Gross Fixed Capital Formation — Value Standard Local Currency, per in Nigeria
Nigeria: Gross Fixed Capital Formation — Value Standard Local Currency, per was 91.01 million SLC per square kilometre in 2023. ◆ Volatile
Latest (2023)
91.01 million SLC per square kilometre
Change on year
up 27.1%
World rank
20th
of 194 countries
All-time high
91.01 million SLC per square kilometre
in 2023
All-time low
0.0183 million SLC per square kilometre
in 1970
Years of data
54
1970–2023
Gross Fixed Capital Formation — Value Standard Local Currency, per in Nigeria, 1970–2023
Source: Statizoid (derived). Measured in million SLC per square kilometre.
Analysis
The most recent figure for gross fixed capital formation — value standard local currency, per in Nigeria is 91.01 million SLC per square kilometre, measured in 2023. That is the highest value across all 54 years on record.
Compared with earlier readings it is up 27.1% on the previous year and up 622.2% over ten years.
Over the whole period, gross fixed capital formation — value standard local currency, per in Nigeria peaked at 91.01 million SLC per square kilometre in 2023 and was at its lowest, 0.0183 million SLC per square kilometre, in 1970.
Nigeria ranks 20th of 194 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 — Value Standard Local Currency, per in Nigeria, year by year
| Year | million SLC per square kilometre | Change |
|---|---|---|
| 1970 | 0.0183 million SLC per square kilometre | — |
| 1971 | 0.0211 million SLC per square kilometre | +15.7% |
| 1972 | 0.0245 million SLC per square kilometre | +15.9% |
| 1973 | 0.0264 million SLC per square kilometre | +7.9% |
| 1974 | 0.0305 million SLC per square kilometre | +15.5% |
| 1975 | 0.0484 million SLC per square kilometre | +58.4% |
| 1976 | 0.0788 million SLC per square kilometre | +62.9% |
| 1977 | 0.0976 million SLC per square kilometre | +24.0% |
| 1978 | 0.1009 million SLC per square kilometre | +3.3% |
| 1979 | 0.0983 million SLC per square kilometre | -2.5% |
| 1980 | 0.1128 million SLC per square kilometre | +14.7% |
| 1981 | 0.1367 million SLC per square kilometre | +21.2% |
| 1982 | 0.1406 million SLC per square kilometre | +2.9% |
| 1983 | 0.132 million SLC per square kilometre | -6.1% |
| 1984 | 0.1074 million SLC per square kilometre | -18.7% |
| 1985 | 0.0957 million SLC per square kilometre | -10.9% |
| 1986 | 0.1195 million SLC per square kilometre | +24.9% |
| 1987 | 0.1345 million SLC per square kilometre | +12.5% |
| 1988 | 0.1516 million SLC per square kilometre | +12.8% |
| 1989 | 0.2391 million SLC per square kilometre | +57.7% |
| 1990 | 0.2885 million SLC per square kilometre | +20.7% |
| 1991 | 0.3136 million SLC per square kilometre | +8.7% |
| 1992 | 0.4355 million SLC per square kilometre | +38.9% |
| 1993 | 0.6139 million SLC per square kilometre | +41.0% |
| 1994 | 0.817 million SLC per square kilometre | +33.1% |
| 1995 | 1.27 million SLC per square kilometre | +55.0% |
| 1996 | 1.64 million SLC per square kilometre | +29.6% |
| 1997 | 1.86 million SLC per square kilometre | +13.6% |
| 1998 | 2.14 million SLC per square kilometre | +14.8% |
| 1999 | 2.3 million SLC per square kilometre | +7.7% |
| 2000 | 2.64 million SLC per square kilometre | +14.6% |
| 2001 | 2.72 million SLC per square kilometre | +2.9% |
| 2002 | 3.38 million SLC per square kilometre | +24.5% |
| 2003 | 4.22 million SLC per square kilometre | +24.9% |
| 2004 | 5.19 million SLC per square kilometre | +22.8% |
| 2005 | 6.34 million SLC per square kilometre | +22.2% |
| 2006 | 8.73 million SLC per square kilometre | +37.7% |
| 2007 | 7.68 million SLC per square kilometre | -12.0% |
| 2008 | 8.27 million SLC per square kilometre | +7.7% |
