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

108.38

0%

USD/CHF

0.9312

0%

AUD/USD

0.7682

0%

GBP/USD

1.3828

0%

EUR/USD

1.1912

0%

USD/CAD

1.2650

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	0.11 %	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

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	0.11 %	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

gold_reserve_icon

21.46

Tonnes

#59 from 114 countries

Foreign Exchange Reserves

gold_reserve_icon

35.23

USD Billion

#44 from 114 countries

Government Budget Value

balance_icon

-0.003

USD Billion

#44 from 113 countries

Inflation Rate

inflation_icon

16.47

%

#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

27.1

%

#9 from 171 countries

Wages

salary_icon

N/A

N/A

#N/A from N/A countries

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