Nigeria, an African country on the Gulf of Guinea, has many natural landmarks and wildlife reserves. Protected areas such as Cross River National Park and Yankari National Park have waterfalls, dense rainforest, savanna and rare primate habitats. One of the most recognizable sites is Zuma Rock, a 725m-tall monolith outside the capital of Abuja that’s pictured on the national currency.
The country is Africa’s largest crude oil exporter, recording production about 1,6 million barrels a day in December of 2019. Petroleum exports account for 10% of GDP and exceed 80% of export revenue. Apart from petroleum, Nigeria’s other natural resources include natural gas, tin, iron ore, coal, limestone, niobium, lead, zinc and arable land.
Between 2000 and 2014, Nigeria grew its GDP year on year by 7%, one of the fastest rates in Africa. However, growth has since slowed to around 2% due to oil and production shocks and with political instability in the region and a growing young and unemployed population, Nigeria is expected to grow slowly and living conditions to worsen.
However, with the 2020 crude oil price war between Saudi Arabia, Russia and the US, and the impacts of Covid-19, it’s possible Nigeria won’t hit its growth target of
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