Nigeria |
Gross domestic product, constant prices |
National currency |
Billions |
Source: National Statistics Office. Official re-based (2010) data for 2010-13 was published in July 2014, based on SNA 2008. Official backcasted data were published in July 2016 and 1990-2009 nominal and real GDP numbers were updated. However expenditure components of GDP are still IMF staff estimates and are subject to revision with official backcasted data.
Latest actual data: 2020
Notes: Official backcasted data were published in July 2016 and 1990-2009 nominal and real GDP numbers were updated. However expenditure components of GDP are still IMF staff estimates and are subject to revision with official backcasted data.
National accounts manual used: System of National Accounts (SNA) 2008
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2010
Chain-weighted: No
Primary domestic currency: Nigerian naira
Data last updated: 09/2021
|
70,536.350 |
72,094.095 |
70,800.544 |
72,669.383 |
74,605.871 |
76,582.914 |
78,544.135 |
80,615.601 |
82,802.781 |
2020 |
Nigeria |
Gross domestic product, constant prices |
Percent change |
|
See notes for:
Gross domestic product, constant prices (National currency).
|
1.923 |
2.208 |
-1.794 |
2.640 |
2.665 |
2.650 |
2.561 |
2.637 |
2.713 |
2020 |
Nigeria |
Gross domestic product, current prices |
National currency |
Billions |
Source: National Statistics Office. Official re-based (2010) data for 2010-13 was published in July 2014, based on SNA 2008. Official backcasted data were published in July 2016 and 1990-2009 nominal and real GDP numbers were updated. However expenditure components of GDP are still IMF staff estimates and are subject to revision with official backcasted data.
Latest actual data: 2020
Notes: Official backcasted data were published in July 2016 and 1990-2009 nominal and real GDP numbers were updated. However expenditure components of GDP are still IMF staff estimates and are subject to revision with official backcasted data.
National accounts manual used: System of National Accounts (SNA) 2008
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2010
Chain-weighted: No
Primary domestic currency: Nigerian naira
Data last updated: 09/2021
|
129,086.908 |
145,639.140 |
154,252.320 |
182,583.008 |
211,031.424 |
241,582.880 |
272,615.805 |
308,924.937 |
350,202.010 |
2020 |
Nigeria |
Gross domestic product, current prices |
U.S. dollars |
Billions |
See notes for:
Gross domestic product, current prices (National currency).
|
421.737 |
448.120 |
429.423 |
480.482 |
555.346 |
635.744 |
717.410 |
812.960 |
921.584 |
2020 |
Nigeria |
Gross domestic product, current prices |
Purchasing power parity; international dollars |
Billions |
See notes for:
Gross domestic product, current prices (National currency).
|
1,033.870 |
1,075.606 |
1,069.036 |
1,136.795 |
1,199.211 |
1,260.281 |
1,322.017 |
1,386.358 |
1,453.479 |
2020 |
Nigeria |
Gross domestic product, deflator |
Index |
|
See notes for:
Gross domestic product, constant prices (National currency)
Gross domestic product, current prices (National currency).
|
183.008 |
202.013 |
217.869 |
251.252 |
282.862 |
315.453 |
347.086 |
383.207 |
422.935 |
2020 |
Nigeria |
Gross domestic product per capita, constant prices |
National currency |
Units |
See notes for:
Gross domestic product, constant prices (National currency)
Population (Persons).
|
360,108.996 |
358,741.343 |
343,458.545 |
343,751.367 |
344,207.169 |
344,685.500 |
344,926.003 |
345,481.120 |
346,349.364 |
2012 |
Nigeria |
Gross domestic product per capita, constant prices |
Purchasing power parity; 2017 international dollar |
Units |
See notes for:
Gross domestic product, constant prices (National currency)
Population (Persons).
|
5,155.068 |
5,135.489 |
4,916.712 |
4,920.903 |
4,927.428 |
4,934.276 |
4,937.719 |
4,945.665 |
4,958.094 |
2012 |
Nigeria |
Gross domestic product per capita, current prices |
National currency |
Units |
See notes for:
Gross domestic product, current prices (National currency)
Population (Persons).
|
659,026.972 |
724,702.635 |
748,289.122 |
863,680.909 |
973,630.197 |
1,087,319.764 |
1,197,190.344 |
1,323,909.169 |
1,464,832.957 |
2012 |
Nigeria |
Gross domestic product per capita, current prices |
U.S. dollars |
Units |
See notes for:
Gross domestic product, current prices (National currency)
Population (Persons).
