Gross fixed capital formation, Private sector, Constant prices in Nigeria
Nigeria: Gross fixed capital formation, Private sector, Constant prices was 8.62 in 2019. ▼ Falling
Gross fixed capital formation, Private sector, Constant prices in Nigeria, 1960–2019
Source: International Monetary Fund.
Analysis
The most recent figure for gross fixed capital formation, private sector, constant prices in Nigeria is 8.62, measured in 2019.
Compared with earlier readings it is up 14.0% on the previous year and up 6.3% over ten years.
Over the whole period, gross fixed capital formation, private sector, constant prices in Nigeria peaked at 30.51 in 1981 and was at its lowest, 4.75, in 2001.
Nigeria ranks 140th of 173 countries on this measure, in the bottom quarter.
The long-run direction has been consistently falling across the 60 years of available data.
Gross fixed capital formation, Private sector, Constant prices in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 1960 | 14.45 | — |
| 1961 | 15.68 | +8.5% |
| 1962 | 15.71 | +0.2% |
| 1963 | 15.04 | -4.3% |
| 1964 | 15.15 | +0.7% |
| 1965 | 16.53 | +9.1% |
| 1966 | 18.11 | +9.6% |
| 1967 | 22.35 | +23.4% |
| 1968 | 23.09 | +3.3% |
| 1969 | 20.4 | -11.7% |
| 1970 | 18.48 | -9.4% |
| 1971 | 17.51 | -5.2% |
| 1972 | 18 | +2.8% |
| 1973 | 19.91 | +10.6% |
| 1974 | 14.61 | -26.6% |
| 1975 | 19.48 | +33.4% |
| 1976 | 25.65 | +31.7% |
| 1977 | 27.91 | +8.8% |
| 1978 | 28.19 | +1.0% |
| 1979 | 25.39 | -9.9% |
| 1980 | 26.45 | +4.2% |
| 1981 | 30.51 | +15.4% |
| 1982 | 26.74 | -12.4% |
| 1983 | 23.74 | -11.2% |
| 1984 | 16.76 | -29.4% |
| 1985 | 13.41 | -20.0% |
| 1986 | 13.43 | +0.2% |
| 1987 | 12.2 | -9.1% |
| 1988 | 12.13 | -0.6% |
| 1989 | 12.68 | +4.5% |
| 1990 | 14.2 | +12.0% |
| 1991 | 14.28 | +0.6% |
| 1992 | 10.98 | -23.1% |
| 1993 | 12.56 | +14.4% |
| 1994 | 12.48 | -0.6% |
| 1995 | 13.9 | +11.4% |
| 1996 | 14.42 | +3.7% |
| 1997 | 13.23 | -8.2% |
| 1998 | 13.46 | +1.7% |
| 1999 | 14.26 | +5.9% |
| 2000 | 10.25 | -28.1% |
| 2001 | 4.75 | -53.7% |
| 2002 | 10.2 | +114.9% |
| 2003 | 10.91 | +7.0% |
| 2004 | 8.42 | -22.8% |
| 2005 | 9.43 | +12.0% |
| 2006 | 11.39 | +20.9% |
| 2007 | 8.04 | -29.4% |
| 2008 | 7.51 | -6.6% |
| 2009 | 8.11 | +8.0% |
| 2010 | 7.51 | -7.4% |
| 2011 | 7.17 | -4.5% |
| 2012 | 6.81 | -5.0% |
| 2013 | 6.93 | +1.8% |
| 2014 | 7.66 | +10.4% |
| 2015 | 7.71 | +0.7% |
| 2016 | 7.29 | -5.4% |
| 2017 | 6.48 | -11.1% |
| 2018 | 7.56 | +16.7% |
| 2019 | 8.62 | +14.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 17.65 | 14.45 | 23.09 | 10 |
| 1970s | 21.51 | 14.61 | 28.19 | 10 |
| 1980s | 18.8 | 12.13 | 30.51 | 10 |
| 1990s | 13.38 | 10.98 | 14.42 | 10 |
| 2000s | 8.9 | 4.75 | 11.39 | 10 |
| 2010s | 7.37 | 6.48 | 8.62 | 10 |
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)
- Total reserves minus gold (current US$), annual growth rate 11.4 % change on previous year (2025)
- Total reserves minus gold (current US$), per unit of GDP 0.1479 current US$ per US$ of GDP (2025)
- Total reserves minus gold (current US$), per capita 181.09 current US$ per person (2025)
- Agriculture, forestry, and fishing, value added (current LCU), annual 5.18 % change on previous year (2025)
- Agriculture, forestry, and fishing, value added (current LCU), per 348.91 current LCU per US$ of GDP (2025)
- Agriculture, forestry, and fishing, value added (current LCU), per 427,154 current LCU per person (2025)
- Agriculture, forestry, and fishing, value added (constant 2015 US$) 2.92 % change on previous year (2025)
- Agriculture, forestry, and fishing, value added (constant 2015 US$) 0.4555 constant 2015 US$ per US$ of GDP (2025)
Frequently asked questions
- What is gross fixed capital formation, private sector, constant prices in Nigeria?
- Gross fixed capital formation, private sector, constant prices in Nigeria was 8.62 in 2019, according to International Monetary Fund.
- What is the highest gross fixed capital formation, private sector, constant prices recorded in Nigeria?
- The highest recorded value was 30.51 in 1981.
- What is the lowest gross fixed capital formation, private sector, constant prices recorded in Nigeria?
- The lowest recorded value was 4.75 in 2001.
- How does Nigeria rank for gross fixed capital formation, private sector, constant prices?
- Nigeria ranks 140th out of 173 countries with data for 2019.
- Is gross fixed capital formation, private sector, constant prices rising or falling in Nigeria?
- Over the last ten years it is up 6.3%. The long-run trend across the full record is falling.
- Where does this Nigeria data come from?
- The figures come from International Monetary Fund, published as part of Gross fixed capital formation, Private sector, Constant prices, Percent of GDP. Statizoid updates them automatically from the source API.
Download this data
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About this data
This dataset provides comprehensive data for investment and capital stock for the general government, private sector and public-private partnerships, across the Fund member countries.