Key information about Nigeria Tourism Revenue Growth

• Nigeria Tourism Revenue dropped 78.2 % YoY in Dec 2020, compared with a decrease of -25.6 % YoY in the previous year
• Nigeria Tourism Revenue Growth rate data is updated yearly, available from Dec 1996 to Dec 2020
• The data reached an all-time high of 184.3 % in Dec 2008 and a record low of -78.2 % in Dec 2020

Travel and tourism contributed 3.6 percent to Nigeria's GDP in 2022, which was equal to around 17.3 billion U.S. dollars. Compared to 2020, the contribution of travel and tourism to the Nigerian economy experienced an increase.

This study investigates the impact of tourism on economic growth in Nigeria between 2013 and 2023. Recognizing tourism as a catalyst for diversification in a predominantly oil-dependent economy, the research evaluates how key tourism indicators—revenue (TREV), employment (TEMP), foreign exchange earnings (FEXC), infrastructure (INFRA), and security (SEC)—influence Gross Domestic Product (GDP). The study employs a descriptive and analytical research design, integrating both quantitative and qualitative methods, with multiple regression analysis applied to assess variable relationships. Findings reveal a strong positive correlation between tourism and economic growth, with an R-squared value of 0.92 indicating that 92% of GDP variation is explained by tourism-related factors. Among these, infrastructure and security are found to have the most substantial and statistically significant impacts, followed closely by foreign exchange earnings and tourism revenue. While employment contributes positively, its effect is relatively modest. The results affirm the Tourism-Led Growth Hypothesis (TLGH) within the Nigerian context. The study concludes that strategic investment in infrastructure, enhanced security frameworks, and improved tourism promotion are critical to unlocking the sector’s full economic potential. It offers actionable recommendations for policymakers, investors, and community stakeholders to reposition tourism as a sustainable engine of national development.

USD 1990.72 Million in 2024; projected USD 6539.21 Million by 2033; CAGR 14.32%.

The international tourism receipts in Nigeria were forecast to continuously increase between 2024 and 2029 by in total *** trillion U.S. dollars (+****** percent). After the ninth consecutive increasing year, the tourism receipts is estimated to reach *** trillion U.S. dollars and therefore a new peak in 2029. Receipts denote expenditures by inbound tourists from other countries. Domestic tourism expenditures are not included. The forecast has been adjusted for the expected impact of COVID-19. The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in more than *** countries and regions worldwide. All input data are sourced from international institutions, national statistical offices, and trade associations. All data has been are processed to generate comparable datasets (see supplementary notes under details for more information).Find more key insights for the international tourism receipts in countries like Ghana and Senegal.

USD 0.35 Billion in 2024; projected USD 0.52 Billion by 2033; CAGR 4.58%.

The absolute economic contribution of tourism in Nigeria was forecast to continuously increase between 2024 and 2029 by in total **** billion U.S. dollars (+****** percent). After the ninth consecutive increasing year, the economic contribution is estimated to reach **** billion U.S. dollars and therefore a new peak in 2029. Depited is the economic contribution of the tourism sector in the country or region at hand.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to *** countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).Find more key insights for the absolute economic contribution of tourism in countries like Ivory Coast and Ghana.

Nigerias Tourismuseinnahmen: Veränderung im Jahresvergleich belief sich im 2020 auf -78.2 %. Dies stellt einen Rückgang im Vergleich zu den vorherigen Zahlen von -25.6 % für 2019 dar. Nigerias Tourismuseinnahmen: Veränderung im Jahresvergleich werden jährlich aktualisiert, mit einem Durchschnitt von -2.4 % von 1996 bis 2020, mit 25 Beobachtungen. Die Daten erreichten ein Allzeithoch in Höhe von 184.3 % im 2008 und ein Rekordtief in Höhe von -78.2 % im 2020. Nigerias Tourismuseinnahmen: Veränderung im Jahresvergleich Daten behalten den Aktiv-Status in CEIC und werden von CEIC Data gemeldet. Die Daten werden unter World Trend Pluss Global Economic Monitor – Table: Tourism Revenue: Y-o-Y Growth: Annual kategorisiert.

USD 0.73 Billion in 2024; projected USD 1.3 Billion by 2033; CAGR 6.62%.