|
2,153.094 |
2,229.854 |
2,083.162 |
2,272.844 |
2,562.185 |
2,861.368 |
3,150.501 |
3,483.971 |
3,854.824 |
2012 |
Nigeria |
Gross domestic product per capita, current prices |
Purchasing power parity; international dollars |
Units |
See notes for:
Gross domestic product, current prices (National currency)
Population (Persons).
|
5,278.214 |
5,352.233 |
5,185.972 |
5,377.435 |
5,532.769 |
5,672.290 |
5,805.626 |
5,941.288 |
6,079.644 |
2012 |
Nigeria |
Gross domestic product based on purchasing-power-parity (PPP) share of world total |
Percent |
|
See notes for:
Gross domestic product, current prices (National currency).
|
0.801 |
0.797 |
0.810 |
0.786 |
0.770 |
0.763 |
0.757 |
0.752 |
0.748 |
2020 |
Nigeria |
Implied PPP conversion rate |
National currency per current international dollar |
|
See notes for:
Gross domestic product, current prices (National currency).
|
124.858 |
135.402 |
144.291 |
160.612 |
175.975 |
191.690 |
206.212 |
222.832 |
240.941 |
2020 |
Nigeria |
Total investment |
Percent of GDP |
|
Source: National Statistics Office. Official re-based (2010) data for 2010-13 was published in July 2014, based on SNA 2008. Official backcasted data were published in July 2016 and 1990-2009 nominal and real GDP numbers were updated. However expenditure components of GDP are still IMF staff estimates and are subject to revision with official backcasted data.
Latest actual data: 2020
Notes: Official backcasted data were published in July 2016 and 1990-2009 nominal and real GDP numbers were updated. However expenditure components of GDP are still IMF staff estimates and are subject to revision with official backcasted data.
National accounts manual used: System of National Accounts (SNA) 2008
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2010
Chain-weighted: No
Primary domestic currency: Nigerian naira
Data last updated: 09/2021
|
19.814 |
25.416 |
29.399 |
30.354 |
29.022 |
29.213 |
27.250 |
25.486 |
24.171 |
2020 |
Nigeria |
Gross national savings |
Percent of GDP |
|
Source: National Statistics Office. Official re-based (2010) data for 2010-13 was published in July 2014, based on SNA 2008. Official backcasted data were published in July 2016 and 1990-2009 nominal and real GDP numbers were updated. However expenditure components of GDP are still IMF staff estimates and are subject to revision with official backcasted data.
Latest actual data: 2020
Notes: Official backcasted data were published in July 2016 and 1990-2009 nominal and real GDP numbers were updated. However expenditure components of GDP are still IMF staff estimates and are subject to revision with official backcasted data.
National accounts manual used: System of National Accounts (SNA) 2008
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2010
Chain-weighted: No
Primary domestic currency: Nigerian naira
Data last updated: 09/2021
|
21.298 |
22.152 |
25.446 |
27.131 |
26.773 |
27.244 |
25.736 |
24.371 |
23.382 |
2020 |
Nigeria |
Inflation, average consumer prices |
Index |
|
Source: National Statistics Office
Latest actual data: 2020
Notes: Data prior to 1990 cannot be confirmed by national sources at this time.
Harmonized prices: No
Frequency of source data: Monthly
Base year: 2009. The base period is November 2009 which explains the small discrepancy in 2009.
Primary domestic currency: Nigerian naira
Data last updated: 09/2021
|
261.574 |
291.386 |
329.985 |
385.787 |
436.921 |
488.358 |
545.671 |
608.423 |
678.392 |
2020 |
Nigeria |
Inflation, average consumer prices |
Percent change |
|
See notes for:
Inflation, average consumer prices (Index).
|
12.094 |
11.397 |
13.247 |
16.910 |
13.254 |
11.773 |
11.736 |
11.500 |
11.500 |
2020 |
Nigeria |
Inflation, end of period consumer prices |
Index |
|
Source: National Statistics Office
Latest actual data: 2020
Notes: Data prior to 1990 cannot be confirmed by national sources at this time.
Harmonized prices: No
Frequency of source data: Monthly
Base year: 2009. The base period is November 2009 which explains the small discrepancy in 2009.
