The Gross Domestic Product (GDP) in Nigeria expanded 3.13 percent in the first 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.

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.

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.

This paper examines proxies of money market, capital market, and banks in Nigeria using annual data from 1961 to 2018. We employ autoregressive distributed lag (ARDL) bounds testing approach, Wald test, and vector error correction model (VECM) Granger causality technique to analyse the data. Our findings show that total subscriptions of treasury bills has a positive and negative statistically significant relationship with real gross domestic product (GDP) on the long-run and short-run, respectively. Hence, we argue that markets and banks exhibit competitive interaction in favour of markets in Nigeria. Additionally, our findings show a unidirectional short-run causality from real GDP to value of transactions on the Nigerian Stock Exchange (NSE). Furthermore, our results support the existence of growth-led finance view or demand-following hypothesis in Nigeria, as we observe a unidirectional long-run causality from real GDP to both value of money market instruments outstanding as at end-period and total subscriptions of treasury bills. This study investigates finance-growth nexus in Nigeria with a particular focus on banks and markets. The findings of this research reveal that the role of markets on economic growth is superior to banks in Nigeria. Hence, banks and markets are competitive. Additionally, our empirical findings provide evidence to support the existence of growth-led finance view in Nigeria. This research explains the relevance of the financial system on economic growth in Nigeria and provides corresponding insights to policy makers.

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.

Nigeria’s inflation has been higher than the average for African and Sub-Saharan countries for years now, and even exceeded 16 percent in 2017 – and a real, significant decrease is nowhere in sight. The bigger problem is its unsteadiness, however: An inflation rate that is bouncing all over the place, like this one, is usually a sign of a struggling economy, causing prices to fluctuate, and unemployment and poverty to increase. Nigeria’s economy - a so-called “mixed economy”, which means the market economy is at least in part regulated by the state – is not entirely in bad shape, though. More than half of its GDP is generated by the services sector, namely telecommunications and finances, and the country derives a significant share of its state revenues from oil.

Because it got high

To simplify: When the inflation rate rises, so do prices, and consequently banks raise their interest rates as well to cope and maintain their profit margin. Higher interest rates often cause unemployment to rise. In certain scenarios, rising prices can also mean more panicky spending and consumption among end users, causing debt and poverty. The extreme version of this is called hyperinflation: A rapid increase of prices that is out of control and leads to bankruptcies en masse, devaluation of money and subsequently a currency reform, among other things. But does that mean that low inflation is better? Maybe, but only to a certain degree; the ECB, for example, aspires to maintain an inflation rate of about two percent so as to keep the economy stable. As soon as we reach deflation territory, however, things are starting to look grim again. The best course is a stable inflation rate, to avoid uncertainty and rash actions.

Nigeria today

Nigeria is one of the countries with the largest populations worldwide and also the largest economy in Africa, with its economy growing rapidly after a slump in the aforementioned year 2017. It is slated to be one of the countries with the highest economic growth over the next few decades. Demographic key indicators, like infant mortality rate, fertility rate, and the median age of the population, all point towards a bright future. Additionally, the country seems to make big leaps forward in manufacturing and technological developments, and boasts huge natural resources, including natural gas. All in all, Nigeria and its inflation seem to be on the upswing – or on the path to stabilization, as it were.

This article examines the impact of insecurity on economic growth in the North-Eastern states of Nigeria, a region plagued by persistent violent conflicts, particularly due to Boko Haram insurgency, banditry, and communal clashes. The study investigates how these security challenges have hindered economic development by disrupting agricultural activities, trade, and investment flows, which are the primary economic drivers in the region. Using data from official reports, surveys, and relevant literature, the article highlights key factors such as displacement of people, destruction of infrastructure, and loss of livelihoods. It further explores the resulting decline in GDP, employment rates, and government revenue. The findings reveal that insecurity has not only stifled local economies but also led to severe poverty and increased dependency on humanitarian aid. The article concludes by proposing policy recommendations, including improving security infrastructure, promoting peacebuilding efforts, and fostering regional economic diversification to mitigate the long-term impacts of insecurity on economic growth in North-Eastern Nigeria.

