Real gdp growth in Nigeria
Nigeria: Real gdp growth was 4.07 in 2024. ◆ Volatile
Real gdp growth in Nigeria, 1991–2024
Source: Our World in Data.
Analysis
The most recent figure for real gdp growth in Nigeria is 4.07, measured in 2024.
Compared with earlier readings it is up 22.8% on the previous year and down 35.5% over ten years.
Over the whole period, real gdp growth in Nigeria peaked at 14.6 in 2002 and was at its lowest, -6.37, in 2020.
Nigeria ranks 71st of 196 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Real gdp growth in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 1991 | -0.552 | — |
| 1992 | 2.19 | -497.3% |
| 1993 | 1.57 | -28.5% |
| 1994 | 0.257 | -83.6% |
| 1995 | 1.87 | +628.4% |
| 1996 | 4.05 | +116.5% |
| 1997 | 2.89 | -28.8% |
| 1998 | 2.5 | -13.5% |
| 1999 | 0.522 | -79.1% |
| 2000 | 5.52 | +957.3% |
| 2001 | 6.67 | +20.8% |
| 2002 | 14.6 | +119.0% |
| 2003 | 9.5 | -34.9% |
| 2004 | 10.44 | +9.9% |
| 2005 | 7.01 | -32.9% |
| 2006 | 6.73 | -4.0% |
| 2007 | 7.32 | +8.8% |
| 2008 | 7.2 | -1.6% |
| 2009 | 8.35 | +16.0% |
| 2010 | 11.26 | +34.8% |
| 2011 | 4.89 | -56.6% |
| 2012 | 4.28 | -12.4% |
| 2013 | 5.39 | +26.1% |
| 2014 | 6.31 | +17.0% |
| 2015 | 2.65 | -58.0% |
| 2016 | -1.62 | -160.9% |
| 2017 | 0.806 | -149.8% |
| 2018 | 1.92 | +138.6% |
| 2019 | 2.21 | +14.8% |
| 2020 | -6.37 | -388.5% |
| 2021 | 1.11 | -117.4% |
| 2022 | 4.32 | +289.4% |
| 2023 | 3.32 | -23.2% |
| 2024 | 4.07 | +22.8% |
Nigeria compared with similar countries
- Nigeria's 4.07 is above the median for lower middle income countries, which is 4.07, 1.0× the median. (47 countries reporting)
- Nigeria's 4.07 is below the median for Sub-Saharan Africa, which is 4.52, 90% of the median. (48 countries reporting)
Biggest year-on-year movements
Years where Real gdp growth in Nigeria changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2000 | +957.3% | 0.522 | 5.52 |
| 1995 | +628.4% | 0.257 | 1.87 |
| 1992 | +497.3% | -0.552 | 2.19 |
| 2020 | -388.5% | 2.21 | -6.37 |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 1.7 | -0.552 | 4.05 | 9 |
| 2000s | 8.33 | 5.52 | 14.6 | 10 |
| 2010s | 3.81 | -1.62 | 11.26 | 10 |
| 2020s | 1.29 | -6.37 | 4.32 | 5 |
Countries ranked near Nigeria
More economy & growth data for Nigeria
- Real gdp growth, annual growth rate 22.77 % change on previous year (2024)
- 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)
Frequently asked questions
- What is real gdp growth in Nigeria?
- Real gdp growth in Nigeria was 4.07 in 2024, according to Our World in Data.
- What is the highest real gdp growth recorded in Nigeria?
- The highest recorded value was 14.6 in 2002.
- What is the lowest real gdp growth recorded in Nigeria?
- The lowest recorded value was -6.37 in 2020.
- How does Nigeria rank for real gdp growth?
- Nigeria ranks 71st out of 196 countries with data for 2024.
- Is real gdp growth rising or falling in Nigeria?
- Over the last ten years it is down 35.5%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from Our World in Data, published as part of Real gdp growth. Statizoid updates them automatically from the source API.
Download this data
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