sanjo became head of state. Seven new states were created in 1976, bringing the total to nineteen. Several military rulers followed, ending with the sudden death of General Sani Abacha in June, 1998. He was succeeded by General Abdulsalami Abubakar, who held elections in 1999 leading to the election of Olusegun Obasanjo, who took office in May, 1999.Nigeria is located in Western Africa bordering the Atlantic Ocean in the South. Its neighbors include Cameroon and Chad to the east, Niger to the north and Benin to the west. Nigeria is a very important country in Africa since it exports oil worldwide. Agriculture and industry constitute most of Nigeria's economic activity. Women represent an estimated 60-80 percent of the agricultural labor force, producing about two-thirds of the food crops. Currently, Nigeria's population exceeds 110 million. Nearly 50 percent of the country's population are women. Within Nigeria there are about 250 different ethnic groups that speak nearly 4000 dialects. Its religions are: Islam (50%), Christianity (40%) and traditional beliefs (10%). Ethnic problems have been common among the various tribal groups. Also, religious unrest has been seen between northern and southern regions of Nigeria.The oil-rich Nigerian economy, long hobbled by political instability, corruption, and poor macroeconomic management, is undergoing substantial economic reform under the new civilian administration. Nigeria's former military rulers failed to diversify the economy away from over dependence on the capital-intensive oil sector, which provides 20% of GDP, 95% of foreign exchange earnings, and about 65% of budgetary revenues. The largely subsistence agricultural sector has not kept up with rapid population growth, and Nigeria, once a large net exporter of food, now must import food. In 2000, Nigeria is likely to receive a debt-restructuring deal with the Paris club and a $1 billion loan from the IMF, both contingent on economic re...
