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 26th out of 209 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% |
Nigeria compared with similar countries
- Nigeria's 249.69 SLC is above the median for lower middle income countries, which is 154.79 SLC, 1.6× the median. (41 countries reporting)
- Nigeria's 249.69 SLC is above the median for Sub-Saharan Africa, which is 149.14 SLC, 1.7× the median. (44 countries reporting)
Biggest year-on-year movements
Years where GDP Deflator — Value Standard Local Currency, 2015 prices 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 |
|---|---|---|---|
| 1995 | +75.4% | 5.86 SLC | 10.28 SLC |
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)
- 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)
- IMF holdings of currency, US dollar, per unit of GDP 0.0107 units per US$ of GDP (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 26th out of 209 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.
Download this data
CSV · JSON — 55 observations, free to reuse under CC BY-NC-SA 3.0 IGO (FAO).
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).