This study examined whether international competitiveness and trade openness are good predictors of long-run growth in Nigeria from 2000-2020. The essence is to predict Nigeria’s potential fate in participating in the African Continental Free Trade Area (AfCFTA).

This study examined the relationship between debt servicing and foreign exchange rate unification in Nigeria from 1995 to 2023, hypothesizing that a unified exchange rate policy would significantly impact the country's debt service-to-revenue ratio. Using annual time series data from sources such as the International Monetary Fund and World Development Indicators, the study employed an Autoregressive Distributed Lag (ARDL) model to analyze the relationship between the debt service-to-revenue ratio and factors including the official foreign exchange rate, GDP growth rate, inflation rate, and oil prices. The findings revealed several notable insights. Exchange rate unification was found to have a significant negative effect on the debt service-to-revenue ratio, suggesting that a unified exchange rate policy could help reduce Nigeria's debt service burden. Both current and lagged inflation rates showed a significant negative impact on the debt service-to-revenue ratio, indicating that higher inflation might be eroding the real value of debt or increasing nominal revenues faster than debt servicing costs. Lagged exchange rates were found to negatively affect the debt service-to-revenue ratio, implying that higher exchange rates in the previous period decrease the current ratio. Oil prices demonstrated mixed effects, with current prices positively impacting the debt service-to-revenue ratio while lagged prices had a negative effect. The study also revealed strong persistence in debt servicing behavior over time, as evidenced by the significant positive correlation between current and previous year's debt service ratios. These results offer significant implications for policymakers. The negative effect of exchange rate unification on the debt service-to-revenue ratio suggests that such a policy could improve efficiency in forex markets and reduce arbitrage opportunities, ultimately helping to reduce the debt service burden. The negative relationship between inflation and the debt service-to-revenue ratio indicates that higher inflation might be beneficial for debt servicing in the short term, though this should be interpreted cautiously given the potential negative consequences of high inflation. The mixed impact of oil prices reflects the complexity of Nigeria's oil-dependent economy, highlighting the need for economic diversification. The strong persistence in debt servicing commitments points to potential structural issues in debt management or lack of fiscal flexibility. Policymakers can use these findings to inform strategies for managing Nigeria's debt burden. The results suggest that pursuing exchange rate unification, carefully managing inflation, diversifying the economy to reduce oil dependence, and improving fiscal discipline could all contribute to better management of debt servicing costs. However, it's crucial to consider the lagged effects of economic variables on debt servicing when formulating long-term fiscal strategies.

The size of the Nigeria Data Center market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 21.06% during the forecast period.A data center is a site that hosts computer systems and networking equipment so as to store, process, and transmit the data. It provides organizations with the infrastructure necessary to operate their IT systems and applications. Data centers are important for businesses of any size, be it a small start-up or big companies, in ensuring smooth storage, processing, and retrieval of the data.Drivers for the Nigerian data center market include the expansion of cloud computing, digital transformation efforts, and demand for data storage and processing capabilities, all of which will keep pushing for a robust development of data center infrastructure. In addition to these, other growth drivers include government initiatives in achieving a functioning digital economy and new emerging industries like fintech and e-commerce.Three major challenges facing the Nigerian data center include power supply, quality infrastructure availability, and regulatory barriers. With new investment inflows from home-grown and foreign players alike into this sector, it is hopeful that growth in the market will be there for the long haul. Nigeria has consistently moved towards digital technologies with growing haste; therefore, it would fairly seem that a shift in reliance towards reliable and scaleable data centre solutions will increasingly occur. Recent developments include: April 2022: Equinix, Inc. acquired MainOne, the parent company of MDX-I, for about USD 320 million to begin its expansion into the African region. This would allow Equinix to practise its long-term strategy to offer carrier-neutral data center services in Nigeria.. Key drivers for this market are: Rise of E-Commerce, Flourishing Startup Culture. Potential restraints include: Slow Penetration Rate in Developing Countries. Notable trends are: OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT.

