Annual gdp growth in Nigeria
Nigeria: Annual gdp growth was 4.06 in 2024. ◆ Volatile
Annual gdp growth in Nigeria, 2000–2024
Source: Our World in Data.
Analysis
In 2024, annual gdp growth in Nigeria stood at 4.06.
Compared with earlier readings it is up 21.9% on the previous year and down 35.7% over ten years.
Over the whole period, annual gdp growth in Nigeria peaked at 15.33 in 2002 and was at its lowest, -6.37, in 2020.
That places Nigeria 69th out of 212 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 | 5.02 | — |
| 2001 | 5.92 | +17.9% |
| 2002 | 15.33 | +159.0% |
| 2003 | 7.35 | -52.1% |
| 2004 | 9.25 | +25.9% |
| 2005 | 6.44 | -30.4% |
| 2006 | 6.06 | -5.9% |
| 2007 | 6.59 | +8.7% |
| 2008 | 6.76 | +2.6% |
| 2009 | 8.04 | +18.9% |
| 2010 | 8.01 | -0.4% |
| 2011 | 5.31 | -33.7% |
| 2012 | 4.23 | -20.3% |
| 2013 | 6.67 | +57.7% |
| 2014 | 6.31 | -5.4% |
| 2015 | 2.65 | -58.0% |
| 2016 | -1.62 | -161.1% |
| 2017 | 0.81 | -150.0% |
| 2018 | 1.92 | +137.0% |
| 2019 | 2.21 | +15.1% |
| 2020 | -6.37 | -388.2% |
| 2021 | 1.11 | -117.4% |
| 2022 | 4.32 | +289.2% |
| 2023 | 3.33 | -22.9% |
| 2024 | 4.06 | +21.9% |
Nigeria compared with similar countries
- Nigeria's 4.06 is above the median for lower middle income countries, which is 3.8, 1.1× the median. (47 countries reporting)
- Nigeria's 4.06 is below the median for Sub-Saharan Africa, which is 4.18, 97% of the median. (48 countries reporting)
Biggest year-on-year movements
Years where Annual gdp growth in Nigeria changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2020 | -388.2% | 2.21 | -6.37 |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 7.68 | 5.02 | 15.33 | 10 |
| 2010s | 3.65 | -1.62 | 8.01 | 10 |
| 2020s | 1.29 | -6.37 | 4.32 | 5 |
Countries ranked near Nigeria
More economy & growth data for Nigeria
- Real gdp growth, annual growth rate 22.77 % change on previous year (2024)
- 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)
- SDRs holdings, US dollar, annual growth rate 3.99 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0148 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 18.13 units per person (2025)
- SDRs holdings, SDR, annual growth rate -0.9704 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0108 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 13.24 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate -17.26 % change on previous year (2025)
Frequently asked questions
- What is annual gdp growth in Nigeria?
- Annual gdp growth in Nigeria was 4.06 in 2024, according to Our World in Data.
- What is the highest annual gdp growth recorded in Nigeria?
- The highest recorded value was 15.33 in 2002.
- What is the lowest annual gdp growth recorded in Nigeria?
- The lowest recorded value was -6.37 in 2020.
- How does Nigeria rank for annual gdp growth?
- Nigeria ranks 69th out of 212 countries with data for 2024.
- Is annual gdp growth rising or falling in Nigeria?
- Over the last ten years it is down 35.7%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from Our World in Data, published as part of Annual gdp growth. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 25 observations, free to reuse under CC BY 4.0 (Our World in Data).