UNCTAD, UNESCO, UNHCR, UNIDO, UNIKOM, UNITAR, UNMIBH, UNMOP, UNPREDEP,
UNTAES, UNU, UPU, WCL, WFTU, WHO, WIPO, WMO, WToO, WTrO

Diplomatic representation in the US:
chief of mission: Ambassador Wakili Hassan ADAMU
chancery: 1333 16th Street NW, Washington, DC 20036
telephone: [1] (202) 986-8400
consulate(s) general: New York

Diplomatic representation from the US:
chief of mission: Ambassador William TWADDELL
embassy: 2 Louis Farrakhan Crescent, Lagos
mailing address: P. O. Box 554, Lagos
telephone: [234] (1) 261-0097
FAX: [234] (1) 261-0257

Flag description: three equal vertical bands of green (hoist side),
white, and green

@Nigeria:Economy

Economy-overview: The oil-rich Nigerian economy continues to be
hobbled by political instability, corruption, and poor macroeconomic
management. Nigeria's unpopular military rulers have failed to make
significant progress in diversifying the economy away from
overdependence on the capital intensive oil sector which provides 30%
of GDP, 95% of foreign exchange earnings, and about 80% of budgetary
revenues. The government's resistance to initiating greater
transparency and accountability in managing the country's multibillion
dollar oil earnings continues to limit economic growth and prevent an
agreement with the IMF and bilateral creditors on debt relief. The
largely subsistence agricultural sector has failed to keep up with
rapid population growth, and Nigeria, once a large net exporter of
food, now must import food. Agricultural production in 1996 suffered
from severe shortages of fertilizer, and production of fertilizer fell
even further in 1997.

GDP: purchasing power parity-$132.7 billion (1996 est.)

GDP-real growth rate: 3.3% (1996 est.)

GDP-per capita: purchasing power parity-$1,300 (1996 est.)

GDP-composition by sector:
agriculture: 39%
industry: 31%
services: 30% (1996 est.)

Inflation rate-consumer price index: 12% (1997 est.)

Labor force:
total: 42.844 million
by occupation: agriculture 54%, industry, commerce, and services 19%,
government 15%

Unemployment rate: 28% (1992 est.)

Budget:
revenues: $13.9 billion (1998 est.)
expenditures: $13.9 billion, including capital expenditures of $NA
billion (1998 est.)

Industries: crude oil, coal, tin, columbite, palm oil, peanuts,
cotton, rubber, wood, hides and skins, textiles, cement and other
construction materials, food products, footwear, chemicals,
fertilizer, printing, ceramics, steel

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