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[Dataset] GDP Growth and Public Finance in Nigeria: FY2019/20
The Nigerian economy is dependent on oil because they constituted 80.3% of total export earnings in 2018 (2015-2016: 78.4%), which makes the economy susceptible to external shocks such as international oil prices. Following the collapse in international oil prices in 2014, Nigeria has experienced a slow recovery to macroeconomic stability. Real gross domestic product (GDP) growth has recovered from -1.6% in 2016 to an estimated 1.9% in 2018.