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News
Nigeria's National Bureau of Statistics announced on April 6, 2013 the country's annual gross domestic product (GDP) exceeded $ 500 billion, overtaking slow growth in recent years, suffering and economic impact of the strike in South Africa, becoming the largest economy in Africa, the world's 26 largest economies.
Nigeria's National Bureau of Statistics long Jemmi April 6 that according to re-estimate the country's GDP for 2013, the new figure is almost double the previous figure of 42.3 trillion naira, reached 80.22 trillion naira, about combined $ 509.9 billion, an increase of 7.41% relative to the previous year. The size of the country's debt to GDP ratio of about 11%, compared with 19% the previous year have dropped significantly.
It is reported that the general state of statistical methods are adjusted every few years GDP to better reflect the country' s production.However,Nigeria since 1990 has not adjusted for this,nor will the emerging mobile phone, e-commerce, the film industry, "les dock" and other statistics into account, leading to significantly lower the previous figure.
As Africa's largest oil exporter, Nigeria's economy is heavily dependent on oil exports, 80% of government revenue comes from oil. Although GDP surpassed $ 353 billion in South Africa, but the Nigerian population over 170 million, 3.5 times in South Africa, Nigeria's per capita income of less than $ 3,000 compared to $ 7,336 in South Africa there is a large gap. Currently, South Africa is represented as a member of the G20, is one of the BRIC countries.
So Nigeria is a good market for us to exploit it !