Nigeria is a former colony of the UK that can be found in West Africa. It is growing rapidly as a country both economically and in terms of population. Many people around the globe think that Nigeria could be Africa’s global superpower if it can overcome the many problems that limit its development.
It already has the continent’s biggest economy, a huge military budget and is active in the West African and African continent.
By 2040 predictions are that;
• Nigeria will be the fourth most populous country in the world after India, China and the United States with population projected to grow from 170 million to 320 million by 2040.
• Gross domestic product (GDP) is projected to grow from $525-billion in 2014 to $4.2-trillion by 2040.
Nigeria is rich in oil, and this makes 75 per cent of government money, but the rapid economic growth (over 7 per cent per year since 2009) is found mostly in the non-oil sector (according to the IMF). Nigeria is making increasing amounts of money from manufacturing (making things) and services.
However, despite this wealth Nigeria has a quarter of Africa’s extreme poor people. In addition, more than 100 women die every day from complications during pregnancy and childbirth. Over 2,000 children under 5 die every day from preventable diseases and 8.5 million children do not go to school (the most of any country in the world).
Nigeria has many political and economic links around the world and has moved on from its days as a Commonwealth country occupied by the UK (it gained independence in 1960). Its main trading partners include the European Union (EU), the United States, India, Brazil, and China. Nigeria is also an active member of the Economic Community of West African States (ECOWAS) and is also part of the African Union. Nigeria has also stepped up its involvement in international affairs, the country ranks as the fifth largest contributor to UN peacekeeping missions (United Nations 2014) and has a non-permanent seat on the UN Security Council for 2014-15.