Primary domestic currency: Nigerian naira
Data last updated: 09/2021
|
274.570 |
307.470 |
355.910 |
409.161 |
460.715 |
516.001 |
575.341 |
641.506 |
715.279 |
2020 |
Nigeria |
Inflation, end of period consumer prices |
Percent change |
|
See notes for:
Inflation, end of period consumer prices (Index).
|
11.442 |
11.982 |
15.754 |
14.962 |
12.600 |
12.000 |
11.500 |
11.500 |
11.500 |
2020 |
Nigeria |
Volume of imports of goods and services |
Percent change |
|
Source: Central Bank
Latest actual data: 2020
Base year: 2000
Methodology used to derive volumes: Weighted average of volume changes
Formula used to derive volumes: Laspeyres-type
Chain-weighted: No
Trade System: General trade
Excluded items in trade: Re-exports; Other;. See https://customs.gov.ng/ Prohibition List for details.
Oil coverage: Primary or unrefined products; Secondary or refined products;
Valuation of exports: Free on board (FOB)
Valuation of imports: Cost, insurance, freight (CIF)
Primary domestic currency: Nigerian naira
Data last updated: 09/2021
|
27.740 |
45.106 |
-18.862 |
-0.961 |
-1.939 |
0.677 |
-3.211 |
-4.672 |
2.185 |
2020 |
Nigeria |
Volume of Imports of goods |
Percent change |
|
Source: Central Bank
Latest actual data: 2020
Base year: 2000
Methodology used to derive volumes: Weighted average of volume changes
Formula used to derive volumes: Laspeyres-type
Chain-weighted: No
Trade System: General trade
Excluded items in trade: Re-exports; Other;. See https://customs.gov.ng/ Prohibition List for details.
Oil coverage: Primary or unrefined products; Secondary or refined products;
Valuation of exports: Free on board (FOB)
Valuation of imports: Cost, insurance, freight (CIF)
Primary domestic currency: Nigerian naira
Data last updated: 09/2021
|
8.917 |
59.926 |
0.474 |
-13.736 |
-6.526 |
-1.173 |
-4.310 |
-10.563 |
1.788 |
2020 |
Nigeria |
Volume of exports of goods and services |
Percent change |
|
Source: Central Bank
Latest actual data: 2020
Base year: 2000
Methodology used to derive volumes: Weighted average of volume changes
Formula used to derive volumes: Laspeyres-type
Chain-weighted: No
Trade System: General trade
Excluded items in trade: Re-exports; Other;. See https://customs.gov.ng/ Prohibition List for details.
Oil coverage: Primary or unrefined products; Secondary or refined products;
Valuation of exports: Free on board (FOB)
Valuation of imports: Cost, insurance, freight (CIF)
Primary domestic currency: Nigerian naira
Data last updated: 09/2021
|
0.050 |
18.069 |
-14.925 |
-9.737 |
0.042 |
-1.112 |
-2.039 |
-0.534 |
5.667 |
2020 |
Nigeria |
Volume of exports of goods |
Percent change |
|
Source: Central Bank
Latest actual data: 2020
Base year: 2000
Methodology used to derive volumes: Weighted average of volume changes
Formula used to derive volumes: Laspeyres-type
Chain-weighted: No
Trade System: General trade
Excluded items in trade: Re-exports; Other;. See https://customs.gov.ng/ Prohibition List for details.
Oil coverage: Primary or unrefined products; Secondary or refined products;
Valuation of exports: Free on board (FOB)
Valuation of imports: Cost, insurance, freight (CIF)
Primary domestic currency: Nigerian naira
Data last updated: 09/2021
|
2.935 |
18.346 |
-17.599 |
-8.474 |
-0.495 |
-2.077 |
-4.296 |
-3.013 |
3.851 |
2020 |
Nigeria |
Unemployment rate |
Percent of total labor force |
|
Source: National Statistics Office
Latest actual data: 2017. There is no data for the period between 2018Q3 and 2020Q2 and for 2020Q3. Latest actual data available from the source is 2020Q4.
Employment type: The new definition of unemployment uses a variant of the ILO definition. People who worked 20-40 hours are now reported as underemployed rather than unemployed.
Primary domestic currency: Nigerian naira
Data last updated: 09/2021
|
22.562 |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
n/a |
2017 |
Nigeria |
Population |
Persons |
Millions |
Source: International Financial Institution
Latest actual data: 2012
Primary domestic currency: Nigerian naira
Data last updated: 09/2021
|
195.875 |
200.964 |
206.140 |
211.401 |
216.747 |
222.182 |
227.713 |
233.343 |
239.073 |
2012 |
Nigeria |
General government revenue |
National currency |
Billions |
Source: Ministry of Finance or Treasury
Latest actual data: 2020
Fiscal assumptions: Historical data series, annual budget and MTEF at the Federal Government level, and additional data from the authorities
Start/end months of reporting year: January/December
GFS Manual used: Government Finance Statistics Manual (GFSM) 2001
Basis of recording: Cash. Fiscal data are based on execution data received from the authorities.
