Know your Nigeria: 10 facts to mark Nigerian Independence Day

How Nigerian Independence Day is celebrated

They certainly mark the day with some real celebrations in Nigeria. Everyone from primary school children to top politicians join in the fun. Festivities usually kick off with a President’s address to the people that’s broadcast on radio and TV. There are national parades and the schools perform a ceremonial march-past in the various state capitals. Markets and offices are closed and the streets are filled with happy families and friends dressed in green-white-green - Nigeria’s colours.

Nigeria is the 7th most populated country in the world

It’s true. This large African nation that sits on the west coast of the continent is home to over 206 million people. Perhaps that is why it’s nicknamed the ‘Giant of Africa’.

Incredibly diversity

There’s not just two or three languages spoken in Nigeria - there’s an amazing 500!  English is the official language, but it’s spoken less frequently in rural areas. Other major languages include; Hausa, Yoruba, Igbo, Fulfulde, Ibibio and Kanuri..

The country is also 50% Christian and 50% Muslim.

The largest economy in Africa

It’s also the 30th largest economy in the world, with a GDP of about $398 billion. It relies heavily on petroleum products for export revenues. In fact, in 2018, they accounted for about 92% of all exports. Then there’s agriculture - over 70% of Nigerians work in it and it accounts for 22% of the country’s GDP.

Nigeria’s service industry ranks 27th in the world and first in Africa. As more and more international banks are becoming attracted to the market - there’s a real growing potential for financial services.

The second largest film industry in the world

Move over Hollywood! After Bollywood, Nigeria’s film industry (Nollywood) is the second biggest player in the global movie business.  It produces 1,000 films a year, generating $600 million annually and employing over 1 million people. Among some of its biggest stars are Jim Iyke, Richard Mofe Damijo and Chidi Mokeme.

The largest Nigerian diasporas are in the US & UK

400,000 Nigerians feel very at home in the US and 200,000 in the UK - living, working and many sending money home to their loved ones. South Africa, The Gambia and Canadaalso have sizeable Nigerian populations.

A highly educated migrant population

Nigerian migrants are a clever bunch. According to 2017 data, 61% of Nigerian migrants in the US have a bachelor’s degree or more, compared to 32% of the general population.

There’s a long list of successful Nigerians

All around the world there are star Nigerians making their mark in the arts, science, music and sport. Here are just a few:

• Anthony Joshua -world heavyweight boxing champion;

• John Boyega - Hollywood actor;

• Maggie Aderin-Pocock - space scientist.

• Wizkid - musician

• Maro Itoje - England Rugby player

• And many others who may be part Nigerian, part another nationality - and can say 'I fly two flags'

The importance of remittances to the Nigerian economy

Money transfers make up the second largest source of foreign exchange receipts after oil revenues in Nigeria, Africa's biggest economy.

According to the WorldBank,  approximately $26.4 billion was sent to Nigeria in 2019 - 5% of the country’s GDP.

Sending with WorldRemit

If you send money home to Nigeria regularly, then we can help. We offer a fast, easy and convenient online money transfer service that’s available to you 24/7.

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