Gross Fixed Capital Formation Deflator — Value Standard Local in Nigeria
Nigeria: Gross Fixed Capital Formation Deflator — Value Standard Local was 596.86 SLC in 2024. ◆ Volatile
Gross Fixed Capital Formation Deflator — Value Standard Local in Nigeria, 1970–2024
Source: Food and Agriculture Organization of the United Nations. Measured in SLC.
Analysis
Nigeria recorded 596.86 SLC for gross fixed capital formation deflator — value standard local in 2024. That is the highest value across all 55 years on record.
That represents a change of up 7.5% on the previous year and up 515.8% over ten years.
Over the whole period, gross fixed capital formation deflator — value standard local in Nigeria peaked at 596.86 SLC in 2024 and was at its lowest, 0.211 SLC, in 1970.
Nigeria ranks 8th of 194 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 Fixed Capital Formation Deflator — Value Standard Local in Nigeria, year by year
| Year | SLC | Change |
|---|---|---|
| 1970 | 0.211 SLC | — |
| 1971 | 0.2254 SLC | +6.8% |
| 1972 | 0.2371 SLC | +5.2% |
| 1973 | 0.218 SLC | -8.1% |
| 1974 | 0.3097 SLC | +42.1% |
| 1975 | 0.3653 SLC | +18.0% |
| 1976 | 0.4218 SLC | +15.5% |
| 1977 | 0.4439 SLC | +5.2% |
| 1978 | 0.4676 SLC | +5.3% |
| 1979 | 0.5204 SLC | +11.3% |
| 1980 | 0.5605 SLC | +7.7% |
| 1981 | 0.5944 SLC | +6.1% |
| 1982 | 0.7488 SLC | +26.0% |
| 1983 | 0.8888 SLC | +18.7% |
| 1984 | 1.03 SLC | +16.4% |
| 1985 | 1.09 SLC | +5.2% |
| 1986 | 1.36 SLC | +24.7% |
| 1987 | 1.63 SLC | +20.0% |
| 1988 | 1.72 SLC | +5.7% |
| 1989 | 2.55 SLC | +48.0% |
| 1990 | 2.7 SLC | +6.0% |
| 1991 | 2.97 SLC | +10.1% |
| 1992 | 4.11 SLC | +38.2% |
| 1993 | 5.39 SLC | +31.1% |
| 1994 | 7.35 SLC | +36.4% |
| 1995 | 12.2 SLC | +66.0% |
| 1996 | 14.8 SLC | +21.3% |
| 1997 | 15.89 SLC | +7.3% |
| 1998 | 17.98 SLC | +13.2% |
| 1999 | 18.86 SLC | +4.9% |
| 2000 | 20.15 SLC | +6.8% |
| 2001 | 27.17 SLC | +34.9% |
| 2002 | 30.69 SLC | +13.0% |
| 2003 | 31.58 SLC | +2.9% |
| 2004 | 48.45 SLC | +53.4% |
| 2005 | 57.85 SLC | +19.4% |
| 2006 | 56.74 SLC | -1.9% |
| 2007 | 63.96 SLC | +12.7% |
| 2008 | 70.71 SLC | +10.6% |
| 2009 | 78.34 SLC | +10.8% |
| 2010 | 75.37 SLC | -3.8% |
| 2011 | 88.53 SLC | +17.5% |
| 2012 | 89.68 SLC | +1.3% |
| 2013 | 92.82 SLC | +3.5% |
| 2014 | 96.93 SLC | +4.4% |
| 2015 | 100 SLC | +3.2% |
| 2016 | 114.62 SLC | +14.6% |
| 2017 | 132.31 SLC | +15.4% |
| 2018 | 175.06 SLC | +32.3% |
| 2019 | 236.16 SLC | +34.9% |
| 2020 | 314.74 SLC | +33.3% |
| 2021 | 430.03 SLC | +36.6% |
| 2022 | 465.69 SLC | +8.3% |
| 2023 | 555.31 SLC | +19.2% |
| 2024 | 596.86 SLC | +7.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 0.342 SLC | 0.211 SLC | 0.5204 SLC | 10 |
| 1980s | 1.22 SLC | 0.5605 SLC | 2.55 SLC | 10 |
| 1990s | 10.22 SLC | 2.7 SLC | 18.86 SLC | 10 |
| 2000s | 48.56 SLC | 20.15 SLC | 78.34 SLC | 10 |
| 2010s | 120.15 SLC | 75.37 SLC | 236.16 SLC | 10 |
| 2020s | 472.52 SLC | 314.74 SLC | 596.86 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)
- Industry (including construction), value added (constant 2015 US$) 4.57 % change on previous year (2025)
- Industry (including construction), value added (constant 2015 US$) 0.2863 constant 2015 US$ per US$ of GDP (2025)
- Industry (including construction), value added (constant 2015 US$) 350.54 constant 2015 US$ per person (2025)
- Industry (including construction), value added (constant LCU), annual 4.57 % change on previous year (2025)
- Industry (including construction), value added (constant LCU), per 127.87 constant LCU per US$ of GDP (2025)
- Industry (including construction), value added (constant LCU), per 156,550 constant LCU per person (2025)
- Services, value added (current US$), annual growth rate 24.94 % change on previous year (2025)
- Services, value added (current US$), per unit of GDP 0.5823 current US$ per US$ of GDP (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 596.86 SLC in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross fixed capital formation deflator — value standard local recorded in Nigeria?
- The highest recorded value was 596.86 SLC in 2024.
- What is the lowest gross fixed capital formation deflator — value standard local recorded in Nigeria?
- The lowest recorded value was 0.211 SLC in 1970.
- How does Nigeria rank for gross fixed capital formation deflator — value standard local?
- Nigeria ranks 8th out of 194 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 515.8%. 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 Gross Fixed Capital Formation Deflator — Value Standard Local Currency, 2015 prices. Statizoid updates them automatically from the source API.
Download this data
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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).