Gross fixed capital formation, Private sector, Current … Domestic in Nigeria
Nigeria: Gross fixed capital formation, Private sector, Current … Domestic 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 … Domestic 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% |
Nigeria compared with similar countries
- Nigeria's 32,550 is above the median for lower middle income countries, which is 506.27, 64.3× the median. (41 countries reporting)
- Nigeria's 32,550 is above the median for Sub-Saharan Africa, which is 506.27, 64.3× the median. (47 countries reporting)
Biggest year-on-year movements
Years where Gross fixed capital formation, Private sector, Current … Domestic 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 | +179.9% | 770.6 | 2,157 |
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
- 10 Tanzania, United Republic of 42,745 compare
- 11 Chile 40,067 compare
- 12 Paraguay 38,543 compare
- 14 Lao People's Democratic Republic 27,344 compare
- 15 China, People's Republic of 26,813 compare
- 16 Myanmar 26,596 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)
- 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, 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.
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.