 5

4. Exchange-rate volatility* 4 4.6 4

5. Current-account balance as % of GDP* 5 4.2 5

6. Quality of policymaking 2 2.9 3

7. Institutional underpinnings 3 3.0 3

8. Asset prices 3 3.2 3

Market opportunities

1. GDP, US$ bn at PPP* 3 2.6 4

2. GDP per head, US$ at PPP* 1 2.8 1

3. Real GDP growth* 4 4.2 4

4. Share of world merchandise trade* 2 2.1 2

5. Average annual rate of growth of exports* 3 2.5 3

6. Average annual rate of growth of imports* 5 3.6 5

7. The natural resource endowment* 5 3.9 5

8. Profitability* 5 4.4 4

9. Regional integration 2 2.8 2

10. Proximity to markets 2 2.4 2

Policy towards private enterprise and competition

1. Degree to which private property rights are protected 2 3.0 3

2. Government regulation on setting up new private businesses 2 2.8 2

3. Freedom of existing businesses to compete 1 2.5 2

4. Promotion of competition 1 2.2 2

5. Protection of intellectual property 2 2.4 1

6. Price controls 2 2.9 27. Distortions arising from lobbying by special interest groups 2 2.4 2

8. Distortions arising from state ownership/control 2 2.4 2

Regionalaveragea


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9. Minority shareholders 2 2.7 2

Policy towards foreign investment

1. Government policy towards foreign capital 3 3.0 3

2. Openness of national culture to foreign influences 3 3.2 3

3. Risk of expropriation of foreign assets 3 3.5 2

4. Availability of investment protection schemes 2 3.1 2

5. Government favouritism 3 2.9 3

Foreign trade and exchange controls

1. Capital-account liberalisation 3 3.2 3

2. Tariff and non-tariff protection** 2 2.9 2

3. Ease of trading 2 2.9 2

4. Openness of trade* 2 3.4 3

5. Restrictions on the current account 2 3.5 3

Taxes

1. The corporate tax burden** 3 3.3 3

2. The top marginal personal income tax* 4 3.8 4

3. Value-added tax* 4 4.1 4

4. Employers' social security contributions 4 3.7 4

5. Degree to which fiscal regime encourages new investment 2 2.5 2

6. Consistency and fairness of the tax system 2 2.5 2

7. Tax complexity 2 3.2 2

Financing

1. Openness of banking sector 3 2.9 2

2. Stockmarket capitalisation 2 3.2 2

3. Distortions in financial markets** 3 3.2 3

4. Quality of the financial regulatory system 2 2.4 2

5. Access of foreigners to local capital market 3 2.6 3

6. Access to medium-term finance for investment 3 2.8 3

The labour market

1. Labour costs adjusted for productivity* 4 3.8 4

2. Availability of skilled labour* 1 2.3 1

3. Quality of workforce 2 2.5 2

4. Quality of local managers 2 2.6 2

5. Language skills 3 3.0 4

6. Health of the workforce* 1 2.9 1

7. Level of technical skills 2 2.9 2

8. Cost of living* 1 3.1 2

9. Incidence of strikes** 3 3.5 3

10. Restrictiveness of labour laws 3 2.9 3

11. Extent of wage regulation 4 2.8 4

12. Hiring of foreign nationals 3 2.8 3

Infrastructure

1. Telephone density* 2 2.7 2

2. Reliability of telecoms network** 0 3.0 2

3. Telecoms costs* 1 3.0 2

4. Mobiles* 2 3.2 3


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5. Stock of personal computers* 2 3.0 3

6. Internet use* 2 2.8 3

7. Broadband penetration* 1 2.7 1

8. R&D expenditure as % of GDP* 1 2.2 1

9. Research infrastructure 2 2.4 2

10. The infrastructure for retail and wholesale distribution** 1 2.5 1

11. Extent and quality of the road network** 2 2.8 2

12. Extent and quality of the rail network** 1 2.1 1

13. Quality of ports infrastructure 1 3.2 2

14. Quality of air transport 2 3.3 2

15. Production of electricity per head* 1 3.0 1

16. Rents of office space* 4 2.9 4

Note. A single asterisk (*) denotes scores based on quantitative indicators. Indicators with a double asterisk (**) are padata. All other indicators are qualitative in nature.

a Out of 17 countries: Algeria, Bahrain, Egypt, Iran, Israel, Jordan, Kuwait, Libya, Morocco, Qatar, Saudi Arabia, Tunisia,Kenya, Nigeria and South Africa.


