Gross Fixed Capital Formation — Share of GDP US$ in Nigeria
Nigeria: Gross Fixed Capital Formation — Share of GDP US$ was 32.47 % in 2024. ◆ Volatile
Gross Fixed Capital Formation — Share of GDP US$ in Nigeria, 1970–2024
Source: Food and Agriculture Organization of the United Nations. Measured in %.
Analysis
In 2024, gross fixed capital formation — share of gdp us$ in Nigeria stood at 32.47 %.
Compared with earlier readings it is down 8.2% on the previous year and up 117.9% over ten years.
Over the whole period, gross fixed capital formation — share of gdp us$ in Nigeria peaked at 99.08 % in 1977 and was at its lowest, 13.99 %, in 2012.
Nigeria ranks 23rd of 203 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross Fixed Capital Formation — Share of GDP US$ in Nigeria, year by year
| Year | % | Change |
|---|---|---|
| 1970 | 79.3 % | — |
| 1971 | 79.22 % | -0.1% |
| 1972 | 81.83 % | +3.3% |
| 1973 | 76.84 % | -6.1% |
| 1974 | 57.21 % | -25.6% |
| 1975 | 72.97 % | +27.6% |
| 1976 | 95.7 % | +31.1% |
| 1977 | 99.08 % | +3.5% |
| 1978 | 93.11 % | -6.0% |
| 1979 | 78.87 % | -15.3% |
| 1980 | 77.03 % | -2.3% |
| 1981 | 89.39 % | +16.0% |
| 1982 | 85.94 % | -3.9% |
| 1983 | 75.76 % | -11.9% |
| 1984 | 58.96 % | -22.2% |
| 1985 | 46.4 % | -21.3% |
| 1986 | 54.95 % | +18.4% |
| 1987 | 50.05 % | -8.9% |
| 1988 | 43.75 % | -12.6% |
| 1989 | 52.49 % | +20.0% |
| 1990 | 53.12 % | +1.2% |
| 1991 | 48.4 % | -8.9% |
| 1992 | 43.77 % | -9.6% |
| 1993 | 44.48 % | +1.6% |
| 1994 | 42.07 % | -5.4% |
| 1995 | 37.21 % | -11.6% |
| 1996 | 36.58 % | -1.7% |
| 1997 | 38.42 % | +5.0% |
| 1998 | 40.55 % | +5.5% |
| 1999 | 38.28 % | -5.6% |
| 2000 | 34.05 % | -11.0% |
| 2001 | 30.04 % | -11.8% |
| 2002 | 26.77 % | -10.9% |
| 2003 | 28.37 % | +6.0% |
| 2004 | 26.06 % | -8.1% |
| 2005 | 24.97 % | -4.2% |
| 2006 | 26.17 % | +4.8% |
| 2007 | 20.18 % | -22.9% |
| 2008 | 18.86 % | -6.5% |
| 2009 | 21.12 % | +12.0% |
| 2010 | 16.3 % | -22.8% |
| 2011 | 15.36 % | -5.8% |
| 2012 | 13.99 % | -8.9% |
| 2013 | 14.01 % | +0.1% |
| 2014 | 14.9 % | +6.4% |
| 2015 | 14.67 % | -1.6% |
| 2016 | 14.7 % | +0.2% |
| 2017 | 14.72 % | +0.1% |
| 2018 | 19.02 % | +29.2% |
| 2019 | 24.63 % | +29.5% |
| 2020 | 28.65 % | +16.3% |
| 2021 | 33.11 % | +15.6% |
| 2022 | 32.23 % | -2.6% |
| 2023 | 35.36 % | +9.7% |
| 2024 | 32.47 % | -8.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 81.41 % | 57.21 % | 99.08 % | 10 |
| 1980s | 63.47 % | 43.75 % | 89.39 % | 10 |
| 1990s | 42.29 % | 36.58 % | 53.12 % | 10 |
| 2000s | 25.66 % | 18.86 % | 34.05 % | 10 |
| 2010s | 16.23 % | 13.99 % | 24.63 % | 10 |
| 2020s | 32.36 % | 28.65 % | 35.36 % | 5 |
Countries ranked near Nigeria
- 20 Algeria 33.64 % compare
- 21 Kyrgyzstan 33.29 % compare
- 22 Senegal 33.13 % compare
- 24 Sint Maarten (Dutch part) 32.47 % compare
- 25 Cabo Verde 18.24 % compare
- 25 Greenland 32.45 % compare
- 26 Mozambique 32.22 % 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)
- Services, value added (current US$), annual growth rate 24.94 % change on previous year (2025)
- Services, value added (current US$), per unit of GDP 0.5823 current US$ per US$ of GDP (2025)
- Services, value added (current US$), per capita 712.91 current US$ per person (2025)
- Services, value added (current LCU), annual growth rate 28.36 % change on previous year (2025)
- Services, value added (current LCU), per unit of GDP 884.19 current LCU per US$ of GDP (2025)
- Services, value added (current LCU), per capita 1.08 million current LCU per person (2025)
- Services, value added (constant 2015 US$), annual growth rate 4.14 % change on previous year (2025)
