Subsidies (current US$) in Nigeria
Nigeria: Subsidies (current US$) was 246.03 million current US$ in 2007. ◆ Volatile
Subsidies in Nigeria, 2002–2007
Source: World Bank country economists. Measured in current US$.
Analysis
The most recent figure for subsidies in Nigeria is 246.03 million current US$, measured in 2007. That is the highest value across all 6 years on record.
Compared with earlier readings it is up 12.3% on the previous year and up 794.2% over ten years.
Nigeria ranks 4th of 24 countries on this measure, in the top quarter.
Subsidies (current US$) in Nigeria, year by year
| Year | current US$ | Change |
|---|---|---|
| 2002 | 27.51 million current US$ | — |
| 2003 | 27.99 million current US$ | +1.7% |
| 2004 | 42.03 million current US$ | +50.1% |
| 2005 | 50.20 million current US$ | +19.5% |
| 2006 | 219.13 million current US$ | +336.5% |
| 2007 | 246.03 million current US$ | +12.3% |
Nigeria compared with similar countries
- Nigeria's 246.03 million current US$ is above the median for Sub-Saharan Africa, which is 7.15 million current US$, 34.4× the median. (23 countries reporting)
- Nigeria's 246.03 million current US$ is above the median for lower middle income countries, which is 7.22 million current US$, 34.1× the median. (12 countries reporting)
Countries ranked near Nigeria
More economy & growth data for Nigeria
- Real gdp growth, annual growth rate 22.77 % change on previous year (2024)
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.04 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 3.32 Percent per annum (2029)
- SDRs holdings, US dollar, annual growth rate 3.99 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0148 units per US$ 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 246.03 million current US$ in 2007, according to World Bank country economists.
- What is the highest subsidies recorded in Nigeria?
- The highest recorded value was 246.03 million current US$ in 2007.
- What is the lowest subsidies recorded in Nigeria?
- The lowest recorded value was 27.51 million current US$ in 2002.
- How does Nigeria rank for subsidies?
- Nigeria ranks 4th out of 24 countries with data for 2007.
- Is subsidies rising or falling in Nigeria?
- Over the last ten years it is up 794.2%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from World Bank country economists, published as part of Subsidies (current US$). 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 U.S. dollars.