Nigeria Economic Statistics and Indicators

05, Jul 2015, EDT. Welcome to the Nigeria economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Nigeria › Change country
National or Regional Currency: Naira, NGN
Year of data: 2014 › Change year
Number of Indicators Listed: 38
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 177,155,754 ; note: estimates for this country explicitly take into account the effects of excess mortality due to AIDS; this can result in lower life expectancy, higher infant mortality, higher death rates, lower population growth rates, and changes in the distribution of population by age and sex than would otherwise be expected (July 2014 est.)
Area: total: 923,768 sq km ; land: 910,768 sq km ; water: 13,000 sq km
Natural Resources: natural gas, petroleum, tin, iron ore, coal, limestone, niobium, lead, zinc, arable land
Capital: name: Abuja ; geographic coordinates: 9 05 N, 7 32 E ; time difference: UTC+1 (6 hours ahead of Washington, DC, during Standard Time)

Following an April 2014 statistical "rebasing" exercise, Nigeria has emerged as Africa's largest economy, with 2013 GDP estimated at US$ 502 billion. Oil has been a dominant source of government revenues since the 1970s. Regulatory constraints and security risks have limited new investment in oil and natural gas, and Nigeria's oil production contracted in 2012 and 2013. Nevertheless, the Nigerian economy has continued to grow at a rapid 6-8% per annum (pre-rebasing), driven by growth in agriculture, telecommunications, and services, and the medium-term outlook for Nigeria is good, assuming oil output stabilizes and oil prices remain strong. Fiscal authorities pursued countercyclical policies in 2011-2013, significantly reducing the budget deficit. Monetary policy has also been responsive and effective. Following the 2008-9 global financial crises, the banking sector was effectively recapitalized and regulation enhanced. Despite its strong fundamentals, oil-rich Nigeria has been hobbled by inadequate power supply, lack of infrastructure, delays in the passage of legislative reforms, an inefficient property registration system, restrictive trade policies, an inconsistent regulatory environment, a slow and ineffective judicial system, unreliable dispute resolution mechanisms, insecurity, and pervasive corruption. Economic diversification and strong growth have not translated into a significant decline in poverty levels - over 62% of Nigeria's 170 million people live in extreme poverty. President JONATHAN has established an economic team that includes experienced and reputable members and has announced plans to increase transparency, continue to diversify production, and further improve fiscal management. The government is working to develop stronger public-private partnerships for roads, agriculture, and power.
More on the Nigeria Economy
More on the Nigeria Export, Import and Trade

Economic Indicator Listing
  For Nigeria in year 2014 Indicator Value
GDP Growth (Constant Prices, National Currency) 6.966 %
GDP (Current Prices, National Currency)NGN 92,237.62 Billion.
GDP (Current Prices, US Dollars)US$ 594.257 Billion
GDP Deflator 134.856 (Index, Base Year as per country's accounts = 100)
GDP Per Capita (Constant Prices, National Currency)NGN 393,227.64 .
GDP Per Capita (Current Prices, National Currency)NGN 530,291.19 .
GDP Per Capita (Current Prices, US Dollars)US$ 3,416.49
GDP (PPP), US DollarsUS$ 1,057.83 Billion
GDP Per Capita (PPP), US DollarsUS$ 6,081.67
GDP Share of World Total (PPP) 0.989 %
Implied PPP Conversion Rate 87.195
Investment (% of GDP) 14.988 %
Gross National Savings (% of GDP) 18.656 %
Inflation, Average Consumer Prices (Indexed to Year 2000) 159.154 (Index, Base Year 2000 = 100)
Inflation (Average Consumer Price Change %) 8.292 %
Inflation, End of Year (Indexed to Year 2000) 166.007 (Index, Base Year 2000 = 100)
Inflation (End of Year Change %) 9 %
Import Volume of All Items Including Goods and Services (Percent Change) 5.599 %
Import Volumes of Goods Only (Percent Change) 0.99 %
Export Volume of All Items Including Goods and Services (Percent Change) 0.346 %
Export Volumes of Goods Only (Percent Change) -2.509 %
Unemployment Rate (% of Labour Force) n/a %
Population 173.938 Million
General government revenue (National Currency)NGN 9,787.76 Billions.
General government revenue (% of GDP) 10.611 %
General government total expenditure (National Currency)NGN 11,355.90 Billions.
General government total expenditure (% of GDP) 12.312 %
Total Government Net Lending/ Borrowing (National Currency)NGN -1,568.13 Billions.
Total Government Net Lending/ Borrowing (% of GDP) -1.7 %
Fiscal Year Gross Domestic Product, Current PricesNGN 92,237.62 Billions.
Current Account Balance (US Dollars)US$ 21.8 Billion
Current Account Balance (% GDP) 3.668 %
Economic Indicators for Nigeria 2014

GDP (Constant Prices, National Currency) for Nigeria in year 2014 is NGN 68,397.10 Billion.

