Gross domestic product (GDP), annual growth rate in Nigeria
Nigeria: Gross domestic product (GDP), annual growth rate was -1.03 % change on previous year in 2023. ◆ Volatile
Gross domestic product (GDP), annual growth rate in Nigeria, 1951–2023
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
The most recent figure for gross domestic product (gdp), annual growth rate in Nigeria is -1.03 % change on previous year, measured in 2023.
The figure is up 60.8% on the previous year and down 113.6% over ten years.
Over the whole period, gross domestic product (gdp), annual growth rate in Nigeria peaked at 64.55 % change on previous year in 2005 and was at its lowest, -13.41 % change on previous year, in 1967.
That places Nigeria 151st out of 184 countries with data for 2023, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross domestic product (GDP), annual growth rate in Nigeria, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1951 | 0.3595 % change on previous year | — |
| 1952 | 0.4636 % change on previous year | +29.0% |
| 1953 | 4.62 % change on previous year | +895.4% |
| 1954 | 11.16 % change on previous year | +141.8% |
| 1955 | -2.35 % change on previous year | -121.1% |
| 1956 | -3.96 % change on previous year | +68.4% |
| 1957 | -1.3 % change on previous year | -67.1% |
| 1958 | 6.05 % change on previous year | -564.3% |
| 1959 | 10.47 % change on previous year | +73.1% |
| 1960 | 13.65 % change on previous year | +30.4% |
| 1961 | 5.19 % change on previous year | -62.0% |
| 1962 | 5.54 % change on previous year | +6.8% |
| 1963 | 5.49 % change on previous year | -0.9% |
| 1964 | -0.0955 % change on previous year | -101.7% |
| 1965 | 12.66 % change on previous year | -13358.8% |
| 1966 | 0.5156 % change on previous year | -95.9% |
| 1967 | -13.41 % change on previous year | -2700.3% |
| 1968 | 0.3382 % change on previous year | -102.5% |
| 1969 | 24.03 % change on previous year | +7004.2% |
| 1970 | 35.11 % change on previous year | +46.1% |
| 1971 | 10.75 % change on previous year | -69.4% |
| 1972 | 6.99 % change on previous year | -35.0% |
| 1973 | 19.23 % change on previous year | +175.2% |
| 1974 | 9.64 % change on previous year | -49.8% |
| 1975 | 1.59 % change on previous year | -83.5% |
| 1976 | 5.24 % change on previous year | +228.3% |
| 1977 | 11.41 % change on previous year | +118.0% |
| 1978 | 4.03 % change on previous year | -64.7% |
| 1979 | 4.35 % change on previous year | +7.9% |
| 1980 | 7.93 % change on previous year | +82.3% |
| 1981 | -2.65 % change on previous year | -133.4% |
| 1982 | -10.47 % change on previous year | +295.6% |
| 2000 | 36.39 % change on previous year | -447.5% |
| 2001 | 9 % change on previous year | -75.3% |
| 2002 | 29.69 % change on previous year | +229.9% |
| 2003 | 33.59 % change on previous year | +13.1% |
| 2004 | 35.24 % change on previous year | +4.9% |
| 2005 | 64.55 % change on previous year | +83.2% |
| 2006 | 17.49 % change on previous year | -72.9% |
| 2007 | 11.09 % change on previous year | -36.6% |
| 2008 | 3.64 % change on previous year | -67.2% |
| 2009 | 6.48 % change on previous year | +78.1% |
| 2010 | 19.39 % change on previous year | +199.2% |
| 2011 | 5.84 % change on previous year | -69.9% |
| 2012 | 4.55 % change on previous year | -22.0% |
| 2013 | 7.58 % change on previous year | +66.4% |
| 2014 | 6.98 % change on previous year | -7.8% |
| 2015 | 0.3084 % change on previous year | -95.6% |
| 2016 | -3.08 % change on previous year | -1099.4% |
| 2017 | -2.33 % change on previous year | -24.5% |
| 2018 | 1.54 % change on previous year | -166.2% |
| 2019 | 7.15 % change on previous year | +364.6% |
| 2020 | 0.4833 % change on previous year | -93.2% |
| 2021 | -7.32 % change on previous year | -1614.7% |
| 2022 | -2.62 % change on previous year | -64.1% |
| 2023 | -1.03 % change on previous year | -60.8% |
Biggest year-on-year movements
Years where Gross domestic product (GDP), annual growth rate 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 |
|---|---|---|---|
| 1965 | +13358.8% | -0.0955 % change on previous year | 12.66 % change on previous year |
| 1969 | +7004.2% | 0.3382 % change on previous year | 24.03 % change on previous year |
| 1967 | -2700.3% | 0.5156 % change on previous year | -13.41 % change on previous year |
| 2021 | -1614.7% | 0.4833 % change on previous year | -7.32 % change on previous year |
| 2016 | -1099.4% | 0.3084 % change on previous year | -3.08 % change on previous year |
| 1953 | +895.4% | 0.4636 % change on previous year | 4.62 % change on previous year |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1950s | 2.83 % change on previous year | -3.96 % change on previous year | 11.16 % change on previous year | 9 |
| 1960s | 5.39 % change on previous year | -13.41 % change on previous year | 24.03 % change on previous year | 10 |
| 1970s | 10.83 % change on previous year | 1.59 % change on previous year | 35.11 % change on previous year | 10 |
| 1980s | -1.73 % change on previous year | -10.47 % change on previous year | 7.93 % change on previous year | 3 |
| 2000s | 24.71 % change on previous year | 3.64 % change on previous year | 64.55 % change on previous year | 10 |
| 2010s | 4.79 % change on previous year | -3.08 % change on previous year | 19.39 % change on previous year | 10 |
| 2020s | -2.62 % change on previous year | -7.32 % change on previous year | 0.4833 % change on previous year | 4 |
Countries ranked near Nigeria
- 148 Peru -0.6187 % change on previous year compare
- 149 Hungary -0.7765 % change on previous year compare
- 150 Anguilla -0.8158 % change on previous year compare
- 152 Iraq -1.09 % change on previous year compare
- 153 Argentina -1.12 % change on previous year compare
- 154 Uruguay -1.14 % change on previous year 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)
- Foreign direct investment, net outflows (BoP, current US$), gaps 1.19 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0041 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 5 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 4.01 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 148.16 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0138 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 16.86 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 13.91 % change on previous year (2025)
Frequently asked questions
- What is gross domestic product (gdp), annual growth rate in Nigeria?
- Gross domestic product (gdp), annual growth rate in Nigeria was -1.03 % change on previous year in 2023, according to Statizoid (derived).
- What is the highest gross domestic product (gdp), annual growth rate recorded in Nigeria?
- The highest recorded value was 64.55 % change on previous year in 2005.
- What is the lowest gross domestic product (gdp), annual growth rate recorded in Nigeria?
- The lowest recorded value was -13.41 % change on previous year in 1967.
- How does Nigeria rank for gross domestic product (gdp), annual growth rate?
- Nigeria ranks 151st out of 184 countries with data for 2023.
- Is gross domestic product (gdp), annual growth rate rising or falling in Nigeria?
- Over the last ten years it is down 113.6%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from Statizoid (derived), published as part of Gross domestic product (GDP), annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 56 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
The year-on-year percentage change in Gross domestic product (GDP). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Gross domestic product (GDP) Feenstra et al. – Penn World Table (2025) – with major processing by Our World in Data
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
The year-on-year percentage change in Gross domestic product (GDP). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.