Inflation Rate in Nigeria decreased to 21.88 percent in July from 22.22 percent in June of 2025. This dataset provides - Nigeria Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Background: One of the main goals of the government is to ensure a development that would enhance the living standard of the people in the society. In this regard, capital expenditure that would promote infrastructure is most desired. However, in Nigeria, the government spends more on administrative cost (recurrent expenditure) than capital expenditure. Under such condition, contributions to economic growth and national development become an illusion.Methods: This study employed Augmented Dickey Fuller Test (ADF) with Bound testing procedure, time series data that covers the period from 1990 to 2020 in Nigeria were used.Results: The result from the analysis showed that governmental expenditure has a significant effect on the national development of Nigeria. All the variables have a long-run relationship with economic growth (RGDP), according to the ARDL model's results. If the government poor policies on education, health services, and infrastructure etc. are addressed, in the long-run, Nigeria will achieve monumental development.Conclusion: The study adopted indices such as expenditure on Social and Community Services, Economic Services and Administrative Services to reflect the dynamics of government expenditure coupled with the yearly data garnered from the Central Bank of Nigeria spanning from 1990 to 2020.

This study examines the short and long-run causal effects and the direction of causality in the relationship between interest rate, foreign direct investment, and economic growth in Nigeria, for the period, 1980 to 2021.

GDP from Agriculture in Nigeria increased to 5785472.38 NGN Million in the fourth quarter of 2024 from 5763385.21 NGN Million in the third quarter of 2024. This dataset provides the latest reported value for - Nigeria Gdp From Agriculture - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The average inflation rate in the Nigeria was forecast to continuously decrease between 2023 and 2028 by in total 6.1 percentage points. The average inflation rate is estimated to amount to 14 percent in 2028.Following the definitions provided by the International Monetary Fund, this indicator measures inflation based upon the year on year change in the average consumer price index. The latter expresses a country's average level of prices based on a typical basket of consumer goods and services. Depicted here is the year-on-year change in said index measure, expressed in percent.Find more key insights for the average inflation rate in countries like Senegal, Mali and Cote D'Ivoire.

Urban versus rural inflation disparity Comparing rural to urban areas in Nigeria showed that inflation was slightly worse in urban areas, with a difference of close to one percent in 2022. Other economic indicators reveal that inflation had a severe impact on the prices of consumer goods. Moreover, the Consumer Index Price of food in Nigeria in 2022 was 590.2. The food products with the highest percentage change in price was beans with 40 percent and over, depending on the color. That was followed by beef articles with 34 to close to 37 percent, depending on the part.

Fuel price surges: a closer look at diesel price fluctuations in Nigeria Another area that saw a dramatic spike in prices was fuel prices. In February 2023, there was a 0.98 percent rise in the cost of diesel in Nigeria when compared to January 2023. The most substantial surge occurred in March 2022. During that month, the average price of diesel surged by nearly 73 percent in contrast to the preceding month. This sharp escalation was attributed to a worldwide deficit in fuel supply and difficulties in the supply chain, which was prompted by the conflict in Ukraine and regulations implemented to control the transmission of COVID-19. Furthermore, consumers in Nigeria faced an average diesel price of 836.91 Nigerian naira (NGN), approximately 1.82 U.S. dollars, per liter. The North-Central States of Nigeria displayed the most elevated prices, with consumers in this region paying an average of 850.65 NGN per liter, roughly 1.85 U.S. dollars. During this specific timeframe, Osun emerged as the State with the highest price across Nigeria, as diesel prices reached a pinnacle of 707 NGN (equivalent to 1.7 U.S. dollars).

