Gross Domestic Product: Value Standard … Gross annual growth rate in Nigeria
Nigeria: Gross Domestic Product: Value Standard … Gross annual growth rate was 18.37 % change on previous year in 2024. ◆ Volatile
Latest (2024)
18.37 % change on previous year
Change on year
up 16.0%
World rank
25th
of 218 countries
All-time high
75.27 % change on previous year
in 1995
All-time low
4.47 % change on previous year
in 1984
Years of data
54
1971–2024
Gross Domestic Product — Value Standard Local Currency, annual growth in Nigeria, 1971–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
The most recent figure for gross domestic product — value standard local currency, annual growth in Nigeria is 18.37 % change on previous year, measured in 2024.
That represents a change of up 16.0% on the previous year and up 61.8% over ten years.
Over the whole period, gross domestic product — value standard local currency, annual growth in Nigeria peaked at 75.27 % change on previous year in 1995 and was at its lowest, 4.47 % change on previous year, in 1984.
Nigeria ranks 25th of 218 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross Domestic Product: Value Standard … Gross annual growth rate in Nigeria, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1971 | 15.78 % change on previous year | — |
| 1972 | 12.23 % change on previous year | -22.5% |
| 1973 | 14.89 % change on previous year | +21.8% |
| 1974 | 55.12 % change on previous year | +270.1% |
| 1975 | 24.18 % change on previous year | -56.1% |
| 1976 | 24.18 % change on previous year | -0.0% |
| 1977 | 19.72 % change on previous year | -18.4% |
| 1978 | 9.95 % change on previous year | -49.5% |
| 1979 | 15.06 % change on previous year | +51.2% |
| 1980 | 17.43 % change on previous year | +15.8% |
| 1981 | 4.48 % change on previous year | -74.3% |
| 1982 | 6.99 % change on previous year | +56.0% |
| 1983 | 6.51 % change on previous year | -6.9% |
| 1984 | 4.47 % change on previous year | -31.2% |
| 1985 | 13.25 % change on previous year | +196.1% |
| 1986 | 5.48 % change on previous year | -58.6% |
| 1987 | 23.5 % change on previous year | +328.9% |
| 1988 | 28.99 % change on previous year | +23.4% |
| 1989 | 31.45 % change on previous year | +8.5% |
| 1990 | 19.23 % change on previous year | -38.8% |
| 1991 | 19.29 % change on previous year | +0.3% |
| 1992 | 53.55 % change on previous year | +177.6% |
| 1993 | 38.76 % change on previous year | -27.6% |
| 1994 | 40.7 % change on previous year | +5.0% |
| 1995 | 75.27 % change on previous year | +85.0% |
| 1996 | 31.8 % change on previous year | -57.8% |
| 1997 | 8.14 % change on previous year | -74.4% |
| 1998 | 8.75 % change on previous year | +7.4% |
| 1999 | 14.09 % change on previous year | +61.1% |
| 2000 | 28.83 % change on previous year | +104.5% |
| 2001 | 16.59 % change on previous year | -42.4% |
| 2002 | 39.67 % change on previous year | +139.1% |
| 2003 | 17.87 % change on previous year | -55.0% |
| 2004 | 33.69 % change on previous year | +88.5% |
| 2005 | 27.58 % change on previous year | -18.1% |
| 2006 | 31.37 % change on previous year | +13.8% |
| 2007 | 14.16 % change on previous year | -54.9% |
| 2008 | 15.22 % change on previous year | +7.5% |
| 2009 | 8.78 % change on previous year | -42.3% |
| 2010 | 29.6 % change on previous year | +237.2% |
| 2011 | 14.42 % change on previous year | -51.3% |
| 2012 | 14.03 % change on previous year | -2.7% |
| 2013 | 11.49 % change on previous year | -18.1% |
| 2014 | 11.36 % change on previous year | -1.2% |
| 2015 | 5.46 % change on previous year | -51.9% |
| 2016 | 6.62 % change on previous year | +21.2% |
| 2017 | 12.01 % change on previous year | +81.6% |
| 2018 | 12.35 % change on previous year | +2.8% |
| 2019 | 12.82 % change on previous year | +3.8% |
| 2020 | 5.91 % change on previous year | -53.9% |
| 2021 | 14.15 % change on previous year | +139.2% |
| 2022 | 14.93 % change on previous year | +5.5% |
| 2023 | 15.84 % change on previous year | +6.1% |
| 2024 | 18.37 % change on previous year | +16.0% |
Nigeria compared with similar countries
- Nigeria's 18.37 % change on previous year is above the median for lower middle income countries, which is 9.89 % change on previous year, 1.9× the median. (43 countries reporting)
- Nigeria's 18.37 % change on previous year is above the median for Sub-Saharan Africa, which is 9.14 % change on previous year, 2.0× the median. (45 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 21.24 % change on previous year | 9.95 % change on previous year | 55.12 % change on previous year | 9 |
| 1980s | 14.26 % change on previous year | 4.47 % change on previous year | 31.45 % change on previous year | 10 |
| 1990s | 30.96 % change on previous year | 8.14 % change on previous year | 75.27 % change on previous year | 10 |
| 2000s | 23.38 % change on previous year | 8.78 % change on previous year | 39.67 % change on previous year | 10 |
| 2010s | 13.01 % change on previous year | 5.46 % change on previous year | 29.6 % change on previous year | 10 |
| 2020s | 13.84 % change on previous year | 5.91 % change on previous year | 18.37 % change on previous year | 5 |
Countries ranked near Nigeria
- 22 Uzbekistan 20.76 % change on previous year compare
- 23 Haiti 19.23 % change on previous year compare
- 24 Laos 18.76 % change on previous year compare
- 26 Niger 16.96 % change on previous year compare
- 27 Nicaragua 15.73 % change on previous year compare
- 28 Ukraine 15.55 % change on previous year compare
More economy & growth data for Nigeria
- Real gdp growth, annual growth rate 22.77 % change on previous year (2024)
- 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)
Frequently asked questions
- What is gross domestic product — value standard local currency, annual growth in Nigeria?
- Gross domestic product — value standard local currency, annual growth in Nigeria was 18.37 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest gross domestic product — value standard local currency, annual growth recorded in Nigeria?
- The highest recorded value was 75.27 % change on previous year in 1995.
- What is the lowest gross domestic product — value standard local currency, annual growth recorded in Nigeria?
- The lowest recorded value was 4.47 % change on previous year in 1984.
- How does Nigeria rank for gross domestic product — value standard local currency, annual growth?
- Nigeria ranks 25th out of 218 countries with data for 2024.
- Is gross domestic product — value standard local currency, annual growth rising or falling in Nigeria?
- Over the last ten years it is up 61.8%. 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 — Value Standard Local Currency, annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 54 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 — Value Standard Local Currency. Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Gross Domestic Product — Value Standard Local Currency Food and Agriculture Organization of the United Nations
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 — Value Standard Local Currency. Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.