Gross domestic product (GDP), Current prices, Domestic currency in Nigeria
Nigeria: Gross domestic product (GDP), Current prices, Domestic currency was 1,058.01 trillion in 2031. ◆ Volatile
Gross domestic product (GDP), Current prices, Domestic currency in Nigeria, 1990–2031
Source: International Monetary Fund.
Analysis
Nigeria recorded 1,058.01 trillion for gross domestic product (gdp), current prices, domestic currency in 2031. That is the highest value across all 42 years on record.
That represents a change of up 14.0% on the previous year and up 334.9% over ten years.
Over the whole period, gross domestic product (gdp), current prices, domestic currency in Nigeria peaked at 1,058.01 trillion in 2031 and was at its lowest, 703.65 billion, in 1990.
Nigeria ranks 3rd of 26 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Gross domestic product (GDP), Current prices, Domestic currency in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 1990 | 703.65 billion | — |
| 1991 | 839.36 billion | +19.3% |
| 1992 | 1.28 trillion | +52.6% |
| 1993 | 1.77 trillion | +38.4% |
| 1994 | 2.48 trillion | +40.0% |
| 1995 | 4.08 trillion | +64.2% |
| 1996 | 5.32 trillion | +30.5% |
| 1997 | 5.79 trillion | +8.8% |
| 1998 | 6.46 trillion | +11.6% |
| 1999 | 7.47 trillion | +15.7% |
| 2000 | 9.71 trillion | +30.0% |
| 2001 | 11.45 trillion | +17.9% |
| 2002 | 15.96 trillion | +39.3% |
| 2003 | 18.73 trillion | +17.4% |
| 2004 | 24.39 trillion | +30.2% |
| 2005 | 31.36 trillion | +28.6% |
| 2006 | 40.36 trillion | +28.7% |
| 2007 | 46.46 trillion | +15.1% |
| 2008 | 55.14 trillion | +18.7% |
| 2009 | 62.36 trillion | +13.1% |
| 2010 | 78.11 trillion | +25.3% |
| 2011 | 89.72 trillion | +14.9% |
| 2012 | 102.23 trillion | +13.9% |
| 2013 | 114.08 trillion | +11.6% |
| 2014 | 126.93 trillion | +11.3% |
| 2015 | 134.03 trillion | +5.6% |
| 2016 | 144.45 trillion | +7.8% |
| 2017 | 161.80 trillion | +12.0% |
| 2018 | 181.78 trillion | +12.3% |
| 2019 | 205.09 trillion | +12.8% |
| 2020 | 213.64 trillion | +4.2% |
| 2021 | 243.30 trillion | +13.9% |
| 2022 | 274.23 trillion | +12.7% |
| 2023 | 314.02 trillion | +14.5% |
| 2024 | 372.83 trillion | +18.7% |
| 2025 | 441.54 trillion | +18.4% |
| 2026 | 529.30 trillion | +19.9% |
| 2027 | 617.76 trillion | +16.7% |
| 2028 | 710.34 trillion | +15.0% |
| 2029 | 813.18 trillion | +14.5% |
| 2030 | 928.15 trillion | +14.1% |
| 2031 | 1,058.01 trillion | +14.0% |
Nigeria compared with similar countries
- Nigeria's 1,058.01 trillion is above the median for lower middle income countries, which is 38.91 trillion, 27.2× the median. (5 countries reporting)
Biggest year-on-year movements
Years where Gross domestic product (GDP), Current prices, Domestic currency 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 | +64.2% | 2.48 trillion | 4.08 trillion |
| 1992 | +52.6% | 839.36 billion | 1.28 trillion |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 3.62 trillion | 703.65 billion | 7.47 trillion | 10 |
| 2000s | 31.59 trillion | 9.71 trillion | 62.36 trillion | 10 |
| 2010s | 133.82 trillion | 78.11 trillion | 205.09 trillion | 10 |
| 2020s | 453.01 trillion | 213.64 trillion | 813.18 trillion | 10 |
| 2030s | 993.08 trillion | 928.15 trillion | 1,058.01 trillion | 2 |
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)
- 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), current prices, domestic currency in Nigeria?
- Gross domestic product (gdp), current prices, domestic currency in Nigeria was 1,058.01 trillion in 2031, according to International Monetary Fund.
- What is the highest gross domestic product (gdp), current prices, domestic currency recorded in Nigeria?
- The highest recorded value was 1,058.01 trillion in 2031.
- What is the lowest gross domestic product (gdp), current prices, domestic currency recorded in Nigeria?
- The lowest recorded value was 703.65 billion in 1990.
- How does Nigeria rank for gross domestic product (gdp), current prices, domestic currency?
- Nigeria ranks 3rd out of 26 countries with data for 2031.
- Is gross domestic product (gdp), current prices, domestic currency rising or falling in Nigeria?
- Over the last ten years it is up 334.9%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from International Monetary Fund, published as part of Gross domestic product (GDP), Current prices, Domestic currency (9/26/2025). Statizoid updates them automatically from the source API.
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About this data
The World Economic Outlook (WEO) database is created during the biannual WEO exercise, which begins in January and June of each year and results in the April and September/October WEO publication. Selected series from the publication are available in a database format.