The Nigerian Courier, Express, and Parcel (CEP) market presents a significant growth opportunity, exhibiting a Compound Annual Growth Rate (CAGR) exceeding 4.00% from 2019 to 2033. Driven by the burgeoning e-commerce sector, increasing urbanization, and a growing middle class demanding faster and more reliable delivery services, the market is poised for substantial expansion. Key segments fueling this growth include Business-to-Consumer (B2C) deliveries, express services, and light-weight shipments. The dominance of road transport reflects the current infrastructure landscape, although air freight is expected to see increased adoption as infrastructure improves and e-commerce expands into more remote areas. Major players like UPS, DHL, and local companies such as Red Star Express and ABC Transport are vying for market share, leading to increased competition and innovation in service offerings and pricing strategies. However, challenges remain, including infrastructural limitations (particularly in road networks outside major cities), regulatory hurdles, and security concerns, which can impact delivery times and costs. The market segmentation highlights the diverse needs within the Nigerian CEP market, offering opportunities for specialized service providers catering to specific industry verticals like healthcare or financial services. The forecast period of 2025-2033 indicates a particularly promising trajectory for market expansion, driven by the anticipated growth of digital transactions and e-commerce penetration across the country. The ongoing expansion of the Nigerian economy and its increasing integration into global trade networks significantly bolster the outlook for the CEP sector. Growth will be driven by improvements in digital financial services, facilitating seamless online transactions and further boosting e-commerce activity. Government initiatives aimed at improving infrastructure, such as road networks and logistics hubs, could significantly alleviate current constraints and accelerate market growth. However, maintaining a competitive edge will require companies to adapt to evolving consumer expectations, focusing on speed, reliability, and technological advancements in tracking and delivery management systems. Furthermore, addressing security challenges and fostering trust in the system through transparent and reliable operations is crucial for sustained long-term growth. The segmentation data reveals areas for niche market development, with companies potentially focusing on specialized solutions tailored to specific industries and shipment types. Recent developments include: March 2023: UPS entered a partnership with Google Cloud, where Google will help UPS by putting radio-frequency identification chips on packages to track them efficiently.September 2022: ABC Transport PLC raised about NGN 1.157 billion in new equity and debt capital to expand its balance sheet. The company raised NGN 900 million through bond issuance and the balance of NGN 257 million through rights issues to existing shareholders.September 2022: The company opened its branch in Nigeria in partnership with Karen-Happucha Global Services Limited. It provides a veritable platform for online marketing, ordering, and delivery of packages. The new offices provide over 400 direct and indirect jobs to Nigerians.. Key drivers for this market are: Increasing consumption of canned and frozen food, Growth urbanization and increased adoption of healthy lifestyle. Potential restraints include: Limited self-life of frozen food, Growing awareness regarding the consumption of fresh vegetables and fruits. Notable trends are: OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT.

The Africa data center power market is experiencing robust growth, projected to reach $502.70 million in 2025 and exhibiting a Compound Annual Growth Rate (CAGR) of 13.40% from 2025 to 2033. This expansion is fueled by several key drivers. Firstly, the rapid digitalization across various sectors, including IT and telecommunications, BFSI (Banking, Financial Services, and Insurance), government, and media and entertainment, is creating an insatiable demand for reliable power solutions within data centers. Secondly, increasing foreign direct investment (FDI) in African nations is bolstering infrastructure development, including the construction of new data centers and the upgrading of existing facilities. Thirdly, the rising adoption of cloud computing and the proliferation of edge data centers are further contributing to the market's growth trajectory. South Africa and Nigeria, as leading economies in the region, are expected to dominate the market share, reflecting their relatively advanced infrastructure and burgeoning digital economies. However, challenges remain, including power grid instability in some areas and the high cost of deploying and maintaining power infrastructure, which could act as restraints on market growth in certain regions. The market is segmented by power infrastructure solutions (UPS systems, generators, power distribution solutions), services, end-users, and geography, providing opportunities for specialized vendors to cater to specific needs. Leading players like ABB, Caterpillar, Cummins, Eaton, and Schneider Electric are actively competing in this dynamic market. The substantial growth of the African data center power market is indicative of a broader trend of technological advancement and economic development across the continent. The demand for reliable power is paramount for the functioning of data centers, ensuring business continuity and data security. The market's segmentation provides various entry points for companies of different sizes, from providing individual components like UPS systems to offering complete power solutions and maintenance services. While challenges exist, the long-term outlook for the market remains exceptionally positive, driven by the continued growth of the digital economy in Africa and the increasing focus on improving power infrastructure across the continent. This growth will likely attract further investment and innovation, leading to a more resilient and efficient data center power ecosystem in the years to come. Recent developments include: December 2023: Eaton Corporation announced the launch of its new Rack PDU G4 (4th generation), which provides a high-security and business continuity data center. It also combines with C39 outlets that securely connect both C14 and C20 power cords, backed by a locking mechanism and a built-in high retention system that secures the power cord., November 2023: ABB Ltd announced the launch of the Protecta Power panel board, designed for industrial, commercial, and institutional buildings. It is integrated with digital monitoring and control technology, enhancing durability and safety.. Key drivers for this market are: Rising Adoption of Mega Data Centers and Cloud Computing, Increasing Demand to Reduce Operational Costs. Potential restraints include: Rising Adoption of Mega Data Centers and Cloud Computing, Increasing Demand to Reduce Operational Costs. Notable trends are: IT and Telecom to Hold Significant Share.

