10 Things You Didn't Know About Nigeria

Hello Displorers, welcome back to another exciting video and thanks watching, as you already know, it’s always a pleasure presenting to you some lesser known yet interesting facts about the beautiful countries on the African continent. In todays video, we are taking you all the way to east Africa and we are shining the light on Africa most populous country, Nigeria. Nigeria hold several records when it comes to Africa, officially the Federal Republic of Nigeria, Nigeria is bordered Niger in the north, Chad in the northeast, Cameroon in the east, and Benin in the west. Its coast in the south is located on the Gulf of Guinea in the Atlantic Ocean. The federation comprises 36 states and 1 Federal Capital Territory, where the capital, Abuja is located. With a population of more then 200 million people, Nigeria is the most populated country in Africa and and 7th in the world. It gained its independence from Britain on October 1st 1960 and the official language of the English Although Yoruba, Igbo and Hausa are widely spoken in the country.
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Nigeria which got its name from the river niger is a country with rich history, fascinating places and friendly people and with that said, here are 10 things you probably didn’t know about The Giant of Africa “Nigeria”
1. Nigeria has the largest Economy in Africa.

The economy of Nigeria is a middle-income, mixed economy and emerging market, with expanding manufacturing, financial, service, communications, technology and entertainment sectors. It is ranked as the 27th-largest economy in the world in terms of nominal GDP, and the 22nd-largest in terms of purchasing power parity. Nigeria has the largest economy in Africa followed by South Africa; its re-emergent manufacturing sector became the largest on the continent in 2013, and it produces a large proportion of goods and services for the West African subcontinent. Previously hindered by years of mismanagement, economic reforms of the past decade have put Nigeria back on track towards achieving its full economic potential. In February 2011, Citigroup projected that Nigeria would have the highest average GDP growth in the world in 2010–2050. Nigeria is one of two countries from Africa among 11 Global Growth Generators countries.





2. Nigeria is home to the second Largest Film industry in the world

The Nigerian Film industry is known as Nollywood. The creation of Nollywood started in the 1960s. It was when the first Nollywood movies were being created by historical filmmakers such as Ola Balogun, Hubert Ogunde, Jab Adu, Moses Olayia and Eddie Ugboma. They are considered the first generation of Nigerian filmmakers. By 2009, Nollywood had surpassed Hollywood as the world’s second largest movie industry by volume, right behind India’s Bollywood. And in 2014, the Nigerian government released data for the first time showing Nollywood is a $3.3 billion sector, with 1844 movies produced in 2013 alone. Nollywood currently produces about 50 movies per week.

3. Petroluem product is Nigeria’s Biggest Exports
Nigeria relies heavily on petroleum products for export revenues. In 2018, petroleum products accounted for about 92% of the country's exports. Top exports are crude petroleum ($35.6B), petroleum gas ($6.47B), and refined petroleum ($774M). Nigeria exports crude oil and imports refined oil due to lack of refineries and limited technology. Over-reliance on petroleum products exposes the country inflation and unstable revenues due to fluctuating oil prices. The West African state is among countries with vast deposits of natural gas but is unable to mobilize them for domestic consumption and export due to political instability, lack of technology, legislative shortcomings, inconsistent growth, insurgency, and corruption.
4. Nigeria is home to the Richest Black man in the world

Nigeria is home to some of the richest black people on the planet. For the seventh year in a row, Forbes has calculated that Aliko Dangote is Africa’s richest man, worth around $12.2 billion. He is also the only African that Bloomberg includes in its list of the world’s “fifty most influential people.” Yet, outside of business and financial circles, Dangote is not well known in the United States. Perhaps that is largely because his business interests—banking, cement, sugar, salt, agriculture, and manufacturing—are centered in Nigeria and Africa rather than overseas. Some other Black billionaires in Nigeria include, Mike Adenuga with a net worth of about 9.1 Billion dollars, Mike Adenuga is the second richest black man in the world, Adulsamad Rabiu net worth 1.4 Billion dollars and Foloronsho Alakija net worth 1.2 Billion dollars

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