The number of international tourist arrivals in Nigeria was forecast to continuously increase between 2024 and 2029 by in total *** million arrivals (+***** percent). After the ninth consecutive increasing year, the arrivals is estimated to reach **** million arrivals and therefore a new peak in 2029. Depicted is the number of inbound international tourists. According to World Bank this refers to tourists travelling to a country which is not their usual residence, whereby the main purpose is not work related and the planned visitation period does not exceed 12 months. The forecast has been adjusted for the expected impact of COVID-19.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in more than *** countries and regions worldwide. All input data are sourced from international institutions, national statistical offices, and trade associations. All data has been are processed to generate comparable datasets (see supplementary notes under details for more information).Find more key insights for the number of international tourist arrivals in countries like Ghana and Senegal.

Os dados de Receita do Turismo: Variação Anual da Nigéria foram registrados em -78.2 % em 2020. Este registro de uma queda com relação aos números anteriores de -25.6 % em 2019. Os dados de Receita do Turismo: Variação Anual da Nigéria são atualizados anualmente, com uma média de 184.3 % em 1996 até 2020, com 25 observações. Os dados alcançaram um alto recorde de 184.3 % em 2008 e um baixo recorde de -78.2 % em 2020. Os dados de Receita do Turismo: Variação Anual da Nigéria permanecem com status ativo na CEIC e são reportados pela fonte: CEIC Data. Os dados são classificados sob o World Trend Plus’ Global Economic Monitor – Table: Tourism Revenue: Y-o-Y Growth: Annual.

The international tourism expenditure per capita in Nigeria was forecast to continuously increase between 2024 and 2029 by in total ****** U.S. dollars (******* percent). After the ninth consecutive increasing year, the expenditure is estimated to reach ********** U.S. dollars and therefore a new peak in 2029. Covered are expenditures of international outbound visitors to other countries from the selected region, including payments to foreign carriers for international transport. Domestic tourism expenditures are not included. The forecast has been adjusted for the expected impact of COVID-19.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in more than *** countries and regions worldwide. All input data are sourced from international institutions, national statistical offices, and trade associations. All data has been are processed to generate comparable datasets (see supplementary notes under details for more information).Find more key insights for the international tourism expenditure per capita in countries like Ivory Coast and Senegal.

The Nigeria air freight market, valued at $3.01 billion in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 13.54% from 2025 to 2033. This expansion is fueled by several key factors. The burgeoning e-commerce sector in Nigeria is significantly driving demand for fast and reliable air freight services, particularly for smaller, high-value goods. Furthermore, increased foreign direct investment (FDI) in various sectors, including manufacturing and agriculture, is contributing to a rise in import and export activities, further boosting the air freight market. Growth in the country's oil and gas industry, coupled with increasing tourism, also contributes to the market's positive trajectory. The market is segmented by service type (forwarding, airlines, mail, other services), destination (domestic, international), and carrier type (belly cargo, freighter). Key players like DHL, UPS, and several indigenous companies like Folams Freights and Homeland Cargo Services compete in this dynamic market. However, infrastructural limitations at Nigerian airports, including congestion and limited cargo handling capacity, pose a challenge to sustained growth. Additionally, fluctuating fuel prices and regulatory hurdles can impact operational costs and profitability for air freight companies. Despite these challenges, the long-term outlook for the Nigeria air freight market remains positive. Continued investments in airport infrastructure modernization, coupled with government initiatives aimed at improving the ease of doing business, could significantly alleviate current constraints. The expanding middle class and growing consumer demand for imported goods promise to sustain market growth. Strategies focused on technological advancements, such as improved tracking and logistics management systems, will play a vital role in enhancing efficiency and competitiveness within the sector. The market's segmentation offers opportunities for specialized service providers to cater to specific niches, further driving growth and diversification. Recent developments include: March 2023: The Nigerian government has established specific committees comprising executives from both public and private businesses to build and run airports with cutting-edge cargo infrastructure, which is helping the nation's air cargo competitiveness. The Federal Airports Authority of Nigeria (FAAN) recently established committees to address the primary obstacles that have continued to impede Nigeria's growth of its air cargo infrastructure to increase air cargo traffic and infrastructure. According to experts, Nigeria is possibly at a disadvantage in the developing free trade area known as the African Continental Free Trade Area (AfCFTA) because of several things that could be improved in its air cargo value chain., May 2023: Nigerian exports of agricultural products are expected to see an increase in air cargo shipments. This is because people want to be able to get their food in its original form, without any of the chemicals and preservatives that come with them. According to the Federal Airports Authority of Nigeria (FAAN), Nigeria imports around 131 million tons of air cargo each year but only exports 16 million tons.. Key drivers for this market are: 4., Passenger flows is driving the market4.; Government Investments for the improvement of air freight is driving the market. Potential restraints include: 4., Passenger flows is driving the market4.; Government Investments for the improvement of air freight is driving the market. Notable trends are: Growth In Ecommerce is driving the market.

