Country, say, next to unknown point (5)
I believe the answer is:
egypt
'country' is the definition.
(Egypt is a country)
'say next to unknown point' is the wordplay.
'say' becomes 'eg' (both can mean for example).
'next to' is a charade indicator (letters next to each other).
'unknown' becomes 'y' (algebra).
'point' becomes 'pt' (abbreviation for point).
'eg'+'y'+'pt'='EGYPT'
(Other definitions for egypt that I've seen before include "Sudan, Israel neighbour" , "African country, site of an ancient civilization" , "Land of the lower Nile" , "Cleopatra's country" , "N. African country" .)