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Nigeria: Selected Economic Indicators, 1997 - 2000 (Reviewed, 12th Dec 2001)
 

NIGERIA: SELECTED ECONOMIC INDICATORS

  1997 1998 1999 2000 1/  
Domestic Output and Price
Real GDP (Growth Rate %) 3.20 2.40 2.70 2.80
Oil Sector 8.40 -7.60 -4.20 6.20  
Non Oil Sector 3.10 3.80 2.60 0.10
Oil Production (In Mind) 2.10 2.10 2.01 2.25*  
Manufacturing Capacity Utilisation (%) 33.70 32.40 34.40 34.5*
Inflation rate (%) 8.50 10.00 6.60 4.50  
Money and Credit (Growth Rate %) 2/
Net Domestic Credit -2.80 46.80 55.70 -9.50
Net Credit to Government -53.50 114.90 119.30 -78.90  
Credit to Private Sector 23.90 27.40 27.30 17.50
Narrow Money 18.20 20.50 17.20 51.70  
Broad Money 16.90 23.30 21.20 43.60
External Sector
Current Account Balance (In % of GDP) 1.20 -11.60 0.40 8.50
Overall Balance (In % of GDP) 0.04 -7.80 -3.10 11.20  
External Reserves (US$ million) 7581.20 7100.00 5450.00 9399.90
Average Oil Output Price (US$ / barrel) 19.50 12.90 18.00 27.53  
Average Official Exchange Rate (N/$) 21.90 21.90 N/A N/A
Average AFEM/IFEM Exchange Rate (N/$) 81.70 83.80 92.30 101.65  
Federal Government Finance (In % of GDP)
Overall Fiscal Balance -0.20 -4.80 -8.80 -1.80
Primary Balance 2.10 -2.30 -1.40 0.60  
Net Domestic Bank Borrowing -2.20 3.90 5.30 1.50
Domestic Debt Stock 12.70 14.60 24.50 N/A  
External Debt Stock 21.10 22.90 79.20 N/A
 
Social Indicators
GDP Per capital (N) 1081.50 1051.00 1057.00 1044.60  
Population Growth Rate 2.80 2.80 2.80 2.80
Life Expectancy at Birth (Years) 53.00 53.00 53.00 54.00  
Adult Literacy Rate (%) 57.00 57.00 57.00 57.00
Human Development Index 0.40 0.40 0.40 0.40  
1/ As at September, 2000
2/ as at end October, 2000
* Estimates
Sources: Federal Office of Statistic, Federal Ministry of Finance, and Central Bank of Nigeria

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