The Gross Domestic Product (GDP) in Nigeria expanded 3.84 percent in the fourth quarter of 2024 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.

Nigeria: Economic growth forecast: The latest value from 2030 is 3.47 percent, an increase from 3.46 percent in 2029. In comparison, the world average is 3.25 percent, based on data from 182 countries. Historically, the average for Nigeria from 1991 to 2030 is 4.18 percent. The minimum value, -1.79 percent, was reached in 2020 while the maximum of 14.6 percent was recorded in 2002.

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 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.

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.

In 2022, Nigeria's population was estimated at around *** million individuals. Demographic projections show that the Nigerian population might experience a constant increase in the next decades. By 2050, it is forecast that the population will grow to over *** million people compared to 2022.

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.

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.

NBS: Forecast: Total Trade: YoY data was reported at 11.640 % in 2019. This records a decrease from the previous number of 17.310 % for 2018. NBS: Forecast: Total Trade: YoY data is updated yearly, averaging 10.340 % from Dec 2011 (Median) to 2019, with 9 observations. The data reached an all-time high of 48.750 % in 2011 and a record low of -24.300 % in 2015. NBS: Forecast: Total Trade: YoY data remains active status in CEIC and is reported by National Bureau of Statistics of the Federal Republic of Nigeria. The data is categorized under Global Database’s Nigeria – Table NG.JA004: Trade Statistics: Year on Year Growth: Forecast: National Bureau of Statistics: Annual.

Nigeria: Economic growth forecast: Für diesen Indikator stellen wir Daten für Nigeria von 1991 bis 2030 bereit. Der durchschnittliche Wert für Nigeria in diesem Zeitraum lag bei 4.18 Prozent mit einem Minimum von -1.79 Prozent im Jahre 2020 und einem Maximum von 14.6 Prozent im Jahre 2002. Der neuste Wert aus dem Jahr 2030 liegt bei 3.47 Prozent. Zum Vergleich: Der Weltdurchschnitt im Jahr 2030, basierend auf 182 Ländern, liegt bei 3.25 Prozent.

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

Nigeria NBS Forecast: Real GDP data was reported at 84,064,363.500 NGN mn in 2019. This records an increase from the previous number of 79,596,971.230 NGN mn for 2018. Nigeria NBS Forecast: Real GDP data is updated yearly, averaging 69,144,885.840 NGN mn from Dec 2011 (Median) to 2019, with 9 observations. The data reached an all-time high of 84,064,363.500 NGN mn in 2019 and a record low of 57,511,041.770 NGN mn in 2011. Nigeria NBS Forecast: Real GDP data remains active status in CEIC and is reported by National Bureau of Statistics of the Federal Republic of Nigeria. The data is categorized under Global Database’s Nigeria – Table NG.A021: GDP: Forecast: National Bureau of Statistics.

Population growth (annual %) in Nigeria was reported at 2.083 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Nigeria - Population growth (annual %) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

In 2024, Niger's real GDP is estimated to grow by 10.4 percent compared to the previous year. During 2023, the GDP is estimated to have increased by only 1.4 percent, nevertheless a positive trend. The country's real GDP is forecast to continue growing but at a slower pace. Between 2025 and 2029, it is expected to grow annually by roughly six percent. Furthermore, the GDPs of Senegal, Libya, and Rwanda might increase by around 8.3 percent, 7.8 percent, and 6.9 percent during 2024, respectively. Niger: A dependence on agriculture A large portion of Niger's economy comes from agriculture. In 2022, agriculture accounted for almost 40 percent of the GDP. Niger is not the only country in Africa where agriculture plays a crucial role. For example, agriculture made up nearly 60 percent of Sierra Leone’s GDP in 2022. Such dependence could mean that any disruptions in the agricultural products market could have significant effects on the country's GDP. Sub-Saharan Africa's economy will be among the fastest-growing regions worldwide Three African countries have significantly larger economies, namely, Nigeria, South Africa, and Egypt. As of 2022, these countries' GDP stood at nearly 477.4 billion, 475.2 billion, and 405.7 billion U.S. dollars. Furthermore, it is anticipated that Sub-Saharan Africa's GDP growth in 2026 will rank as the second-fastest growing economic region in the world after the ASEAN-5 countries, with a growth rate of approximately four percent. In contrast, economic areas such as the European Union are forecast to grow at only about 1.5 percent in the same year.

The Nigerian Data Center Server Market Report is Segmented by Form Factor (Blade Server, Rack Server, and Tower Server) and End User (IT and Telecommunication, BFSI, Government, Media and Entertainment, and Other End Users). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Nigeria: Investment forecast: The latest value from 2030 is 36.71 percent, an increase from 35.65 percent in 2029. In comparison, the world average is 24.06 percent, based on data from 164 countries. Historically, the average for Nigeria from 1990 to 2030 is 20.19 percent. The minimum value, 10.65 percent, was reached in 1994 while the maximum of 36.71 percent was recorded in 2030.

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 Nigeria Renewable Energy Market Report is Segmented by Type (Solar, Hydro, and Other Renewable Energy Sources). The Report Offers the Installed Capacity and Forecasts for the Nigerian Renewable Energy Market in GigaWatts (GW) for all the Above Segments.

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).