Nigerian Corporations

Economic Structure of Nigeria

The size of Nigeria is 823,770 km per square, and the estimated population of the country is 135 million. The economic structure of Nigeria is considered as a mixed economy, having middle income and an emerging market. The corrupt government of the country is considered as a barrier to the improvement and growth of the economy of the country. The middle income level of the people provides them with limited disposable income, which also affects the development of the industries. The GDP is $244.0 billion, and growth of GDP per capita is estimated as $1280. The literacy rate of the country is 67% which is not really increasing with the passage of years. the unemployment rate of Nigeria is also increasing highly with the passing years, as in 2007 it was calculated as 4% while in 2012 it was approximated as 24% (Ogunlana, 2006). Nigeria lies in the lowest quarter of poor countries, and the economy of the country is highly dependent on oil. The main exports of the country relies 90% on oil and petrochemicals.

Employment Statistics by Age and Gender

The rate of unemployment in Nigeria is high, and it has been analyzed that with the passage of time this rate is increasing. The employment rate of the country shows that both males and females are working, but the number of working men is more than the number of working females. The employment ratio shows that men are provided with more opportunities in Nigeria as compared to women, and this result in creating difficulties for them to survive. As the industrial growth of the country is not high, and the economy depends on agriculture and oil production and exports, it is getting difficult for the citizens to get jobs, whether the candidates belong to any gender ...