Commodity market report
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7 Pages

Nigeria economic outlook Q3 2014

Nigeria economic outlook Q3 2014

Report summary

Nigeria's economy is dependent on revenue from the oil sector. It is the largest producer of oil in Africa and energy products accounted for 84% of total exports in 2012. Rebasing of the GDP figures in April saw Nigeria overtake South Africa as Africa's largest economy. Diversifying economic activity is essential for sustainable long term growth. However, maintaining a strong oil sector is critical, as revenues from this sector will fund the governments economic development plans.   

What's included?

This report includes 4 file(s)

  • Nigeria economic outlook Q3 2014 PDF - 323.31 KB 7 Pages, 1 Tables, 9 Figures
  • GDP Forecast Jul 2014.xls XLS - 1.58 MB
  • IP Forecast Jul 2014.xls XLS - 1.40 MB
  • Latest Population Forecast (with charts).xls XLS - 3.55 MB


This Economic Outlook presents our macroeconomic outlook to 2035 at the country level.

Specifically we assess the structure of the economy and present the GDP and industrial production outlook.

The long-term outlook is underpinned by a set of GDP models which take account of long-term structural drivers of GDP including demographics, investment and productivity growth.

Finally, we highlight the key risks facing our outlook, both upside and downside.

Wood Mackenzie's macroeconomic forecasts underpin all our commodity demand analysis, ensuring we continually deliver an integrated and consistent view.

  • Executive summary
  • Market structure
  • Economic outlook
  • Policy and regulation
    • Bilateral aid
  • Risks and uncertainties
    • Upside
    • Downside

In this report there are 10 tables or charts, including:

  • Executive summary
    • Economic indicators
  • Market structure
    • Nigeria Gross Value Added (GVA)
    • Nigeria exports
  • Economic outlook
    • Oil/NGL revenue
    • Annual GDP growth
    • Nigerian population by age cohort
    • GDP per capita (2005 US$)
  • Policy and regulation
    • Government debt and fiscal balance
    • Government debt stock
    • Policy and regulation: Image 3
  • Risks and uncertainties
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We work across every sector of oil, gas, power, renewables, chemicals, metals and mining, covering more than 150 countries. Our proprietary data and models are at the core of everything we do, ensuring our independent asset and company valuations are thoroughly robust and that we offer an accurate forward-looking view of economic indicators such as market supply, demand and price trends.

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