One of the world's top oil exporters, Nigeria's oil wealth has evolved into a flash point in the country's long-running social conflict and violence. The future of the country's multinational oil industry, and the debate over whether Nigerians themselves will enjoy more benefits from the profitable resource, looms large over Nigeria's potential as a viable player in the global economy.

Despite abundant natural resources, Nigeria has struggled economically for decades. It is estimated that more than 40 percent of the population lives below the poverty line. Years of government mismanagement, widespread corruption and dependence on an uncertain oil market have left the African nation with a massive debt burden that has severely limited its ability to modernize. Taken as a whole, the debt — some $31 billion — represents more than 71 percent of the country's entire gross domestic product.

ECONOMY: A Factual Overview

GDP (USD): 41.4 Billion

GDP Growth (annual %): 3.9

Labor Force By Occupation: Agriculture 70%, Industry 10%, Services 20%

Major Exports: petroleum, petroleum products, liquefied natural gas, rubber

Major Imports: machinery, heavy equipment, manufactured goods, food products

Currency Exchange Rate (June 2003): 1 U.S. dollar = 134 Nigerian naira

Sources: World Bank, CIA