GDP Growth (Constant Prices, National Currency) for Nigeria in year 2014 is 6.966 %.

GDP (Current Prices, National Currency) for Nigeria in year 2014 is NGN 92,237.62 Billion.

GDP (Current Prices, US Dollars) for Nigeria in year 2014 is US$ 594.257 Billion.

GDP Deflator for Nigeria in year 2014 is 134.856 (Index, Base Year as per country's accounts = 100).

GDP Per Capita (Constant Prices, National Currency) for Nigeria in year 2014 is NGN 393,227.64 .

GDP Per Capita (Current Prices, National Currency) for Nigeria in year 2014 is NGN 530,291.19 .

GDP Per Capita (Current Prices, US Dollars) for Nigeria in year 2014 is US$ 3,416.49 .

GDP (PPP), US Dollars for Nigeria in year 2014 is US$ 1,057.83 Billion.

GDP Per Capita (PPP), US Dollars for Nigeria in year 2014 is US$ 6,081.67 .

GDP Share of World Total (PPP) for Nigeria in year 2014 is 0.989 %.

Implied PPP Conversion Rate for Nigeria in year 2014 is 87.195 .

Investment (% of GDP) for Nigeria in year 2014 is 14.988 %.

Gross National Savings (% of GDP) for Nigeria in year 2014 is 18.656 %.

Inflation, Average Consumer Prices (Indexed to Year 2000) for Nigeria in year 2014 is 159.154 (Index, Base Year 2000 = 100).

Inflation (Average Consumer Price Change %) for Nigeria in year 2014 is 8.292 %.

Inflation, End of Year (Indexed to Year 2000) for Nigeria in year 2014 is 166.007 (Index, Base Year 2000 = 100).

Inflation (End of Year Change %) for Nigeria in year 2014 is 9 %.

Import Volume of All Items Including Goods and Services (Percent Change) for Nigeria in year 2014 is 5.599 %.

Import Volumes of Goods Only (Percent Change) for Nigeria in year 2014 is 0.99 %.

Export Volume of All Items Including Goods and Services (Percent Change) for Nigeria in year 2014 is 0.346 %.

Export Volumes of Goods Only (Percent Change) for Nigeria in year 2014 is -2.509 %.

Unemployment Rate (% of Labour Force) for Nigeria in year 2014 is n/a %.

Population for Nigeria in year 2014 is 173.938 Million .

General government revenue (National Currency) for Nigeria in year 2014 is NGN 9,787.76 Billions.

General government revenue (% of GDP) for Nigeria in year 2014 is 10.611 %.

General government total expenditure (National Currency) for Nigeria in year 2014 is NGN 11,355.90 Billions.

General government total expenditure (% of GDP) for Nigeria in year 2014 is 12.312 %.

Total Government Net Lending/ Borrowing (National Currency) for Nigeria in year 2014 is NGN -1,568.13 Billions.

Total Government Net Lending/ Borrowing (% of GDP) for Nigeria in year 2014 is -1.7 %.

Fiscal Year Gross Domestic Product, Current Prices for Nigeria in year 2014 is NGN 92,237.62 Billions.

Current Account Balance (US Dollars) for Nigeria in year 2014 is US$ 21.8 Billion.

Current Account Balance (% GDP) for Nigeria in year 2014 is 3.668 %.

