Nigeria Economy

By Anonymous -

 a nation on the west coast of Africa, has more people than any other country in Africa. Nigeria ranks as one of the most populous countries in the world.Nigeria is a land of great variety. It has hot, rainy swamp lands; dry, sandy areas; grassy plains; and tropical forests. High plateaus and rocky mountains rise in various parts of the country.About half of the country's people live in rural areas.Most Nigerians earn their livelihood by farming, fishing, or herding. The country is a leading producer of cacao, peanuts, and other crops. In addition, Nigeria has mineral resources, including large deposits of petroleum.Over 27% of Nigerians are unemployed because of Covid-19. Nigeria's economy has contracted by 6.1% year on year in the second quarter this year. As with the most other economies around the world,the sharp drop in Nigeria's GDP growth is largely down to the slowdown in economic activity after the country resorted to a lockdown back in April to curb the spread of the virus.

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