In the second quarter of 2023, the agricultural sector generated about ** percent of Nigeria's GDP. Other key activities for the country's economy were manufacturing, trade, mining and quarrying, and telecommunication. Moreover, around ***** percent of Nigeria's GDP was covered by the mining and quarrying sector. In particular, the largest contribution was from crude oil and natural gas. Nigeria is one of the key oil-producing countries and largest exporters in the world. Indeed, the country has one of the main oil reserves in the world.

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 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.

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.

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.

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.

GDP Growth Oil Sector in Nigeria decreased to 5.17 percent in the third quarter of 2024 from 10.15 percent in the second quarter of 2024. This dataset includes a chart with historical data for Nigeria GDP Growth Oil Sector.

Market capitalization (% of GDP) of Nigeria sank by 43.06% from 33.6 % in 2021 to 19.2 % in 2022. Since the 41.41% jump in 2020, market capitalization (% of GDP) soared by 46.34% in 2022. Market capitalization (also known as market value) is the share price times the number of shares outstanding. Listed domestic companies are the domestically incorporated companies listed on the country's stock exchanges at the end of the year. Listed companies does not include investment companies, mutual funds, or other collective investment vehicles.

In the third quarter of 2024, the largest contribution to Nigeria's GDP from the mining and quarrying sector was given by crude oil and natural gas, which covered around *** percent of the GDP. Nigeria is one of the key oil-producing countries and largest exporters in the world. Indeed, Nigeria has one of the main oil reserves worldwide.

Nigeria manufacturing output for 2023 was 55.90 billion US dollars, a 13.86% decline from 2022.

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

<li>Nigeria manufacturing output for 2022 was <strong>64.90 billion US dollars</strong>, a <strong>0.76% increase</strong> from 2021.</li>
<li>Nigeria manufacturing output for 2021 was <strong>64.41 billion US dollars</strong>, a <strong>17.65% increase</strong> from 2020.</li>
<li>Nigeria manufacturing output for 2020 was <strong>54.75 billion US dollars</strong>, a <strong>0.13% increase</strong> from 2019.</li>
</ul>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. Data are in current U.S. dollars.

GDP Growth Non Oil Sector in Nigeria increased to 3.37 percent in the third quarter of 2024 from 2.80 percent in the second quarter of 2024. This dataset includes a chart with historical data for Nigeria GDP Growth Non Oil Sector.

The Report Covers Nigeria's Oil and Gas Market Size & Share and It is Segmented by Sector (Upstream, Midstream, and Downstream). The Report Offers the Size and Forecasts for the Oil and Gas Markets in Production Volume for all the Above Segments.

In the second quarter of 2022, the sector of arts, entertainment, and recreation accounted for 0.21 percent of Nigeria's GDP. The industry's participation declined compared to the second quarter of 2021, when it reached 0.3 percent.

GDP from Construction in Nigeria increased to 778695.90 NGN Million in the fourth quarter of 2024 from 672885.38 NGN Million in the third quarter of 2024. This dataset provides the latest reported value for - Nigeria Gdp From Construction - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

This horizontal bar chart displays environmental score (ESG) (/ 100) by industry using the aggregation average in Nigeria. The data is about companies.

The Nigeria Freight And Logistics Market report segments the industry into End User Industry (Agriculture, Fishing, And Forestry, Construction, Manufacturing, Oil And Gas, Mining And Quarrying, Wholesale And Retail Trade, Others) and Logistics Function (Courier, Express, And Parcel (CEP), Freight Forwarding, Freight Transport, Warehousing And Storage, Other Services). The report covers market value and volume analysis, and more.

GDP from Services in Nigeria increased to 12974640.87 NGN Million in the fourth quarter of 2024 from 10777518.06 NGN Million in the third quarter of 2024. This dataset provides the latest reported value for - Nigeria Gdp From Services - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In the second quarter of 2023, the largest contribution for the Nigerian gross domestic production (GDP) from the manufacturing sector was from the food, beverage, and tobacco sector, which accounted for nearly 4.5 percent of the GDP that year. Textile and cement sectors were other main contributors to the manufacturing sector, with shares of 1.5 percent and 0.8 percent, respectively.

