in AskYabacon What are the characteristics of the Nigerian economy? by Legit December 13, 2018, 12:12 pm 1 Comment Read LaterAdd to FavouritesAdd to CollectionReport Name* Email* Name* Email* 1 Comment Most Voted Newest Oldest Inline Feedbacks View all comments Nadia Thomas 6 months ago Nigeria practices a mixed economy: capitalist and command. I should note that rural areas which still account for a large part of the population practice the traditional economy where they live off the land through farming, fishing etc. The society is close knit and economic decisions culturally based. This will of course phase out as people abandon the old rural way of life. According to the World Bank, in 1960 85% of Nigerians lived in rural areas. Today less than 50% do. There is a lot of entrepreneurial drive in the country especially amongst the young who account for 70%… Read more » 0 Reply What do you think? 0 points Upvote Downvote Browse and manage your votes from your Member Profile Page See more Previous article Which is the best bank to have a corporate account in Nigeria? Next article How could the Nigerian economy be improved?