General government includes: Central Government; State Government; Local Government;
Valuation of public debt: Current market value
Instruments included in gross and net debt: Currency and Deposits;. AMCON debt and CBN overdraft.
Primary domestic currency: Nigerian naira
Data last updated: 09/2021
|
10,978.482 |
11,405.296 |
9,750.794 |
13,195.707 |
14,599.478 |
15,832.516 |
17,971.189 |
20,171.204 |
22,754.686 |
2020 |
Nigeria |
General government revenue |
Percent of GDP |
|
See notes for:
General government revenue (National currency).
|
8.505 |
7.831 |
6.321 |
7.227 |
6.918 |
6.554 |
6.592 |
6.529 |
6.498 |
2020 |
Nigeria |
General government total expenditure |
National currency |
Billions |
Source: Ministry of Finance or Treasury
Latest actual data: 2020
Fiscal assumptions: Historical data series, annual budget and MTEF at the Federal Government level, and additional data from the authorities
Start/end months of reporting year: January/December
GFS Manual used: Government Finance Statistics Manual (GFSM) 2001
Basis of recording: Cash. Fiscal data are based on execution data received from the authorities.
General government includes: Central Government; State Government; Local Government;
Valuation of public debt: Current market value
Instruments included in gross and net debt: Currency and Deposits;. AMCON debt and CBN overdraft.
Primary domestic currency: Nigerian naira
Data last updated: 09/2021
|
16,548.560 |
18,236.349 |
18,667.693 |
24,348.074 |
27,183.078 |
29,128.473 |
33,153.967 |
38,507.501 |
44,059.721 |
2020 |
Nigeria |
General government total expenditure |
Percent of GDP |
|
See notes for:
General government total expenditure (National currency).
|
12.820 |
12.522 |
12.102 |
13.335 |
12.881 |
12.057 |
12.161 |
12.465 |
12.581 |
2020 |
Nigeria |
General government net lending/borrowing |
National currency |
Billions |
Source: Ministry of Finance or Treasury
Latest actual data: 2020
Fiscal assumptions: Historical data series, annual budget and MTEF at the Federal Government level, and additional data from the authorities
Start/end months of reporting year: January/December
GFS Manual used: Government Finance Statistics Manual (GFSM) 2001
Basis of recording: Cash. Fiscal data are based on execution data received from the authorities.
General government includes: Central Government; State Government; Local Government;
Valuation of public debt: Current market value
Instruments included in gross and net debt: Currency and Deposits;. AMCON debt and CBN overdraft.
Primary domestic currency: Nigerian naira
Data last updated: 09/2021
|
-5,570.078 |
-6,831.054 |
-8,916.899 |
-11,152.366 |
-12,583.601 |
-13,295.956 |
-15,182.778 |
-18,336.297 |
-21,305.035 |
2020 |
Nigeria |
General government net lending/borrowing |
Percent of GDP |
|
See notes for:
General government net lending/borrowing (National currency).
|
-4.315 |
-4.690 |
-5.781 |
-6.108 |
-5.963 |
-5.504 |
-5.569 |
-5.936 |
-6.084 |
2020 |
Nigeria |
General government primary net lending/borrowing |
National currency |
Billions |
Source: Ministry of Finance or Treasury
Latest actual data: 2020
Fiscal assumptions: Historical data series, annual budget and MTEF at the Federal Government level, and additional data from the authorities
Start/end months of reporting year: January/December
GFS Manual used: Government Finance Statistics Manual (GFSM) 2001
Basis of recording: Cash. Fiscal data are based on execution data received from the authorities.
General government includes: Central Government; State Government; Local Government;
Valuation of public debt: Current market value
Instruments included in gross and net debt: Currency and Deposits;. AMCON debt and CBN overdraft.
