Gross fixed capital formation, Private sector, Current prices in Nigeria
Nigeria: Gross fixed capital formation, Private sector, Current prices was 32,550 in 2019. ◆ Volatile
Gross fixed capital formation, Private sector, Current prices in Nigeria, 1970–2019
Source: International Monetary Fund.
Analysis
Nigeria recorded 32,550 for gross fixed capital formation, private sector, current prices in 2019. That is the highest value across all 50 years on record.
Compared with earlier readings it is up 57.1% on the previous year and up 356.7% over ten years.
Over the whole period, gross fixed capital formation, private sector, current prices in Nigeria peaked at 32,550 in 2019 and was at its lowest, 10.62, in 1970.
Nigeria ranks 13th 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 | Value | Change |
|---|---|---|
| 1970 | 10.62 | — |
| 1971 | 12.28 | +15.7% |
| 1972 | 14.24 | +15.9% |
| 1973 | 15.36 | +7.9% |
| 1974 | 17.74 | +15.5% |
| 1975 | 28.1 | +58.4% |
| 1976 | 45.77 | +62.9% |
| 1977 | 56.73 | +24.0% |
| 1978 | 58.62 | +3.3% |
| 1979 | 57.13 | -2.5% |
| 1980 | 65.53 | +14.7% |
| 1981 | 79.45 | +21.2% |
| 1982 | 81.73 | +2.9% |
| 1983 | 76.73 | -6.1% |
| 1984 | 62.38 | -18.7% |
| 1985 | 55.6 | -10.9% |
| 1986 | 69.46 | +24.9% |
| 1987 | 78.13 | +12.5% |
| 1988 | 88.11 | +12.8% |
| 1989 | 138.93 | +57.7% |
| 1990 | 184.42 | +32.7% |
| 1991 | 204.84 | +11.1% |
| 1992 | 227.68 | +11.2% |
| 1993 | 334.5 | +46.9% |
| 1994 | 445.43 | +33.2% |
| 1995 | 823.27 | +84.8% |
| 1996 | 1,079 | +31.1% |
| 1997 | 1,094 | +1.4% |
| 1998 | 1,292 | +18.1% |
| 1999 | 1,444 | +11.8% |
| 2000 | 1,165 | -19.3% |
| 2001 | 770.6 | -33.9% |
| 2002 | 2,157 | +179.9% |
| 2003 | 2,549 | +18.2% |
| 2004 | 3,295 | +29.3% |
| 2005 | 4,691 | +42.4% |
| 2006 | 5,898 | +25.7% |
| 2007 | 4,999 | -15.2% |
| 2008 | 5,510 | +10.2% |
| 2009 | 7,127 | +29.3% |
| 2010 | 6,856 | -3.8% |
| 2011 | 8,099 | +18.1% |
| 2012 | 8,121 | +0.3% |
| 2013 | 9,129 | +12.4% |
| 2014 | 11,188 | +22.6% |
| 2015 | 11,928 | +6.6% |
| 2016 | 12,722 | +6.7% |
| 2017 | 13,162 | +3.5% |
| 2018 | 20,714 | +57.4% |
| 2019 | 32,550 | +57.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 31.66 | 10.62 | 58.62 | 10 |
| 1980s | 79.6 | 55.6 | 138.93 | 10 |
| 1990s | 713.06 | 184.42 | 1,444 | 10 |
| 2000s | 3,816 | 770.6 | 7,127 | 10 |
| 2010s | 13,447 | 6,856 | 32,550 | 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)
- Manufacturing, value added (constant LCU), per capita 75,054 constant LCU per person (2025)
- Industry (including construction), value added (current US$), annual 4.17 % change on previous year (2025)
- Industry (including construction), value added (current US$), per 0.1644 current US$ per US$ of GDP (2025)
- Industry (including construction), value added (current US$), per 201.31 current US$ per person (2025)
- Industry (including construction), value added (current LCU), annual 7.02 % change on previous year (2025)
- Industry (including construction), value added (current LCU), per 249.67 current LCU per US$ of GDP (2025)
- Industry (including construction), value added (current LCU), per 305,664 current LCU per person (2025)
- Industry (including construction), value added (constant 2015 US$) 4.57 % 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 32,550 in 2019, according to International Monetary Fund.
- What is the highest gross fixed capital formation, private sector, current prices recorded in Nigeria?
- The highest recorded value was 32,550 in 2019.
- What is the lowest gross fixed capital formation, private sector, current prices recorded in Nigeria?
- The lowest recorded value was 10.62 in 1970.
- How does Nigeria rank for gross fixed capital formation, private sector, current prices?
- Nigeria ranks 13th 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 356.7%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from International Monetary Fund, published as part of Gross fixed capital formation, Private sector, Current prices, Domestic currency. Statizoid updates them automatically from the source API.
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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.