Nigeria car rental and ride leasing market valued at USD 1.2 billion, driven by urbanization, rising incomes, and tourism growth. Key segments include short-term rentals and individual consumers.

Nigeria luxury hotels & resorts market is valued at USD 1.2 Bn, driven by rising disposable income, tourism growth, and infrastructure development in key cities like Lagos and Abuja.

Abstract

The 2007 Nigeria Enterprise Survey was part of the UK Department for International Development/World Bank Group Investment Climate Program (ICP) that was launched by the Minister of Finance in August 2007. This program was a response to the request from the Nigeria Federal Minister of Finance to the World Bank Group and UK Department for International Development (DFID) to assist in the development of a diagnostic base on which enterprise and investment climate constraints could be measured and benchmarked internally across the 36 states and the Federal Capital Territory of Nigeria and internationally against key comparator countries, particularly the "BRIC" countries (Brazil, Russia, India and China).

The survey was conducted between September 2007 and February 2008. Data from 2387 establishments was analyzed. The survey was administered across 11 states (Abia, Anambra, Abuja, Bauchi, Cross Rivers, Enugu, Kaduna, Kano, Lagos, Ogun and Sokoto) and included manufacturing and services firms of different sizes.

The objective of the Enterprise Surveys is to obtain feedback from companies in client countries on the state of the private sector as well as to help in building a panel of enterprise data that will make it possible to track changes in the business environment over time, thus allowing, for example, impact assessments of reforms. Through face-to-face interviews with firms in the manufacturing and services sectors, the survey assesses the constraints to private sector growth and creates statistically significant business environment indicators that are comparable across countries.

The standard Enterprise Survey topics include firm characteristics, gender participation, access to finance, annual sales, costs of inputs/labor, workforce composition, bribery, licensing, infrastructure, trade, crime, competition, capacity utilization, land and permits, taxation, informality, business-government relations, innovation and technology, and performance measures. Over 90% of the questions objectively ascertain characteristics of a country’s business environment. The remaining questions assess the survey respondents’ opinions on what are the obstacles to firm growth and performance.

Geographic coverage

National

Analysis unit

The primary sampling unit of the study is the establishment. An establishment is a physical location where business is carried out and where industrial operations take place or services are provided. A firm may be composed of one or more establishments. For example, a brewery may have several bottling plants and several establishments for distribution. For the purposes of this survey an establishment must make its own financial decisions and have its own financial statements separate from those of the firm. An establishment must also have its own management and control over its payroll.

Universe

The whole population, or the universe, covered in the Enterprise Surveys is the non-agricultural economy. It comprises: all manufacturing sectors according to the ISIC Revision 3.1 group classification (group D), construction sector (group F), services sector (groups G and H), and transport, storage, and communications sector (group I). Note that this population definition excludes the following sectors: financial intermediation (group J), real estate and renting activities (group K, except sub-sector 72, IT, which was added to the population under study), and all public or utilities sectors.

Kind of data

Sample survey data [ssd]

Sampling procedure

The sample includes 2387 establishments: 1891 enterprises have at least 5 full-time employees and 496 are micro establishments with less than 5 full-time workers.

The sample for enterprises with more than four employees was designed using stratified random sampling with strata defined by region, sector and firm size.

Establishments located in 11 states - Abia, Anambra, Abuja, Bauchi, Cross Rivers, Enugu, Kaduna, Kano, Lagos, Ogun and Sokoto - were interviewed.