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-14

3.5

2.7

2.4

3.3

2.9

2.8

3.2

2.6

2.2

2.1

2.4

2.5

3.4

4.1

3.9

4.4

4.6

4.4

2.9

2.9

2.8

2.8

2.9

3.9

2.1

2.8

3.4

3.9

3.8

2.9

2.2

3.3

2.9

2.7

2.5

2.4

3.02.4

2.5

Regionalaveragea


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2.9

3.4

3.4

3.4

3.1

2.8

3.3

3.3

3.1

3.4

3.9

3.9

4.0

4.1

3.8

2.8

2.6

3.4

3.1

3.1

3.2

2.9

2.7

2.4

3.9

2.6

2.8

2.8

3.2

3.1

3.1

2.8

3.5

2.9

3.0

2.9

3.1

3.4

3.4

4.1


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3.3

3.5

3.5

2.5

2.4

2.9

3.0

2.2

3.5

3.5

3.2

2.9

rtly based on

UAE, Angola,


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Gross domestic product per head

(US$; market exchange rates)

Qatar 50,475.5

UAE 41,429.0

Kuwait 37,116.4

Israel 26,280.2

Bahrain 19,159.0

Saudi Arabia 16,262.0

Libya 8,400.9

South Africa 5,751.1

Iran 4,837.9

Algeria 4,591.9

Angola 4,507.5

Tunisia 3,667.3

Jordan 3,302.6

Morocco 2,894.8

Egypt 2,275.1

Nigeria 1,058.0

Kenya 800.4

Qatar

UAE

Kuwait

Israel

Bahrain

Saudi Arabia

Libya

South Africa

Iran

Algeria

Angola

Tunisia

Jordan

Morocco

Egypt

Nigeria

Kenya

0 10,000 20,000 30,000 40,0


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0 50,000 60,000


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Gross domestic product

(US$ bn; market exchange rates)

Saudi Arabia 415.4

Iran 358.9

South Africa 282.1

UAE 225.1

Israel 195.4

Egypt 189.0

Algeria 162.1

Nigeria 157.9

Kuwait 129.0

Morocco 92.6

Angola 83.4

Qatar 82.4

Libya 53.9

Tunisia 37.7

Kenya 31.9

Bahrain 21.6

Jordan 20.7

Saudi Arabia

Iran

South Africa

UAE

Israel

Egypt

Algeria

Nigeria

Kuwait

Morocco

Angola

Qatar

Libya

Tunisia

Kenya

Bahrain

Jordan

0 50 100 150 200 250 30


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0 350 400 450


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Nominal GDP

(US$ at PPP; index, Nigeria=100)

2010 2030

Angola 36 76

Kenya 18 31Nigeria 100 100

South Africa 145 158

Kuwait 41 69

2010

0

50

100

150

200

3618

10


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2030

76

31

100

145158

41

69

Angola

Kenya

NigeriaSouth Africa

Kuwait


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GDP per head

(at PPP; index, US=100)

2010 2030

Angola 15 26

Kenya 3 5Nigeria 5 5

South Africa 22 34

Kuwait 87 115

20100

20

40

60

80

100

120

153 5

22


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2030

26

5 5

34

87

115

Angola

Kenya

Nigeria

South Africa

Kuwait


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Real GDP growth

(% annual change)

2008 2009 2010 2011 2012 2013 2014

Angola 5.3 5.3 5.6 6.0 6.6 7.1 7.7

Kenya 1,358.7 1,385.3 1,427.1 1,501.0 1,586.4 1,667.8 1,748.4

Nigeria 672.2 708.3 752.2 795.8 847.0 901.6 962.3

South Africa 1,814.5 1,781.9 1,832.7 1,900.4 1,972.0 2,050.0 2,125.9

Kuwait 20.4 20.0 20.7 21.9 23.0 24.2 25.3

2009-10 2011-20 2021-30

Angola 3.3 8.2 7.1

Kenya 2.5 5.8 6.8

Nigeria 5.8 4.0 3.1

South Africa 0.5 3.4 4.6

Kuwait 0.9 6.6 5.9

2009-10 2011-200.0

1.0

2.03.0

4.0

5.0

6.0

7.0

8.0

9.0 5.8

4.0

Angola

Kenya

Nigeria

South Africa

Kuwait


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2015 2016 2017 2018 2019 2020 2021 2022 2023

