Gross Fixed Capital Formation — Value Standard Local Currency, per in Nigeria
Nigeria: Gross Fixed Capital Formation — Value Standard Local Currency, per was 0.3873 million SLC per person in 2024. ◆ Volatile
Gross Fixed Capital Formation — Value Standard Local Currency, per in Nigeria, 1970–2024
Source: Statizoid (derived). Measured in million SLC per person.
Analysis
In 2024, gross fixed capital formation — value standard local currency, per in Nigeria stood at 0.3873 million SLC per person. That is the highest value across all 55 years on record.
Compared with earlier readings it is up 6.5% on the previous year and up 429.5% over ten years.
Over the whole period, gross fixed capital formation — value standard local currency, per in Nigeria peaked at 0.3873 million SLC per person in 2024 and was at its lowest, 0.0003 million SLC per person, in 1970.
Nigeria ranks 33rd of 194 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 — Value Standard Local Currency, per in Nigeria, year by year
| Year | million SLC per person | Change |
|---|---|---|
| 1970 | 0.0003 million SLC per person | — |
| 1971 | 0.0003 million SLC per person | +13.0% |
| 1972 | 0.0004 million SLC per person | +13.2% |
| 1973 | 0.0004 million SLC per person | +5.2% |
| 1974 | 0.0005 million SLC per person | +12.5% |
| 1975 | 0.0007 million SLC per person | +54.1% |
| 1976 | 0.0011 million SLC per person | +58.3% |
| 1977 | 0.0013 million SLC per person | +20.3% |
| 1978 | 0.0013 million SLC per person | +0.2% |
| 1979 | 0.0013 million SLC per person | -5.5% |
| 1980 | 0.0014 million SLC per person | +11.2% |
| 1981 | 0.0016 million SLC per person | +17.6% |
| 1982 | 0.0016 million SLC per person | -0.2% |
| 1983 | 0.0015 million SLC per person | -8.5% |
| 1984 | 0.0012 million SLC per person | -20.8% |
| 1985 | 0.001 million SLC per person | -13.4% |
| 1986 | 0.0012 million SLC per person | +21.6% |
| 1987 | 0.0014 million SLC per person | +9.5% |
| 1988 | 0.0015 million SLC per person | +9.8% |
| 1989 | 0.0023 million SLC per person | +53.5% |
| 1990 | 0.0027 million SLC per person | +17.5% |
| 1991 | 0.0029 million SLC per person | +5.9% |
| 1992 | 0.0039 million SLC per person | +35.3% |
| 1993 | 0.0053 million SLC per person | +37.3% |
| 1994 | 0.0069 million SLC per person | +29.6% |
| 1995 | 0.0104 million SLC per person | +51.0% |
| 1996 | 0.0131 million SLC per person | +26.2% |
| 1997 | 0.0145 million SLC per person | +10.7% |
| 1998 | 0.0163 million SLC per person | +11.8% |
| 1999 | 0.0171 million SLC per person | +4.9% |
| 2000 | 0.019 million SLC per person | +11.6% |
| 2001 | 0.019 million SLC per person | +0.1% |
| 2002 | 0.0231 million SLC per person | +21.1% |
| 2003 | 0.028 million SLC per person | +21.5% |
| 2004 | 0.0335 million SLC per person | +19.5% |
| 2005 | 0.0398 million SLC per person | +18.9% |
| 2006 | 0.0533 million SLC per person | +33.9% |
| 2007 | 0.0457 million SLC per person | -14.4% |
| 2008 | 0.0478 million SLC per person | +4.7% |
| 2009 | 0.0566 million SLC per person | +18.4% |
| 2010 | 0.0551 million SLC per person | -2.7% |
| 2011 | 0.0578 million SLC per person | +4.8% |
| 2012 | 0.0584 million SLC per person | +1.0% |
| 2013 | 0.0634 million SLC per person | +8.6% |
| 2014 | 0.0731 million SLC per person | +15.4% |
| 2015 | 0.074 million SLC per person | +1.2% |
| 2016 | 0.0771 million SLC per person | +4.2% |
| 2017 | 0.0844 million SLC per person | +9.5% |
| 2018 | 0.1198 million SLC per person | +41.9% |
| 2019 | 0.1712 million SLC per person | +42.9% |
| 2020 | 0.2065 million SLC per person | +20.6% |
| 2021 | 0.2668 million SLC per person | +29.2% |
| 2022 | 0.2923 million SLC per person | +9.6% |
| 2023 | 0.3637 million SLC per person | +24.4% |
| 2024 | 0.3873 million SLC per person | +6.5% |
Nigeria compared with similar countries
- Nigeria's 0.3873 million SLC per person is above the median for lower middle income countries, which is 0.0501 million SLC per person, 7.7× the median. (44 countries reporting)
- Nigeria's 0.3873 million SLC per person is above the median for Sub-Saharan Africa, which is 0.0989 million SLC per person, 3.9× the median. (45 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 0.0008 million SLC per person | 0.0003 million SLC per person | 0.0013 million SLC per person | 10 |
| 1980s | 0.0015 million SLC per person | 0.001 million SLC per person | 0.0023 million SLC per person | 10 |
| 1990s | 0.0093 million SLC per person | 0.0027 million SLC per person | 0.0171 million SLC per person | 10 |
| 2000s | 0.0366 million SLC per person | 0.019 million SLC per person | 0.0566 million SLC per person | 10 |
| 2010s | 0.0834 million SLC per person | 0.0551 million SLC per person | 0.1712 million SLC per person | 10 |
| 2020s | 0.3033 million SLC per person | 0.2065 million SLC per person | 0.3873 million SLC per person | 5 |
Countries ranked near Nigeria
- 30 Cote d'Ivoire 0.4382 million SLC per person compare
- 31 Equatorial Guinea 0.4226 million SLC per person compare
- 32 Congo 0.4024 million SLC per person compare
- 34 Rwanda 0.3833 million SLC per person compare
- 35 Benin 0.3667 million SLC per person compare
- 36 Senegal 0.347 million SLC per person 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, per in Nigeria?
- Gross fixed capital formation — value standard local currency, per in Nigeria was 0.3873 million SLC per person in 2024, according to Statizoid (derived).
- What is the highest gross fixed capital formation — value standard local currency, per recorded in Nigeria?
- The highest recorded value was 0.3873 million SLC per person in 2024.
- What is the lowest gross fixed capital formation — value standard local currency, per recorded in Nigeria?
- The lowest recorded value was 0.0003 million SLC per person in 1970.
- How does Nigeria rank for gross fixed capital formation — value standard local currency, per?
- Nigeria ranks 33rd out of 194 countries with data for 2024.
- Is gross fixed capital formation — value standard local currency, per rising or falling in Nigeria?
- Over the last ten years it is up 429.5%. 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 — Value Standard Local Currency, per capita. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 55 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 divided by Population, total, 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 ÷ Population, total
Computed from
- Gross Fixed Capital Formation — Value Standard Local Currency Food and Agriculture Organization of the United Nations
- Population, total World Population Prospects, United Nations (UN)
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 divided by Population, total, matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.