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Macroeconomic indicators are pointers to the general workings of any economy. This section of our website will give a detailed breakdown of
the most relevant macro-economic indicators of Nigeria. It will engulf details such as population and age structure, national gross development
product (GDP), composition of the GDP per most active sectors, prime lending rates spanning three months, exchange rates of the most
prominent foreign currencies, labour force composition, and current unemployment rates. All these data have been carefully sourced and
fine-tuned to project the current status of the Nigerian economy.
POPULATION
| COUNTRY |
YEARS |
VARIANT |
VALUE |
| NIGERIA |
2011 |
Estimate variant |
152,217,341.00 |
|
2005 |
Estimate variant |
140,878.58 |
|
2000 |
Estimate variant |
124,842.37 |
|
1995 |
Estimate variant |
110,449.33 |
|
1990 |
Estimate variant |
97,338.28 |
|
1985 |
Estimate variant |
85,150.64 |
|
1980 |
Estimate variant |
74,522.93 |
|
1975 |
Estimate variant |
63,948.37 |
|
1970 |
Estimate variant |
56,467.48 |
|
1965 |
Estimate variant |
50,414.00 |
|
1960 |
Estimate variant |
45,148.01 |
|
1955 |
Estimate variant |
40,610.21 |
|
1950 |
Estimate variant |
36,680.00 |
Age structure
0-14 years: 41.5% (male 31,624,050/female 30,242,637)
15-64 years: 55.5% (male 42,240,641/female 40,566,672)
65 years and over: 3.1% (male 2,211,840/female 2,343,250) (2009 est.)
Population growth rate
1.996% (2011 est.)
Median age
Total Population 19.1
Male 19
Female 19.2
Birth rate
36.07 births/1,000 population (2011 est.)
Death rate
16.31 deaths/1,000 population (2011 est.)
Infant Mortality Rate
92.99/1,000 population (2011 est.)
Life Expectancy At Birth
47.24 years
Total Fertility Rate
4.82 per woman
Urbanization
Urban population: 50% of total population (2010)
Rate of urbanization: 3.5% annual rate of change (2010-15 est.)
Net Migration: 0.1 migrants/1,000 (2010)
Normal 0 false false false EN-US X-NONE X-NONE
LENDING RATES (IN PERCENTAGE)
|
Month
|
May 2010
|
June 2010
|
July 2010
|
|
Inter-Bank Call Rate
|
4.94
|
2.73
|
3.59
|
|
Minimum Rediscount Rate (MRR)
|
|
Monetary Policy Rate (MPR)
|
6.00
|
6.00
|
6.00
|
|
Treasury Bill Rate
|
1.63
|
2.29
|
2.94
|
|
Savings Deposit Rate
|
2.92
|
1.95
|
1.62
|
|
1 Month Deposit Rate
|
5.86
|
4.51
|
3.68
|
|
3 Months Deposit Rate
|
6.22
|
4.98
|
4.50
|
|
6 Months Deposit Rate
|
5.31
|
4.85
|
5.74
|
|
12 Months Deposit Rate
|
6.31
|
4.90
|
4.93
|
|
Prime Lending rate
|
18.77
|
17.65
|
17.40
|
|
Maximum Lending Rate
|
22.56
|
22.03
|
22.27
|
Source: Central bank of Nigeria
|
EXCHANGE RATES AS AT JULY 2010
|
|
$USD (US Dollar)
|
148.67
|
|
CHF (Swiss Franc)
|
140.6395
|
|
SAR (Saudi Riyal)
|
39.6453
|
|
£GBP (Great Britain Pound)
|
231.167
|
|
€EUR (Euro)
|
193.9549
|
Note: The figures displayed here are buying rates.
DEPOSIT AND LENDING RATES
| Month |
Jan -12 |
Feb-12 |
March- 12
|
| Inter-Bank Call Rate |
14.19 |
14.52 |
----- |
| Minimum Rediscount Rate (MRR) |
|
|
|
| Monetary Policy Rate (MPR) |
12.00
|
12.00
|
-----
|
| Treasury Bill Rate |
14.85
|
14.76
|
-----
|
| Savings Deposit Rate |
1.39
|
1.43
|
-----
|
| 1 Month Deposit Rate |
6.46
|
6.98
|
-----
|
| 3 Months Deposit Rate |
7.62
|
7.96
|
-----
|
| 6 Months Deposit Rate |
6.62 |
6.83
|
----
|
| Prime Lending rate |
16.92 |
17.11
|
----- |
| Maximum Lending Rate |
23.08 |
23.13
|
----- |
EXCHANGE RATES
| EXCHANGE RATES AS AT APRIL 2012 |
Naira value |
| $USD (US Dollar) |
155.75 |
| CHF (Swiss Franc) |
170.20 |
| SAR (Saudi Riyal) |
41.5289 |
| £GBP (Great Britain Pound) |
251.5207
|
|
|
| €EUR (Euro) |
205.076
|
|
|
GROSS DEVELOPMENT PRODUCT (G.D.P) FACTS
| GDP (purchasing power parity): |
GDP - per capita (PPP): |
| $377.9 billion (2010 est.) |
$2,500 (2010 est.) |
| country comparison to the world: 32 |
country comparison to the world: 175 |
| $348.7 billion (2009 est.) |
$2,300 (2009 est.) |
| $326 billion (2008 est.) |
$2,200 (2008 est.) |
| note: data are in 2009 US dollars |
|
|
|
| GDP (official exchange rate): |
GDP - real growth rate: |
| $216.8 billion (2010 est.) |
8.4% (2010 est) |
|
5% (2009 est.) |
| GDP - composition by sector: |
country comparison to the world: 15
|
| agriculture: 30% |
7% (2009 est.) |
| industry: 32% |
6% (2008 est.) |
| services: 38% (2010 est.) |
|
INFLATION RATES (PER CENT)
Inflation Rates
|
Jan 2012 |
Feb- 2012 |
Mar- 2012 |
All Items (Year on Change)
|
12.60 |
11.90 |
12.10 |
All Items (12 Month avg. change)
|
11.81 |
11.00 |
10.90 |
LABOUR FORCE
| Labor force: |
Labor force - by occupation: |
| 50.48million (2010 est.) |
agriculture: 70% |
country comparison to the world: 11
|
industry: 10% |
|
services: 20% (1999 est.) |
Unemployment Rate trend
| Year |
Unemployment rate |
Rank |
Percent Change |
Date of Information |
| 2003 |
28.00% |
30 |
|
1992 est. |
| 2006 |
2.90% |
27 |
-89.64% |
2005 est. |
| 2007 |
5.80% |
65 |
100.00% |
2006 est. |
| 2008 |
4.90% |
65 |
-15.52% |
2007 est. |
| 2009 |
4.90% |
60 |
0.00% |
2007 est. |
| 2010 |
4.90% |
46 |
0.00% |
2007 est. |
Sources: Central Bank of Nigeria, National Bureau of Statistics, CIA World factbook, UN data, World Bank, Index Mundi |