Following the ISIC (revision 3.1) classification, the following industries were targeted: all manufacturing sectors (group D), construction (group F), retail and wholesale services (subgroups 52 and 51 of group G), hotels and restaurants (group H), transport, storage, and communications (group I), and computer and related activities (sub-group 72 of group K). For establishments with five or more full-time permanent paid employees, this universe was stratified according to the following categories of industry: 1. Manufacturing: Food and Beverages (Group D, sub-group 15); 2. Manufacturing: Garments (Group D, sub group 18); 3. Manufacturing: Other Manufacturing (Group D excluding sub-groups 15 and 18); 4. Retail Trade: (Group G, sub-group 52); 5. Rest of the universe, including: • Construction (Group F); • Wholesale trade (Group G, sub-group 51); • Hotels, bars and restaurants (Group H); • Transportation, storage and communications (Group I); • Computer related activities (Group K, sub-group 72).

Size stratification was defined following the standardized definition used for the Enterprise Surveys: small (5 to 19 employees), medium (20 to 99 employees), and large (more than 99 employees). For stratification purposes, the number of employees was defined on the basis of reported permanent full-time workers.

The sampling frame of establishments with 5 employees and more was built with lists sourced from the Nigeria Manufacturer Association, the National Bureau of Statistics in Abia, Anambra, Abuja, Cross River, Enugu, Kaduna, Lagos, the ministry of commerce and industry in Ogun, Kano, Bauchi, and from the Abuja Business Directory, the Sokoto Business Directory. This master list was used to set the target sample size for each stratum. During the survey period, the list was updated as new information regarding establishments that had closed or were out-of-scope was gathered. The final population size in all strata and locations was 771018 with the vast majority of establishments operating in the micro and manufacturing strata. The sample (including the entire rest of universe and retail sample in each state) was selected at random from the master list by a computer program.

In this survey, the micro establishment stratum covers all establishments of the targeted categories of economic activity with less than 5 employees. The implementing agency (EEC Canada) selected an aerial sampling approach to estimate the population of establishments and select the sample in this stratum for all states of the survey.

First, to randomly select individual micro establishments for surveying, the following procedure was followed: i) select districts and specific zones of each district where there was a high concentration of micro establishments; ii) count all micro establishments in these specific zones; iii) based on this count, create a virtual list and select establishments at random from that virtual list; and iv) based on the ratio between the number selected in each specific zone and the total population in that zone, create and apply a skip rule for selecting establishments in that zone.

The districts and the specific zones were selected at first according to local sources. The EEC team then went in the field to verify the sources and to count micro establishments. Once the count for each zone was completed, the numbers were sent back to EEC head office in Montreal.

At the head office, the count by zone was converted into one list of sequential numbers for the whole survey region, and a computer program performed a random selection of the determined number of establishments from the list. Then, based on the number that the computer selected in each specific zone, a skip rule was defined to select micro establishments to survey in that zone. The skip rule for each zone was sent back to the EEC field team.

In Nigeria, enumerators were sent to each zone with instructions how to apply the skip rule defined for that zone as well as how to select replacements in the event of a refusal or other cause of non-participation.

Mode of data collection

Face-to-face [f2f]

Research instrument

The current survey instruments are available: - Core Questionnaire + Manufacturing Module [ISIC Rev.3.1: 15-37] - Core Questionnaire + Retail Module [ISIC Rev.3.1: 52] - Core Questionnaire [ISIC Rev.3.1: 45, 50, 51, 55, 60-64, 72] - Micro Establishments Questionnaire (for establishments with 1 to 4 employees).

The "Core Questionnaire" is the heart of the Enterprise Survey and contains the survey questions asked of all firms across the world. There are also two other survey instruments - the "Core Questionnaire + Manufacturing Module" and the "Core Questionnaire + Retail Module." The survey is fielded via three instruments in order to not ask questions that are irrelevant to specific types of firms, e.g. a question that relates to production and nonproduction workers should not be asked of a retail firm. In addition to questions that are asked across countries, all surveys are customized and contain country-specific questions. An example of customization would be including tourism-related questions that are asked in certain countries when tourism is an existing or potential sector of economic growth.