8.3 9.0 9.8 10.6 11.5 12.5 13.5 14.5 15.6

1,841.6 1,947.4 2,065.8 2,197.0 2,340.9 2,497.7 2,667.4 2,850.3 3,046.5

1,008.9 1,042.9 1,067.2 1,084.6 1,097.9 1,109.6 1,122.1 1,137.3 1,157.3

2,196.3 2,266.2 2,333.2 2,400.8 2,472.0 2,549.5 2,635.7 2,732.7 2,842.0

26.5 28.3 30.5 33.2 36.1 39.2 42.5 45.8 49.1

2021-30

3.1


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2024 2025 2026 2027 2028 2029 2030

16.7 17.9 19.1 20.4 21.8 23.2 24.7

3,256.6 3,481.1 3,720.5 3,975.2 4,245.9 4,533.4 4,838.7

1,183.4 1,216.8 1,258.4 1,308.6 1,367.3 1,434.1 1,507.8

2,964.8 3,102.1 3,254.1 3,421.2 3,602.8 3,798.4 4,006.8

52.4 55.6 58.7 61.6 64.4 67.1 69.8


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GDP per head

(US$ at PPP)

2010 2011 2012 2013 2014

Angola 7,001 7,402 7,774 8,454 9,040

Kenya 1,621 1,681 1,760 1,843 1,931

Nigeria 2,394 2,515 2,671 2,852 3,067

South Africa 10,726 11,278 11,951 12,750 13,611

Kuwait 41,707 42,603 43,505 44,250 45,018

1 2 3 40

10,000

20,000

30,000

40,000

50,000

2,394 2,515 2,671 2,8

Angola

Kenya

Nigeria

South Africa

Kuwait


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5

2 3,067


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Annual inflows of foreign direct investment

(US$ m)

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Annual inflows of FDI 4,983 8,824 6,032 3,636 3,000 5,000 5,500 8,000 7,500 7,250

% of gross fixed investment 26.3 35.7 20.4 6.5 6.1 9.7 11.4 15.2 13.3 11.4

2005 2006 2007 2008 2009 2010 2011 2012

0

1,000

2,0003,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

4,983

8,824

6,032

3,6363,000

5,0005,500

8,000

Annual inflows of FDI

% of gross fixed investment


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2013 2014

0

10

20

30

40

50

7,500 7,250


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Inward foreign direct investment stock per head

(US$)

2010 Angola Kenya

Angola 3,485.1 2010 3,485 60

Kenya 59.7

Nigeria 385.5

South Africa 2,712.4

Kuwait 362.9

0 500 1,000 1,500 2,000

60

385

363

2010


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Nigeria South Africa Kuwait

385 2,712 363

2,500 3,000 3,500 4,000

3,485

2,712


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Inward foreign direct investment stock

(% of GDP)

2010 Angola Kenya

Angola 69.6 2010 69.6 7.1

Kenya 7.1Nigeria 33.2

South Africa 47.9

Kuwait 0.9

0 10 20 30 40

7.1

33.2

47.9

0.9

2010


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Nigeria South Africa Kuwait

33.2 47.9 0.9

50 60 70 80

69.6


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External sector

(US$ bn)

2009 2010 2011 2012 2013

Current-account balance 11.6 20.0 14.0 18.2 18.1

Current-account balance (% of GDP) 7.4 11.3 8.0 9.1 8.6Goods: exports fob 48.0 61.2 61.0 74.1 81.3

Goods: imports fob -31.7 -35.6 -40.4 -46.4 -51.8

Trade balance 16.4 25.5 20.7 27.6 29.5

Services balance -9.0 -11.2 -11.9 -14.3 -16.4

Income balance -10.3 -10.7 -10.8 -13.6 -14.4

Current transfers balance 14.5 16.3 16.0 18.4 19.5

2009 2010 2011 2012 2013 20140.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0Current-account balance

Trade balance

Current transfers balanceCurrent-account balance (%of GDP)


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2014

25.6

11.093.5

-55.7

37.7

-18.3

-15.2

21.3

5

6

7

8

9

10

11

12

13


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2014

150.0

147.5

176.5217.5

195.0

69.13

4140

150

160

170

180

190

200


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Consumer price inflation

(annual average; %)

2005 2006 2007 2008 2009 2010 2011 2012

Consumer 17.9 8.2 5.4 11.6 12.5 10.5 9.1 8.3

1 2 3 4 5 6 7 8 9 10

4.0

6.0

8.0

10.0

12.0

14.0

16.0

18.0

20.0


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2013 2014

8.5 8.9

2005 17.9

2006 8.2

2007 5.4

2008 11.6

2009 12.5

2010 10.5

2011 9.1

2012 8.32013 8.5

2014 8.9


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Economic outlook

(% real change)