| 2009 | 10.08 million SLC per square kilometre | +21.8% |
| 2010 | 10.08 million SLC per square kilometre | +0.1% |
| 2011 | 10.87 million SLC per square kilometre | +7.8% |
| 2012 | 11.29 million SLC per square kilometre | +3.9% |
| 2013 | 12.6 million SLC per square kilometre | +11.6% |
| 2014 | 14.93 million SLC per square kilometre | +18.5% |
| 2015 | 15.49 million SLC per square kilometre | +3.8% |
| 2016 | 16.55 million SLC per square kilometre | +6.8% |
| 2017 | 18.56 million SLC per square kilometre | +12.1% |
| 2018 | 26.96 million SLC per square kilometre | +45.2% |
| 2019 | 39.38 million SLC per square kilometre | +46.1% |
| 2020 | 48.52 million SLC per square kilometre | +23.2% |
| 2021 | 64.01 million SLC per square kilometre | +31.9% |
| 2022 | 71.62 million SLC per square kilometre | +11.9% |
| 2023 | 91.01 million SLC per square kilometre | +27.1% |
Nigeria compared with similar countries
- Nigeria's 91.01 million SLC per square kilometre is above the median for lower middle income countries, which is 4.03 million SLC per square kilometre, 22.6× the median. (44 countries reporting)
- Nigeria's 91.01 million SLC per square kilometre is above the median for Sub-Saharan Africa, which is 3.96 million SLC per square kilometre, 23.0× the median. (45 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 0.0545 million SLC per square kilometre | 0.0183 million SLC per square kilometre | 0.1009 million SLC per square kilometre | 10 |
| 1980s | 0.137 million SLC per square kilometre | 0.0957 million SLC per square kilometre | 0.2391 million SLC per square kilometre | 10 |
| 1990s | 1.17 million SLC per square kilometre | 0.2885 million SLC per square kilometre | 2.3 million SLC per square kilometre | 10 |
| 2000s | 5.92 million SLC per square kilometre | 2.64 million SLC per square kilometre | 10.08 million SLC per square kilometre | 10 |
| 2010s | 17.67 million SLC per square kilometre | 10.08 million SLC per square kilometre | 39.38 million SLC per square kilometre | 10 |
| 2020s | 68.79 million SLC per square kilometre | 48.52 million SLC per square kilometre | 91.01 million SLC per square kilometre | 4 |
Countries ranked near Nigeria
- 17 Bangladesh 106.94 million SLC per square kilometre compare
- 18 Guinea 100.97 million SLC per square kilometre compare
- 19 Somalia 95.09 million SLC per square kilometre compare
- 21 Chile 90.44 million SLC per square kilometre compare
- 22 Sri Lanka 80.76 million SLC per square kilometre compare
- 23 Mauritius 76.76 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, per in Nigeria?
- Gross fixed capital formation — value standard local currency, per in Nigeria was 91.01 million SLC per square kilometre in 2023, 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 91.01 million SLC per square kilometre in 2023.
- What is the lowest gross fixed capital formation — value standard local currency, per recorded in Nigeria?
- The lowest recorded value was 0.0183 million SLC per square kilometre in 1970.
- How does Nigeria rank for gross fixed capital formation — value standard local currency, per?
- Nigeria ranks 20th out of 194 countries with data for 2023.
- Is gross fixed capital formation — value standard local currency, per rising or falling in Nigeria?
- Over the last ten years it is up 622.2%. 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 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 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 ÷ Land area (sq. km)
Computed from
- Gross Fixed Capital Formation — Value Standard Local Currency 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 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.