Gross Fixed Capital: Value Standard … annual Standard Local Currency in Nigeria
Nigeria: Gross Fixed Capital: Value Standard … annual Standard Local Currency was 7.48 % change on previous year in 2024. ◆ Volatile
Gross Fixed Capital Formation Deflator — Value Standard Local in Nigeria, 1971–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
Nigeria recorded 7.48 % change on previous year for gross fixed capital formation deflator — value standard local in 2024.
Compared with earlier readings it is down 61.1% on the previous year and up 68.9% over ten years.
Over the whole period, gross fixed capital formation deflator — value standard local in Nigeria peaked at 66.05 % change on previous year in 1995 and was at its lowest, -8.09 % change on previous year, in 1973.
Nigeria ranks 30th of 208 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 Fixed Capital: Value Standard … annual Standard Local Currency in Nigeria, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1971 | 6.83 % change on previous year | — |
| 1972 | 5.2 % change on previous year | -23.9% |
| 1973 | -8.09 % change on previous year | -255.5% |
| 1974 | 42.07 % change on previous year | -620.3% |
| 1975 | 17.96 % change on previous year | -57.3% |
| 1976 | 15.47 % change on previous year | -13.9% |
| 1977 | 5.24 % change on previous year | -66.1% |
| 1978 | 5.34 % change on previous year | +1.9% |
| 1979 | 11.29 % change on previous year | +111.5% |
| 1980 | 7.71 % change on previous year | -31.8% |
| 1981 | 6.05 % change on previous year | -21.5% |
| 1982 | 25.97 % change on previous year | +329.2% |
| 1983 | 18.7 % change on previous year | -28.0% |
| 1984 | 16.44 % change on previous year | -12.1% |
| 1985 | 5.21 % change on previous year | -68.3% |
| 1986 | 24.65 % change on previous year | +373.1% |
| 1987 | 19.96 % change on previous year | -19.0% |
| 1988 | 5.7 % change on previous year | -71.4% |
| 1989 | 48.03 % change on previous year | +742.4% |
| 1990 | 6.04 % change on previous year | -87.4% |
| 1991 | 10.05 % change on previous year | +66.5% |
| 1992 | 38.16 % change on previous year | +279.7% |
| 1993 | 31.11 % change on previous year | -18.5% |
| 1994 | 36.43 % change on previous year | +17.1% |
| 1995 | 66.05 % change on previous year | +81.3% |
| 1996 | 21.34 % change on previous year | -67.7% |
| 1997 | 7.31 % change on previous year | -65.8% |
| 1998 | 13.2 % change on previous year | +80.6% |
| 1999 | 4.89 % change on previous year | -63.0% |
| 2000 | 6.81 % change on previous year | +39.5% |
| 2001 | 34.89 % change on previous year | +412.0% |
| 2002 | 12.96 % change on previous year | -62.9% |
| 2003 | 2.9 % change on previous year | -77.6% |
| 2004 | 53.4 % change on previous year | +1742.6% |
| 2005 | 19.41 % change on previous year | -63.7% |
| 2006 | -1.93 % change on previous year | -109.9% |
| 2007 | 12.72 % change on previous year | -760.8% |
| 2008 | 10.56 % change on previous year | -17.0% |
| 2009 | 10.79 % change on previous year | +2.2% |
| 2010 | -3.8 % change on previous year | -135.2% |
| 2011 | 17.46 % change on previous year | -560.2% |
| 2012 | 1.3 % change on previous year | -92.5% |
| 2013 | 3.49 % change on previous year | +168.1% |
| 2014 | 4.43 % change on previous year | +26.8% |
| 2015 | 3.17 % change on previous year | -28.5% |
| 2016 | 14.62 % change on previous year | +361.5% |
| 2017 | 15.43 % change on previous year | +5.5% |
| 2018 | 32.31 % change on previous year | +109.5% |
| 2019 | 34.9 % change on previous year | +8.0% |
| 2020 | 33.27 % change on previous year | -4.7% |
| 2021 | 36.63 % change on previous year | +10.1% |
| 2022 | 8.29 % change on previous year | -77.4% |
| 2023 | 19.24 % change on previous year | +132.1% |
| 2024 | 7.48 % change on previous year | -61.1% |
Nigeria compared with similar countries
- Nigeria's 7.48 % change on previous year is above the median for lower middle income countries, which is 3.87 % change on previous year, 1.9× the median. (41 countries reporting)
- Nigeria's 7.48 % change on previous year is above the median for Sub-Saharan Africa, which is 5 % change on previous year, 1.5× the median. (44 countries reporting)
Biggest year-on-year movements
Years where Gross Fixed Capital: Value Standard … annual Standard Local 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 |
|---|---|---|---|
| 2004 | +1742.6% | 2.9 % change on previous year | 53.4 % change on previous year |
| 2007 | +760.8% | -1.93 % change on previous year | 12.72 % change on previous year |
| 1989 | +742.4% | 5.7 % change on previous year | 48.03 % change on previous year |
| 1974 | +620.3% | -8.09 % change on previous year | 42.07 % change on previous year |
| 2011 | +560.2% | -3.8 % change on previous year | 17.46 % change on previous year |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 11.26 % change on previous year | -8.09 % change on previous year | 42.07 % change on previous year | 9 |
| 1980s | 17.84 % change on previous year | 5.21 % change on previous year | 48.03 % change on previous year | 10 |
| 1990s | 23.46 % change on previous year | 4.89 % change on previous year | 66.05 % change on previous year | 10 |
| 2000s | 16.25 % change on previous year | -1.93 % change on previous year | 53.4 % change on previous year | 10 |
| 2010s | 12.33 % change on previous year | -3.8 % change on previous year | 34.9 % change on previous year | 10 |
| 2020s | 20.99 % change on previous year | 7.48 % change on previous year | 36.63 % change on previous year | 5 |
Countries ranked near Nigeria
- 27 Uzbekistan 8.14 % change on previous year compare
- 28 Puerto Rico 8.05 % change on previous year compare
- 29 Romania 7.87 % change on previous year compare
- 31 Democratic Republic of the Congo 7.19 % change on previous year compare
- 32 Jamaica 7.07 % change on previous year compare
- 33 Zambia 7.01 % 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 fixed capital formation deflator — value standard local in Nigeria?
- Gross fixed capital formation deflator — value standard local in Nigeria was 7.48 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest gross fixed capital formation deflator — value standard local recorded in Nigeria?
- The highest recorded value was 66.05 % change on previous year in 1995.
- What is the lowest gross fixed capital formation deflator — value standard local recorded in Nigeria?
- The lowest recorded value was -8.09 % change on previous year in 1973.
- How does Nigeria rank for gross fixed capital formation deflator — value standard local?
- Nigeria ranks 30th out of 208 countries with data for 2024.
- Is gross fixed capital formation deflator — value standard local rising or falling in Nigeria?
- Over the last ten years it is up 68.9%. 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 Fixed Capital Formation Deflator — Value Standard Local Currency, 2015 prices, 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 Fixed Capital Formation Deflator — Value Standard Local Currency, 2015 prices. Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Gross Fixed Capital Formation Deflator — Value Standard Local 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 Fixed Capital Formation Deflator — Value Standard Local Currency, 2015 prices. Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.