2010 2011 2012 2013 2014

Real GDP growth 6.2 5.8 6.4 6.4 6.7

Private consumption 6.3 7.4 9.3 9.8 10.3

Government consumption 7.5 8.5 7.0 8.0 10.0

Gross fixed investment 8.0 6.5 9.0 11.0 12.0

Exports of goods & services 10.5 8.3 9.4 8.7 9.1

Imports of goods & services 11.1 11.6 13.8 15.4 16.9

1 2 3 40.0

2.0

4.0

6.0

8.0

10.0

12.0

Real GDP growth

Private consumption

Gross fixed investment


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5


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2014

2.3

3.1

5.9

2.8

89.5

4.0

4.9

5.4

2.0

2013 2014


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Lending interest rate

(%)

2010 2011 2012 2013 2014

Angola 15.8 13.5 13.7 13.4 13.8

Kenya 13.5 13.0 12.5 12.0 11.0

Nigeria 15.0 13.7 12.0 13.0 13.0

South Africa 10.5 11.0 11.5 12.0 12.0

Kuwait 5.1 5.4 6.7 8.3 8.5

1 2 3 40.0

2.0

4.0

6.0

8.0

10.0

12.014.0

16.0

18.015.0

13.712.0

13

Angola

Kenya

Nigeria

South Africa

Kuwait


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5

.0 13.0


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Central government budget balance

(% of GDP)

2005 2006 2007 2008 2009 2010 2011 2012

Central go -1.10 4.04 -0.23 1.64 -5.15 -3.59 -3.95 -2.21

1 2 3 4 5 6 7 8 9 10

-6.0

-5.0

-4.0

-3.0

-2.0

-1.0

0.0

1.0

2.0

3.0

4.0

5.0


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2013 2014

-1.53 0.14

2005 -1.1

2006 4.0

2007 -0.2

2008 1.6

2009 -5.2

2010 -3.6

2011 -4.0

2012 -2.2

2013 -1.5

2014 0.1


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Demographic outlook

Population (m) 2005 2009 2014

Total 137.5 149.3 163.8

Period averages (%) 2005-09 2010-14

Population growth 2.1 1.9

Labour force growth 2.5 2.0


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Business environment rankings

2005-09 2010-14 2005-09 2010-14 2005-09 2010-14

Overall position 4.45 4.68 77 75 14 13

Political environment 3.1 3.3 79 77 15 14

Political stability 4.0 4.0 76 78 14 15

Political effectiveness 2.3 2.6 80 79 15 15

Macroeconomic environment 7.2 7.5 37 28 8 7

Market opportunities 6.2 6.4 28 26 8 6

Policy towards private enterprise & competition 2.8 3.3 78 74 14 14

Policy towards foreign investment 5.1 4.6 67 71 12 13

Foreign trade & exchange controls 3.7 4.6 78 77 14 14

Taxes 5.0 5.0 70 69 12 13

Financing 4.8 4.4 61 70 10 13

The labour market 4.4 4.7 81 79 16 16

Infrastructure 2.4 3.3 80 79 16 15

Overall position

Value of indexa Global rankb Regional rankc

a Out of 10. b Out of 82 countries. c Out of 17 countries: Algeria, Bahrain, Egypt, Iran, Israel, Jordan, Kuwait, Libya,Morocco, Qatar, Saudi Arabia, Tunisia, UAE, Angola, Kenya, Nigeria and South Africa.

4.4

4.7


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Macroeconomic environment

Policy towards private enterprise & competition

Policy towards foreign investment

0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0

0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0

7.2

7.5

0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0

2.8

3.3


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Foreign trade & exchange controls

Taxes

0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10

5.1

4.6

0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10

3.7

4.6

5.0

5.0


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Financing

The labour market

Infrastructure

0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10

0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10

4.8

4.4

0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10

4.4

4.7


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0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0

2.4

3.3


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Household consumption per head

(US$)

2010 2014

Angola 1,014 2,076

Kenya 662 809Nigeria 778 1,169

South Africa 3,486 4,891

Kuwait 12,629 15,508

20100

5,000

10,000

15,000

20,000

1,0142,076

662 778

3,486

12,629

Angola

Kenya

Nigeria

South Africa

Kuwait


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2014

809 1,169

4,891

15,508


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Real GDP growth

(%)

2010 2011 2012 2013 2014

Nigeria 6.2 5.8 6.4 6.4 6.7

Sub-Saharan Africa 4.2 4.5 5.0 4.9 4.9World 2.6 2.4 2.8 3.0 3.1

1 2 3 40.0

1.0

2.0

3.04.0

5.0

6.0

7.0

8.0 6.2 5.86.4 6.4 6.7

Nigeria

Sub-Saharan Africa

World


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5

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