Gross Fixed Capital Formation — Value US$ (US Value) in Nigeria
Nigeria: Gross Fixed Capital Formation — Value US$ (US Value) was 60,926 million USD in 2024. ◆ Volatile
Gross Fixed Capital Formation — Value US$ in Nigeria, 1970–2024
Source: Food and Agriculture Organization of the United Nations. Measured in million USD.
Analysis
The most recent figure for gross fixed capital formation — value us$ in Nigeria is 60,926 million USD, measured in 2024.
The figure is down 54.0% on the previous year and down 28.9% over ten years.
Over the whole period, gross fixed capital formation — value us$ in Nigeria peaked at 201,591 million USD in 1981 and was at its lowest, 18,790 million USD, in 1995.
That places Nigeria 56th out of 235 countries with data for 2024, putting it 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 US$ (US Value) in Nigeria, year by year
| Year | million USD | Change |
|---|---|---|
| 1970 | 23,304 million USD | — |
| 1971 | 27,007 million USD | +15.9% |
| 1972 | 33,926 million USD | +25.6% |
| 1973 | 36,604 million USD | +7.9% |
| 1974 | 44,122 million USD | +20.5% |
| 1975 | 71,566 million USD | +62.2% |
| 1976 | 114,489 million USD | +60.0% |
| 1977 | 137,932 million USD | +20.5% |
| 1978 | 144,632 million USD | +4.9% |
| 1979 | 148,261 million USD | +2.5% |
| 1980 | 187,845 million USD | +26.7% |
| 1981 | 201,591 million USD | +7.3% |
| 1982 | 190,206 million USD | -5.6% |
| 1983 | 166,016 million USD | -12.7% |
| 1984 | 127,564 million USD | -23.2% |
| 1985 | 97,502 million USD | -23.6% |
| 1986 | 62,048 million USD | -36.4% |
| 1987 | 30,493 million USD | -50.9% |
| 1988 | 30,438 million USD | -0.2% |
| 1989 | 29,567 million USD | -2.9% |
| 1990 | 32,689 million USD | +10.6% |
| 1991 | 28,820 million USD | -11.8% |
| 1992 | 22,928 million USD | -20.4% |
| 1993 | 25,340 million USD | +10.5% |
| 1994 | 20,824 million USD | -17.8% |
| 1995 | 18,790 million USD | -9.8% |
| 1996 | 19,602 million USD | +4.3% |
| 1997 | 21,558 million USD | +10.0% |
| 1998 | 23,604 million USD | +9.5% |
| 1999 | 22,727 million USD | -3.7% |
| 2000 | 23,647 million USD | +4.0% |
| 2001 | 22,237 million USD | -6.0% |
| 2002 | 25,534 million USD | +14.8% |
| 2003 | 29,764 million USD | +16.6% |
| 2004 | 35,547 million USD | +19.4% |
| 2005 | 43,974 million USD | +23.7% |
| 2006 | 61,780 million USD | +40.5% |
| 2007 | 55,621 million USD | -10.0% |
| 2008 | 63,553 million USD | +14.3% |
| 2009 | 61,641 million USD | -3.0% |
| 2010 | 61,099 million USD | -0.9% |
| 2011 | 64,325 million USD | +5.3% |
| 2012 | 65,282 million USD | +1.5% |
| 2013 | 72,964 million USD | +11.8% |
| 2014 | 85,749 million USD | +17.5% |
| 2015 | 73,333 million USD | -14.5% |
| 2016 | 59,476 million USD | -18.9% |
| 2017 | 55,293 million USD | -7.0% |
| 2018 | 80,208 million USD | +45.1% |
| 2019 | 116,851 million USD | +45.7% |
| 2020 | 123,148 million USD | +5.4% |
| 2021 | 145,316 million USD | +18.0% |
| 2022 | 153,123 million USD | +5.4% |
| 2023 | 132,588 million USD | -13.4% |
| 2024 | 60,926 million USD | -54.0% |
Nigeria compared with similar countries
- Nigeria's 60,926 million USD is above the median for lower middle income countries, which is 5,205 million USD, 11.7× the median. (44 countries reporting)
- Nigeria's 60,926 million USD is above the median for Sub-Saharan Africa, which is 3,840 million USD, 15.9× the median. (45 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 78,184 million USD | 23,304 million USD | 148,261 million USD | 10 |
| 1980s | 112,327 million USD | 29,567 million USD | 201,591 million USD | 10 |
| 1990s | 23,688 million USD | 18,790 million USD | 32,689 million USD | 10 |
| 2000s | 42,330 million USD | 22,237 million USD | 63,553 million USD | 10 |
| 2010s | 73,458 million USD | 55,293 million USD | 116,851 million USD | 10 |
| 2020s | 123,020 million USD | 60,926 million USD | 153,123 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$ in Nigeria?
- Gross fixed capital formation — value us$ in Nigeria was 60,926 million USD in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross fixed capital formation — value us$ recorded in Nigeria?
- The highest recorded value was 201,591 million USD in 1981.
- What is the lowest gross fixed capital formation — value us$ recorded in Nigeria?
- The lowest recorded value was 18,790 million USD in 1995.
- How does Nigeria rank for gross fixed capital formation — value us$?
- Nigeria ranks 56th out of 235 countries with data for 2024.
- Is gross fixed capital formation — value us$ rising or falling in Nigeria?
- Over the last ten years it is down 28.9%. The long-run trend across the full record is volatile.
- 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$. Statizoid updates them automatically from the source API.
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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).