Diplomatic representation: Ambassador Hamzat AHMADU; Chancery at 2201 M Street NW, Washington DC 20037; telephone (202) 822-1500; there are Nigerian Consulates General in Atlanta, New York and San Francisco; US—Ambassador Lannon WALKER; Embassy at 2 Eleke Crescent, Victoria Island, Lagos (mailing address is P. O. Box 554, Lagos); telephone [234] (1) 610097; there is a US Consulate General in Kaduna
Flag: three equal vertical bands of green (hoist side), white, and green
- Economy Overview: In 1989, despite rising oil prices, the economic performance failed to meet government expectations because of higher inflationary pressures fueled by a relatively poor agricultural performance. Agricultural production was up only 4% following a 10% decline in 1988, and manufacturing remained below the 1985 level with only a 6% increase. The government is continuing an economic adjustment program to reduce Nigeria's dependence on oil and to help create a basis for sustainable noninflationary growth.
GNP: $30.0 billion, per capita $270; real growth rate 4% (1989)
Inflation rate (consumer prices): 47.5% (1989)
Unemployment rate: 7.5% (1988 est.)
Budget: revenues $6.5 billion; expenditures $7.4 billion, including capital expenditures of $1.9 billion (1988 est.)
Exports: $8.4 billion (f.o.b., 1989 est.); commodities—oil 95%, cocoa, palm kernels, rubber; partners—EC 51%, US 32%
Imports: $5.7 billion (c.i.f., 1989 est.); commodities—consumer goods, capital equipment, chemicals, raw materials; partners—EC, US
External debt: $32 billion, medium and long-term (December 1989 est.)