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 amounted to 252.11 billion U.S. dollars in 2024. Between 1990 and 2024, the GDP rose by 164.57 billion U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The GDP will steadily rise by 191.49 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.

The Gross Domestic Product (GDP) in Nigeria expanded 3.98 percent in the third quarter of 2025 over the same quarter of the previous year. This dataset provides - Nigeria GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

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 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.

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.

Key information about Nigeria Nominal GDP

• Nigeria Nominal GDP reached 63.8 USD bn in Jun 2025, compared with 61.9 USD bn in the previous quarter.
• Nominal GDP in Nigeria is updated quarterly, available from Mar 2010 to Jun 2025, with an average number of 96.2 USD bn.
• The data reached an all-time high of 151.1 USD bn in Dec 2014 and a record low of 60.3 USD bn in Mar 2024.

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 4.2 % YoY in Jun 2025.
• Its GDP deflator (implicit price deflator) fell 55.7 % in Mar 2025.
• Nigeria GDP Per Capita reached 2,955.3 USD in Dec 2022.
• Its Gross Savings Rate was measured at 48.5 % in Dec 2024.
• For Nominal GDP contributions, Investment accounted for 23.7 % in Dec 2024.
• Public Consumption accounted for 4.6 % in Dec 2024.
• Private Consumption accounted for 47.0 % in Dec 2024.

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.

The growth of the real gross domestic product (GDP) in Nigeria amounted to 4.06 percent in 2024. Between 1991 and 2024, the growth rose by 4.61 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. The growth is forecast to decline by 0.07 percentage points from 2024 to 2030, fluctuating as it trends downward.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.

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.

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.

Key information about Nigeria Investment: % of GDP

• Nigeria Investment accounted for 23.7 % of its Nominal GDP in Dec 2024, compared with a ratio of 25.3 % in the previous year.
• Nigeria investment share of Nominal GDP data is updated yearly, available from Dec 1981 to Dec 2024, with an average ratio of 27.6 %.
• The data reached an all-time high of 89.4 % in Dec 1981 and a record low of 14.9 % in Dec 2013.

CEIC calculates Investment as % of Nominal GDP from annual Nominal Gross Capital Formation and annual Nominal GDP. Gross Capital Formation is calculated as the sum of Gross Fixed Capital Formation and Changes in Inventories. The National Bureau of Statistics provides Nominal Gross Capital Formation in local currency and Nominal GDP in local currency.


Related information about Nigeria Investment: % of GDP

• In the latest reports, Nigeria GDP expanded 4.2 % YoY in Jun 2025.
• Nigeria Nominal GDP reached 63.8 USD bn in Jun 2025.
• Its GDP deflator (implicit price deflator) fell 55.7 % in Mar 2025.
• Nigeria GDP Per Capita reached 2,955.3 USD in Dec 2022.
• Its Gross Savings Rate was measured at 48.5 % in Dec 2024.

The gross domestic product (GDP) per capita in Nigeria amounted to 1,083.51 U.S. dollars in 2024. Between 1990 and 2024, the GDP per capita rose by 148.33 U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The GDP per capita will steadily rise by 599 U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.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).

Graph and download economic data for Gross Domestic Product for Nigeria (MKTGDPNGA646NWDB) from 1960 to 2024 about Nigeria and GDP.

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

Quarterly dataset of the Nigeria GDP Growth Rate (QoQ), including historical data, latest releases, and long-term trends from 2010-06-30 to 2024-09-30. Available for free download in CSV format.

The Gross Domestic Product per capita in Nigeria was last recorded at 5665.45 US dollars in 2024, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Nigeria, when adjusted by Purchasing Power Parity is equivalent to 32 percent of the world's average. This dataset provides - Nigeria GDP per capita PPP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Nigeria GDP Per Capita

• Nigeria Gross Domestic Product (GDP) per Capita reached 2,955.323 USD in Dec 2022, compared with 2,853.939 USD in Dec 2021.
• Nigeria GDP Per Capita data is updated yearly, available from Dec 1981 to Dec 2022, with an average number of 581.492 USD.
• The data reached an all-time high of 3,315.550 USD in Dec 2019 and a record low of 492.767 in Dec 1999.
• CEIC calculates GDP per Capita from annual Nominal GDP and annual Population and converts it into USD. The National Bureau of Statistics provides Nominal GDP in local currency, at basic prices and Population. The Central Bank of Nigeria average market exchange rate is used for currency conversions. GDP per Capita prior to 2000 is calculated from Mid-year Population sourced from the International Monetary Fund.

Related information about Nigeria GDP Per Capita data

• In the latest reports, Nigeria GDP expanded 4.233 % YoY in Jun 2025.
• Nigeria Nominal GDP reached 63.773 USD bn in Jun 2025.
• Its GDP deflator (implicit price deflator) fell 55.656 % in Mar 2025.
• Gross Savings Rate of Nigeria was measured at 48.458 % in Dec 2024.

Key information about Nigeria Public Consumption: % of GDP

• Nigeria Public Consumption accounted for 4.6 % of its Nominal GDP in Dec 2024, compared with a share of 3.2 % in the previous year.
• Nigeria Public Consumption share of Nominal GDP ratio is updated yearly, available from Dec 1981 to Dec 2024, with an average number of 11.5 %.
• The data reached an all-time high of 13.2 % in Apr 2018 and a record low of 8.1 % in Apr 2004.

CEIC calculates Government Consumption as % of Nominal GDP from annual Government Consumption Expenditure and annual Nominal GDP. The National Bureau of Statistics provides Government Consumption Expenditure in local currency and Nominal GDP in local currency.


Related information about Nigeria Public Consumption: % of GDP

• In the latest reports, Nigeria GDP expanded 4.2 % YoY in Jun 2025.
• Nigeria Nominal GDP reached 63.8 USD bn in Jun 2025.
• Its GDP deflator (implicit price deflator) fell 55.7 % in Mar 2025.
• Nigeria GDP Per Capita reached 2,955.3 USD in Dec 2022.
• Its Gross Savings Rate was measured at 48.5 % in Dec 2024.
• For Nominal GDP contributions, Investment accounted for 23.7 % in Dec 2024.
• Private Consumption accounted for 47.0 % in Dec 2024.