Economy of Nigeria. Statistics, Data and Indicators
Nigeria
| 28B | Credit rank #97 |
| N/A | Quality of life # |
| 149 | Corruption rank#131 |
| 131 | Ease of doing business#130 |
Nigeria Major Economic Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 432 USD Billion | 2020 |
| GDP Annual Growth Rate | 0.51 % | 1Q/21 |
| GDP Growth Rate | -13.9 % | 1Q/21 |
| GDP per capita | 2273 USD | 2020 |
| Inflation Rate YoY | 17.75 % | Jun/21 |
| Interest Rate | 11.5 % | May/21 |
| Unemployment Rate | 33.3 % | 4Q/20 |
| Balance of Trade | -1123290 NGN Million | -2.73 B USD | Mar/21 |
| Current Account | -1751 USD Million | -1.751 B USD | 1Q/21 |
| Foreign Exchange Reserves | 33420 USD Million | 33.42 B USD | Jun/21 |
GDP
432
USD Billion
#34 from 174 countries
GDP per capita
2273
USD
#121 from 169 countries
GDP Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 432 USD Billion | 2020 |
| GDP Annual Growth Rate | 0.51 % | 1Q/21 |
| GDP Growth Rate | -13.9 % | 1Q/21 |
| GDP per capita | 2273 USD | 2020 |
| GDP Constant Prices | 16826890 NGN Million | 40.89 B USD | 1Q/21 |
| GDP per capita PPP | 4917 USD | 2020 |
| GDP From Agriculture | 3760881 NGN Million | 9.139 B USD | 1Q/21 |
| GDP From Construction | 692521 NGN Million | 1.683 B USD | 1Q/21 |
| GDP From Manufacturing | 1670394 NGN Million | 4.059 B USD | 1Q/21 |
| GDP From Mining | 1556074 NGN Million | 3.781 B USD | 1Q/21 |
| GDP From Public Administration | 278241 NGN Million | 0.676 B USD | 1Q/21 |
| GDP From Services | 6836847 NGN Million | 16.614 B USD | 1Q/21 |
| GDP From Transport | 231805 NGN Million | 0.563 B USD | 1Q/21 |
| GDP From Utilities | 394016 NGN Million | 0.957 B USD | 1Q/21 |
Budget Indicators
| Indicator | Data | Period |
|---|---|---|
| Government Debt to GDP | 34.98 % | 2020 |
| Government Budget Value | -1484 NGN Million | -0.004 USD Billion | 4Q/20 |
| Government Spending | 1409721 NGN Million | 3.426 USD Billion | 4Q/20 |
| Government Revenues | 904 NGN Billion | 2.197 USD Billion | 4Q/20 |
| Fiscal Expenditure | 2387 NGN Billion | 5.8 B USD | 4Q/20 |
| Government Budget to GDP | -3.8 % | 2020 |
| Military Expenditure | 2403 USD Million | 2.403 B USD | 2020 |
Inflation Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Price Index (CPI) | 384 index points | Jun/21 |
| Food Inflation | 21.83 % | Jun/21 |
| Gasoline Prices | 0.43 USD/Liter | Jun/21 |
| GDP Deflator | 224 index points | 4Q/20 |
| Inflation Rate YoY | 17.75 % | Jun/21 |
| Inflation Rate Mom | 1.06 % | Jun/21 |
| Core Consumer Prices | 334 Index Points | Jun/21 |
| Core Inflation Rate | 13.09 % | Jun/21 |
| CPI Housing Utilities | 337 Index Points | Jun/21 |
| CPI Transportation | 338 Index Points | Jun/21 |
Trade Indicators
| Indicator | Data | Period |
|---|---|---|
| Current Account to GDP | -4.2 % | 2020 |
| Balance of Trade | -1123290 NGN Million | -2.73 USD Billion | Mar/21 |
| Capital Flows | 7887 USD Million | 7.887 USD Billion | 1Q/21 |
| Current Account | -1751 USD Million | -1.751 USD Billion | 1Q/21 |
| Exports | 1070267 NGN Million | 2.601 USD Billion | Mar/21 |
