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 | 448 USD Billion | 2019 |
GDP Annual Growth Rate | 0.11 % | 4Q/20 |
GDP Growth Rate | 9.7 % | 4Q/20 |
GDP per capita | 2387 USD | 2019 |
Inflation Rate YoY | 16.47 % | Jan/21 |
Interest Rate | 11.5 % | Jan/21 |
Unemployment Rate | 27.1 % | 2Q/20 |
Balance of Trade | -830085 NGN Million | -2.183 B USD | Sep/20 |
Current Account | -3338 USD Million | -3.338 B USD | 3Q/20 |
Foreign Exchange Reserves | 35230 USD Million | 35.23 B USD | Feb/21 |
GDP

448
USD Billion
#34 from 174 countries
GDP per capita

2387
USD
#121 from 169 countries
GDP Indicators
Indicator | Data | Period |
---|---|---|
GDP Value | 448 USD Billion | 2019 |
GDP Annual Growth Rate | 0.11 % | 4Q/20 |
GDP Growth Rate | 9.7 % | 4Q/20 |
GDP per capita | 2387 USD | 2019 |
GDP Constant Prices | 19753164 NGN Million | 51.937 B USD | 4Q/20 |
GDP per capita PPP | 5136 USD | 2019 |
GDP From Agriculture | 5268290 NGN Million | 13.852 B USD | 4Q/20 |
GDP From Construction | 679255 NGN Million | 1.786 B USD | 4Q/20 |
GDP From Manufacturing | 1681421 NGN Million | 4.421 B USD | 4Q/20 |
GDP From Mining | 1147138 NGN Million | 3.016 B USD | 4Q/20 |
GDP From Public Administration | 435518 NGN Million | 1.145 B USD | 4Q/20 |
GDP From Services | 7707177 NGN Million | 20.264 B USD | 4Q/20 |
GDP From Transport | 258748 NGN Million | 0.68 B USD | 4Q/20 |
GDP From Utilities | 118495 NGN Million | 0.312 B USD | 4Q/20 |
Budget Indicators
Indicator | Data | Period |
---|---|---|
Government Debt to GDP | 34.98 % | 2020 |
Government Budget Value | -1289 NGN Million | -0.003 USD Billion | 3Q/20 |
Government Spending | 2339713 NGN Million | 6.152 USD Billion | 2Q/20 |
Government Revenues | 842 NGN Billion | 2.214 USD Billion | 3Q/20 |
Fiscal Expenditure | 2131 NGN Billion | 5.603 B USD | 3Q/20 |
Government Budget to GDP | -3.6 % | 2020 |
Military Expenditure | 1907 USD Million | 1.907 B USD | 2018 |
Inflation Indicators
Indicator | Data | Period |
---|---|---|
Consumer Price Index (CPI) | 361 index points | Jan/21 |
Food Inflation | 20.57 % | Jan/21 |
Gasoline Prices | 0.46 USD/Liter | Feb/21 |
GDP Deflator | 219 index points | 3Q/20 |
Inflation Rate YoY | 16.47 % | Jan/21 |
Inflation Rate Mom | 1.49 % | Jan/21 |
Core Consumer Prices | 316 Index Points | Jan/21 |
Core Inflation Rate | 11.85 % | Jan/21 |
CPI Housing Utilities | 324 Index Points | Jan/21 |
CPI Transportation | 319 Index Points | Jan/21 |
Trade Indicators
Indicator | Data | Period |
---|---|---|
Current Account to GDP | -3.6 % | 2019 |
Balance of Trade | -830085 NGN Million | -2.183 USD Billion | Sep/20 |
Capital Flows | 2664 USD Million | 2.664 USD Billion | 3Q/20 |
Current Account | -3338 USD Million | -3.338 USD Billion | 3Q/20 |
Exports | 896198 NGN Million | 2.356 USD Billion | Sep/20 |
External Debt | 31985 USD Million | 31.985 USD Billion | 3Q/20 |
Foreign Exchange Reserves | 35230 USD Million | 35.23 USD Billion | Feb/21 |
Imports | 1726283 NGN Million | 4.539 USD Billion | Sep/20 |
Terms of Trade | 101 Index Points | Sep/20 |
Money Indicators
Indicator | Data | Period |
---|---|---|
Gold Reserves | 21.46 Tonnes | 4Q/20 |
Interbank Rate | 0 % | Dec/17 |
Interest Rate | 11.5 % | Jan/21 |
Money Supply M0 | 2831167 NGN Million | 7.444 USD Billion | Jan/21 |
Money Supply M1 | 15978957 NGN Million | 42.014 USD Billion | Jan/21 |
Money Supply M2 | 37745680 NGN Million | 99.245 USD Billion | Jan/21 |
Deposit Interest Rate | 2.74 % | Dec/20 |
Foreign Direct Investment | 428 USD Million | 0.428 B USD | 1Q/20 |
Private Sector Credit | 30558792 NGN Million | 80.348 B USD | Jan/21 |
Labor Indicators
Indicator | Data | Period |
---|---|---|
Minimum Wages | 30000 NGN/Month | 78.879 USD/Month | 2020 |
Unemployment Rate | 27.1 % | 2Q/20 |
Youth Unemployment Rate | 36.5 % | 3Q/18 |
Employed Persons | 58527 Thousand Person | 58.527 Million Person | 2Q/20 |
Employment Rate | 76.9 % | 3Q/18 |
Living Wage Family | 137600 NGN/Month | 355.869 USD/Month | 2018 |
Living Wage Individual | 43200 NGN/Month | 111.726 USD/Month | 2018 |
Unemployed Persons | 21765 Thousand Persons | 21.765 Million Persons | 2Q/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 % | 2020 |
Personal Income Tax Rate | 24 % | 2020 |
Sales Tax Rate | 7.5 % | 2021 |
Production Indicators
Indicator | Data | Period |
---|---|---|
Crude Oil Production | 1382 BBL/D/1K | Jan/21 |
Industrial Production | -10.3 % | 3Q/20 |
Mining Production | -27.2 % | 1Q/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 | 49.6 index points | Dec/20 |
Manufacturing Production | -10.3 % | 3Q/20 |
Services PMI | 45.7 index points | Dec/20 |
Competitiveness Index | 48.33 Index Points | 2019 |
Competitiveness Rank | 116 | 2019 |
Composite PMI | 52 Index Points | Feb/21 |
Consumer Indicators
Indicator | Data | Period |
---|---|---|
Consumer Confidence | -14.8 index points | 4Q/20 |
Consumer Spending | 10240514 NGN Million | 26.925 USD Billion | 2Q/20 |
Disposable Personal Income | 17270558 NGN Million | 45.41 B USD | 2Q/20 |
Gold Reserves

21.46
Tonnes
#59 from 114 countries
Foreign Exchange Reserves

35.23
USD Billion
#44 from
114 countries
Government Budget Value

-0.003
USD Billion
#44 from 113 countries
Inflation Rate

16.47
%
#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

27.1
%
#9 from
171 countries
Wages

N/A
N/A
#N/A from
N/A countries