Gross fixed capital formation, Private sector … Private Percent in Nigeria
Nigeria: Gross fixed capital formation, Private sector … Private Percent 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 … Private Percent 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% |
Nigeria compared with similar countries
- Nigeria's 8.62 is below the median for lower middle income countries, which is 12.64, 68% of the median. (41 countries reporting)
- Nigeria's 8.62 is below the median for Sub-Saharan Africa, which is 10.65, 81% of the median. (46 countries reporting)
Biggest year-on-year movements
Years where Gross fixed capital formation, Private sector … Private Percent 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 |
|---|---|---|---|
| 2002 | +114.9% | 4.75 | 10.2 |
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)
- 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)
- IMF holdings of currency, US dollar, per unit of GDP 0.0107 units 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.