Gross Fixed Capital Formation — Value US$, 2015 prices, per square in Nigeria
Nigeria: Gross Fixed Capital Formation — Value US$, 2015 prices, per square was 0.0852 million USD per square kilometre in 2023. ▲ Rising
Latest (2023)
0.0852 million USD per square kilometre
Change on year
up 6.6%
World rank
103rd
of 194 countries
All-time high
0.1195 million USD per square kilometre
in 1981
All-time low
0.0429 million USD per square kilometre
in 1987
Years of data
54
1970–2023
Gross Fixed Capital Formation — Value US$, 2015 prices, per square in Nigeria, 1970–2023
Source: Statizoid (derived). Measured in million USD per square kilometre.
Analysis
In 2023, gross fixed capital formation — value us$, 2015 prices, per square in Nigeria stood at 0.0852 million USD 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 us$, 2015 prices, per square in Nigeria peaked at 0.1195 million USD per square kilometre in 1981 and was at its lowest, 0.0429 million USD per square kilometre, in 1987.
Nigeria ranks 103rd of 194 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 54 years of available data.
Gross Fixed Capital Formation — Value US$, 2015 prices, per square in Nigeria, year by year
| Year | million USD per square kilometre | Change |
|---|---|---|
| 1970 | 0.045 million USD per square kilometre | — |
| 1971 | 0.0487 million USD per square kilometre | +8.3% |
| 1972 | 0.0537 million USD per square kilometre | +10.2% |
| 1973 | 0.063 million USD per square kilometre | +17.4% |
| 1974 | 0.0512 million USD per square kilometre | -18.7% |
| 1975 | 0.0688 million USD per square kilometre | +34.3% |
| 1976 | 0.097 million USD per square kilometre | +41.0% |
| 1977 | 0.1143 million USD per square kilometre | +17.8% |
| 1978 | 0.1121 million USD per square kilometre | -1.9% |
| 1979 | 0.0982 million USD per square kilometre | -12.4% |
| 1980 | 0.1046 million USD per square kilometre | +6.5% |
| 1981 | 0.1195 million USD per square kilometre | +14.3% |
| 1982 | 0.0976 million USD per square kilometre | -18.3% |
| 1983 | 0.0772 million USD per square kilometre | -20.9% |
| 1984 | 0.0539 million USD per square kilometre | -30.2% |
| 1985 | 0.0457 million USD per square kilometre | -15.3% |
| 1986 | 0.0458 million USD per square kilometre | +0.2% |
| 1987 | 0.0429 million USD per square kilometre | -6.2% |
| 1988 | 0.0458 million USD per square kilometre | +6.7% |
| 1989 | 0.0488 million USD per square kilometre | +6.5% |
| 1990 | 0.0555 million USD per square kilometre | +13.8% |
| 1991 | 0.0548 million USD per square kilometre | -1.2% |
| 1992 | 0.0551 million USD per square kilometre | +0.5% |
| 1993 | 0.0592 million USD per square kilometre | +7.5% |
| 1994 | 0.0578 million USD per square kilometre | -2.5% |
| 1995 | 0.0539 million USD per square kilometre | -6.6% |
| 1996 | 0.0576 million USD per square kilometre | +6.8% |
| 1997 | 0.061 million USD per square kilometre | +5.8% |
| 1998 | 0.0618 million USD per square kilometre | +1.4% |
| 1999 | 0.0635 million USD per square kilometre | +2.7% |
| 2000 | 0.0681 million USD per square kilometre | +7.3% |
| 2001 | 0.0519 million USD per square kilometre | -23.7% |
| 2002 | 0.0572 million USD per square kilometre | +10.2% |
| 2003 | 0.0695 million USD per square kilometre | +21.4% |
| 2004 | 0.0556 million USD per square kilometre | -19.9% |
| 2005 | 0.0569 million USD per square kilometre | +2.3% |
| 2006 | 0.0799 million USD per square kilometre | +40.4% |
| 2007 | 0.0624 million USD per square kilometre | -21.9% |
| 2008 | 0.0608 million USD per square kilometre | -2.6% |
| 2009 | 0.0668 million USD per square kilometre | +9.9% |
| 2010 | 0.0695 million USD per square kilometre | +4.0% |
| 2011 | 0.0638 million USD per square kilometre | -8.2% |
| 2012 | 0.0654 million USD per square kilometre | +2.6% |
| 2013 | 0.0706 million USD per square kilometre | +7.9% |
| 2014 | 0.08 million USD per square kilometre | +13.4% |
| 2015 | 0.0805 million USD per square kilometre | +0.6% |