- Services, value added (constant 2015 US$), per unit of GDP 1.15 constant 2015 US$ per US$ of GDP (2025)
Frequently asked questions
- What is gross fixed capital formation — share of gdp us$ in Nigeria?
- Gross fixed capital formation — share of gdp us$ in Nigeria was 32.47 % in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross fixed capital formation — share of gdp us$ recorded in Nigeria?
- The highest recorded value was 99.08 % in 1977.
- What is the lowest gross fixed capital formation — share of gdp us$ recorded in Nigeria?
- The lowest recorded value was 13.99 % in 2012.
- How does Nigeria rank for gross fixed capital formation — share of gdp us$?
- Nigeria ranks 23rd out of 203 countries with data for 2024.
- Is gross fixed capital formation — share of gdp us$ rising or falling in Nigeria?
- Over the last ten years it is up 117.9%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Gross Fixed Capital Formation — Share of GDP US$. Statizoid updates them automatically from the source API.
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About this data
The FAOSTAT Macro Indicators database provides a selection of country-level macro indicators relating to total economy (Gross Domestic Product, Gross Fixed Capital Formation); agriculture activity; agriculture, forestry and fishing activity; total manufacturing activity; manufacturing of food products and beverages activity; manufacturing activity of tobacco products; and manufacturing activity of food, beverage and tobacco products.It releases time series for a selection of National Accounts variables, including gross domestic product, gross fixed capital formation, industry-level value added and gross output. The database also proposes additional indicators such as gross domestic product per capita, year-on-year growth rates and measures of industry contribution to gross domestic product. All data relating to Gross Domestic Product, Gross Fixed Capital Formation, agriculture, forestry and fishing activity, and to total manufacturing activity originates from the United Nations Statistics Division (UNSD) National Accounts Estimates of Main Aggregates database, which consists of a complete and consistent set of time series of the main National Accounts aggregates of all UN Members States and other territories in the world for which National Accounts information is available. The UNSD database's content is based on the countries' official National Accounts data reported to UNSD through the annual National Accounts Questionnaire, supplemented with data estimates for any years and countries with incomplete or inconsistent information (See http://unstats.un.org/unsd/snaama/Introduction.asp). Data series relating to the sub-industry Agriculture activity are obtained from the UNSD national accounts Official Country Data databases while series on the Manufacturing activity of food and beverages products, manufacturing activity of tobacco products and manufacturing activity of food, beverages and tobacco products originates from the United Nations Industrial Development Organization (UNIDO) INDSTAT2 database. In order to ensure that sub-industry series are consistent in levels with National Accounts based series, which is needed to support comparability across industries (agriculture vs. agro-industry and sub-industries), UNIDO originating series are rescaled on UNSD National Accounts Estimates of Main Aggregates data series (See Section 17.5 for a more detailed description of the data processing steps).