The Gross Domestic Product (GDP) in Nigeria was worth 187.76 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Nigeria represents 0.18 percent of the world economy. This dataset provides the latest reported value for - Nigeria GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The gross domestic product (GDP) in current prices in Nigeria stood at about 187.64 billion U.S. dollars in 2024. Between 1990 and 2024, the GDP rose by approximately 125.47 billion U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The GDP will steadily rise by around 109.80 billion U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.This indicator describes the gross domestic product at current prices. The values are based upon the GDP in national currency converted to U.S. dollars using market exchange rates (yearly average). The GDP represents the total value of final goods and services produced during a year.

Le Produit Intérieur Brut (PIB) du Nigeria a augmenté de 3,84 % au quatrième trimestre de 2024 par rapport au même trimestre de l'année précédente. Cette dataset fournit - Taux de croissance annuel du PIB du Nigeria - valeurs réelles, données historiques, prévisions, graphique, statistiques, calendrier économique et actualités.

In the first quarter of 2024, Nigeria's GDP increased by nearly three percent at basic prices. Nigeria's economy was impacted by the coronavirus pandemic in 2020, especially during the second and third quarters of that year. However, the last months of 2020 and the beginning of 2021 showed an increase.

The Gross Domestic Product (GDP) in Nigeria expanded 10 percent in the third quarter of 2024 over the previous quarter. This dataset provides - Nigeria GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The growth of the real gross domestic product (GDP) in Nigeria amounted to about 3.43 percent in 2024. From 1991 to 2024, the growth rose by approximately 3.98 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. Between 2024 and 2030, the growth will rise by around 0.04 percentage points, showing an overall upward trend with periodic ups and downs.This indicator describes the annual change in the gross domestic product at constant prices, expressed in national currency units. Here the gross domestic product represents the total value of the final goods and services produced during a year.

Key information about Nigeria Nominal GDP Growth

• Nigeria Nominal GDP Growth was reported at 18.914 % in Dec 2024.
• This records an increase from the previous number of 17.265 % for Sep 2024.
• Nigeria Nominal GDP Growth data is updated quarterly, averaging 13.035 % from Mar 2011 to Dec 2024, with 56 observations.
• The data reached an all-time high of 18.914 % in Dec 2024 and a record low of -2.796 % in Jun 2020.
• Nigeria Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Quarterly.

CEIC calculates quarterly Nominal GDP Growth from quarterly Nominal GDP. The National Bureau of Statistics provides Nominal GDP in local currency, at basic prices.

Industry is the main economic sector in Nigeria. According to a forecast, the contribution of the industry sector to GDP in the country will grow by *** percent in 2025 compared to a *** percent growth in the previous year. On the other hand, the GDP contribution of agriculture is expected to grow by *** percent in 2025.

Graph and download economic data for Real Gross Domestic Product for Nigeria (NGANGDPRPCPPPT) from 2000 to 2026 about Nigeria, REO, real, GDP, and rate.

The Gross Domestic Product per capita in Nigeria was last recorded at 2447.64 US dollars in 2024. The GDP per Capita in Nigeria is equivalent to 19 percent of the world's average. This dataset provides the latest reported value for - Nigeria GDP per capita - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The latest data from show economic growth of 3.12 percent, which is an increase from the rate of growth of 3.01 percent in the previous quarter and
an increase compared to the growth rate of 3.09 percent in the same quarter last year. The economic growth time series for Nigeria cover the period...

Nigeria GDP: Seasonally Adjusted data was reported at 74,237,984.557 NGN mn in Dec 2024. This records an increase from the previous number of 71,063,095.227 NGN mn for Sep 2024. Nigeria GDP: Seasonally Adjusted data is updated quarterly, averaging 28,630,696.094 NGN mn from Mar 2010 (Median) to Dec 2024, with 60 observations. The data reached an all-time high of 74,237,984.557 NGN mn in Dec 2024 and a record low of 13,197,217.222 NGN mn in Mar 2010. Nigeria GDP: Seasonally Adjusted data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Nigeria – Table NG.World Bank.GEM: Gross Domestic Products: Nominal: Quarterly.