Nigeria NG: Prevalence of Underweight: Weight for Age: Male: % of Children Under 5 data was reported at 21.300 % in 2014. This records a decrease from the previous number of 32.900 % for 2013. Nigeria NG: Prevalence of Underweight: Weight for Age: Male: % of Children Under 5 data is updated yearly, averaging 28.600 % from Dec 1990 (Median) to 2014, with 7 observations. The data reached an all-time high of 37.000 % in 1990 and a record low of 21.300 % in 2014. Nigeria NG: Prevalence of Underweight: Weight for Age: Male: % of Children Under 5 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.WDI: Health Statistics. Prevalence of underweight, male, is the percentage of boys under age 5 whose weight for age is more than two standard deviations below the median for the international reference population ages 0-59 months. The data are based on the WHO's new child growth standards released in 2006.; ; World Health Organization, Global Database on Child Growth and Malnutrition. Country-level data are unadjusted data from national surveys, and thus may not be comparable across countries.; Linear mixed-effect model estimates; Undernourished children have lower resistance to infection and are more likely to die from common childhood ailments such as diarrheal diseases and respiratory infections. Frequent illness saps the nutritional status of those who survive, locking them into a vicious cycle of recurring sickness and faltering growth (UNICEF, www.childinfo.org). Estimates of child malnutrition, based on prevalence of underweight and stunting, are from national survey data. The proportion of underweight children is the most common malnutrition indicator. Being even mildly underweight increases the risk of death and inhibits cognitive development in children. And it perpetuates the problem across generations, as malnourished women are more likely to have low-birth-weight babies. Stunting, or being below median height for age, is often used as a proxy for multifaceted deprivation and as an indicator of long-term changes in malnutrition.

GDP from Transport in Nigeria increased to 284851.99 NGN Million in the fourth quarter of 2024 from 183403.69 NGN Million in the third quarter of 2024. This dataset provides the latest reported value for - Nigeria Gdp From Transport - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The Nigeria data center rack market is experiencing robust growth, projected to reach a substantial market size. While the exact 2025 market size ("XX Million") is not provided, a reasonable estimate can be derived considering a CAGR of 23.20% from a presumed 2019 base. Assuming a modest market size in 2019 (for example, 50 million), extrapolating with a 23.20% CAGR leads to a 2025 market valuation significantly higher. This impressive growth is driven by several key factors. The increasing adoption of cloud computing and digital transformation initiatives across various sectors in Nigeria is fueling the demand for advanced data center infrastructure. Furthermore, the government's push for digital inclusion and investments in broadband infrastructure are creating a favorable environment for data center growth. The rising need for reliable and scalable IT solutions across businesses, particularly in sectors like finance, telecommunications, and government, is further bolstering market expansion. However, challenges remain. Limited power infrastructure in certain regions, high energy costs, and a potential skills gap in managing and maintaining data center facilities present constraints to the market's full potential. Despite these hurdles, the long-term outlook for the Nigeria data center rack market remains optimistic, driven by continuous technological advancements and the growing digital economy. Key players like Micoview Nigeria, Millennial Rack, Hewlett Packard Enterprise, nVent Electric PLC, Schneider Electric SE, Dell Inc, Vertiv Group Corp, Legrand, Rittal GMBH & Co KG, and Eaton Corporation are actively shaping the market landscape through competitive offerings and strategic partnerships. The market segmentation (which was missing from the initial prompt) likely includes various rack types (e.g., 19-inch racks, blade servers) and deployment models (on-premise, colocation). Continued investment in infrastructure and technology adoption will be crucial for sustaining the market's high growth trajectory. Key drivers for this market are: Increased Migration to Cloud-based Business Operations, Internet Adoption and Information Technology Services to Boost Market Progress. Potential restraints include: Low Availability of Resources. Notable trends are: Cloud segment to hold major share in the market.