Here are details of top 10 major industries of the Nigerian economy that contributes greatly to her GDP.

• Banking Industry.
• Agricultural Industry.
• Construction Industry.
• Consumer Goods Industry.
• Healthcare Industry.
• ICT Sector.
• Oil and Gas Industry.
• Entertainment Industry.

What is Nigeria’s main source of income?

Nigeria is Sub Saharan Africa’s largest economy and relies heavily on oil as its main source of foreign exchange earnings and government revenues. Following the 2008-09 global financial crises, the banking sector was effectively recapitalized and regulation enhanced.

Who is the largest employer in Nigeria?

According to a World Bank survey, the agriculture sector is the largest employer of labor and income-generating activity in Nigeria.

Which state is the richest in Nigeria?

Lagos State. Lagos state is the richest state in Nigeria, it was founded on 27th May 1967 and was the then Federal Capital Territory for the colonial administrators. Lagos also served as a major financial center as it is Nigeria’s largest urban area.

Which is the most important industry in Nigeria?

The construction industry is certainly one of the major industries in the country with the likes of Julius Berger, CAT and Lafarge playing important roles. Consumer Goods is another major industry in the country. Consumer products include beauty products, plates, dishes, light bulbs, batteries; tobacco, beverages, medicines and many more.

How big is the oil industry in Nigeria?

The prominence of the petroleum industry in Nigeria is evident on the immense oil deposits found in the country which are estimated to be over 16 billion barrels. Some sources have the proven oil deposits in the country to be as high as 35 billion barrels.

What kind of crops do they grow in Nigeria?

The majority of people in the Nigerian agriculture industry mainly produce and process cash crops such as cocoa, peanuts, cotton, palm oil, corn, rice, sorghum, millet, cassava, yams, rubber, and more. They also raise animals like cattle, sheep, goats, pigs, and fish for their commercial values.

What kind of economy does Nigeria have in Africa?

Currently, the Nigerian economy is the largest in Africa and 30th largest in the world based on nominal GDP. The country is Africa’s leading oil producer and produces about 3% of the world’s crude oil supply.