Nigeria's economy hardly gets through 2015

(MENAFN) Nigeria is classified as a mixed economy emerging market, and has already reached lower middle income status according to the World Bank, but its unsettled political status is imposing substantial pressure on its economy.

However, with its abundant supply of natural resources, well-developed financial, legal, communications, transport sectors and stock exchange, the African nation was ranked 30th in the world in terms of GDP (PPP) back in 2012.

In reality, the economic development had been hindered by years of military rule, corruption, and mismanagement, but there's indeed light at the end of the tunnel amid the restoration of democracy and subsequent economic reforms.

Moreover, the country also puts its hope on the fact that its the 12th largest producer of petroleum in the world and the 8th largest exporter, and has the 10th largest proven reserves, therefore with the fully measured policies, it can recover.