| External Debt | 32860 USD Million | 32.86 USD Billion | 1Q/21 |
| Foreign Exchange Reserves | 33420 USD Million | 33.42 USD Billion | Jun/21 |
| Imports | 2193557 NGN Million | 5.33 USD Billion | Mar/21 |
| Terms of Trade | 100 Index Points | Dec/20 |
Money Indicators
| Indicator | Data | Period |
|---|---|---|
| Gold Reserves | 21.46 Tonnes | 1Q/21 |
| Interbank Rate | 0 % | Dec/17 |
| Interest Rate | 11.5 % | May/21 |
| Money Supply M0 | 2790896 NGN Million | 6.782 USD Billion | May/21 |
| Money Supply M1 | 16278041 NGN Million | 39.556 USD Billion | May/21 |
| Money Supply M2 | 38849024 NGN Million | 94.404 USD Billion | May/21 |
| Deposit Interest Rate | 3.05 % | Mar/21 |
| Foreign Direct Investment | 2138 USD Million | 2.138 B USD | 1Q/21 |
| Private Sector Credit | 32198242 NGN Million | 78.242 B USD | May/21 |
Labor Indicators
| Indicator | Data | Period |
|---|---|---|
| Minimum Wages | 30000 NGN/Month | 72.9 USD/Month | 2021 |
| Unemployment Rate | 33.3 % | 4Q/20 |
| Youth Unemployment Rate | 53.4 % | 4Q/20 |
| Employed Persons | 58527 Thousand Person | 58.527 Million Person | 2Q/20 |
| Employment Rate | 66.7 % | 4Q/20 |
| Living Wage Family | 137600 NGN/Month | 355.869 USD/Month | 2018 |
| Living Wage Individual | 43200 NGN/Month | 111.726 USD/Month | 2018 |
| Unemployed Persons | 23187 Thousand Persons | 23.187 Million Persons | 4Q/20 |
| Wages High Skilled | 57200 NGN/Month | 147.934 USD/Month | 2018 |
| Wages Low Skilled | 25500 NGN/Month | 65.949 USD/Month | 2018 |
Taxes
| Indicator | Data | Period |
|---|---|---|
| Corporate Tax Rate | 30 % | 2021 |
| Personal Income Tax Rate | 24 % | 2021 |
| Sales Tax Rate | 7.5 % | 2021 |
Production Indicators
| Indicator | Data | Period |
|---|---|---|
| Crude Oil Production | 1313 BBL/D/1K | Jun/21 |
| Industrial Production | 1.6 % | 4Q/20 |
| Mining Production | 9.2 % | 4Q/20 |
Business Indicators
| Indicator | Data | Period |
|---|---|---|
| Business Confidence | -15.2 index points | Dec/20 |
| Corruption Index | 25 index points | 2020 |
| Corruption Rank | 149 place | 2020 |
| Ease of Doing Business | 131 place | 2019 |
| Manufacturing PMI | 49 index points | Apr/21 |
| Manufacturing Production | -1.3 % | 4Q/20 |
| Services PMI | 47.3 index points | Apr/21 |
| Competitiveness Index | 48.33 Index Points | 2019 |
| Competitiveness Rank | 116 | 2019 |
| Composite PMI | 53.6 Index Points | Jun/21 |
Consumer Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Confidence | -14.8 index points | 4Q/20 |
| Consumer Spending | 14347659 NGN Million | 34.865 USD Billion | 4Q/20 |
| Disposable Personal Income | 20329672 NGN Million | 49.401 B USD | 4Q/20 |
Gold Reserves
21.46
Tonnes
#59 from 114 countries
Foreign Exchange Reserves
33.42
USD Billion
#44 from
114 countries
Government Budget Value
-0.004
USD Billion
#44 from 113 countries
Inflation Rate
17.75
%
#15 from
174 countries
Interest Rate
11.5
%
#15 from
159 countries
Bank Lending Rate
N/A%
#N/A from
N/A countries
Unemployment Rate
33.3
%
#9 from
171 countries
Wages
N/A
N/A
#N/A from
N/A countries
