Heterogeneity characterizes the largest African economy
With over 170 million inhabitants the west African state of Nigeria is one of the most populous in Africa. The economy, predominantly based on oil extraction, is the largest in Africa. Unemployment, poverty and the decline of the oil price since 2014 present the country with huge challenges. Nigerian society is characterised by ethnic, religious and economic differences between the north and south. The north-eastern federal states are destabilised by the Islamist terror group Boko Haram. In that region, KfW Development Bank has long supported Nigeria in eradicating the polio virus. Moreover, economic development and employment are promoted across the country by a variety of projects in the financial sector.