* Source: IMF
Aggregate Indicators for Nigeria
Indicators
  Geography (Location, geographic coordinates, map references, area, terrain, elevation extremes, borders, coastline and maritime claims) for Nigeria
  Climate and Environment (climate, environmental issues, environmental agreements, natural hazards) for Nigeria
  Natural Resources, Agricultural Products, Land Use and Water Use for Nigeria
  Nationality, Ethnic Groups, Languages and Religions for Nigeria
  Telephone Statistics: Number of Fixed Lines, Mobile Phone Penetration Rate for Nigeria
  Age Structure, Median Age, Gender and Urbanization for Nigeria
  Population Growth Rate, Birth Rate, Death Rate, Net Migration Rate for Nigeria
  Life Expectancy Rate, Infant Mortality Rate and Total Fertility Rate for Nigeria
  HIV, AIDS and Other Major Infectious Disease Rates for Nigeria
  Literacy Rate, Educational Expenditure and School Life Expectancy for Nigeria
  Gross Domestic Product (PPP, Official Exchange Rate, Real Growth Rate and Per Capita) for Nigeria
  Industries and Industrial Growth Production Rate for Nigeria
  Labor Force by Occupation for Nigeria
  Poverty Line, Gini Index, Household Income and Consumption for Nigeria
  National Budget and Public Debt for Nigeria
  Bank Rates (Commercial Bank Prime Lending Rate, Central Bank Discount Rate) for Nigeria
  Stock of Money, Stock of Quasi Money, Stock of Domestic Credit for Nigeria
  Stock Market Capitalization: Market Value of Publicly Traded Shares for Nigeria
  Trade Statistics, Export Statistics, Export Partners and Products, Import Statistics, Import Partners and Products for Nigeria
  Foreign Exchange Reserves and Gold Reserves for Nigeria
  FDI Statistics (Foreign Direct Investment at Home/ Inbound FDI, Foreign Direct Investment Abroad/ Outbound FDI) for Nigeria
  Exchange Rate Statistics for Nigeria
  Electricity Production, Electricity Consumption, Electricity Exports and Electricity Imports for Nigeria
  Oil Production, Proven Oil Reserves, Oil Consumption, Oil Exports and Oil Imports for Nigeria
  Natural Gas Production, Proven Natural Gas Reserves, Natural Gas Consumption, Natural Gas Exports and Natural Gas Imports for Nigeria
  Television and Radio Statistics (TV Stats, Radio Stats) for Nigeria
  Internet Statistics (Internet Users, Internet Hosts, Country TLD) for Nigeria
  Airport Statistics (Paved Runway Airports, Unpaved Runway Airports, Heliports) for Nigeria
  Transport Statistics (Railways, Roadways, Waterways, Ports and Terminals, Airports, Merchant Marine) for Nigeria
  Military Statistics (Military Expenditure, Military Branches, Service Age and Obligation, Manpower Available and Fit for Military Service) for Nigeria
  Disputes, Refugees, Human Trafficking and Illicit Drug Production for Nigeria
* Source: CIA
Internet Indicators for Nigeria
Indicators
  Number of Internet Users for Nigeria
  Internet Penetration Rate for Nigeria
  Number of Facebook Accounts for Nigeria
  Facebook Penetration Rate for Nigeria
* Source: IWS
Economic Freedom Indicators for Nigeria
Indicators
  Economic Freedom World Rank for Nigeria
  Economic Freedom Regional Ranking for Nigeria
  Business Freedom for Nigeria
  Trade Freedom for Nigeria
  Fiscal Freedom for Nigeria
  Government Spending for Nigeria
  Monetary Freedom for Nigeria
  Investment Freedom for Nigeria
  Financial Freedom for Nigeria
  Property Rights for Nigeria
  Freedom from Corruption for Nigeria
  Labor Freedom for Nigeria
  Tariff Rate for Nigeria
  Income Tax Rate for Nigeria
  Corporate Tax Rate for Nigeria
  Tax Burden % of GDP for Nigeria
  Government Expenditure % of GDP for Nigeria
* Source: HFO
Corruption Perceptions Index Rank and Score for Nigeria
Indicator
  Corruption Perceptions Index Rank and Score for Nigeria
* Source: TIO
Nigeria Economic Indicators in other Years
  Nigeria Economic Indicators for Year 2019 (Forecast)
  Nigeria Economic Indicators for Year 2018 (Forecast)
  Nigeria Economic Indicators for Year 2017 (Forecast)
  Nigeria Economic Indicators for Year 2016 (Forecast)
  Nigeria Economic Indicators for Year 2015 (Forecast)
Nigeria Economic Indicators for Year 2014 (Current)
  Nigeria Economic Indicators for Year 2013
  Nigeria Economic Indicators for Year 2012
  Nigeria Economic Indicators for Year 2011
  Nigeria Economic Indicators for Year 2010
  Nigeria Economic Indicators for Year 2009
  Nigeria Economic Indicators for Year 2008
  Nigeria Economic Indicators for Year 2007
  Nigeria Economic Indicators for Year 2006
  Nigeria Economic Indicators for Year 2005
  Nigeria Economic Indicators for Year 2004
  Nigeria Economic Indicators for Year 2003
  Nigeria Economic Indicators for Year 2002
  Nigeria Economic Indicators for Year 2001
  Nigeria Economic Indicators for Year 2000
  Nigeria Economic Indicators for Year 1999
  Nigeria Economic Indicators for Year 1998
  Nigeria Economic Indicators for Year 1997
  Nigeria Economic Indicators for Year 1996
  Nigeria Economic Indicators for Year 1995
  Nigeria Economic Indicators for Year 1994
  Nigeria Economic Indicators for Year 1993
  Nigeria Economic Indicators for Year 1992
  Nigeria Economic Indicators for Year 1991
  Nigeria Economic Indicators for Year 1990
  Nigeria Economic Indicators for Year 1989
  Nigeria Economic Indicators for Year 1988
  Nigeria Economic Indicators for Year 1987
  Nigeria Economic Indicators for Year 1986
  Nigeria Economic Indicators for Year 1985
  Nigeria Economic Indicators for Year 1984
  Nigeria Economic Indicators for Year 1983
  Nigeria Economic Indicators for Year 1982
  Nigeria Economic Indicators for Year 1981
  Nigeria Economic Indicators for Year 1980


Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook, Internet World Statistics, The Heritage Foundation and Transparency International