Adjusted savings: natural resources depletion in Nigeria
Nigeria: Adjusted savings: natural resources depletion was 2.7% in 2021. ◆ Volatile
Adjusted savings: natural resources depletion in Nigeria, 1970–2021
Source: Staff estimates, World Bank (WB). Measured in % of GNI.
Analysis
In 2021, adjusted savings: natural resources depletion in Nigeria stood at 2.7%.
Compared with earlier readings it is up 72.2% on the previous year and down 68.2% over ten years.
Over the whole period, adjusted savings: natural resources depletion in Nigeria peaked at 29.5% in 1979 and was at its lowest, 0.4%, in 1971.
Nigeria ranks 74th of 184 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Adjusted savings: natural resources depletion in Nigeria, year by year
| Year | % of GNI | Change |
|---|---|---|
| 1970 | 0.5% | — |
| 1971 | 0.4% | -10.5% |
| 1972 | 1.3% | +222.6% |
| 1973 | 2.2% | +64.7% |
| 1974 | 20.7% | +850.5% |
| 1975 | 12.7% | -38.8% |
| 1976 | 11.8% | -7.0% |
| 1977 | 14.6% | +23.3% |
| 1978 | 11.1% | -23.5% |
| 1979 | 29.5% | +164.5% |
| 1980 | 17.7% | -39.9% |
| 1981 | 2.3% | -86.9% |
| 1982 | 0.9% | -62.3% |
| 1983 | 2.5% | +188.7% |
| 1984 | 4.6% | +84.3% |
| 1985 | 5.7% | +22.0% |
| 1986 | 2.6% | -53.9% |
| 1987 | 5.3% | +103.2% |
| 1988 | 4.7% | -12.3% |
| 1989 | 13.7% | +193.5% |
| 1990 | 14.8% | +8.3% |
| 1991 | 9.4% | -36.5% |
| 1992 | 11.4% | +21.7% |
| 1993 | 19.3% | +68.6% |
| 1994 | 12.1% | -37.1% |
| 1995 | 10.4% | -14.0% |
| 1996 | 10.7% | +2.5% |
| 1997 | 9.3% | -13.2% |
| 1998 | 4.5% | -51.9% |
| 1999 | 5.2% | +16.5% |
| 2000 | 13.2% | +153.5% |
| 2001 | 8.4% | -36.5% |
| 2002 | 5.5% | -34.4% |
| 2003 | 6.6% | +20.8% |
| 2004 | 8.2% | +23.0% |
| 2005 | 10.2% | +25.4% |
| 2006 | 7.6% | -25.8% |
| 2007 | 7.0% | -8.4% |
| 2008 | 7.7% | +11.2% |
| 2009 | 4.4% | -43.4% |
| 2010 | 6.7% | +52.6% |
| 2011 | 8.6% | +29.1% |
| 2012 | 7.1% | -17.7% |
| 2013 | 5.2% | -27.2% |
| 2014 | 3.7% | -29.2% |
| 2015 | 1.5% | -59.3% |
| 2016 | 1.3% | -14.7% |
| 2017 | 2.6% | +105.6% |
| 2018 | 3.8% | +45.7% |
| 2019 | 3.3% | -13.6% |
| 2020 | 1.6% | -51.6% |
| 2021 | 2.7% | +72.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 10.5% | 0.4% | 29.5% | 10 |
| 1980s | 6.0% | 0.9% | 17.7% | 10 |
| 1990s | 10.7% | 4.5% | 19.3% | 10 |
| 2000s | 7.9% | 4.4% | 13.2% | 10 |
| 2010s | 4.4% | 1.3% | 8.6% | 10 |
| 2020s | 2.2% | 1.6% | 2.7% | 2 |
Countries ranked near Nigeria
More economy & growth data for Nigeria
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.04 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 3.32 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 1.19 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0041 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 5 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 4.01 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 148.16 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0138 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 16.86 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 13.91 % change on previous year (2025)
Frequently asked questions
- What is adjusted savings: natural resources depletion in Nigeria?
- Adjusted savings: natural resources depletion in Nigeria was 2.7% in 2021, according to Staff estimates, World Bank (WB).
- What is the highest adjusted savings: natural resources depletion recorded in Nigeria?
- The highest recorded value was 29.5% in 1979.
- What is the lowest adjusted savings: natural resources depletion recorded in Nigeria?
- The lowest recorded value was 0.4% in 1971.
- How does Nigeria rank for adjusted savings: natural resources depletion?
- Nigeria ranks 74th out of 184 countries with data for 2021.
- Is adjusted savings: natural resources depletion rising or falling in Nigeria?
- Over the last ten years it is down 68.2%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from Staff estimates, World Bank (WB), published as part of Adjusted savings: natural resources depletion (% of GNI). Statizoid updates them automatically from the source API.
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About this data
Natural resource depletion is the sum of net forest depletion, energy depletion, and mineral depletion. Net forest depletion is unit resource rents times the excess of roundwood harvest over natural growth. Energy depletion is the ratio of the value of the stock of energy resources to the remaining reserve lifetime (capped at 25 years). It covers coal, crude oil, and natural gas. Mineral depletion is the ratio of the value of the stock of mineral resources to the remaining reserve lifetime (capped at 25 years). It covers tin, gold, lead, zinc, iron, copper, nickel, silver, bauxite, and phosphate. This indicator is expressed as a percentage of Gross National Income (GNI) which is the total income earned by all residents within an economic territory during an accounting period. It is equal to gross domestic product plus earned income receivable from abroad minus earned income payable abroad.