The survey topics include firm characteristics, gender participation, access to finance, annual sales, costs of inputs/labor, workforce composition, bribery, licensing, infrastructure, trade, crime, competition, capacity utilization, land and permits, taxation, informality, business-government relations, innovation and technology, registration, and performance measures. The questionnaire also assesses the survey respondents' opinions on

The Nigeria Foodservice Market Report is Segmented by Foodservice Type (Cafes and Bars, Cloud Kitchen, Full Service Restaurants, Quick Service Restaurants), Outlet (Chained Outlets, Independent Outlets), Location (Leisure, Lodging, Retail, Standalone, Travel), Service Type (Dine-In, Takeaway, Delivery), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

尼日利亚的旅游业收入：同比增长在12-01-2020达-78.2%，相较于12-01-2019的-25.6%有所下降。尼日利亚旅游业收入：同比增长数据按年更新，12-01-1996至12-01-2020期间平均值为184.3%，共25份观测结果。该数据的历史最高值出现于12-01-2008，达184.3%，而历史最低值则出现于12-01-2020，为-78.2%。CEIC提供的尼日利亚旅游业收入：同比增长数据处于定期更新的状态，数据来源于CEIC Data，数据归类于世界趋势数据库的全球经济数据 – 表：旅游业收入：同比增长：年度。

Abstract

The survey was conducted in Nigeria between April 2014 and February 2015 as part of Enterprise Surveys roll-out, an initiative of the World Bank. The objective of the survey is to obtain feedback from enterprises on the state of the private sector as well as to help in building a panel of enterprise data that will make it possible to track changes in the business environment over time, thus allowing, for example, impact assessments of reforms. Through interviews with firms in the manufacturing and services sectors, the survey assesses the constraints to private sector growth and creates statistically significant business environment indicators that are comparable across countries.

In Nigeria, data from 2,676 establishments was analyzed. Stratified random sampling was used to select the surveyed businesses. The data was collected using face-to-face interviews.

The standard Enterprise Survey topics include firm characteristics, gender participation, access to finance, annual sales, costs of inputs and labor, workforce composition, bribery, licensing, infrastructure, trade, crime, competition, capacity utilization, land and permits, taxation, informality, business-government relations, innovation and technology, and performance measures. Over 90 percent of the questions objectively ascertain characteristics of a country’s business environment. The remaining questions assess the survey respondents’ opinions on what are the obstacles to firm growth and performance.

Geographic coverage

National

Analysis unit

The primary sampling unit of the study is an establishment. The establishment is a physical location where business is carried out and where industrial operations take place or services are provided. A firm may be composed of one or more establishments. For example, a brewery may have several bottling plants and several establishments for distribution. For the purposes of this survey an establishment must make its own financial decisions and have its own financial statements separate from those of the firm. An establishment must also have its own management and control over its payroll.

Universe

The whole population, or the universe, covered in the Enterprise Surveys is the non-agricultural private economy. It comprises: all manufacturing sectors according to the ISIC Revision 3.1 group classification (group D), construction sector (group F), services sector (groups G and H), and transport, storage, and communications sector (group I). Note that this population definition excludes the following sectors: financial intermediation (group J), real estate and renting activities (group K, except sub-sector 72, IT, which was added to the population under study), and all public or utilities sectors. Companies with 100% government ownership are not eligible to participate in the Enterprise Surveys.

Kind of data

Sample survey data [ssd]

Sampling procedure

The sample was selected using stratified random sampling. Three levels of stratification were used in this country: industry, region and size.

• Industry stratification For panel firms, the universe was stratified into manufacturing industries and two service sectors (retail and other services). For fresh firms, the universe was stratified into seven manufacturing industries (food & beverage, garments, fabricated metal products, non-metallic mineral products, furniture, publishing, and other manufacturing) and six service sectors (retail, wholesale, transport, hotels & restaurants, repair of motor vehicles, and other services).

• Regional stratification 19 states: Abia, Abuja, Anambra, Cross River, Enugu, Gombe, Jigawa, Kaduna, Kano, Katsina, Kebbi, Kwara, Lagos, Nasarawa, Niger, Ogun, Oyo, Sokoto, Zamfara.

• Size stratification Small (5 to 19 employees), medium (20 to 99 employees), and large (more than 99 employees).

For the Nigeria ES, two sample frames were used. The fresh sample frame was built using data compiled from the NBS, as well as local and municipal business registries. Due to the fact that the previous round of surveys utilized different stratification criteria in the 2007 and 2009 survey samples, the following convention was used. The presence of panel firms was limited to a maximum of 50% of the achieved interviews in each cell. That sample is referred to as the panel.

