Nigeria is recognized as one of the largest economies in Africa, characterized by a mixed economic structure that incorporates both state-owned and private enterprises. This classification places Nigeria among emerging markets and lower middle-income countries. As at 2023, Nigeria’s Gross Domestic Product (GDP), is estimated to be about $252.7 billion United States Dollars, resulting in a per capita GDP of about $1,100. By this and with the largest population on the continent, Nigeria ranks as the fourth largest economy by total GDP.