10 BASIC FACTS ABOUT NIGERIA'S ECONOMY.
The following are the basic facts and figures about the economy of the Federal Republic of Nigeria: 1. Nigeria is rated as the country with the highest population in Africa with a total number of 188.7 million people. 2. The Gross Domestic Product (GDP) amounts to a sum of $1.1trillion, with a per capita income of $5,929. 3. The current unemployment rate is 7%. 4. Nigeria's inflation rate is 16.5%. 5. The Foreign Direct Investment (FDI) inflow totals a figure of $3.5 billion. 6. Nigeria is rated as the 111th most freest nation and 14th among the Sub Saharan nation with an economic freedom score of 57.3%. 7. Over 60% of Nigerians are currently living in extreme poverty. 8. Nigeria's tax rate is as follows: a. Income Tax 24% b. Corporate Tax 30% c. Overall Tax Burden.5.2% 9. Over the past three years, Government Spendings had amounted to 10.8% of the country's GDP, Budget Deficit amounted to 4.4% of the GDP and Public Debt is 23.4%. 10. The co