Latest: Japan 01:30 BoJ Board Member Suzuki Speaks Forecast: 0

Latest: United States 13:00 Jackson Hole Symposium Forecast: 0

Latest: Switzerland 14:30 SNB Chairman Thomas Jordan speaks Forecast: 0

Latest: Euro Area 10:00 EU Leaders Summit Forecast: 0

Latest: Kenya 14:00 GDP (QoQ) Forecast: 0 % Actual: -1.1%

USD/JPY

109.68

0%

USD/CHF

0.8981

0%

AUD/USD

0.7702

0%

GBP/USD

1.4113

0%

EUR/USD

1.2106

0%

USD/CAD

1.2165

0%

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

Business Indicators
Budget Indicators
Money Indicators

Taxes
GDP Indicators
Labor Indicators

Inflation Indicators
Trade Indicators
Consumer Indicators

Production Indicators

Nigeria Major Economic Indicators

Indicator	Data	Period
GDP Value	448 USD Billion	2019
GDP Annual Growth Rate	0.51 %	1Q/21
GDP Growth Rate	-13.9 %	1Q/21
GDP per capita	2387 USD	2019
Inflation Rate YoY	18.12 %	Apr/21
Interest Rate	11.5 %	May/21
Unemployment Rate	33.3 %	4Q/20
Balance of Trade	-1123290 NGN Million \| -2.733 B USD	Mar/21
Current Account	-5265 USD Million \| -5.265 B USD	4Q/20
Foreign Exchange Reserves	34250 USD Million \| 34.25 B USD	May/21

GDP

vvp

448

USD Billion

#34 from 174 countries

GDP per capita

vvp

2387

USD

#121 from 169 countries

GDP Indicators

Indicator	Data	Period
GDP Value	448 USD Billion	2019
GDP Annual Growth Rate	0.51 %	1Q/21
GDP Growth Rate	-13.9 %	1Q/21
GDP per capita	2387 USD	2019
GDP Constant Prices	16826890 NGN Million \| 40.943 B USD	1Q/21
GDP per capita PPP	5136 USD	2019
GDP From Agriculture	3760881 NGN Million \| 9.151 B USD	1Q/21
GDP From Construction	692521 NGN Million \| 1.685 B USD	1Q/21
GDP From Manufacturing	1670394 NGN Million \| 4.064 B USD	1Q/21
GDP From Mining	1556074 NGN Million \| 3.786 B USD	1Q/21
GDP From Public Administration	278241 NGN Million \| 0.677 B USD	1Q/21
GDP From Services	6836847 NGN Million \| 16.635 B USD	1Q/21
GDP From Transport	231805 NGN Million \| 0.564 B USD	1Q/21
GDP From Utilities	394016 NGN Million \| 0.959 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 \| 3.43 USD Billion	4Q/20
Government Revenues	904 NGN Billion \| 2.2 USD Billion	4Q/20
Fiscal Expenditure	2387 NGN Billion \| 5.808 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)	376 index points	Apr/21
Food Inflation	22.72 %	Apr/21
Gasoline Prices	0.4 USD/Liter	May/21
GDP Deflator	224 index points	4Q/20
Inflation Rate YoY	18.12 %	Apr/21
Inflation Rate Mom	0.97 %	Apr/21
Core Consumer Prices	327 Index Points	Apr/21
Core Inflation Rate	12.7 %	Apr/21
CPI Housing Utilities	332 Index Points	Apr/21
CPI Transportation	331 Index Points	Apr/21

Trade Indicators

Indicator	Data	Period
Current Account to GDP	-4.2 %	2020
Balance of Trade	-1123290 NGN Million \| -2.733 USD Billion	Mar/21
Capital Flows	-3372 USD Million \| -3.372 USD Billion	4Q/20
Current Account	-5265 USD Million \| -5.265 USD Billion	4Q/20
Exports	1070267 NGN Million \| 2.604 USD Billion	Mar/21
External Debt	33348 USD Million \| 33.348 USD Billion	4Q/20
Foreign Exchange Reserves	34250 USD Million \| 34.25 USD Billion	May/21
Imports	2193557 NGN Million \| 5.337 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	2796471 NGN Million \| 6.804 USD Billion	Apr/21
Money Supply M1	15996570 NGN Million \| 38.923 USD Billion	Apr/21
Money Supply M2	38382884 NGN Million \| 93.393 USD Billion	Apr/21
Deposit Interest Rate	3.05 %	Mar/21
Foreign Direct Investment	439 USD Million \| 0.439 B USD	4Q/20
Private Sector Credit	31822920 NGN Million \| 77.432 B USD	Apr/21

Labor Indicators

Indicator	Data	Period
Minimum Wages	30000 NGN/Month \| 72.996 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	1344 BBL/D/1K	May/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	54.4 Index Points	May/21

Consumer Indicators

Indicator	Data	Period
Consumer Confidence	-14.8 index points	4Q/20
Consumer Spending	14347659 NGN Million \| 34.911 USD Billion	4Q/20
Disposable Personal Income	20329672 NGN Million \| 49.466 B USD	4Q/20

Gold Reserves

gold_reserve_icon

21.46

Tonnes

#59 from 114 countries

Foreign Exchange Reserves

gold_reserve_icon

34.25

USD Billion

#44 from 114 countries

Government Budget Value

balance_icon

-0.004

USD Billion

#44 from 113 countries

Inflation Rate

inflation_icon

18.12

%

#15 from 174 countries

Interest Rate

discount_rate_icon

11.5

%

#15 from 159 countries

Bank Lending Rate

credit_rate_icon

N/A%

#N/A from N/A countries

Unemployment Rate

unemployment_icon

33.3

%

#9 from 171 countries

Wages

salary_icon

N/A

N/A

#N/A from N/A countries

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