Gross fixed capital formation, Private sector, Current prices in Nigeria
Nigeria: Gross fixed capital formation, Private sector, Current prices was 57.14 % change on previous year in 2019. ◆ Volatile
Gross fixed capital formation, Private sector, Current prices in Nigeria, 1971–2019
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
In 2019, gross fixed capital formation, private sector, current prices in Nigeria stood at 57.14 % change on previous year.
That represents a change of down 0.4% on the previous year and up 94.8% over ten years.
Over the whole period, gross fixed capital formation, private sector, current prices in Nigeria peaked at 179.91 % change on previous year in 2002 and was at its lowest, -33.86 % change on previous year, in 2001.
Nigeria ranks 5th of 174 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, Private sector, Current prices in Nigeria, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1971 | 15.66 % change on previous year | — |
| 1972 | 15.93 % change on previous year | +1.7% |
| 1973 | 7.89 % change on previous year | -50.5% |
| 1974 | 15.48 % change on previous year | +96.1% |
| 1975 | 58.4 % change on previous year | +277.2% |
| 1976 | 62.86 % change on previous year | +7.6% |
| 1977 | 23.96 % change on previous year | -61.9% |
| 1978 | 3.32 % change on previous year | -86.1% |
| 1979 | -2.54 % change on previous year | -176.3% |
| 1980 | 14.69 % change on previous year | -679.4% |
| 1981 | 21.24 % change on previous year | +44.5% |
| 1982 | 2.87 % change on previous year | -86.5% |
| 1983 | -6.11 % change on previous year | -313.2% |
| 1984 | -18.69 % change on previous year | +205.7% |
| 1985 | -10.88 % change on previous year | -41.8% |
| 1986 | 24.92 % change on previous year | -329.1% |
| 1987 | 12.49 % change on previous year | -49.9% |
| 1988 | 12.77 % change on previous year | +2.2% |
| 1989 | 57.68 % change on previous year | +351.8% |
| 1990 | 32.75 % change on previous year | -43.2% |
| 1991 | 11.07 % change on previous year | -66.2% |
| 1992 | 11.15 % change on previous year | +0.7% |
| 1993 | 46.91 % change on previous year | +320.7% |
| 1994 | 33.17 % change on previous year | -29.3% |
| 1995 | 84.82 % change on previous year | +155.8% |
| 1996 | 31.09 % change on previous year | -63.3% |
| 1997 | 1.41 % change on previous year | -95.5% |
| 1998 | 18.09 % change on previous year | +1186.4% |
| 1999 | 11.76 % change on previous year | -35.0% |
| 2000 | -19.33 % change on previous year | -264.4% |
| 2001 | -33.86 % change on previous year | +75.2% |
| 2002 | 179.91 % change on previous year | -631.3% |
| 2003 | 18.16 % change on previous year | -89.9% |
| 2004 | 29.3 % change on previous year | +61.3% |
| 2005 | 42.35 % change on previous year | +44.6% |
| 2006 | 25.72 % change on previous year | -39.3% |
| 2007 | -15.23 % change on previous year | -159.2% |
| 2008 | 10.22 % change on previous year | -167.1% |
| 2009 | 29.33 % change on previous year | +186.9% |
| 2010 | -3.8 % change on previous year | -113.0% |
| 2011 | 18.13 % change on previous year | -577.3% |
| 2012 | 0.2739 % change on previous year | -98.5% |
| 2013 | 12.41 % change on previous year | +4432.4% |
| 2014 | 22.55 % change on previous year | +81.7% |
| 2015 | 6.61 % change on previous year | -70.7% |
| 2016 | 6.66 % change on previous year | +0.7% |
| 2017 | 3.46 % change on previous year | -48.0% |
| 2018 | 57.38 % change on previous year | +1558.2% |
| 2019 | 57.14 % change on previous year | -0.4% |
Nigeria compared with similar countries
- Nigeria's 57.14 % change on previous year is above the median for lower middle income countries, which is 8.41 % change on previous year, 6.8× the median. (41 countries reporting)
- Nigeria's 57.14 % change on previous year is above the median for Sub-Saharan Africa, which is 9.9 % change on previous year, 5.8× the median. (47 countries reporting)
Biggest year-on-year movements
Years where Gross fixed capital formation, Private sector, Current prices 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 |
|---|---|---|---|
| 2013 | +4432.4% | 0.2739 % change on previous year | 12.41 % change on previous year |
| 2018 | +1558.2% | 3.46 % change on previous year | 57.38 % change on previous year |
| 1998 | +1186.4% | 1.41 % change on previous year | 18.09 % change on previous year |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 22.33 % change on previous year | -2.54 % change on previous year | 62.86 % change on previous year | 9 |
| 1980s | 11.1 % change on previous year | -18.69 % change on previous year | 57.68 % change on previous year | 10 |
| 1990s | 28.22 % change on previous year | 1.41 % change on previous year | 84.82 % change on previous year | 10 |
| 2000s | 26.66 % change on previous year | -33.86 % change on previous year | 179.91 % change on previous year | 10 |
| 2010s | 18.08 % change on previous year | -3.8 % change on previous year | 57.38 % change on previous year | 10 |
Countries ranked near Nigeria
- 2 Tajikistan 91.13 % change on previous year compare
- 3 Libya 85.66 % change on previous year compare
- 4 Ireland 78.53 % change on previous year compare
- 6 Egypt 50.65 % change on previous year compare
- 7 Uzbekistan 46.51 % change on previous year compare
- 8 Liberia 45.98 % change on previous year compare
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)
- IMF holdings of currency, SDR, annual growth rate -21.21 % change on previous year (2025)
- IMF holdings of currency, SDR, per unit of GDP 0.0078 units per US$ of GDP (2025)
- IMF holdings of currency, SDR, per capita 9.6 units per person (2025)
- Lending to the IMF (GRA), SDR, per capita 0 units per person (2025)
- SDR Allocation, US dollar, annual growth rate 5.01 % change on previous year (2025)
- SDR Allocation, US dollar, per unit of GDP 0.019 units per US$ of GDP (2025)
- SDR Allocation, US dollar, per capita 23.22 units per person (2025)
- SDR Allocation, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is gross fixed capital formation, private sector, current prices in Nigeria?
- Gross fixed capital formation, private sector, current prices in Nigeria was 57.14 % change on previous year in 2019, according to Statizoid (derived).
- What is the highest gross fixed capital formation, private sector, current prices recorded in Nigeria?
- The highest recorded value was 179.91 % change on previous year in 2002.
- What is the lowest gross fixed capital formation, private sector, current prices recorded in Nigeria?
- The lowest recorded value was -33.86 % change on previous year in 2001.
- How does Nigeria rank for gross fixed capital formation, private sector, current prices?
- Nigeria ranks 5th out of 174 countries with data for 2019.
- Is gross fixed capital formation, private sector, current prices rising or falling in Nigeria?
- Over the last ten years it is up 94.8%. 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 fixed capital formation, Private sector, Current prices, Domestic currency, annual growth rate. Statizoid updates them automatically from the source API.
Download this data
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How this figure is calculated
The year-on-year percentage change in Gross fixed capital formation, Private sector, Current prices, Domestic currency. Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Gross fixed capital formation, Private sector, Current prices International Monetary Fund
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, Private sector, Current prices, Domestic currency. Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.