Gross National Product (GNP): US$30.0 billion,
US$230 per capita, 1990.
Agriculture, Forestry, and Fishing: Agriculture
represented 39.1 percent of gross domestic product (GDP)
In 1990, 34 million hectares, or 42 percent of arable land
cultivation; 18 million hectares of pastureland; 20
hectares of forests. 1991 drought forced substantial
food imports. Cash crops: cocoa, palm oil, rubber,
peanuts. Major food crops: cassava, yams, taro, sweet
sorghum, millet, corn, rice. Livestock: cattle, goats,
horses, camels, pigs, poultry, representing 2.0 percent of
Forests used extensively, and government engaged in
projects. Fisheries catch did not meet domestic needs;
modernization projects underway.
Industry: Constituted 10.0 percent of GDP in
Primary processing industries: palm oil, peanuts, rubber,
petroleum, wood, hides and skins. Manufacturing
products, textiles, cement, building materials, footwear,
chemical products, ceramics, small appliances.
Mining, Petroleum, and Energy: Main items mined:
tin, columbite for domestic use. Nigeria world's sixth
oil exporter; domestic consumption 250,000 barrels per
percent of extracted oil refined domestically. Natural gas
constituted more than 20 percent of commercial energy
1990. Emphasis on expanding hydroelectric power (14
energy consumed in 1980s) and oil- and gas-generated
Exports: Petroleum, cocoa.
Imports: Machinery, transportation equipment,
chemicals, manufactured goods, food, live animals.
Major Trading Partners: United States, Britain,
European Economic Community countries, Japan, Canada.
negative trade balance.
Currency: Naira (N); 1 naira = 100 kobo; average
exchange rate in 1990: N8.04 per US$1.00.
Data as of June 1991