Nigeria ranked 54/197 by economy size with a GDP of $252B and 174/197 by GDP per capita at $1,084. Nigeria has $99.2B in government debt, with a debt-to-GDP ratio of 39.3%.
In 2024, Nigeria made up 0.23% of the world's economy, compared to 0.31% in 1960.
Nigeria GDP & GDP growth by year
| Year | GDP | GDP growth |
|---|---|---|
| 2024 | $252,261,880,141 | 4.06% |
| 2023 | $487,387,801,881 | 3.33% |
| 2022 | $646,950,257,578 | 4.32% |
| 2021 | $609,147,716,973 | 1.11% |
| 2020 | $598,586,817,819 | -6.37% |
| 2019 | $668,219,992,691 | 2.21% |
| 2018 | $421,739,251,509 | 1.92% |
| 2017 | $375,745,731,053 | 0.81% |
| 2016 | $404,649,125,252 | -1.62% |
| 2015 | $493,026,682,801 | 2.65% |
| 2014 | $574,183,763,412 | 6.31% |
| 2013 | $520,117,180,314 | 6.67% |
| 2012 | $463,971,018,239 | 4.23% |
| 2011 | $414,466,676,831 | 5.31% |
| 2010 | $366,990,417,129 | 8.01% |
| 2009 | $295,008,835,381 | 8.04% |
| 2008 | $339,476,276,258 | 6.76% |
| 2007 | $278,260,846,800 | 6.59% |
| 2006 | $238,454,997,161 | 6.06% |
| 2005 | $175,670,569,969 | 6.44% |
| 2004 | $135,764,731,646 | 9.25% |
| 2003 | $104,738,954,264 | 7.35% |
| 2002 | $95,054,059,303 | 15.3% |
| 2001 | $73,557,840,064 | 5.92% |
| 2000 | $69,171,451,627 | 5.02% |
| 1999 | $59,145,077,039 | 0.58% |
| 1998 | $218,416,200,673 | 2.58% |
| 1997 | $200,850,397,618 | 2.94% |
| 1996 | $185,730,236,700 | 4.2% |
| 1995 | $140,919,776,986 | -0.07% |
| 1994 | $80,399,613,064 | -1.81% |
| 1993 | $56,721,051,402 | -2.04% |
| 1992 | $52,058,181,854 | 4.63% |
| 1991 | $59,526,833,412 | 0.36% |
| 1990 | $54,035,795,388 | 11.8% |
| 1989 | $44,003,061,108 | 1.92% |
| 1988 | $49,648,470,440 | 7.33% |
| 1987 | $52,676,041,931 | 3.2% |
| 1986 | $54,805,852,581 | 0.06% |
| 1985 | $73,745,821,158 | 5.91% |
| 1984 | $73,484,359,521 | -1.12% |
| 1983 | $97,094,911,792 | -10.9% |
| 1982 | $142,769,363,314 | -6.8% |
| 1981 | $164,475,209,516 | -13.1% |
| 1980 | $64,201,788,123 | 4.2% |
| 1979 | $47,259,911,894 | 6.76% |
| 1978 | $36,527,862,209 | -5.76% |
| 1977 | $36,035,407,725 | 6.02% |
| 1976 | $36,308,883,249 | 9.04% |
| 1975 | $27,778,934,625 | -5.23% |
| 1974 | $24,846,641,318 | 11.2% |
| 1973 | $15,162,871,287 | 5.39% |
| 1972 | $12,274,416,018 | 3.36% |
| 1971 | $9,181,769,912 | 14.2% |
| 1970 | $12,546,094,982 | 25% |
| 1969 | $6,634,317,346 | 24.2% |
| 1968 | $5,200,997,920 | -1.25% |
| 1967 | $5,203,237,919 | -15.7% |
| 1966 | $6,366,917,453 | -4.25% |
| 1965 | $5,874,537,650 | 4.88% |
| 1964 | $5,552,931,319 | 4.95% |
| 1963 | $5,165,590,254 | 8.58% |
| 1962 | $4,909,399,176 | 4.1% |
| 1961 | $4,467,287,893 | 0.19% |
| 1960 | $4,196,174,502 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/nigeria | CC BY 
Nigeria GDP per capita by year
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 2024 | $1,084 | $9,087 |
| 2023 | $2,139 | $8,705 |
| 2022 | $2,899 | $8,305 |
| 2021 | $2,787 | $7,588 |
| 2020 | $2,797 | $7,415 |
| 2019 | $3,190 | $7,551 |
| 2018 | $2,058 | $7,158 |
| 2017 | $1,876 | $7,037 |
| 2016 | $2,070 | $7,072 |
