Gross Fixed Capital Formation — Value US$, 2015 prices (US 2015) in Nigeria
Nigeria: Gross Fixed Capital Formation — Value US$, 2015 prices was 78,450 million USD in 2024. ▲ Rising
Gross Fixed Capital Formation — Value US$, 2015 prices in Nigeria, 1970–2024
Source: Food and Agriculture Organization of the United Nations. Measured in million USD.
Analysis
Nigeria recorded 78,450 million USD for gross fixed capital formation — value us$, 2015 prices in 2024.
Compared with earlier readings it is up 1.1% on the previous year and up 7.6% over ten years.
Over the whole period, gross fixed capital formation — value us$, 2015 prices in Nigeria peaked at 108,864 million USD in 1981 and was at its lowest, 39,085 million USD, in 1987.
Nigeria ranks 45th of 235 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 55 years of available data.
Gross Fixed Capital Formation — Value US$, 2015 prices in Nigeria, year by year
| Year | million USD | Change |
|---|---|---|
| 1970 | 40,995 million USD | — |
| 1971 | 44,382 million USD | +8.3% |
| 1972 | 48,910 million USD | +10.2% |
| 1973 | 57,413 million USD | +17.4% |
| 1974 | 46,667 million USD | -18.7% |
| 1975 | 62,666 million USD | +34.3% |
| 1976 | 88,385 million USD | +41.0% |
| 1977 | 104,105 million USD | +17.8% |
| 1978 | 102,113 million USD | -1.9% |
| 1979 | 89,425 million USD | -12.4% |
| 1980 | 95,227 million USD | +6.5% |
| 1981 | 108,864 million USD | +14.3% |
| 1982 | 88,898 million USD | -18.3% |
| 1983 | 70,313 million USD | -20.9% |
| 1984 | 49,099 million USD | -30.2% |
| 1985 | 41,590 million USD | -15.3% |
| 1986 | 41,681 million USD | +0.2% |
| 1987 | 39,085 million USD | -6.2% |
| 1988 | 41,697 million USD | +6.7% |
| 1989 | 44,415 million USD | +6.5% |
| 1990 | 50,546 million USD | +13.8% |
| 1991 | 49,919 million USD | -1.2% |
| 1992 | 50,175 million USD | +0.5% |
| 1993 | 53,955 million USD | +7.5% |
| 1994 | 52,629 million USD | -2.5% |
| 1995 | 49,132 million USD | -6.6% |
| 1996 | 52,470 million USD | +6.8% |
| 1997 | 55,538 million USD | +5.8% |
| 1998 | 56,312 million USD | +1.4% |
| 1999 | 57,818 million USD | +2.7% |
| 2000 | 62,031 million USD | +7.3% |
| 2001 | 47,300 million USD | -23.7% |
| 2002 | 52,122 million USD | +10.2% |
| 2003 | 63,280 million USD | +21.4% |
| 2004 | 50,664 million USD | -19.9% |
| 2005 | 51,851 million USD | +2.3% |
| 2006 | 72,793 million USD | +40.4% |
| 2007 | 56,855 million USD | -21.9% |
| 2008 | 55,376 million USD | -2.6% |
| 2009 | 60,872 million USD | +9.9% |
| 2010 | 63,314 million USD | +4.0% |
| 2011 | 58,093 million USD | -8.2% |
| 2012 | 59,575 million USD | +2.6% |
| 2013 | 64,260 million USD | +7.9% |
| 2014 | 72,888 million USD | +13.4% |
| 2015 | 73,333 million USD | +0.6% |
| 2016 | 68,350 million USD | -6.8% |
| 2017 | 66,407 million USD | -2.8% |
| 2018 | 72,874 million USD | +9.7% |
| 2019 | 78,916 million USD | +8.3% |
| 2020 | 72,954 million USD | -7.6% |
| 2021 | 70,441 million USD | -3.4% |
| 2022 | 72,784 million USD | +3.3% |
| 2023 | 77,566 million USD | +6.6% |
| 2024 | 78,450 million USD | +1.1% |
Nigeria compared with similar countries
- Nigeria's 78,450 million USD is above the median for lower middle income countries, which is 5,259 million USD, 14.9× the median. (44 countries reporting)
- Nigeria's 78,450 million USD is above the median for Sub-Saharan Africa, which is 3,315 million USD, 23.7× the median. (45 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 68,506 million USD | 40,995 million USD | 104,105 million USD | 10 |
| 1980s | 62,087 million USD | 39,085 million USD | 108,864 million USD | 10 |
| 1990s | 52,850 million USD | 49,132 million USD | 57,818 million USD | 10 |
| 2000s | 57,314 million USD | 47,300 million USD | 72,793 million USD | 10 |
| 2010s | 67,801 million USD | 58,093 million USD | 78,916 million USD | 10 |
| 2020s | 74,439 million USD | 70,441 million USD | 78,450 million USD | 5 |
Countries ranked near Nigeria
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)
- SDRs holdings, US dollar, annual growth rate 3.99 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0148 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 18.13 units per person (2025)
- SDRs holdings, SDR, annual growth rate -0.9704 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0108 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 13.24 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate -17.26 % change on previous year (2025)
- IMF holdings of currency, US dollar, per unit of GDP 0.0107 units per US$ of GDP (2025)
Frequently asked questions
- What is gross fixed capital formation — value us$, 2015 prices in Nigeria?
- Gross fixed capital formation — value us$, 2015 prices in Nigeria was 78,450 million USD in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross fixed capital formation — value us$, 2015 prices recorded in Nigeria?
- The highest recorded value was 108,864 million USD in 1981.
- What is the lowest gross fixed capital formation — value us$, 2015 prices recorded in Nigeria?
- The lowest recorded value was 39,085 million USD in 1987.
- How does Nigeria rank for gross fixed capital formation — value us$, 2015 prices?
- Nigeria ranks 45th out of 235 countries with data for 2024.
- Is gross fixed capital formation — value us$, 2015 prices rising or falling in Nigeria?
- Over the last ten years it is up 7.6%. The long-run trend across the full record is rising.
- 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 — Value US$, 2015 prices. Statizoid updates them automatically from the source API.
Download this data
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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).