GDP Deflator — Value Standard Local Currency, 2015 prices in Nigeria
Nigeria: GDP Deflator — Value Standard Local Currency, 2015 prices was 249.69 SLC in 2024. ◆ Volatile
GDP Deflator — Value Standard Local Currency, 2015 prices in Nigeria, 1970–2024
Source: Food and Agriculture Organization of the United Nations. Measured in SLC.
Analysis
The most recent figure for gdp deflator — value standard local currency, 2015 prices in Nigeria is 249.69 SLC, measured in 2024. That is the highest value across all 55 years on record.
The figure is up 14.5% on the previous year and up 156.5% over ten years.
Over the whole period, gdp deflator — value standard local currency, 2015 prices in Nigeria peaked at 249.69 SLC in 2024 and was at its lowest, 0.124 SLC, in 1970.
That places Nigeria 21st out of 194 countries with data for 2024, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
GDP Deflator — Value Standard Local Currency, 2015 prices in Nigeria, year by year
| Year | SLC | Change |
|---|---|---|
| 1970 | 0.124 SLC | — |
| 1971 | 0.1256 SLC | +1.3% |
| 1972 | 0.1315 SLC | +4.7% |
| 1973 | 0.1424 SLC | +8.3% |
| 1974 | 0.1994 SLC | +40.0% |
| 1975 | 0.2459 SLC | +23.3% |
| 1976 | 0.2851 SLC | +15.9% |
| 1977 | 0.3153 SLC | +10.6% |
| 1978 | 0.357 SLC | +13.2% |
| 1979 | 0.4224 SLC | +18.3% |
| 1980 | 0.4853 SLC | +14.9% |
| 1981 | 0.5116 SLC | +5.4% |
| 1982 | 0.5874 SLC | +14.8% |
| 1983 | 0.7023 SLC | +19.6% |
| 1984 | 0.742 SLC | +5.7% |
| 1985 | 0.7934 SLC | +6.9% |
| 1986 | 0.8364 SLC | +5.4% |
| 1987 | 1 SLC | +19.7% |
| 1988 | 1.2 SLC | +20.2% |
| 1989 | 1.55 SLC | +29.0% |
| 1990 | 1.65 SLC | +6.7% |
| 1991 | 1.97 SLC | +18.9% |
| 1992 | 2.89 SLC | +46.8% |
| 1993 | 4.09 SLC | +41.6% |
| 1994 | 5.86 SLC | +43.3% |
| 1995 | 10.28 SLC | +75.4% |
| 1996 | 13 SLC | +26.5% |
| 1997 | 13.66 SLC | +5.1% |
| 1998 | 14.48 SLC | +6.0% |
| 1999 | 16.42 SLC | +13.4% |
| 2000 | 20.14 SLC | +22.7% |
| 2001 | 22.17 SLC | +10.1% |
| 2002 | 26.85 SLC | +21.1% |
| 2003 | 29.49 SLC | +9.8% |
| 2004 | 36.08 SLC | +22.4% |
| 2005 | 43.25 SLC | +19.9% |
| 2006 | 53.57 SLC | +23.9% |
| 2007 | 57.37 SLC | +7.1% |
| 2008 | 61.92 SLC | +7.9% |
| 2009 | 62.34 SLC | +0.7% |
| 2010 | 73.65 SLC | +18.1% |
| 2011 | 80.34 SLC | +9.1% |
| 2012 | 87.85 SLC | +9.3% |
| 2013 | 92.93 SLC | +5.8% |
| 2014 | 97.34 SLC | +4.7% |
| 2015 | 100 SLC | +2.7% |
| 2016 | 108.37 SLC | +8.4% |
| 2017 | 120.42 SLC | +11.1% |
| 2018 | 132.73 SLC | +10.2% |
| 2019 | 146.52 SLC | +10.4% |
| 2020 | 158.02 SLC | +7.8% |
| 2021 | 174.03 SLC | +10.1% |
| 2022 | 193.71 SLC | +11.3% |
| 2023 | 218.16 SLC | +12.6% |
| 2024 | 249.69 SLC | +14.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 0.2349 SLC | 0.124 SLC | 0.4224 SLC | 10 |
| 1980s | 0.8414 SLC | 0.4853 SLC | 1.55 SLC | 10 |
| 1990s | 8.43 SLC | 1.65 SLC | 16.42 SLC | 10 |
| 2000s | 41.32 SLC | 20.14 SLC | 62.34 SLC | 10 |
| 2010s | 104.01 SLC | 73.65 SLC | 146.52 SLC | 10 |
| 2020s | 198.72 SLC | 158.02 SLC | 249.69 SLC | 5 |
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)
- 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 gdp deflator — value standard local currency, 2015 prices in Nigeria?
- Gdp deflator — value standard local currency, 2015 prices in Nigeria was 249.69 SLC in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gdp deflator — value standard local currency, 2015 prices recorded in Nigeria?
- The highest recorded value was 249.69 SLC in 2024.
- What is the lowest gdp deflator — value standard local currency, 2015 prices recorded in Nigeria?
- The lowest recorded value was 0.124 SLC in 1970.
- How does Nigeria rank for gdp deflator — value standard local currency, 2015 prices?
- Nigeria ranks 21st out of 194 countries with data for 2024.
- Is gdp deflator — value standard local currency, 2015 prices rising or falling in Nigeria?
- Over the last ten years it is up 156.5%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of GDP Deflator — Value Standard Local Currency, 2015 prices. Statizoid updates them automatically from the source API.
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About this data
The FAOSTAT Deflators database provides the following selection of price deflator series by country and at regional level: Gross Domestic Product deflator, Gross Fixed Capital Formation deflator, Manufacturing Value-Added deflator, and Agriculture, Forestry, Fishery Valued-Added deflator. In the FAOSTAT Deflators database, all series are derived from the United Nations Statistics Division (UNSD) National Accounts Analysis of Main Aggregates database (UNSD AMA). In particular, the implicit Gross Domestic Product deflator, the implicit Gross Fixed Capital Formation deflator, the implicit value added deflator of Agriculture, Forestry, Fishery and the implicit value added deflator of Manufacturing are obtained by dividing the series in current prices by those in constant 2015 prices (base year).