Gross Fixed Capital Formation — Value Standard Local Currency, 2015 in Nigeria
Nigeria: Gross Fixed Capital Formation — Value Standard Local Currency, 2015 was 16.39 million SLC per square kilometre in 2023. ▲ Rising
Latest (2023)
16.39 million SLC per square kilometre
Change on year
up 6.6%
World rank
43rd
of 194 countries
All-time high
23 million SLC per square kilometre
in 1981
All-time low
8.26 million SLC per square kilometre
in 1987
Years of data
54
1970–2023
Gross Fixed Capital Formation — Value Standard Local Currency, 2015 in Nigeria, 1970–2023
Source: Statizoid (derived). Measured in million SLC per square kilometre.
Analysis
In 2023, gross fixed capital formation — value standard local currency, 2015 in Nigeria stood at 16.39 million SLC per square kilometre.
The figure is up 6.6% on the previous year and up 20.7% over ten years.
Over the whole period, gross fixed capital formation — value standard local currency, 2015 in Nigeria peaked at 23 million SLC per square kilometre in 1981 and was at its lowest, 8.26 million SLC per square kilometre, in 1987.
That places Nigeria 43rd out of 194 countries with data for 2023, putting it in the top quarter.
The long-run direction has been consistently rising across the 54 years of available data.
Gross Fixed Capital Formation — Value Standard Local Currency, 2015 in Nigeria, year by year
| Year | million SLC per square kilometre | Change |
|---|---|---|
| 1970 | 8.66 million SLC per square kilometre | — |
| 1971 | 9.38 million SLC per square kilometre | +8.3% |
| 1972 | 10.33 million SLC per square kilometre | +10.2% |
| 1973 | 12.13 million SLC per square kilometre | +17.4% |
| 1974 | 9.86 million SLC per square kilometre | -18.7% |
| 1975 | 13.24 million SLC per square kilometre | +34.3% |
| 1976 | 18.68 million SLC per square kilometre | +41.0% |
| 1977 | 22 million SLC per square kilometre | +17.8% |
| 1978 | 21.58 million SLC per square kilometre | -1.9% |
| 1979 | 18.89 million SLC per square kilometre | -12.4% |
| 1980 | 20.12 million SLC per square kilometre | +6.5% |
| 1981 | 23 million SLC per square kilometre | +14.3% |
| 1982 | 18.78 million SLC per square kilometre | -18.3% |
| 1983 | 14.86 million SLC per square kilometre | -20.9% |
| 1984 | 10.37 million SLC per square kilometre | -30.2% |
| 1985 | 8.79 million SLC per square kilometre | -15.3% |
| 1986 | 8.81 million SLC per square kilometre | +0.2% |
| 1987 | 8.26 million SLC per square kilometre | -6.2% |
| 1988 | 8.81 million SLC per square kilometre | +6.7% |
| 1989 | 9.38 million SLC per square kilometre | +6.5% |
| 1990 | 10.68 million SLC per square kilometre | +13.8% |
| 1991 | 10.55 million SLC per square kilometre | -1.2% |
| 1992 | 10.6 million SLC per square kilometre | +0.5% |
| 1993 | 11.4 million SLC per square kilometre | +7.5% |
| 1994 | 11.12 million SLC per square kilometre | -2.5% |
| 1995 | 10.38 million SLC per square kilometre | -6.6% |
| 1996 | 11.09 million SLC per square kilometre | +6.8% |
| 1997 | 11.73 million SLC per square kilometre | +5.8% |
| 1998 | 11.9 million SLC per square kilometre | +1.4% |
| 1999 | 12.22 million SLC per square kilometre | +2.7% |
| 2000 | 13.11 million SLC per square kilometre | +7.3% |
| 2001 | 9.99 million SLC per square kilometre | -23.7% |
| 2002 | 11.01 million SLC per square kilometre | +10.2% |
| 2003 | 13.37 million SLC per square kilometre | +21.4% |
| 2004 | 10.71 million SLC per square kilometre | -19.9% |
| 2005 | 10.96 million SLC per square kilometre | +2.3% |
| 2006 | 15.38 million SLC per square kilometre | +40.4% |
| 2007 | 12.01 million SLC per square kilometre | -21.9% |
| 2008 | 11.7 million SLC per square kilometre | -2.6% |
| 2009 | 12.86 million SLC per square kilometre | +9.9% |
| 2010 | 13.38 million SLC per square kilometre | +4.0% |
| 2011 | 12.27 million SLC per square kilometre | -8.2% |
| 2012 | 12.59 million SLC per square kilometre | +2.6% |
| 2013 | 13.58 million SLC per square kilometre | +7.9% |
| 2014 | 15.4 million SLC per square kilometre | +13.4% |
| 2015 | 15.49 million SLC per square kilometre | +0.6% |
| 2016 | 14.44 million SLC per square kilometre | -6.8% |
| 2017 | 14.03 million SLC per square kilometre | -2.8% |
| 2018 | 15.4 million SLC per square kilometre | +9.7% |
| 2019 | 16.67 million SLC per square kilometre | +8.3% |
| 2020 | 15.41 million SLC per square kilometre | -7.6% |
