Gross domestic product (GDP) in Nigeria
Nigeria: Gross domestic product (GDP) was 345.49 billion current GBP in 2014. ◆ Volatile
Latest (2014)
345.49 billion current GBP
Change on year
up 4.9%
World rank
22nd
of 200 countries
All-time high
345.49 billion current GBP
in 2014
All-time low
525.00 million current GBP
in 1950
Years of data
65
1950–2014
Gross domestic product (GDP) in Nigeria, 1950–2014
Source: Fouquin and Hugot (2016) – processed by Our World in Data. Measured in current GBP.
Analysis
Nigeria recorded 345.49 billion current GBP for gross domestic product (gdp) in 2014. That is the highest value across all 65 years on record.
That represents a change of up 4.9% on the previous year and up 620.1% over ten years.
Over the whole period, gross domestic product (gdp) in Nigeria peaked at 345.49 billion current GBP in 2014 and was at its lowest, 525.00 million current GBP, in 1950.
That places Nigeria 22nd out of 200 countries with data for 2014, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross domestic product (GDP) in Nigeria, year by year
| Year | current GBP | Change |
|---|---|---|
| 1950 | 525.00 million current GBP | — |
| 1951 | 587.00 million current GBP | +11.8% |
| 1952 | 631.00 million current GBP | +7.5% |
| 1953 | 684.00 million current GBP | +8.4% |
| 1954 | 796.00 million current GBP | +16.4% |
| 1955 | 852.00 million current GBP | +7.0% |
| 1956 | 901.00 million current GBP | +5.8% |
| 1957 | 940.00 million current GBP | +4.3% |
| 1958 | 970.00 million current GBP | +3.2% |
| 1959 | 1.04 billion current GBP | +6.8% |
| 1960 | 1.19 billion current GBP | +14.8% |
| 1961 | 1.26 billion current GBP | +5.8% |
| 1962 | 1.39 billion current GBP | +10.9% |
| 1963 | 1.47 billion current GBP | +5.6% |
| 1964 | 1.57 billion current GBP | +6.8% |
| 1965 | 1.68 billion current GBP | +6.9% |
| 1966 | 1.81 billion current GBP | +7.5% |
| 1967 | 1.50 billion current GBP | -17.2% |
| 1968 | 1.68 billion current GBP | +12.2% |
| 1969 | 2.25 billion current GBP | +33.8% |
| 1970 | 3.28 billion current GBP | +46.0% |
| 1971 | 4.09 billion current GBP | +24.8% |
| 1972 | 4.91 billion current GBP | +20.1% |
| 1973 | 6.19 billion current GBP | +25.9% |
| 1974 | 10.63 billion current GBP | +71.7% |
| 1975 | 12.56 billion current GBP | +18.1% |
| 1976 | 20.21 billion current GBP | +60.9% |
| 1977 | 20.66 billion current GBP | +2.2% |
| 1978 | 19.05 billion current GBP | -7.8% |
| 1979 | 22.32 billion current GBP | +17.1% |
| 1980 | 27.63 billion current GBP | +23.8% |
| 1981 | 30.39 billion current GBP | +10.0% |
| 1982 | 29.42 billion current GBP | -3.2% |
| 1983 | 23.39 billion current GBP | -20.5% |
| 1984 | 21.43 billion current GBP | -8.4% |
| 1985 | 22.50 billion current GBP | +5.0% |
| 1986 | 14.14 billion current GBP | -37.2% |
| 1987 | 14.74 billion current GBP | +4.3% |
| 1988 | 13.08 billion current GBP | -11.3% |
| 1989 | 14.81 billion current GBP | +13.2% |
| 1990 | 17.32 billion current GBP | +17.0% |
| 1991 | 15.53 billion current GBP | -10.3% |
| 1992 | 16.69 billion current GBP | +7.5% |
| 1993 | 10.53 billion current GBP | -36.9% |
| 1994 | 11.82 billion current GBP | +12.3% |
| 1995 | 18.09 billion current GBP | +53.1% |
| 1996 | 22.43 billion current GBP | +24.0% |
| 1997 | 21.88 billion current GBP | -2.4% |
| 1998 | 19.33 billion current GBP | -11.7% |
| 1999 | 22.17 billion current GBP | +14.7% |
| 2000 | 30.66 billion current GBP | +38.3% |
| 2001 | 30.66 billion current GBP | +0.0% |
| 2002 | 39.44 billion current GBP | +28.6% |
| 2003 | 41.44 billion current GBP | +5.1% |
| 2004 | 47.98 billion current GBP | +15.8% |
| 2005 | 61.74 billion current GBP | +28.7% |
| 2006 | 79.04 billion current GBP | +28.0% |
| 2007 | 83.19 billion current GBP | +5.2% |
| 2008 | 113.18 billion current GBP | +36.1% |
| 2009 | 108.79 billion current GBP | -3.9% |
| 2010 | 238.85 billion current GBP | +119.5% |
| 2011 | 256.99 billion current GBP | +7.6% |
| 2012 | 291.81 billion current GBP | +13.5% |
| 2013 | 329.40 billion current GBP | +12.9% |
| 2014 | 345.49 billion current GBP | +4.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1950s | 792.20 million current GBP | 525.00 million current GBP | 1.04 billion current GBP | 10 |
| 1960s | 1.58 billion current GBP | 1.19 billion current GBP | 2.25 billion current GBP | 10 |
| 1970s | 12.39 billion current GBP | 3.28 billion current GBP | 22.32 billion current GBP | 10 |
| 1980s | 21.15 billion current GBP | 13.08 billion current GBP | 30.39 billion current GBP | 10 |
| 1990s | 17.58 billion current GBP | 10.53 billion current GBP | 22.43 billion current GBP | 10 |
| 2000s | 63.61 billion current GBP | 30.66 billion current GBP | 113.18 billion current GBP | 10 |
| 2010s | 292.51 billion current GBP | 238.85 billion current GBP | 345.49 billion current GBP | 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)
- Gross value added at basic prices (GVA) (current US$), annual growth 15.1 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current US$), per unit of GDP 0.9765 current US$ per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current US$), per capita 1,196 current US$ per person (2025)
- Gross value added at basic prices (GVA) (current LCU), annual growth 18.25 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 1,483 current LCU per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current LCU), per capita 1.82 million current LCU per person (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), annual 3.87 % change on previous year (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), per unit 1.88 constant 2015 US$ per US$ of GDP (2025)
Frequently asked questions
- What is gross domestic product (gdp) in Nigeria?
- Gross domestic product (gdp) in Nigeria was 345.49 billion current GBP in 2014, according to Fouquin and Hugot (2016) – processed by Our World in Data.
- What is the highest gross domestic product (gdp) recorded in Nigeria?
- The highest recorded value was 345.49 billion current GBP in 2014.
- What is the lowest gross domestic product (gdp) recorded in Nigeria?
- The lowest recorded value was 525.00 million current GBP in 1950.
- How does Nigeria rank for gross domestic product (gdp)?
- Nigeria ranks 22nd out of 200 countries with data for 2014.
- Is gross domestic product (gdp) rising or falling in Nigeria?
- Over the last ten years it is up 620.1%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from Fouquin and Hugot (2016) – processed by Our World in Data, published as part of Gross domestic product (GDP). Statizoid updates them automatically from the source API.
Download this data
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About this data
This data is expressed in British pounds. It is not adjusted for inflation or differences in living costs between countries.