The gross domestic product (GDP) per capita in Nigeria was estimated at about 824.02 U.S. dollars in 2024. From 1990 to 2024, the GDP per capita rose by approximately 171.10 U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. Between 2024 and 2030, the GDP per capita will rise by around 307.03 U.S. dollars, showing an overall upward trend with periodic ups and downs.This indicator describes the gross domestic product per capita at current prices. Thereby, the gross domestic product was first converted from national currency to U.S. dollars at current exchange rates and then divided by the total population. The gross domestic product is a measure of a country's productivity. It refers to the total value of goods and service produced during a given time period (here a year).

GDP from Services in Nigeria increased to 12974640.87 NGN Million in the fourth quarter of 2024 from 10777518.06 NGN Million in the third quarter of 2024. This dataset provides the latest reported value for - Nigeria Gdp From Services - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Full Year GDP Growth in Nigeria increased to 3.40 percent in 2024 from 2.74 percent in 2023. This dataset includes a chart with historical data for Nigeria Full Year Gdp Growth.

Key information about Nigeria Nominal GDP

• Nigeria Nominal GDP reached 111.3 USD bn in Mar 2023, compared with 128.6 USD bn in the previous quarter.
• Nominal GDP in Nigeria is updated quarterly, available from Mar 2010 to Mar 2023, with an average number of 112.3 USD bn.
• The data reached an all-time high of 151.1 USD bn in Dec 2014 and a record low of 85.0 USD bn in Mar 2010.

CEIC converts quarterly Nominal GDP into USD. The National Bureau of Statistics provides Nominal GDP in local currency, at basic prices. The Central Bank of Nigeria average market exchange rate is used for currency conversions.


Related information about Nigeria Nominal GDP

• In the latest reports, Nigeria GDP expanded 3.5 % YoY in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 11.3 % in Dec 2022.
• Nigeria GDP Per Capita reached 2,057.0 USD in Dec 2021.
• Its Gross Savings Rate was measured at 32.7 % in Dec 2021.
• For Nominal GDP contributions, Investment accounted for 33.8 % in Dec 2021.
• Public Consumption accounted for 5.1 % in Dec 2021.
• Private Consumption accounted for 62.2 % in Dec 2021.

Nigeria GDP per capita for 2023 was $1,597, a 25.37% decline from 2022.

<ul style='margin-top:20px;'>

<li>Nigeria GDP per capita for 2022 was <strong>$2,139</strong>, a <strong>6.05% increase</strong> from 2021.</li>
<li>Nigeria GDP per capita for 2021 was <strong>$2,017</strong>, a <strong>0.12% decline</strong> from 2020.</li>
<li>Nigeria GDP per capita for 2020 was <strong>$2,020</strong>, a <strong>10.84% decline</strong> from 2019.</li>
</ul>GDP per capita is gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars.

Nigeria: Gross Domestic Product, billions of U.S. dollars: The latest value from 2024 is 187.76 billion U.S. dollars, a decline from 363.85 billion U.S. dollars in 2023. In comparison, the world average is 612.35 billion U.S. dollars, based on data from 176 countries. Historically, the average for Nigeria from 1960 to 2024 is 160.81 billion U.S. dollars. The minimum value, 4.2 billion U.S. dollars, was reached in 1960 while the maximum of 574.18 billion U.S. dollars was recorded in 2014.

Graph and download economic data for Gross Domestic Product Per Capita for Nigeria (PCAGDPNGA646NWDB) from 1960 to 2024 about Nigeria, per capita, and GDP.

Key information about Nigeria Consolidated Fiscal Balance: % of GDP

• Nigeria Consolidated Fiscal Balance recorded a deficit equal to 5.7 % of its Nominal GDP in Sep 2024, compared with a deficit equal to 5.6 % in the previous quarter
• Nigeria Consolidated Fiscal Balance to GDP data is updated quarterly, available from Dec 2010 to Sep 2024, with an average ratio of -2.4 %
• The data reached an all-time high of -0.8 % in Mar 2015 and a record low of -5.7 % in Sep 2024

CEIC calculates quarterly Consolidated Fiscal Balance as % of Nominal GDP from quarterly Consolidated Fiscal Balance and quarterly Nominal GDP. The Central Bank of Nigeria provides Consolidated Fiscal Balance in local currency. The National Bureau of Statistics provides Nominal GDP in local currency, at basic prices.


Further information about Nigeria Consolidated Fiscal Balance: % of GDP

• In the latest reports, Nigeria National Government Debt reached 88.4 USD bn in Jun 2024
• Nigeria Nominal GDP reached 111.3 USD bn in Mar 2023