| 2021 | 14.88 million SLC per square kilometre | -3.4% |
| 2022 | 15.38 million SLC per square kilometre | +3.3% |
| 2023 | 16.39 million SLC per square kilometre | +6.6% |
Nigeria compared with similar countries
- Nigeria's 16.39 million SLC per square kilometre is above the median for lower middle income countries, which is 2.34 million SLC per square kilometre, 7.0× the median. (44 countries reporting)
- Nigeria's 16.39 million SLC per square kilometre is above the median for Sub-Saharan Africa, which is 2.34 million SLC per square kilometre, 7.0× the median. (45 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 14.47 million SLC per square kilometre | 8.66 million SLC per square kilometre | 22 million SLC per square kilometre | 10 |
| 1980s | 13.12 million SLC per square kilometre | 8.26 million SLC per square kilometre | 23 million SLC per square kilometre | 10 |
| 1990s | 11.17 million SLC per square kilometre | 10.38 million SLC per square kilometre | 12.22 million SLC per square kilometre | 10 |
| 2000s | 12.11 million SLC per square kilometre | 9.99 million SLC per square kilometre | 15.38 million SLC per square kilometre | 10 |
| 2010s | 14.33 million SLC per square kilometre | 12.27 million SLC per square kilometre | 16.67 million SLC per square kilometre | 10 |
| 2020s | 15.52 million SLC per square kilometre | 14.88 million SLC per square kilometre | 16.39 million SLC per square kilometre | 4 |
Countries ranked near Nigeria
- 40 Equatorial Guinea 19.05 million SLC per square kilometre compare
- 41 Albania 18.26 million SLC per square kilometre compare
- 42 Israel 17.91 million SLC per square kilometre compare
- 44 Serbia 16.15 million SLC per square kilometre compare
- 45 Madagascar 15.48 million SLC per square kilometre compare
- 46 Philippines 15.45 million SLC per square kilometre 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)
- Foreign direct investment, net outflows (BoP, current US$), gaps 1.19 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0041 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 5 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 4.01 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 148.16 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0138 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 16.86 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 13.91 % change on previous year (2025)
Frequently asked questions
- What is gross fixed capital formation — value standard local currency, 2015 in Nigeria?
- Gross fixed capital formation — value standard local currency, 2015 in Nigeria was 16.39 million SLC per square kilometre in 2023, according to Statizoid (derived).
- What is the highest gross fixed capital formation — value standard local currency, 2015 recorded in Nigeria?
- The highest recorded value was 23 million SLC per square kilometre in 1981.
- What is the lowest gross fixed capital formation — value standard local currency, 2015 recorded in Nigeria?
- The lowest recorded value was 8.26 million SLC per square kilometre in 1987.
- How does Nigeria rank for gross fixed capital formation — value standard local currency, 2015?
- Nigeria ranks 43rd out of 194 countries with data for 2023.
- Is gross fixed capital formation — value standard local currency, 2015 rising or falling in Nigeria?
- Over the last ten years it is up 20.7%. The long-run trend across the full record is rising.
- Where does this Nigeria data come from?
- The figures come from Statizoid (derived), published as part of Gross Fixed Capital Formation — Value Standard Local Currency, 2015 prices, per square kilometre. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 54 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
Gross Fixed Capital Formation — Value Standard Local Currency, 2015 prices divided by Land area (sq. km), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Gross Fixed Capital Formation — Value Standard Local Currency, 2015 prices ÷ Land area (sq. km)
Computed from
- Gross Fixed Capital Formation — Value Standard Local Currency, 2015 Food and Agriculture Organization of the United Nations
- Land area FAOSTAT, Food and Agriculture Organization of the United Nations (FAO)
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
Gross Fixed Capital Formation — Value Standard Local Currency, 2015 prices divided by Land area (sq. km), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.