Primary domestic currency: Nigerian naira
Data last updated: 09/2021
|
-3,383.965 |
-4,388.714 |
-5,656.004 |
-8,257.745 |
-8,820.797 |
-8,421.718 |
-8,767.270 |
-10,036.126 |
-10,665.477 |
2020 |
Nigeria |
General government primary net lending/borrowing |
Percent of GDP |
|
See notes for:
General government primary net lending/borrowing (National currency).
|
-2.621 |
-3.013 |
-3.667 |
-4.523 |
-4.180 |
-3.486 |
-3.216 |
-3.249 |
-3.046 |
2020 |
Nigeria |
General government net debt |
National currency |
Billions |
Source: Ministry of Finance or Treasury
Latest actual data: 2020
Fiscal assumptions: Historical data series, annual budget and MTEF at the Federal Government level, and additional data from the authorities
Start/end months of reporting year: January/December
GFS Manual used: Government Finance Statistics Manual (GFSM) 2001
Basis of recording: Cash. Fiscal data are based on execution data received from the authorities.
General government includes: Central Government; State Government; Local Government;
Valuation of public debt: Current market value
Instruments included in gross and net debt: Currency and Deposits;. AMCON debt and CBN overdraft.
Primary domestic currency: Nigerian naira
Data last updated: 09/2021
|
30,325.355 |
37,065.768 |
53,320.110 |
64,374.021 |
76,999.459 |
90,213.191 |
105,851.233 |
124,651.757 |
146,423.086 |
2020 |
Nigeria |
General government net debt |
Percent of GDP |
|
See notes for:
General government net debt (National currency).
|
23.492 |
25.450 |
34.567 |
35.257 |
36.487 |
37.343 |
38.828 |
40.350 |
41.811 |
2020 |
Nigeria |
General government gross debt |
National currency |
Billions |
Source: Ministry of Finance or Treasury
Latest actual data: 2020
Fiscal assumptions: Historical data series, annual budget and MTEF at the Federal Government level, and additional data from the authorities
Start/end months of reporting year: January/December
GFS Manual used: Government Finance Statistics Manual (GFSM) 2001
Basis of recording: Cash. Fiscal data are based on execution data received from the authorities.
General government includes: Central Government; State Government; Local Government;
Valuation of public debt: Current market value
Instruments included in gross and net debt: Currency and Deposits;. AMCON debt and CBN overdraft.
Primary domestic currency: Nigerian naira
Data last updated: 09/2021
|
35,743.221 |
42,483.634 |
53,987.977 |
65,199.197 |
77,824.635 |
91,038.367 |
106,676.408 |
125,476.932 |
147,248.262 |
2020 |
Nigeria |
General government gross debt |
Percent of GDP |
|
See notes for:
General government gross debt (National currency).
|
27.689 |
29.170 |
35.000 |
35.709 |
36.878 |
37.684 |
39.131 |
40.617 |
42.047 |
2020 |
Nigeria |
Gross domestic product corresponding to fiscal year, current prices |
National currency |
Billions |
Source: Ministry of Finance or Treasury
Latest actual data: 2020
Fiscal assumptions: Historical data series, annual budget and MTEF at the Federal Government level, and additional data from the authorities
Start/end months of reporting year: January/December
GFS Manual used: Government Finance Statistics Manual (GFSM) 2001
Basis of recording: Cash. Fiscal data are based on execution data received from the authorities.
General government includes: Central Government; State Government; Local Government;
Valuation of public debt: Current market value
Instruments included in gross and net debt: Currency and Deposits;. AMCON debt and CBN overdraft.
Primary domestic currency: Nigerian naira
Data last updated: 09/2021
|
129,086.908 |
145,639.140 |
154,252.320 |
182,583.008 |
211,031.424 |
241,582.880 |
272,615.805 |
308,924.937 |
350,202.010 |
2020 |
Nigeria |
Current account balance |
U.S. dollars |
Billions |
Source: Central Bank. IMF Statistics Department
Latest actual data: 2020
Notes: Data prior to 1990 cannot be confirmed by national sources at this time.
BOP Manual used: Balance of Payments and International Investment Position Manual, sixth edition (BPM6)
Primary domestic currency: Nigerian naira
Data last updated: 09/2021
|
6.261 |
-14.627 |
-16.976 |
-15.486 |
-12.487 |
-12.513 |
-10.866 |
-9.059 |
-7.273 |
2020 |
Nigeria |
Current account balance |
Percent of GDP |
|
See notes for:
Gross domestic product, current prices (National currency)
Current account balance (U.S. dollars).
|
1.484 |
-3.264 |
-3.953 |
-3.223 |
-2.248 |
-1.968 |
-1.515 |
-1.114 |
-0.789 |
2020 |