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.

Graph and download economic data for Gross Domestic Product Per Capita for Nigeria (PCAGDPNGA646NWDB) from 1960 to 2024 about Nigeria, per capita, and GDP.

GDP per capita growth (annual %) in Nigeria was reported at 1.2944 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Nigeria - GDP per capita growth (annual %) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

GDP per capita, PPP (constant 2017 international $) in Nigeria was reported at 5593 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Nigeria - GDP per capita, PPP (constant 2005 international $) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

Nigeria NG: GDP: Real data was reported at 69,211,634.638 NGN mn in 2017. This records an increase from the previous number of 68,652,430.365 NGN mn for 2016. Nigeria NG: GDP: Real data is updated yearly, averaging 19,662,024.960 NGN mn from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 69,780,692.718 NGN mn in 2015 and a record low of 8,758,728.424 NGN mn in 1968. Nigeria NG: GDP: Real 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 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 local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

Graph and download economic data for Constant GDP per capita for Nigeria (NYGDPPCAPKDNGA) from 1960 to 2024 about Nigeria, per capita, real, and GDP.

Manufacturing, value added (% of GDP) in Nigeria was reported at 13.51 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Nigeria - Manufacturing, value added (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Trade (% of GDP) in Nigeria was reported at 22.58 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. Nigeria - Trade (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

Nigeria NG: GDP: 2010 Price: USD data was reported at 460.496 USD bn in 2017. This records an increase from the previous number of 456.775 USD bn for 2016. Nigeria NG: GDP: 2010 Price: USD data is updated yearly, averaging 130.820 USD bn from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 464.282 USD bn in 2015 and a record low of 58.276 USD bn in 1968. Nigeria NG: GDP: 2010 Price: USD 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 at purchaser's prices 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 2010 U.S. dollars. Dollar figures for GDP are converted from domestic currencies using 2010 official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.; ; World Bank national accounts data, and OECD National Accounts data files.; Gap-filled total;

Nigeria NG: GDP: Real: per Capita data was reported at 362,580.398 NGN in 2017. This records a decrease from the previous number of 369,119.648 NGN for 2016. Nigeria NG: GDP: Real: per Capita data is updated yearly, averaging 220,631.372 NGN from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 385,227.620 NGN in 2014 and a record low of 163,696.259 NGN in 1968. Nigeria NG: GDP: Real: per Capita 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: Real. GDP per capita is gross domestic product divided by midyear population. GDP at purchaser's prices 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 local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

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.

Financial system deposits to GDP (%) in Nigeria was reported at 21.83 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. Nigeria - Financial system deposits to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Nigeria NG: GDP: Real: Exports of Goods and Services data was reported at 18,424,670.814 NGN mn in 2016. This records an increase from the previous number of 16,519,693.616 NGN mn for 2015. Nigeria NG: GDP: Real: Exports of Goods and Services data is updated yearly, averaging 5,551,143.853 NGN mn from Dec 1981 (Median) to 2016, with 36 observations. The data reached an all-time high of 18,424,670.814 NGN mn in 2016 and a record low of 3,537,367.419 NGN mn in 1983. Nigeria NG: GDP: Real: Exports of Goods and 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.WDI: Gross Domestic Product: Real. Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments. Data are in constant local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

Nigeria NG: GDP: Real: Net Current Transfer from Abroad data was reported at 2,841,511.640 NGN mn in 2012. This records a decrease from the previous number of 2,930,842.210 NGN mn for 2011. Nigeria NG: GDP: Real: Net Current Transfer from Abroad data is updated yearly, averaging 543,540.959 NGN mn from Dec 1981 (Median) to 2012, with 32 observations. The data reached an all-time high of 5,422,747.847 NGN mn in 2009 and a record low of -314,560.130 NGN mn in 1986. Nigeria NG: GDP: Real: Net Current Transfer from Abroad 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: Real. Current transfers comprise transfers of income between residents of the reporting country and the rest of the world that carry no provisions for repayment. Net current transfers from abroad is equal to the unrequited transfers of income from nonresidents to residents minus the unrequited transfers from residents to nonresidents. Data are in constant local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

GDP per capita (constant 2015 US$) in Nigeria was reported at 2416 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Nigeria - GDP per capita (constant 2000 US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

South Africa's GDP was estimated at just over 403 billion U.S. dollars in 2024, the highest in Africa. Egypt followed, with a GDP worth around 380 billion U.S. dollars, and ranked as the second-highest on the continent. Algeria ranked third, with about 260 billion U.S. dollars. These African economies are among some of the fastest-growing economies worldwide. Dependency on oil For some African countries, the oil industry represents an enormous source of income. In Nigeria, oil generates over five percent of the country’s GDP in the third quarter of 2023. However, economies such as the Libyan, Algerian, or Angolan are even much more dependent on the oil sector. In Libya, for instance, oil rents account for over 40 percent of the GDP. Indeed, Libya is one of the economies most dependent on oil worldwide. Similarly, oil represents for some of Africa’s largest economies a substantial source of export value. The giants do not make the ranking Most of Africa’s largest economies do not appear in the leading ten African countries for GDP per capita. The GDP per capita is calculated by dividing a country’s GDP by its population. Therefore, a populated country with a low total GDP will have a low GDP per capita, while a small rich nation has a high GDP per capita. For instance, South Africa has Africa’s highest GDP, but also counts the sixth-largest population, so wealth has to be divided into its big population. The GDP per capita also indicates how a country’s wealth reaches each of its citizens. In Africa, Seychelles has the greatest GDP per capita.

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;

Nigeria NG: GDP: Real: Gross Value Added at Basic Prices: Agriculture, Forestry, and Fishing data was reported at 19,306,490.277 NGN mn in 2023. This records an increase from the previous number of 19,091,072.816 NGN mn for 2022. Nigeria NG: GDP: Real: Gross Value Added at Basic Prices: Agriculture, Forestry, and Fishing data is updated yearly, averaging 7,817,084.495 NGN mn from Dec 1981 (Median) to 2023, with 43 observations. The data reached an all-time high of 19,306,490.277 NGN mn in 2023 and a record low of 2,303,505.416 NGN mn in 1984. Nigeria NG: GDP: Real: Gross Value Added at Basic Prices: 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: Real. Agriculture, forestry, and fishing corresponds to ISIC divisions 1-3 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. Data are in constant local currency.;World Bank national accounts data, and OECD National Accounts data files.;;Note: Data for OECD countries are based on ISIC, revision 4.

Total natural resources rents (% of GDP) in Nigeria was reported at 8.5529 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. Nigeria - Total natural resources rents (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

GDP per capita (current US$) in Nigeria was reported at 807 USD in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Nigeria - GDP per capita - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.