| 2016 | 0.075 million USD per square kilometre | -6.8% |
| 2017 | 0.0729 million USD per square kilometre | -2.8% |
| 2018 | 0.08 million USD per square kilometre | +9.7% |
| 2019 | 0.0866 million USD per square kilometre | +8.3% |
| 2020 | 0.0801 million USD per square kilometre | -7.6% |
| 2021 | 0.0773 million USD per square kilometre | -3.4% |
| 2022 | 0.0799 million USD per square kilometre | +3.3% |
| 2023 | 0.0852 million USD per square kilometre | +6.6% |
Nigeria compared with similar countries
- Nigeria's 0.0852 million USD per square kilometre is above the median for lower middle income countries, which is 0.0398 million USD per square kilometre, 2.1× the median. (44 countries reporting)
- Nigeria's 0.0852 million USD per square kilometre is above the median for Sub-Saharan Africa, which is 0.0172 million USD per square kilometre, 5.0× the median. (45 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 0.0752 million USD per square kilometre | 0.045 million USD per square kilometre | 0.1143 million USD per square kilometre | 10 |
| 1980s | 0.0682 million USD per square kilometre | 0.0429 million USD per square kilometre | 0.1195 million USD per square kilometre | 10 |
| 1990s | 0.058 million USD per square kilometre | 0.0539 million USD per square kilometre | 0.0635 million USD per square kilometre | 10 |
| 2000s | 0.0629 million USD per square kilometre | 0.0519 million USD per square kilometre | 0.0799 million USD per square kilometre | 10 |
| 2010s | 0.0744 million USD per square kilometre | 0.0638 million USD per square kilometre | 0.0866 million USD per square kilometre | 10 |
| 2020s | 0.0806 million USD per square kilometre | 0.0773 million USD per square kilometre | 0.0852 million USD per square kilometre | 4 |
Countries ranked near Nigeria
- 100 Montenegro 0.0929 million USD per square kilometre compare
- 101 Chile 0.0928 million USD per square kilometre compare
- 102 Kiribati 0.0884 million USD per square kilometre compare
- 104 Jordan 0.0819 million USD per square kilometre compare
- 105 Comoros 0.0815 million USD per square kilometre compare
- 106 Cuba 0.0791 million USD 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$), annual growth rate 13.91 % change on previous year (2025)
Frequently asked questions
- What is gross fixed capital formation — value us$, 2015 prices, per square in Nigeria?
- Gross fixed capital formation — value us$, 2015 prices, per square in Nigeria was 0.0852 million USD per square kilometre in 2023, according to Statizoid (derived).
- What is the highest gross fixed capital formation — value us$, 2015 prices, per square recorded in Nigeria?
- The highest recorded value was 0.1195 million USD per square kilometre in 1981.
- What is the lowest gross fixed capital formation — value us$, 2015 prices, per square recorded in Nigeria?
- The lowest recorded value was 0.0429 million USD per square kilometre in 1987.
- How does Nigeria rank for gross fixed capital formation — value us$, 2015 prices, per square?
- Nigeria ranks 103rd out of 194 countries with data for 2023.
- Is gross fixed capital formation — value us$, 2015 prices, per square rising or falling in Nigeria?
- Over the last ten years it is up 20.7%. The long-run trend across the full record is rising.
- Where does this Nigeria data come from?
- The figures come from Statizoid (derived), published as part of Gross Fixed Capital Formation — Value US$, 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 US$, 2015 prices divided by Land area (sq. km), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Gross Fixed Capital Formation — Value US$, 2015 prices ÷ Land area (sq. km)
Computed from
- Gross Fixed Capital Formation — Value US$, 2015 prices Food and Agriculture Organization of the United Nations
- Land area FAOSTAT, Food and Agriculture Organization of the United Nations (FAO)
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Gross Fixed Capital Formation — Value US$, 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.