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.

Nigeria NG:(GDP) Gross Domestic Productper Capita: USD: 2015 Price data was reported at 2,449.588 USD in 2022. This records an increase from the previous number of 2,429.585 USD for 2021. Nigeria NG:(GDP) Gross Domestic Productper Capita: USD: 2015 Price data is updated yearly, averaging 1,769.882 USD from Dec 1960 (Median) to 2022, with 63 observations. The data reached an all-time high of 2,679.554 USD in 2015 and a record low of 1,223.532 USD in 1968. Nigeria NG:(GDP) Gross Domestic Productper Capita: USD: 2015 Price 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: Real. GDP per capita is gross domestic product divided by midyear population. 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. Data are in constant 2015 U.S. dollars.;World Bank national accounts data, and OECD National Accounts data files.;Weighted average;

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 GDP per capita for 2023 was $1,597, a 25.37% decline from 2022.

<ul style='margin-top:20px;'>

<li>Nigeria GDP per capita for 2022 was <strong>$2,139</strong>, a <strong>6.05% increase</strong> from 2021.</li>
<li>Nigeria GDP per capita for 2021 was <strong>$2,017</strong>, a <strong>0.12% decline</strong> from 2020.</li>
<li>Nigeria GDP per capita for 2020 was <strong>$2,020</strong>, a <strong>10.84% decline</strong> from 2019.</li>
</ul>GDP per capita is gross domestic product divided by midyear population. 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. Data are in current U.S. dollars.

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.

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 (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.

Nigeria NG: GDP: 2015 Price: USD: Gross Capital Formation data was reported at 74.713 USD bn in 2021. This records an increase from the previous number of 71.570 USD bn for 2020. Nigeria NG: GDP: 2015 Price: USD: Gross Capital Formation data is updated yearly, averaging 58.719 USD bn from Dec 1981 (Median) to 2021, with 41 observations. The data reached an all-time high of 110.120 USD bn in 1981 and a record low of 39.497 USD bn in 1987. Nigeria NG: GDP: 2015 Price: USD: 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: Real. 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 2008 SNA, net acquisitions of valuables are also considered capital formation. Data are in constant 2015 prices, expressed in U.S. dollars.;World Bank national accounts data, and OECD National Accounts data files.;Gap-filled total;

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.

Cost of food in Nigeria increased 21.97 percent in June of 2025 over the same month in the previous year. This dataset provides - Nigeria Food Inflation - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Nigeria Circular Economy: Tax Revenue: USD: 2015 PPP: Transport data was reported at 262.417 USD mn in 2021. This records an increase from the previous number of 183.574 USD mn for 2020. Nigeria Circular Economy: Tax Revenue: USD: 2015 PPP: Transport data is updated yearly, averaging 177.437 USD mn from Dec 2010 (Median) to 2021, with 12 observations. The data reached an all-time high of 262.417 USD mn in 2021 and a record low of 72.658 USD mn in 2011. Nigeria Circular Economy: Tax Revenue: USD: 2015 PPP: Transport data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Nigeria – Table NG.OECD.ESG: Environmental: Environmentally Related Tax Revenue: Cross Cutting Domains: Non OECD Member: Annual.

Inflation Rate in Nigeria decreased to 22.22 percent in June from 22.97 percent in May of 2025. This dataset provides - Nigeria Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

The telecommunications industry continues to contribute a greater share of the national GDP in Nigeria, reaching ***** percent in the fourth quarter of 2021. In 2015, this figure sat at *** percent.

Nigeria Circular Economy: Tax Revenue per Capita: 2015 PPP data was reported at 1.230 USD in 2021. This records an increase from the previous number of 0.881 USD for 2020. Nigeria Circular Economy: Tax Revenue per Capita: 2015 PPP data is updated yearly, averaging 0.905 USD from Dec 2010 (Median) to 2021, with 12 observations. The data reached an all-time high of 1.230 USD in 2021 and a record low of 0.439 USD in 2011. Nigeria Circular Economy: Tax Revenue per Capita: 2015 PPP data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Nigeria – Table NG.OECD.ESG: Environmental: Environmentally Related Tax Revenue: Cross Cutting Domains: Non OECD Member: Annual.

GDP from Manufacturing in Nigeria increased to 1824923.04 NGN Million in the fourth quarter of 2024 from 1651873.40 NGN Million in the third quarter of 2024. This dataset provides the latest reported value for - Nigeria Gdp From Manufacturing - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Nigeria inflation rate for 2023 was 24.66%, a 5.81% increase from 2022.

<ul style='margin-top:20px;'>

<li>Nigeria inflation rate for 2022 was <strong>18.85%</strong>, a <strong>1.89% increase</strong> from 2021.</li>
<li>Nigeria inflation rate for 2021 was <strong>16.95%</strong>, a <strong>3.71% increase</strong> from 2020.</li>
<li>Nigeria inflation rate for 2020 was <strong>13.25%</strong>, a <strong>1.85% increase</strong> from 2019.</li>
</ul>Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

Nigeria recorded a Government Debt to GDP of 52.90 percent of the country's Gross Domestic Product in 2024. This dataset provides the latest reported value for - Nigeria Government Debt to GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The benchmark interest rate in Nigeria was last recorded at 27.50 percent. This dataset provides - Nigeria Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

As of 2023, the GDP of Africa was estimated at roughly 3.1 trillion U.S. dollars. This was the highest value since 2010 when the continent's GDP amounted to approximately 2.1 trillion U.S. dollars. The GDP value in Africa generally followed an upward trend in recent years and was estimated to exceed 4.2 trillion U.S. dollars by 2027.

Leading the charge: the three leading African economies

Among the African countries, in 2021, Nigeria had the highest GDP with approximately 442 billion U.S. dollars. South Africa and Egypt followed. These three countries have the largest economies for various reasons. The most notable factors are their population size, natural resources, and level of economic development. Furthermore, Africa was projected to have a real GDP growth rate of 3.9 percent in 2023. Libya was the economy experiencing the highest growth rate in that year.

The Sub-Saharan African economy on the rise

A global comparison showed that Sub-Saharan Africa had the smallest GDP among all world regions in 2021, amounting to 1.87 trillion U.S. dollars. A closer look revealed that Sub-Saharan Africa had a GDP per capita of 1,626.3 U.S. dollars in 2021, again the lowest worldwide. However, the region's economy was forecast to experience continued growth in the following years, with the real GDP increasing by 3.7 percent in 2023.