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Country Profile - Nigeria

COUNTRY OVERVIEW

The Federal Republic of Nigeria, commonly referred to as Nigeria, is a federal republic in West Africa, bordering Benin in the west, Chad and Cameroon in the east, and Niger in the north. Its coast in the south lies on the Gulf of Guinea in the Atlantic Ocean. It comprises 36 states and the Federal Capital Territory, where the capital, Abuja is located. Nigeria is officially a democratic secular country

Nigeria

General Information:

Capital: Abuja

Language: English (official), Hausa, Yoruba, Igbo (Ibo), Fulani, over 500 additional indigenous languages

Religion: Muslim 53.5%, Roman Catholic 10.6%, other Christian 35.3%, other .6% (2018 est.)

Currency: Nigerian naira

Cryptocurrency: In 2019 Google Trends, Lagos, Nigeria was the number one city based on online search volumes for the Bitcoin cryptocurrency worldwide, however the use of cryptocurrency and trading are still unregulated by the government. Nigeria’s central bank has declared cryptocurrencies as being non-legal tender.

However, the use of cryptocurrencies has not been banned entirely in Nigeria. It was reported that Nigeria’s Securities and Exchange Commission set up a committee in 2019 to create a framework for the regulation of digital assets and local crypto exchanges in Nigeria. 

GMT: (+) 1

Nigeria is often referred to as the “Giant of Africa”, owing to its large population and economy.[8] With 186 million inhabitants, Nigeria is the most populous country in Africa and the seventh most populous country in the world. Nigeria has the third-largest youth population in the world, after India and China, with more than 90 million of its population under age 18. The country is viewed as a multinational state as it is inhabited by over 500 ethnic groups, of which the three largest are the Hausa, Igbo and Yoruba; these ethnic groups speak over 500 different languages and are identified with a wide variety of cultures. The official language is English. Nigeria is divided roughly in half between Christians, who live mostly in the southern part of the country, and Muslims, who live mostly in the north. A minority of the population practise religions indigenous to Nigeria, such as those native to the Igbo and Yoruba ethnicities.

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