Annual GDP growth in Nigeria
Nigeria: Annual GDP growth was 4.1% in 2024. ◆ Volatile
Annual GDP growth in Nigeria, 2000–2024
Source: United Nations Statistics Division, SDG Global Database.
Analysis
The most recent figure for annual gdp growth in Nigeria is 4.1%, measured in 2024.
That represents a change of up 22.1% on the previous year and down 35.6% over ten years.
Over the whole period, annual gdp growth in Nigeria peaked at 15.3% in 2002 and was at its lowest, -6.4%, in 2020.
That places Nigeria 62nd out of 196 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Annual GDP growth in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 2000 | 5.0% | — |
| 2001 | 5.9% | +18.0% |
| 2002 | 15.3% | +159.0% |
| 2003 | 7.3% | -52.1% |
| 2004 | 9.3% | +25.9% |
| 2005 | 6.4% | -30.4% |
| 2006 | 6.1% | -5.9% |
| 2007 | 6.6% | +8.8% |
| 2008 | 6.8% | +2.6% |
| 2009 | 8.0% | +18.8% |
| 2010 | 8.0% | -0.4% |
| 2011 | 5.3% | -33.7% |
| 2012 | 4.2% | -20.3% |
| 2013 | 6.7% | +57.7% |
| 2014 | 6.3% | -5.4% |
| 2015 | 2.7% | -58.0% |
| 2016 | -1.6% | -161.0% |
| 2017 | 0.8% | -149.8% |
| 2018 | 1.9% | +138.6% |
| 2019 | 2.2% | +14.9% |
| 2020 | -6.4% | -388.4% |
| 2021 | 1.1% | -117.4% |
| 2022 | 4.3% | +289.3% |
| 2023 | 3.3% | -23.0% |
| 2024 | 4.1% | +22.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 7.7% | 5.0% | 15.3% | 10 |
| 2010s | 3.6% | -1.6% | 8.0% | 10 |
| 2020s | 1.3% | -6.4% | 4.3% | 5 |
Countries ranked near Nigeria
- 59 Burundi 4.1% compare
- 60 Somalia 4.1% compare
- 61 Azerbaijan 4.1% compare
- 63 Saint Vincent and the Grenadines 4.1% compare
- 64 Brunei Darussalam 4.1% compare
- 65 Albania 4.0% 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)
- GNI (current LCU), annual growth rate 17.36 % change on previous year (2025)
- GNI (current LCU), per unit of GDP 1,471 current LCU per US$ of GDP (2025)
- GNI (current LCU), per capita 1.80 million current LCU per person (2025)
- Net primary income (Net income from abroad) (current US$), annual -60.89 % change on previous year (2025)
- Net primary income (Net income from abroad) (current LCU), annual -65.3 % change on previous year (2025)
- Taxes less subsidies on products (current US$), annual growth rate 22.87 % change on previous year (2025)
- Taxes less subsidies on products (current US$), per unit of GDP 0.0235 current US$ per US$ of GDP (2025)
- Taxes less subsidies on products (current US$), per capita 28.71 current US$ per person (2025)
Frequently asked questions
- What is annual gdp growth in Nigeria?
- Annual gdp growth in Nigeria was 4.1% in 2024, according to United Nations Statistics Division, SDG Global Database.
- What is the highest annual gdp growth recorded in Nigeria?
- The highest recorded value was 15.3% in 2002.
- What is the lowest annual gdp growth recorded in Nigeria?
- The lowest recorded value was -6.4% in 2020.
- How does Nigeria rank for annual gdp growth?
- Nigeria ranks 62nd out of 196 countries with data for 2024.
- Is annual gdp growth rising or falling in Nigeria?
- Over the last ten years it is down 35.6%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from United Nations Statistics Division, SDG Global Database, published as part of Annual GDP growth (%). Statizoid updates them automatically from the source API.
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