2. Â Egypt
Egypt is a transcontinental country with territories stretching from Africa’s northeast corner to Asia’s southwest corner across the Sinai Peninsula. Egypt shares its borders with the Gaza Strip and Israel, the Red Sea, Gulf of Aqaba, Red Sea, Sudan, and Libya. Cairo is the capital of the country.
Egypt is one of the most richest countries in Africa. The nation’s economy depends on agriculture, tourism, natural gas, and petroleum imports, and revenues from the Suez Canal. A large number of Egyptians also work abroad, primarily in Saudi Arabia and the remittances of these workers contribute to the wealth of the nation. Despite the abundant natural resources and nearness to the sea, overpopulation, desertification and decreasing water levels of the Nile are the major factors threatening the Egyptian economy. The infiltration of terrorist groups and internal rebellions also serve to damage the country’s economic stability.
1. Â Nigeria
The West African country of Nigeria is a federal constitutional republic. Benin, Chad, Cameroon, and Niger are the neighbors of Nigeria, and the Gulf of Guinea lies to the south of the country. The Federal Capital Territory and 36 states comprise Nigeria. Its capital city is Abuja and Lagos, Benn City, Ibadan, Kano are the other important cities of the country. The Nigerian economy is one of the best in the African continent. The country’s abundant natural resources, coastal location, well-developed legal, financial, and transport sectors are some of the factors that influence the growth of the country’s economy. Nigeria has the second largest stock exchange in the continent.
Nigeria acts as the biggest trading partner of the US among the other African countries. One-fifth of the oil produced here is exported to the US. The US is also the biggest investor in Nigeria. According to Citigroup, Nigeria will top in the world in average GDP growth between 2010 and 2050.
