External debt as a share of gni in Nigeria
Nigeria: External debt as a share of gni was 29.04 in 2023. ▲ Rising
Latest (2023)
29.04
Change on year
up 30.9%
World rank
92nd
of 118 countries
All-time high
29.04
in 2023
All-time low
6.3
in 2008
Years of data
16
2008–2023
External debt as a share of gni in Nigeria, 2008–2023
Source: Our World in Data.
Analysis
In 2023, external debt as a share of gni in Nigeria stood at 29.04. That is the highest value across all 16 years on record.
The figure is up 30.9% on the previous year and up 236.9% over ten years.
Over the whole period, external debt as a share of gni in Nigeria peaked at 29.04 in 2023 and was at its lowest, 6.3, in 2008.
That places Nigeria 92nd out of 118 countries with data for 2023, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 16 years of available data.
External debt as a share of gni in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 2008 | 6.3 | — |
| 2009 | 8.11 | +28.7% |
| 2010 | 8.39 | +3.5% |
| 2011 | 8.72 | +3.9% |
| 2012 | 8.89 | +1.9% |
| 2013 | 8.62 | -3.0% |
| 2014 | 8.41 | -2.4% |
| 2015 | 9.37 | +11.4% |
| 2016 | 10.98 | +17.2% |
| 2017 | 17.73 | +61.5% |
| 2018 | 16.92 | -4.6% |
| 2019 | 17.49 | +3.4% |
| 2020 | 20.51 | +17.3% |
| 2021 | 22.28 | +8.6% |
| 2022 | 22.19 | -0.4% |
| 2023 | 29.04 | +30.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 7.21 | 6.3 | 8.11 | 2 |
| 2010s | 11.55 | 8.39 | 17.73 | 10 |
| 2020s | 23.51 | 20.51 | 29.04 | 4 |
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)
- GDP (constant 2015 US$), annual growth rate 4.01 % change on previous year (2025)
- GDP (constant 2015 US$), per unit of GDP 1.93 constant 2015 US$ per US$ of GDP (2025)
- GDP (constant 2015 US$), per capita 2,369 constant 2015 US$ per person (2025)
- GDP (constant LCU), annual growth rate 4.01 % change on previous year (2025)
- GDP (constant LCU), per unit of GDP 778.97 constant LCU per US$ of GDP (2025)
- GDP (constant LCU), per capita 953,652 constant LCU per person (2025)
- GNI, Atlas method (current US$), annual growth rate -18.64 % change on previous year (2025)
- GNI, Atlas method (current US$), per unit of GDP 1.11 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is external debt as a share of gni in Nigeria?
- External debt as a share of gni in Nigeria was 29.04 in 2023, according to Our World in Data.
- What is the highest external debt as a share of gni recorded in Nigeria?
- The highest recorded value was 29.04 in 2023.
- What is the lowest external debt as a share of gni recorded in Nigeria?
- The lowest recorded value was 6.3 in 2008.
- How does Nigeria rank for external debt as a share of gni?
- Nigeria ranks 92nd out of 118 countries with data for 2023.
- Is external debt as a share of gni rising or falling in Nigeria?
- Over the last ten years it is up 236.9%. The long-run trend across the full record is rising.
- Where does this Nigeria data come from?
- The figures come from Our World in Data, published as part of External debt as a share of gni. Statizoid updates them automatically from the source API.
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