The sample design for the Nigeria Enterprise Survey was generated with the aim of obtaining interviews at 2,640 establishments.

Given the impact that non-eligible units included in the sample universe may have on the results, adjustments may be needed when computing the appropriate weights for individual observations.

Mode of data collection

Face-to-face [f2f]

Research instrument

The following survey instruments are available: - Manufacturing Module Questionnaire - Services Module Questionnaire

The survey is fielded via manufacturing or services questionnaires in order not to ask questions that are irrelevant to specific types of firms, e.g. a question that relates to production and nonproduction workers should not be asked of a retail firm. In addition to questions that are asked across countries, all surveys are customized and contain country-specific questions. An example of customization would be including tourism-related questions that are asked in certain countries when tourism is an existing or potential sector of economic growth.

The eligible manufacturing industries have been surveyed using the Manufacturing Module Questionnaire (includes a common set of core variables, plus manufacturing specific questions). Eligible service establishments have been covered using the Services Module Questionnaire. Each variation of the questionnaire is identified by the index variable, a0.

All variables are named using, first, the letter of each section and, second, the number of the variable within the section, i.e. a1 denotes section A, question 1 (some exceptions apply due to comparability reasons). Variable names proceeded by a prefix "NG" indicate questions specific to Nigeria, therefore, they may not be found in the implementation of the rollout in other countries. All other suffixed variables are global and are present in all country surveys over the world. All variables are numeric with the exception of those variables with an "x" at the end of their names. The suffix "x" denotes that the variable is alpha-numeric.

Cleaning operations

Data entry and quality controls are implemented by the contractor and data is delivered to the World Bank in batches (typically 10%, 50% and 100%). These data deliveries are checked for logical consistency, out of range values, skip patterns, and duplicate entries. Problems are flagged by the World Bank and corrected by the implementing contractor through data checks, callbacks, and revisiting establishments.

Response rate

Survey non-response must be differentiated from item non-response. The former refers to refusals to participate in the survey altogether whereas the latter refers to the refusals to answer some specific questions. Enterprise Surveys suffer from both problems and different strategies were used to address these issues.

Item non-response was addressed by two strategies: a- For sensitive questions that may generate negative reactions from the respondent, such as corruption or tax evasion, enumerators were instructed to collect "Refusal to respond" (-8) as a different option from "Don't know" (-9). b- Establishments with incomplete information were re-contacted in order to complete this information, whenever necessary.

Survey non-response was addressed by maximizing efforts to contact establishments that were initially selected for interview. Attempts were made to contact the establishment for interview at different times/days of the week before a replacement establishment (with similar strata characteristics) was suggested for interview. Survey non-response did occur but substitutions were made in order to potentially achieve strata-specific goals.

The number of interviews per contacted establishments was 0.49. This number is the result of two factors: explicit refusals to participate in the survey, as reflected by the rate of rejection (which includes rejections of the screener and the main survey) and the quality of the sample frame, as represented by the presence of ineligible units. The number of rejections per contact was 0.13.

In 2023, agriculture contributed around 22.72 percent to Nigeria’s GDP, 32.58 percent came from industry, and 42.77 percent from the services sector. Economic sectors The most common breakdown of economic activity in a country is looking at three economic sectors: The primary sector, which involves agriculture, forestry, and fishing, the secondary sector, industry, that includes manufacturing, processing, or transforming goods, and finally, the tertiary sector, services, i.e. providing information or services to consumers, such as in IT, tourism, or banking. A country’s contribution to GDP, and thus its own economy, is easily visible when looking at the performance of these three sectors. Soaring services in NigeriaLike in most thriving economies nowadays, the services sector is gaining momentum in Nigeria, because more and more people are moving from the countryside to the cities to find jobs. Nigeria is a mixed economy which focuses mainly on telecommunications, financial services, and technology, a strategy that is likely to pay off in the future and will see its GDP soaring. Nigeria’s reliance on oil is also an important contributor to its economic success; between 2001 and 2010, it was one of the countries with the highest GDP growth worldwide. However, oil prices are also responsible for a GDP growth slump in 2016 and for the first trade deficit in over a decade.