The size of the Nigeria Food Service Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 15.01% during the forecast period. The Nigerian food service industry pertains to the manufacturing and distribution of food and drinks in different establishments like cafes, bars, cloud kitchens, fine dining restaurants, and fast food restaurants. The market is seeing substantial growth due to the rise in dining out and the expansion of fast-food chains, both local and global. Prominent companies such as Chicken Republic and Domino's Pizza control the market with wide-ranging product offerings and robust distribution channels. The dynamic market landscape is influenced by the growing popularity of quick-service restaurants, cloud kitchens, traditional, and local cuisines. Despite facing obstacles like unstable prices of raw materials and costly operations, the market remains optimistic due to continual advancements and the growing popularity of food delivery services. This path underscores the important part of the food service sector in Nigeria's social and economic structure and its possibility for ongoing market expansion. Recent developments include: December 2022: Jumia Food, the leading online food delivery platform in Nigeria, partnered with Domino’s Pizza, a world-leading pizza brand, to offer consumers access to meals from the comfort of their homes. The partnership will provide a steady supply of Domino’s portfolio to consumers through the Jumia Food platform and ensure they receive their orders in a short time.April 2022: Sundry Foods Limited opened five new outlets in Lagos, Abuja, and Port Harcourt across the country. The new outlets include three brands: Kilimanjaro, Pizza Jungle, and Kiligrill.October 2021: Food Concepts, a leading quick service restaurant (QSR) operator in West Africa, opened its 200th store in the region. The fast-food chain operates stores across Nigeria and Ghana, trading under the Chicken Republic, PieXpress, and Chop Box brands.. Key drivers for this market are: Convenience Offered By Online Food Delivery Services, Attractive Offers And Memberships Along With Advertisements And Marketing By Players. Potential restraints include: Consumers Desire For Fine Dining Experience. Notable trends are: Increased tourist arrivals from Asia led to great exposure to diverse Asian cuisines.

The Nigerian e-commerce market, valued at $8.53 billion in 2025, is experiencing robust growth, projected to expand at a Compound Annual Growth Rate (CAGR) of 11.82% from 2025 to 2033. This expansion is fueled by increasing internet and smartphone penetration, a burgeoning young population eager to embrace digital technologies, and a growing preference for convenience and wider product selection offered by online platforms. Key drivers include improved logistics infrastructure, the rise of mobile money and digital payment systems, and government initiatives to support digital economy growth. Trends such as the increasing adoption of social commerce, the growth of online marketplaces, and the expansion of e-commerce into previously underserved regions are further propelling market expansion. However, challenges remain, including concerns about internet accessibility in some areas, limited digital literacy among certain demographics, and the need for further development in secure payment gateways and robust consumer protection policies. The market is segmented by B2C and B2B e-commerce, with B2C dominating due to the high consumer demand. Popular application categories include beauty and personal care, fashion and apparel, consumer electronics, food and beverage, and furniture and home goods. Leading players like Jumia, SLOT Systems, and Ajebomarket are actively shaping the market landscape through their diverse offerings and strategic partnerships. The projected growth trajectory signifies significant opportunities for both established and emerging players. Strategic investments in logistics, technology, and marketing are crucial for success. Furthermore, collaborations with local businesses and focus on addressing consumer trust and security concerns will be vital in further unlocking the market's vast potential. While challenges exist, the positive market outlook points towards a significant increase in e-commerce transactions and market value throughout the forecast period, cementing Nigeria’s position as a key player in the African e-commerce landscape. The expansion into diverse product categories, including those addressing specific local needs, will further fuel growth. Recent developments include: June 2024: GBLagos Art and Lifestyle, a Nigerian startup, unveiled ekoartmarket.com, an e-commerce platform to globalize African art. The company views this move as a pivotal step in its quest to democratize African art and uplift local artisans., February 2024: Zandaux, a B2B platform, expanded its reach by launching an e-commerce marketplace in Nigeria and Kenya. Embracing a "one Africa, one market" ethos, Zandaux empowers businesses and merchants from diverse sectors to reach customers across the continent.. Key drivers for this market are: Adoption of Online Mode of Payments, Growing Penetration of Internet. Potential restraints include: Adoption of Online Mode of Payments, Growing Penetration of Internet. Notable trends are: Growing Penetration of Internet is Expected to Drive the Market.