Adjusted savings: net national savings in Nigeria
Nigeria: Adjusted savings: net national savings was 23.7% in 2021. ◆ Volatile
Adjusted savings: net national savings in Nigeria, 1981–2021
Source: Staff estimates, World Bank (WB). Measured in % of GNI.
Analysis
In 2021, adjusted savings: net national savings in Nigeria stood at 23.7%.
The figure is up 27.8% on the previous year and up 32.7% over ten years.
Over the whole period, adjusted savings: net national savings in Nigeria peaked at 77.3% in 1981 and was at its lowest, 6.9%, in 2016.
Nigeria ranks 21st of 177 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Adjusted savings: net national savings in Nigeria, year by year
| Year | % of GNI | Change |
|---|---|---|
| 1981 | 77.3% | — |
| 1982 | 74.8% | -3.3% |
| 1983 | 66.3% | -11.4% |
| 1984 | 52.1% | -21.4% |
| 1985 | 39.1% | -25.0% |
| 1986 | 44.7% | +14.4% |
| 1987 | 44.6% | -0.2% |
| 1988 | 39.6% | -11.1% |
| 1989 | 59.3% | +49.6% |
| 1990 | 54.1% | -8.7% |
| 1991 | 50.9% | -5.9% |
| 1992 | 44.4% | -12.9% |
| 1993 | 41.7% | -6.1% |
| 1994 | 35.6% | -14.4% |
| 1995 | 35.7% | +0.3% |
| 1996 | 32.7% | -8.6% |
| 1997 | 35.2% | +7.9% |
| 1998 | 27.2% | -22.7% |
| 1999 | 39.9% | +46.4% |
| 2000 | 48.1% | +20.7% |
| 2001 | 28.7% | -40.4% |
| 2002 | 24.0% | -16.2% |
| 2003 | 22.1% | -8.0% |
| 2004 | 25.1% | +13.4% |
| 2005 | 32.1% | +28.3% |
| 2006 | 43.6% | +35.7% |
| 2007 | 20.2% | -53.6% |
| 2008 | 26.0% | +28.6% |
| 2009 | 18.8% | -27.8% |
| 2010 | 16.8% | -10.4% |
| 2011 | 17.8% | +6.1% |
| 2012 | 26.0% | +45.4% |
| 2013 | 11.1% | -57.3% |
| 2014 | 13.8% | +24.9% |
| 2015 | 7.9% | -42.8% |
| 2016 | 6.9% | -12.5% |
| 2017 | 9.7% | +40.3% |
| 2018 | 10.2% | +5.4% |
| 2019 | 13.0% | +27.4% |
| 2020 | 18.5% | +42.1% |
| 2021 | 23.7% | +27.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 55.3% | 39.1% | 77.3% | 9 |
| 1990s | 39.8% | 27.2% | 54.1% | 10 |
| 2000s | 28.9% | 18.8% | 48.1% | 10 |
| 2010s | 13.3% | 6.9% | 26.0% | 10 |
| 2020s | 21.1% | 18.5% | 23.7% | 2 |
Countries ranked near Nigeria
- 18 Sri Lanka 25.3% compare
- 19 Azerbaijan 24.9% compare
- 20 Tanzania, United Republic of 24.7% compare
- 22 Macau, China 22.8% compare
- 23 Iran, Islamic Republic of 22.7% compare
- 24 Gabon 22.5% compare
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)
- Total reserves minus gold (current US$), annual growth rate 11.4 % change on previous year (2025)
- Total reserves minus gold (current US$), per unit of GDP 0.1479 current US$ per US$ of GDP (2025)
- Total reserves minus gold (current US$), per capita 181.09 current US$ per person (2025)
- Agriculture, forestry, and fishing, value added (current LCU), annual 5.18 % change on previous year (2025)
- Agriculture, forestry, and fishing, value added (current LCU), per 348.91 current LCU per US$ of GDP (2025)
- Agriculture, forestry, and fishing, value added (current LCU), per 427,154 current LCU per person (2025)
- Agriculture, forestry, and fishing, value added (constant 2015 US$) 2.92 % change on previous year (2025)
- Agriculture, forestry, and fishing, value added (constant 2015 US$) 0.4555 constant 2015 US$ per US$ of GDP (2025)
Frequently asked questions
- What is adjusted savings: net national savings in Nigeria?
- Adjusted savings: net national savings in Nigeria was 23.7% in 2021, according to Staff estimates, World Bank (WB).
- What is the highest adjusted savings: net national savings recorded in Nigeria?
- The highest recorded value was 77.3% in 1981.
- What is the lowest adjusted savings: net national savings recorded in Nigeria?
- The lowest recorded value was 6.9% in 2016.
- How does Nigeria rank for adjusted savings: net national savings?
- Nigeria ranks 21st out of 177 countries with data for 2021.
- Is adjusted savings: net national savings rising or falling in Nigeria?
- Over the last ten years it is up 32.7%. 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: net national savings (% of GNI). Statizoid updates them automatically from the source API.
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About this data
Net national savings are equal to gross national savings less the value of consumption of fixed capital. 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.