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 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.

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.

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.

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.

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.

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 .

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.

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 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 2023, agriculture contributed around 22.72 percent to Nigeria’s GDP, 32.58 percent came from industry, and 42.77 percent from the services sector. Economic sectors The most common breakdown of economic activity in a country is looking at three economic sectors: The primary sector, which involves agriculture, forestry, and fishing, the secondary sector, industry, that includes manufacturing, processing, or transforming goods, and finally, the tertiary sector, services, i.e. providing information or services to consumers, such as in IT, tourism, or banking. A country’s contribution to GDP, and thus its own economy, is easily visible when looking at the performance of these three sectors. Soaring services in NigeriaLike in most thriving economies nowadays, the services sector is gaining momentum in Nigeria, because more and more people are moving from the countryside to the cities to find jobs. Nigeria is a mixed economy which focuses mainly on telecommunications, financial services, and technology, a strategy that is likely to pay off in the future and will see its GDP soaring. Nigeria’s reliance on oil is also an important contributor to its economic success; between 2001 and 2010, it was one of the countries with the highest GDP growth worldwide. However, oil prices are also responsible for a GDP growth slump in 2016 and for the first trade deficit in over a decade.

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;

GDP Growth Oil Sector in Nigeria increased to 4.05 percent in the second quarter of 2025 from 3.97 percent in the first quarter of 2025. This dataset includes a chart with historical data for Nigeria GDP Growth Oil Sector.

In the second quarter of 2023, the agricultural sector generated about ** percent of Nigeria's gross domestic product. The largest contribution was from crop production, which covered nearly ** percent of the GDP. Agriculture accounted for a significant portion of Nigeria's GDP as a key activity for the country's economy after oil. Nevertheless, agricultural activities provide a livelihood for many Nigerians, whereas the wealth generated by oil reaches a restricted share of people.

Actual value and historical data chart for Nigeria GDP Per Capita Growth Annual Percent

This study investigates the impact of tourism on economic growth in Nigeria between 2013 and 2023. Recognizing tourism as a catalyst for diversification in a predominantly oil-dependent economy, the research evaluates how key tourism indicators—revenue (TREV), employment (TEMP), foreign exchange earnings (FEXC), infrastructure (INFRA), and security (SEC)—influence Gross Domestic Product (GDP). The study employs a descriptive and analytical research design, integrating both quantitative and qualitative methods, with multiple regression analysis applied to assess variable relationships. Findings reveal a strong positive correlation between tourism and economic growth, with an R-squared value of 0.92 indicating that 92% of GDP variation is explained by tourism-related factors. Among these, infrastructure and security are found to have the most substantial and statistically significant impacts, followed closely by foreign exchange earnings and tourism revenue. While employment contributes positively, its effect is relatively modest. The results affirm the Tourism-Led Growth Hypothesis (TLGH) within the Nigerian context. The study concludes that strategic investment in infrastructure, enhanced security frameworks, and improved tourism promotion are critical to unlocking the sector’s full economic potential. It offers actionable recommendations for policymakers, investors, and community stakeholders to reposition tourism as a sustainable engine of national development.