Nigeria, often referred to as the “Giant of Africa,” has earned this title through its substantial population of over 220 million and its prominent role in shaping Africa’s political, economic, and cultural landscape. Despite internal challenges, Nigeria continues to assert its global presence, backed by verifiable data, international recognition, and endorsements from world leaders.
Since gaining independence from Britain in 1960, Nigeria has consistently demonstrated leadership across the continent, particularly through peacekeeping efforts in neighbouring nations. The Nigerian military played a pivotal role in restoring peace to war-torn countries such as Liberia and Sierra Leone, contributing over 80% of the ECOWAS Monitoring Group (ECOMOG) forces. These efforts helped stabilise these nations during their civil wars and saved an estimated 250,000 lives, according to ECOWAS.
In addition, Nigeria was a key player in the fight against apartheid, providing both political and financial support to the African National Congress (ANC) during South Africa’s struggle. Reports indicate that Nigeria contributed approximately $61 million annually to the cause in the 1980s. Nelson Mandela himself acknowledged Nigeria’s unwavering support, emphasising that it would never be forgotten.
Economically, Nigeria remains the largest financial contributor to ECOWAS, covering nearly 60% of the organisation’s operational costs. As of 2022, Nigeria’s economy was valued at over $440 billion, making it the largest in Africa. Crude oil accounts for around 90% of export revenue, but in recent years, the country has successfully diversified its economy, particularly in the entertainment and tech sectors. Nollywood, Nigeria’s booming film industry, produces over 2,500 films annually and contributes approximately $7.2 billion to the economy. The tech sector, especially fintech, is also flourishing, attracting $1.6 billion in investments in 2021 alone, earning Lagos its reputation as “Africa’s Silicon Valley.”
Nigeria’s military is one of the largest in Africa and has played a crucial role in regional stability, particularly in combating the Boko Haram insurgency. Between 2015 and 2020, Nigerian military efforts resulted in the loss of nearly 70% of Boko Haram’s territory. The United Nations has recognised these efforts as essential to maintaining stability in West Africa.
Culturally, Nigeria’s influence extends globally. Renowned authors such as Wole Soyinka and Chimamanda Ngozi Adichie have made significant contributions to world literature, while the Nigerian diaspora continues to have a profound impact across various sectors, including business, academia, and healthcare. In 2021, Nigerians abroad sent home over $25 billion in remittances. Nigerian-Americans have also gained recognition for their success, with U.S. President Joe Biden praising their achievements, particularly in the fields of science and education.
However, Nigeria still faces challenges, including its continued reliance on oil exports and issues of corruption. In 2022, Transparency International ranked Nigeria 150th out of 180 countries on its Corruption Perceptions Index, highlighting the need for reforms. Nevertheless, there is optimism for the future. The International Monetary Fund projects that Nigeria’s economy will grow by 2.6% in 2024, driven by growth in non-oil sectors such as technology and agriculture.
For Nigeria to maintain and enhance its status as the “Giant of Africa,” it must continue diversifying its economy, fighting corruption, investing in youth, and strengthening its leadership roles in global organizations. With impressive achievements and the backing of world leaders, Nigeria is poised to rise further as both a continental and global power. As former U.S. President Bill Clinton once remarked, “Nigeria is a great country, blessed with enormous potential. The world is watching closely as it rises to meet its destiny.”
