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.

The greatest economy in Africa is that of Nigeria. Gross domestic product (GDP), which represents the total cost of goods and services generated in Nigeria, is a key indicator of the country's economic development. In this data analysis, we will decide on the potential future of Nigeria's growth and examine some potential variables that could slow down the country's pace of development. We will also examine the role that leadership may play in the country's economy's expansion.

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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.

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.

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.

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.

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.

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.

This dataset provides a detailed view of Nigeria’s economic indicators from 1990 to 2023. It includes data on GDP, inflation rate, unemployment, and other critical economic metrics. The dataset aims to assist researchers, analysts, and policymakers in understanding the trends and patterns in Nigeria’s economic growth and challenges over the years.

NOTE: This Dataset does not represent the true data of Nigeria Economic. The dataset is prepared for the purpose of Learning and improving on data.

Nigeria NG: GDP: Growth: Gross Value Added: Services data was reported at -0.815 % in 2016. This records a decrease from the previous number of 4.781 % for 2015. Nigeria NG: GDP: Growth: Gross Value Added: Services data is updated yearly, averaging 4.434 % from Dec 1982 (Median) to 2016, with 35 observations. The data reached an all-time high of 28.503 % in 2004 and a record low of -7.872 % in 1984. Nigeria NG: GDP: Growth: Gross Value Added: Services 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: Gross Domestic Product: Annual Growth Rate. Annual growth rate for value added in services based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Services correspond to ISIC divisions 50-99. They include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average;

In the second quarter of 2023, Nigeria's Gross Domestic Product stood at 52.1 trillion Nigerian naira (NGN), around 66.84 billion U.S. dollars. In 2021, the value reached around 173.5 trillion NGN, over 390 billion U.S. dollars at the time. Moreover, Nigeria has one of the largest GDPs in Africa. Its GDP per capita ranked the nation 22nd among African countries in 2022.

Historical dataset showing Nigeria economic growth by year from 1960 to 2023.

Nigeria NG: GDP: Growth: Gross Value Added: Industry: Manufacturing data was reported at -0.212 % in 2017. This records an increase from the previous number of -4.318 % for 2016. Nigeria NG: GDP: Growth: Gross Value Added: Industry: Manufacturing data is updated yearly, averaging 4.524 % from Dec 1982 (Median) to 2017, with 36 observations. The data reached an all-time high of 39.050 % in 1985 and a record low of -33.827 % in 1983. Nigeria NG: GDP: Growth: Gross Value Added: Industry: Manufacturing 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: Gross Domestic Product: Annual Growth Rate. Annual growth rate for manufacturing value added based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Manufacturing refers to industries belonging to ISIC divisions 15-37. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average; Note: Data for OECD countries are based on ISIC, revision 4.

Nigeria NG: GDP: Growth: Gross Capital Formation data was reported at -4.794 % in 2016. This records a decrease from the previous number of -1.534 % for 2015. Nigeria NG: GDP: Growth: Gross Capital Formation data is updated yearly, averaging -0.634 % from Dec 1982 (Median) to 2016, with 35 observations. The data reached an all-time high of 59.301 % in 2006 and a record low of -43.260 % in 1984. Nigeria NG: GDP: Growth: Gross Capital Formation 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: Gross Domestic Product: Annual Growth Rate. Annual growth rate of gross capital formation based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Gross capital formation (formerly gross domestic investment) consists of outlays on additions to the fixed assets of the economy plus net changes in the level of inventories. Fixed assets include land improvements (fences, ditches, drains, and so on); plant, machinery, and equipment purchases; and the construction of roads, railways, and the like, including schools, offices, hospitals, private residential dwellings, and commercial and industrial buildings. Inventories are stocks of goods held by firms to meet temporary or unexpected fluctuations in production or sales, and 'work in progress.' According to the 1993 SNA, net acquisitions of valuables are also considered capital formation.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

Quarterly dataset of the Nigeria GDP Growth Rate (YoY), including historical data, latest releases, and long-term trends from 2015-06-30 to 2025-09-30. Available for free download in CSV format.

Nigeria NG: GDP: Growth data was reported at 0.815 % in 2017. This records an increase from the previous number of -1.617 % for 2016. Nigeria NG: GDP: Growth data is updated yearly, averaging 4.279 % from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 33.736 % in 2004 and a record low of -15.744 % in 1967. Nigeria NG: GDP: Growth 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: Gross Domestic Product: Annual Growth Rate. Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. 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.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

Nigeria NG: GDP: Growth: Gross Value Added: Agriculture, Forestry, and Fishing data was reported at 1.882 % in 2022. This records a decrease from the previous number of 2.127 % for 2021. Nigeria NG: GDP: Growth: Gross Value Added: Agriculture, Forestry, and Fishing data is updated yearly, averaging 3.926 % from Dec 1982 (Median) to 2022, with 41 observations. The data reached an all-time high of 55.578 % in 2002 and a record low of -4.382 % in 1984. Nigeria NG: GDP: Growth: Gross Value Added: Agriculture, Forestry, and Fishing 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: Gross Domestic Product: Annual Growth Rate. Annual growth rate for agricultural, forestry, and fishing value added based on constant local currency. Aggregates are based on constant 2015 prices, expressed in U.S. dollars. Agriculture corresponds to ISIC divisions 01-03 and includes forestry, hunting, and fishing, as well as cultivation of crops and livestock production. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 4.;World Bank national accounts data, and OECD National Accounts data files.;Weighted average;Note: Data for OECD countries are based on ISIC, revision 4.

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.

Nigeria NG: GDP: Growth: Gross Fixed Capital Formation data was reported at -4.972 % in 2016. This records a decrease from the previous number of -1.320 % for 2015. Nigeria NG: GDP: Growth: Gross Fixed Capital Formation data is updated yearly, averaging -0.726 % from Dec 1982 (Median) to 2016, with 35 observations. The data reached an all-time high of 59.388 % in 2006 and a record low of -35.997 % in 1984. Nigeria NG: GDP: Growth: Gross Fixed Capital Formation 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: Gross Domestic Product: Annual Growth Rate. Average annual growth of gross fixed capital formation based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Gross fixed capital formation (formerly gross domestic fixed investment) includes land improvements (fences, ditches, drains, and so on); plant, machinery, and equipment purchases; and the construction of roads, railways, and the like, including schools, offices, hospitals, private residential dwellings, and commercial and industrial buildings. According to the 1993 SNA, net acquisitions of valuables are also considered capital formation.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

Nigeria: Economic growth: the rate of change of GDP: The latest value from is percent, unavailable from percent in . In comparison, the world average is 0.00 percent, based on data from countries. Historically, the average for Nigeria from to is percent. The minimum value, percent, was reached in while the maximum of percent was recorded in .