Subsidies (current LCU; from SNA) in Nigeria
Nigeria: Subsidies (current LCU; from SNA) was 30.95 billion current LCU; from SNA in 2007. ◆ Volatile
Subsidies in Nigeria, 2002–2007
Source: World Bank national accounts data, and OECD National Accounts data files. Measured in current LCU; from SNA.
Analysis
Nigeria recorded 30.95 billion current LCU; from SNA for subsidies in 2007. That is the highest value across all 6 years on record.
Compared with earlier readings it is up 9.8% on the previous year and up 832.9% over ten years.
Nigeria ranks 3rd of 24 countries on this measure, in the top 10%.
Subsidies (current LCU; from SNA) in Nigeria, year by year
| Year | current LCU; from SNA | Change |
|---|---|---|
| 2002 | 3.32 billion current LCU; from SNA | — |
| 2003 | 3.62 billion current LCU; from SNA | +9.0% |
| 2004 | 5.58 billion current LCU; from SNA | +54.4% |
| 2005 | 6.59 billion current LCU; from SNA | +18.0% |
| 2006 | 28.19 billion current LCU; from SNA | +327.8% |
| 2007 | 30.95 billion current LCU; from SNA | +9.8% |
Nigeria compared with similar countries
- Nigeria's 30.95 billion current LCU; from SNA is above the median for Sub-Saharan Africa, which is 170.00 million current LCU; from SNA, 182.1× the median. (23 countries reporting)
- Nigeria's 30.95 billion current LCU; from SNA is above the median for lower middle income countries, which is 122.00 million current LCU; from SNA, 253.7× the median. (12 countries reporting)
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 subsidies in Nigeria?
- Subsidies in Nigeria was 30.95 billion current LCU; from SNA in 2007, according to World Bank national accounts data, and OECD National Accounts data files.
- What is the highest subsidies recorded in Nigeria?
- The highest recorded value was 30.95 billion current LCU; from SNA in 2007.
- What is the lowest subsidies recorded in Nigeria?
- The lowest recorded value was 3.32 billion current LCU; from SNA in 2002.
- How does Nigeria rank for subsidies?
- Nigeria ranks 3rd out of 24 countries with data for 2007.
- Is subsidies rising or falling in Nigeria?
- Over the last ten years it is up 832.9%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from World Bank national accounts data, and OECD National Accounts data files, published as part of Subsidies (current LCU; from SNA). Statizoid updates them automatically from the source API.
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About this data
Subsidies are current unrequited payments that government units make to enterprises, resident producers and importers. Subsidies may be designed to influence enterprises level or type of production, or the prices at which the products are sold. (Capital grants are in the national accounts classified as capital transfers.) Subsidies consists of ‘subsidies on products’, subsidies payable per unit of a good or a service, and ‘other subsidies on production’, which cover all other subsidies enterprises receives as a consequence of engaging in production. Data are in current local currency.