Nigeria profile

Demography and Health

Nigeria is one of the most populous countries in the world, with a total population of about 232.7 million in 2024, ranking sixth globally and by far the largest in Africa. The country’s demographic profile is characterized by a very young population and high fertility, as reflected in a crude birth rate of 33.0 per 1,000 people in 2023. Such a high birth rate, combined with relatively high mortality rates in certain age groups, contributes to rapid population growth and significant demand for services across health, education, and employment. Life expectancy at birth stands at 54.5 years (2023), underscoring substantial health challenges and the burden of communicable and non-communicable diseases. The under-5 mortality rate is alarmingly high at 105 per 1,000 live births (2023), indicating persistent gaps in child health, nutrition, sanitation, and access to quality healthcare—critical drivers of human development. The death rate of 11.7 per 1,000 people complements this picture of a health system under stress. Availability of health resources is constrained: current health expenditure is 4.27% of GDP (2022), and domestic general government health expenditure per capita, purchasing power parity-adjusted, is about 35.6 international US dollars (2022). The physician density is 0.394 per 1,000 people (2022), highlighting challenges in primary care access and specialist services. Malnutrition remains a concern, with 18.0% of the population undernourished in 2022. Against this backdrop, broader digital access is still uneven, as individuals using the Internet account for 39.2% of the population in 2023, underscoring a digital divide that can affect health information, education, and service delivery. Net migration is negative, with about 35,202 people leaving in 2024, signaling pressures related to opportunity, stability, and quality of life that intersect with health and social policy. Taken together, these indicators describe a country with a large, youthful population and substantial health and nutrition gaps that place a high premium on investments in primary care, maternal and child health, nutrition, and health financing to improve outcomes and resilience.

Economy

Nigeria’s economy presents a complex mix of potential and constraints. The country records a GDP per capita of 807 current US dollars in 2024, indicating a low income level per person despite a large aggregate economy, and a GDP per capita at purchasing power parity of 6,440 international US dollars in 2024, which better reflects the relative cost of living and standards of living. Inflation shoots up at 33.2% in 2024, signaling extreme macroeconomic volatility that erodes household purchasing power, raises the cost of capital, and complicates business planning and wage dynamics. The unemployment rate, at 3.07% of the labor force in 2023, appears low relative to many peer economies, but this figure can understate joblessness in a large, young population with widespread informal employment and underemployment; it likely masks significant underutilization of labor resources and regional disparities. Nigeria’s economy shows a notable reliance on external finance and trade, with net foreign direct investment inflows equal to 0.575% of GDP in 2024, indicating modest foreign capital participation and room for improvement in the investment climate. The current account balance stands at 9.17% of GDP in 2024, suggesting a degree of external sector strength, potentially supported by commodity exports such as oil. The country’s high-technology exports are relatively small (about 65.16 million current US$ in 2023), reflecting a limited high-tech manufacturing footprint and room to diversify beyond extractive sectors. Despite a youthful population and sizable domestic market, macroeconomic volatility, governance challenges, and infrastructure gaps constrain sustained, inclusive growth.

Trade and Investment

Nigeria’s trade and investment environment is shaped by a mix of opportunities and bottlenecks. The country exhibits a logistics regime that, on the logistics performance index, scores 2.4 on a scale of 1 to 5 for quality of trade and transport-related infrastructure (2022), indicating mid-range efficiency with notable room to improve customs, border procedures, and transport connectivity. Foreign direct investment, measured as a share of GDP, is 0.575% in 2024, signaling that investment inflows to Nigeria are modest relative to its size and growth ambitions, and suggesting sensitivity to policy, governance, and infrastructure constraints. The current account balance of 9.17% of GDP in 2024 points to a competitive external position, likely supported by export receipts from natural resources, though this balance could be volatile with oil price shifts. The country also exhibits a substantial domestic market with a large population, which provides a strong demand base for goods and services. However, the relatively small share of high-technology exports (about 65.2 million US$ in 2023) indicates that Nigeria remains heavily reliant on extractive sectors and basic manufacturing for export competitiveness, underscoring a strategic priority to foster value-added production, digital services, and logistics-enabled trade. Overall, Nigeria presents a promising but challenging environment for trade facilitation and investment diversification, where reforms in governance, infrastructure, and the business climate could unlock higher capital flows and productivity gains.

Governance and Institutions

Nigeria faces notable governance and institutional challenges as reflected in several World Bank governance indicators. Political stability and absence of violence/terrorism register a score of -1.77 in 2023 (rank 183), signaling persistent political risk and security concerns that can disrupt development planning, investment, and social cohesion. Regulatory quality is -0.937 (2023, rank 165), indicating that regulatory frameworks may be inconsistent or poorly enforced, complicating business operations and long-term planning. The rule of law stands at -0.888 (2023, rank 159), highlighting deficits in contract enforcement, property rights, and judicial independence that hinder investor confidence and efficient markets. Control of corruption is -1.04 (2023, rank 162), suggesting significant corruption pressures that can undermine public trust and sector performance. Government effectiveness is -0.848 (2023, rank 157), pointing to inefficiencies in public service delivery and policy implementation. Collectively, these indicators portray a governance environment that constrains reform, inflows of capital, and the efficient delivery of public goods, even as other indicators show some resilience in the economy. Addressing governance gaps—through transparent institutions, rule of law, anti-corruption measures, and stronger public administration—could substantially improve investment conditions and development outcomes.

Infrastructure and Technology

Nigeria’s infrastructure and technology landscape shows a mix of limited connectivity and notable development potential. Internet penetration stands at 39.2% of the population in 2023, indicating a sizable digital divide and opportunities for expanding digital inclusion, e-government, and online services. The country’s high-technology exports are relatively modest, at 65.16 million US$ in 2023, reflecting a still-emerging export base with limited high-tech manufacturing. The share of physicians is 0.394 per 1,000 people (2022), underscoring ongoing gaps in health staffing that can affect service delivery and resilience in public health. On the energy front, renewable energy consumption is reported at 80.3% of total final energy consumption in 2021, a figure that invites scrutiny given Nigeria’s prominent fossil fuel and hydro resources; if accurate, it suggests a substantial role for renewables, but this may reflect data measurement nuances or sector-specific accounting. The logistics performance index of 2.4/5 (2022) reinforces the need for improved transport networks, border procedures, and port efficiency to lower trade costs and support domestic firms in integrating into regional and global value chains. Overall, infrastructure and technology in Nigeria present strong growth opportunities—especially in expanding internet access, modernizing health and energy systems, and upgrading logistics—if governance reforms and targeted investments are pursued.

Environment and Sustainability

Nigeria faces environmental and sustainability challenges that intersect with its development trajectory. Prevalence of undernourishment is 18.0% of the population in 2022, highlighting ongoing food security concerns for a large and growing population. The level of water stress is 9.67% in 2021, measured as freshwater withdrawal relative to available resources, indicating a moderate but potentially rising pressure on water resources as demand grows and climate variability intensifies. Total greenhouse gas emissions excluding LULUCF per capita are 1.69 t CO2e per person in 2023, a relatively low per-capita footprint given the country’s size but still contributing to global emissions and reflecting energy and industrial transition dynamics. The country’s total energy and climate profile will be shaped by energy policies, fossil fuel dependence, and investments in renewables and efficiency. Taken together, Nigeria’s environmental indicators point to a dual imperative: expanding resilience to climate risks and food security while advancing sustainable energy use and emissions reduction, all within the context of rapid urbanization and population growth. The data signal both vulnerabilities and opportunities for green growth, climate adaptation, and inclusive development that aligns with broader social and economic goals.