what is the current state of nigeria economy?
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In 2019, Nigeria recorded a growth of 2.2% (IMF). According to the updated IMF forecasts from 14th April 2020, due to the outbreak of the COVID-19, GDP growth is expected to fall to -3.4% in 2020 and pick up to 2.4% in 2021, subject to the post-pandemic global economic recovery.
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Nigeria is a Federal Republic comprising 36 States and its Federal Capital Territory, Abuja [35][36]. The states are grouped into six geopolitical zones, the North Central (NC), North East (NE), North West (NW), South West (SW), South East (SE) and South (SS).
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Geography. Nigeria is an extremely large country with a land area of about 923,000 km2 and a dense population of some 130 million people. It is bounded to the north by Niger Republic, to the south by the Atlantic Ocean, to the east by Cameroon and by Benin Republic to the west.
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Our research shows that prices of air conditioners in Nigeria ranges from ₦65,000 to ₦2,950,000.
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Guyana's economic freedom score is 56.2, making its economy the 124th freest in the 2020 Index. ... GDP growth, however, has been improving in advance of an oil boom that will come on stream in 2020 and has the potential to transform the country, as a petrostate, into the fastest-growing economy in the region.
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Ghana is not a rich but not a poor country, however it is perhaps among one of the most developed African nations. ... Ghana has a GDP average over 2.000 USD, which is not much, but far better than many of its Sub-Saharan neighbors except Nigeria.
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Imo state Polytechnic trains her students with quality education and skillset towards sustainable national development in Nigeria. Imo State Polytechnic tuition is very affordable to the average nigerian and it is below N100,000.
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The country has been a solid economic performer in recent years, with a GDP growth rate of 2.8 percent in 2017, 3.1 percent in 2018 and 3.6 percent in 2019. ... Extreme poverty (having less than US$1.9 per person per day) affected 8.7 percent of the population in 2014, almost half a million more people than in 2000.
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There are over 525 native languages spoken in Nigeria. The official language of Nigeria is English, the former language of colonial British Nigeria. As reported in 2003, Nigerian English and Nigerian Pidgin were spoken as a second language by 60 million people in Nigeria.
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Nigeria's economic potential is constrained by many structural issues, including inadequate infrastructure, tariff and non-tariff barriers to trade, obstacles to investment, lack of confidence in currency valuation, and limited foreign exchange capacity.
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The total number of local government in Nigeria is 774. Nigeria is a Federal Republic divided into thirty-six states. Each state is in turn divided into Local Government Areas (LGAs).
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Main findings for Doing Business 2020: The economies with the most notable improvement in Doing Business 2020 are Saudi Arabia, Jordan, Togo, Bahrain, Tajikistan, Pakistan, Kuwait, China, India and Nigeria. In 2018/19, these countries implemented one-fifth of all the reforms recorded worldwide.
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The Poverty Line in Nigeria, which is the amount of income in which anybody below is classified as in poverty. The poverty line being defined is less than the minimum wage of labour workers in 1985, which contributes to the faulty economy.
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National GDP has actually doubled since independence, but due in large part to high birth rates per capita annual incomes are currently at about two-thirds of their levels at independence. As of 2018, Zambia's GDP per capita, PPP (current international dollars) stands at $4,216.46 [2].
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50 euro to nigerian naira according to the foreign exchange rate for today. You have just converted fifty euro to nigerian naira according to the recent foreign exchange rate 434.70338594. For fifty euro you get today 21,735 naira 16 kobo.
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Number Breakdown: Specifically, Nigerian Oil producing states include Delta, Akwa-Ibom, Bayelsa, Rivers, Edo, Ondo, Imo, Abia and Lagos. Note that since 2016, Lagos state has been officially declared an oil-producing state in Nigeria, however, the state still earns low from the derivation fund.
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The current Nigerian Minister of Finance is Zainab Shamsuna Ahmed appointed on 14 September 2018 in Abuja. Nigerian President Muhammadu Buhari accepted the resignation of his Finance Minister Kemi Adeosun.