Nigeria
On this page you will find beneficial information regarding foreign direct investment in / trading with Nigeria. If you are interested in exploring trade or investment possibilities in the country, feel free to contact the International Trade Council team. Additionally, we encourage you to engage with the official government investment agency featured on this page.
It is important to note that while the statistics presented on this page were understood to be accurate at the time of publication, they are subject to change over time. Please consult your ITC Trade Commissioner for up-to-date information.
Type of Government: Federal Presidential Republic
Population: 218.5 million (2022)
GDP: 472.6 billion USD (2022)
Corporate Tax Rate: 30 %
Personal Income Tax Rate: 11% - 24%
Major Exports: The top exports of Nigeria are Crude Petroleum ($52.1B), Petroleum Gas ($9.04B), Nitrogenous Fertilizers ($2B), Refined Petroleum ($1.04B), and Gold ($806M), exporting mostly to Spain ($9.41B), India ($8.2B), France ($4.95B), United States ($4.83B), and Netherlands ($4.23B).
Major Imports: The top imports of Nigeria are Refined Petroleum ($20.7B), Wheat ($3.03B), Cars ($1.24B), Broadcasting Equipment ($852M), and Vaccines, blood, antisera, toxins and cultures ($845M), importing mostly from China ($21.4B), Belgium ($7.72B), Netherlands ($6.47B), India ($5.43B), and United States ($3.24B). In 2022, Nigeria was the world's biggest importer of Other Vegetable Fibers Yarn ($30.2M).
Investment Agency: Nigerian Investment Promotion Commission
Website: https://www.nipc.gov.ng/
National Chamber of Commerce: Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA)
Website: https://naccima.com/
Customs Agencies: Nigeria Customs Service (NCS)
Website: https://customs.gov.ng/
