D, IFC, ILO, IMO, IMF, INMARSAT, INTELSAT,
INTERPOL, IOC, ISO, ITU, LORCS, NAM, OAU, OIC, OPEC, PCA, UN, UNCTAD,
UNESCO, UNHCR, UNIDO, UNIIMOG, UPU, WCL, WHO, WMO, WTO
Diplomatic representation:
Ambassador Zubair Mahmud KAZAURE; Chancery at 2201 M Street NW, Washington,
DC 20037; telephone (202) 822-1500; there is a Nigerian Consulate General in
New York

:Nigeria Government

US:
Ambassador Lannon WALKER; Embassy at 2 Eleke Crescent, Lagos (mailing
address is P. O. Box 554, Lagos); telephone [234] (1) 610097; FAX [234] (1)
610257; there is a US Consulate General in Kaduna; note - the US Government
has requested Nigerian Government permission to open an Embassy Branch
Office in Abuja; the US Embassy will remain in Lagos until a later date,
when the Branch Office in Abuja will become the Embassy and the Embassy in
Lagos will become a Consulate General
Flag:
three equal vertical bands of green (hoist side), white, and green

:Nigeria Economy

Overview:
Although Nigeria is Africa's leading oil-producing country, it remains poor
with a $250 per capita GDP. In 1991 massive government spending, much of it
to help ensure a smooth transition to civilian rule, ballooned the budget
deficit and caused inflation and interest rates to rise. The lack of fiscal
discipline forced the IMF to declare Nigeria not in compliance with an
18-month standby facility started in January 1991. Lagos has set ambitious
targets for expanding oil production capacity and is offering foreign
companies more attractive investment incentives. Government efforts to
reduce Nigeria's dependence on oil exports and to sustain noninflationary
growth, however, have fallen short because of inadequate new investment
funds and endemic corruption. Living standards continue to deteriorate from
the higher level of the early 1980s oil boom.
GDP:
exchange rate conversion - $30 billion, per capita $250; real growth rate
5.2% (1990 est.)
Inflation rate (consumer prices):
40% (1991)
Unemployment rate:
NA%
Budget:
revenues $10 billion; expenditures $10 billion, including capital
expenditures of $NA (1992 est.)
Exports:
$13.6 billion (f.o.b., 1990)
commodities:
oil 95%, cocoa, rubber
partners:
EC 51%, US 32%
Imports:
$6.9 billion (c.i.f., 1990)
commodities:
consumer goods, capital equipment, chemicals, raw mat