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Sub Saharan Africa

Nigeria
Last reviewed: 13 February 2008

Country information

TRADE AND INVESTMENT

Trade and Investment with the UK

Nigeria is the UK's second largest market in sub-Saharan Africa after South Africa. The value of UK exports has increased steadily from £535 million in 2000 to £836 million in 2006. Imports from Nigeria were worth £95 million in 2000, rising to £218 million in 2006. The UK is one of the largest investors in Nigeria, with cumulative investment of several billion pounds by Shell, British Gas and Centrica in the oil and gas sector. Other large British companies active in Nigeria include Guinness, Unilever, Cadbury, British-American Tobacco, GlaxoSmithKline, British Airways and Virgin Atlantic.

UK Trade and Investment Country Profile: Nigeria

Development

In spite of its oil wealth, Nigeria is not a rich country. Its Gross National Income (GNI) per capita is $640, lower than the average for sub-Saharan Africa. Fifty-two per cent of the population - over 70 million people - live on less than $1 a day.

Its very large population, together with endemic corruption, long periods of military misrule and the long-term mismanagement of resources has meant that Nigeria's socio-economic indicators are very low. Nigeria ranked 158 (out of 177) in the Human Development Report for 2007/8, again lower than the average for sub-Saharan Africa.

Following the return to civilian rule in 1999, the prospects for development have improved, although huge challenges remain. Improved economic governance helped Nigeria secure – with the UK’s support – the largest debt relief deal in Africa in 2005. Paris Club creditors wrote off 60% of debt (around $18 billion) and the UK alone cancelled £2.8 billion. The debt deal has helped the Nigerian Government release more money – around $1 billion per year – to spend on the Millennium Development Goals (MDGs).

United Nations Development Programme (UNDP)

World Bank

UK Development Assistance

The Department for International Development (DfID) delivers UK bilateral assistance in Nigeria. The UK has increased its support substantially since 2003. DfID's programme was £35 million in 2003/4 but it will spend up to £100 million in 2007/8. DfID's assistance in Nigeria is focused on 3 themes, supporting:

• An improved environment for non-oil growth
• Enhanced transparency and accountability for better governance
• Improved service delivery, particularly for health, education and HIV/AIDS.

DFID - Nigeria Country Assistance Plan

Country information

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Travel Advice

Travel Advice: Nigeria

See Also

Useful Links

• BBC News Country Profile: Nigeria BBC News: Africa
• IMF Country Reports - Nigeria
• DFID - Nigeria Country Assistance Plan
• United Nations Development Programme (UNDP)
• World Bank
• African Union
• The New Partnership for Africa's Development (NEPAD)
• ECOWAS
• Nigerian Government website
• UK Trade and Investment Country Profile: Nigeria
• Hansard website
• British Council
• 

Contacts

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