Country risk report · Africa
Nigeria
Political RiskHigh
Operational RiskHigh
Security RiskHigh
Summary
Nigeria, located in West Africa, is the most populous country on the continent, with a population of over 220 million (2024 estimate). Bordered by Niger to the north, Chad to the northeast, Cameroon to the east, and Benin to the west, Nigeria also has a coastline along the Gulf of Guinea to the south. Abuja is the capital, while Lagos is a major economic hub in Africa. Nigeria’s economy is diverse, with key sectors including oil and gas, agriculture, telecommunications, and services. Oil production is the largest contributor to the country’s GDP, accounting for a substantial part of government revenue and foreign exchange earnings.
While Nigeria has significant economic potential, it also faces numerous challenges, including political instability, corruption, and infrastructure deficits. Nigeria is a member of the Economic Community of West African States (ECOWAS) and the African Union, reflecting its role as a regional power in West Africa.
- Capital
- Abuja
- Population
- 220 million (2024 estimate)
- Official Language
- English
- Currency
- Nigerian Naira (NGN)
- Key Industries
- Oil and gas, agriculture, telecommunications, services, manufacturing
- GDP
- $504 billion (2023 estimate)
- GDP Growth
- 3.2% (2023 estimate)
Table of contents
- Country Overview
- Political Risk Summary
- Political Stability
- Regulatory Risk
- Contract Enforcement
- Integrity and Corruption
- Sovereign Risk
- Operational Risk Summary
- Institutional Risk
- Infrastructure Risk
- Labour Risk
- Security Risk Summary
- Crime Risk
- Terrorism Risk
- War Risk
- Civil Unrest
- Kidnap Risk
Risk levels in the report
From the report’s summary page. The full report explains each level and lists the key concerns behind it.
- Very Low
- Low
- Medium
- High
- Very High
| Category | Risk level |
|---|---|
| Political Risk | High |
| Political Stability | High |
| Regulatory Risk | High |
| Contract Enforcement | High |
| Integrity and Corruption | Very High |
| Sovereign Risk | High |
| Operational Risk | High |
| Institutional Risk | High |
| Infrastructure Risk | High |
| Labour Risk | Medium |
| Security Risk | High |
| Crime | High |
| Terrorism | High |
| War Risk | Low |
| Civil Unrest | High |
| Kidnap Risk | Very High |
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