Tank up before you go

Last update – January 2024
Business environment risk
Political risk
Commercial risk
Financing risk
The country risk assessments are your North Star metrics to make the right decision for your business and understand the risks in international trade. We have always the best solution for your needs

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GDP USD477.4bn (World ranking 31, World Bank 2022)
Population 218.5mn (World ranking 6, World Bank 2022)
Form of state
Federal Republic
Head of government
Muhammadu Buhari (President)
Next elections
2027, legislative
  • Dominant economy in Africa in terms of population, GDP and crude oil production
  • A vibrant civil society accustomed to dealing with the cyclical nature of the economy
  • Vast mining potential, and investors are likely to be granted considerable incentives to develop the sector
  • Terrorism, insurgency, kidnapping and violent crime are major and growing deterrents to business operations in many parts of the country. Deep ethnic, religious and subnational divisions are risks to systemic stability.
  • Structural imbalances caused by a dependence on the import of refined products and generalized fuel subsidies
  • Long history of economic mismanagement and corruption continue to affect perceptions of doing business in the country

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  Exports Rank Imports  
India 18.0% 1 25.4% China
Spain 11.5% 2 14.0% Belgium
France 6.7% 3 9.0% United States
Netherlands 6.7% 4 7.1% India
United States 6.1% 5 Norway.png 5.1% Norway

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Exports Rank Imports
Petroleum, petroleum products and related materials  70.7%
1 29.8% Petroleum, petroleum products and related materials
Gas, natural and manufactured 20.1%
2 7.4% Road vehicles
Fertilizers other than group 272 1.7% 3 5.1% Other industrial machinery and parts
Other transport equipment 1.1% 4 4.8% Cereals and cereal preparations
Metalliferous ores and metal scrap 0.8% 5 3.5% Specialised machinery
Luca Moneta
Allianz Trade