Nigeria: Regional superpower, with flaws

The growth outlook inidcates relatively strong growth, spurred by the oil and gas sector but also by the non-oil parts of the economy, particularly telecommunications, construction and agriculture.

The government adopts an overall policy of economic diversification away from oil and gas and actively seeks investment in non-hydrocarbons sectors, including mining, agriculture, financial services and manufacturing.

Current account surpluses are substantial, with a positive balance equivalent to +13% of GDP in 2012.