Introduction: British influence and control over what would become Nigeria and Africa's most populous country grew through the 19th century. A series of constitutions after World War II granted Nigeria greater autonomy; independence came in 1960. Following nearly 16 years of military rule, a new constitution was adopted in 1999, and a peaceful transition to civilian government was completed. The government continues to face the daunting task of reforming a petroleum-based economy, whose revenues have been squandered through corruption and mismanagement, and institutionalizing democracy. In addition, Nigeria continues to experience longstanding ethnic and...

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Economic Overview: Nigeria's economic development has been uneven. Despite the country's substantial oil wealth, corruption remains a problem and poverty is widespread. Nigeria has the second highest GDP in Africa (US$166.78 billion in 2007), but it ranks poorly on the United Nations' Human Development Index, which measures countries' levels of development (Nigeria is ranked 158 out of 177 in the world, and 32 out of 51 African countries). However, macro-economic reforms have produced some positive results. GDP growth will be driven by the oil and gas sector for the foreseeable future, however increasing instability in the Niger Delta region, and trade in ...

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