Nigeria Tenders

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Capital Abuja
ISO 3166 Code NG
Population 183,523,432
Area, Sq KM 923,768
Currency Naira
Official Language English
GDP, Billion USD 5,21,803
GDP Growth Rate, % 7.0
Inflation, Avg CP, % Chng N/A
Interest Rates, % N/A
Unemployement Rate, % n/a
Exchange Rate, 1 USD Equals 198.95
International dial code 234
Time Zone GMT+01:00
Internet TLD .ng

Nigeria is officially known as the Federal Republic of Nigeria. It is a federal constitutional republic which is situated in West Africa and shares its borders with Benin in the west, Niger in the north, Chad and Cameroon in the east. Nigeria comprises of 36 states and the Federal Capital Territory, where Abuja which is the capital of the country, is located. The territories of the modern day Nigeria has been the site of various tribal states and kingdoms for millennia. Nigeria became a formally independent federation in the year 1960 but got involved into a civil war from 1967–1970. Since then, Nigeria has always alternated between democratically-elected civilian governments and military dictatorships. Due to its large economy and population, Nigeria is often referred to as the Giant of Africa. It is the most populous country in entire Africa with approximately 174 million inhabitants and world’s seventh most populous country. Nigeria also has one of the largest populations of youth in the world. As of 2015, it is known to be the 20th largest economy in the world. Nigeria beat South Africa in order to become largest economy in Africa as of 2014. The World Bank considers Nigeria to be an emerging market and has also been identified as a regional power on the African continent. The country is considered to be a middle power in the world as well. It is a member of the MINT group of countries and is listed among the Next Eleven economies set to become among the biggest in the world.Nigeria is a member of the Commonwealth of Nations, the United Nations, the African Union, OPECamong other international organizations. Nigeria is identified as a mixed economy emerging market and has reached the lower middle income status already as per the World Bank. The abundant supply of natural resources, well-developed communications, financial, legal and transport sectors along with the stock exchangewhich is known to be the second largest in Africa contribute immensely to the nation’s economy. Nigeria was ranked 30th in terms of GDP in the entire world as of 2012. The nation also has 14th largest exporter of goods to US and 50th-largest export market for US goods as The United States happens to be the countrys largest foreign investor. According to the International Monetary Fund, the economic growth of Nigeria was projected at 9% in 2008 and 8.3% in 2009. The IMF, further projects in 2011 an 8% growth in the economy of the country.

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