Political pressure groups and leaders:
Nigerian Labor Congress or NLC [Adams OSHIOMOLE]
International organization participation:
ACP, AfDB, C, ECA, ECOWAS, FAO, G-15, G-19, G-24, G-77, IAEA, IBRD,
ICAO, ICC, ICCt, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF,
IMO, Interpol, IOC, IOM, ISO, ITU, MINURSO, MONUC, NAM, OAU, OIC,
OPCW, OPEC, PCA, UN, UNAMSIL, UNCTAD, UNESCO, UNHCR, UNIDO, UNIKOM,
UNITAR, UNMEE, UNMIBH, UNMIK, UNMOP, UNMOT, UNMOVIC, UNU, UPU, WCO,
WFTU, WHO, WIPO, WMO, WToO, WTrO
Diplomatic representation in the US:
chief of mission: Ambassador Jibril Muhammad AMINU
consulate(s) general: Atlanta and New York
FAX: [1] (202) 775-1385
telephone: [1] (202) 986-8400
chancery: 3519 International Court NW, Washington, DC 20008
Diplomatic representation from the US:
chief of mission: Ambassador Howard Franklin JETER
embassy: 7 Mambilla Drive, Abuja
mailing address: P. O. Box 554, Lagos
telephone: [234] (9) 523-0916/0906/5857/2235/2205
FAX: [234] (9) 523-0353
Flag description:
three equal vertical bands of green (hoist side), white, and green
Economy Nigeria
Economy - overview:
The oil-rich Nigerian economy, long hobbled by political
instability, corruption, and poor macroeconomic management, is
undergoing substantial reform under the new civilian administration.
Nigeria's former military rulers failed to diversify the economy
away from overdependence on the capital-intensive oil sector, which
provides 20% of GDP, 95% of foreign exchange earnings, and about 65%
of budgetary revenues. 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. Following
the signing of an IMF stand-by agreement in August 2000, Nigeria
received a debt-restructuring deal from the Paris Club and a $1
billion credit from the IMF, both contingent on economic reforms.
The agreement was allowed to expire by the IMF in November 2001,
however, and Nigeria apparently received much less multilateral
assistance than expected in 2002. Nonetheless, increases in foreign
oil investment and oil production kept growth at 3% in 2002. The
government lacks the strength to implement the market-oriented
reforms urged by the IMF, such as modernization of the banking
system; to curb inflation by blocking excessive wage demands; and to
resolve regional disputes over the distribution of earnings from the
oil industry. When the uncertainties in the global economy are added
in, estimates of Nigeria's prospects for 2003 must have a wide
margin of error.
GDP:
purchasing power parity - $112.5 billion (2002 est.)
GDP - real growth rate:
3.2% (2002 est.)
GDP - per capita:
purchasing power parity - $900 (2002 est.)