The Nigerian economy has had its ups and downs. The nation got Independence in 1960 when its gross domestic product (GDP) was $4.20 billion and per capita income, $93.
The economy was largely undiversified at that time, with agriculture dominating. According to the Ominira Initiative, agriculture accounted for over 75 percent of foreign exchange (FX) earnings, 68 percent of GDP, and created employment opportunities for about 65 percent of the population.
By the late 1970s, the real job of diversification began. Oil sector
The Nigerian economy has had its ups and downs. The nation got Independence in 1960 when its gross domestic product (GDP) was $4.20 billion and per capita income, $93.
The economy was largely undiversified at that time, with agriculture dominating. According to the Ominira Initiative, agriculture accounted for over 75 percent of foreign exchange (FX) earnings, 68 percent of GDP, and created employment opportunities for about 65 percent of the population.
By the late 1970s, the real job of diversification began. Oil sector