| 2015 | $2,586 | $7,308 |
| 2014 | $3,089 | $7,396 |
| 2013 | $2,873 | $7,004 |
| 2012 | $2,633 | $6,671 |
| 2011 | $2,418 | $6,585 |
| 2010 | $2,202 | $6,301 |
| 2009 | $1,820 | $5,927 |
| 2008 | $2,154 | $5,607 |
| 2007 | $1,816 | $5,298 |
| 2006 | $1,600 | $4,975 |
| 2005 | $1,211 | $4,678 |
| 2004 | $962 | $4,381 |
| 2003 | $763 | $4,015 |
| 2002 | $712 | $3,770 |
| 2001 | $566 | $3,309 |
| 2000 | $547 | $3,139 |
| 1999 | $481 | $3,002 |
| 1998 | $1,822 | $3,022 |
| 1997 | $1,720 | $2,990 |
| 1996 | $1,633 | $2,931 |
| 1995 | $1,272 | $2,835 |
| 1994 | $745 | $2,853 |
| 1993 | $540 | $2,921 |
| 1992 | $509 | $2,991 |
| 1991 | $597 | $2,870 |
| 1990 | $556 | $2,840 |
| 1989 | $465 | - |
| 1988 | $540 | - |
| 1987 | $588 | - |
| 1986 | $628 | - |
| 1985 | $869 | - |
| 1984 | $890 | - |
| 1983 | $1,207 | - |
| 1982 | $1,822 | - |
| 1981 | $2,162 | - |
| 1980 | $870 | - |
| 1979 | $661 | - |
| 1978 | $527 | - |
| 1977 | $536 | - |
| 1976 | $556 | - |
| 1975 | $438 | - |
| 1974 | $403 | - |
| 1973 | $252.4 | - |
| 1972 | $209.5 | - |
| 1971 | $160.5 | - |
| 1970 | $224.5 | - |
| 1969 | $121.4 | - |
| 1968 | $97.3 | - |
| 1967 | $99.5 | - |
| 1966 | $124.4 | - |
| 1965 | $117.3 | - |
| 1964 | $113.3 | - |
| 1963 | $107.7 | - |
| 1962 | $104.5 | - |
| 1961 | $97.1 | - |
| 1960 | $93.1 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/nigeria | CC BY
Nigeria has a GDP per capita of $1,084, ranking 174/197, a GDP per capita based on purchasing power parity (PPP) of $9,087, ranking 136/197, and a median annual after tax income of $1,104, ranking 193/197.
Nigeria GDP rankings by year
| Year | Rank | ||
|---|---|---|---|
| GDP | GDP per capita | GDP per capita, PPP | |
| 2024 | 54 | 164 | 125 |
| 2023 | 32 | 150 | 130 |
| 2022 | 23 | 139 | 130 |
| 2021 | 24 | 135 | 129 |
| 2020 | 23 | 136 | 127 |
| 2019 | 21 | 134 | 128 |
| 2018 | 30 | 146 | 128 |
| 2017 | 32 | 149 | 130 |
| 2016 | 28 | 143 | 128 |
| 2015 | 24 | 136 | 127 |
| 2014 | 22 | 132 | 125 |
| 2013 | 25 | 134 | 126 |
| 2012 | 28 | 136 | 126 |
| 2011 | 30 | 136 | 126 |
| 2010 | 31 | 136 | 124 |
| 2009 | 33 | 136 | 126 |
| 2008 | 31 | 129 | 129 |
| 2007 | 32 | 131 | 128 |
| 2006 | 31 | 129 | 126 |
| 2005 | 37 | 132 | 125 |
| 2004 | 38 | 141 | 123 |
| 2003 | 40 | 144 | 123 |
| 2002 | 41 | 144 | 123 |
| 2001 | 45 | 147 | 129 |
| 2000 | 46 | 150 | 126 |
| 1999 | 47 | 151 | 127 |
| 1998 | 23 | 99 | 122 |
| 1997 | 25 | 99 | 121 |
| 1996 | 26 | 99 | 117 |
| 1995 | 31 | 110 | 117 |
| 1994 | 36 | 122 | 113 |
| 1993 | 42 | 138 | 112 |
| 1992 | 44 | 140 | 110 |
| 1991 | 37 | 138 | 113 |
| 1990 | 39 | 142 | 110 |
| 1989 | 39 | 131 | - |
| 1988 | 39 | 127 | - |
| 1987 | 34 | 121 | - |
| 1986 | 33 | 111 | - |
| 1985 | 23 | 92 | - |
| 1984 | 24 | 94 | - |
| 1983 | 20 | 84 | - |
| 1982 | 16 | 69 | - |
| 1981 | 15 | 63 | - |
| 1980 | 28 | 94 | - |
| 1979 | 30 | 103 | - |
| 1978 | 30 | 106 | - |
| 1977 | 29 | 100 | - |
| 1976 | 26 | 88 | - |
| 1975 | 29 | 100 | - |
| 1974 | 30 | 100 | - |
| 1973 | 30 | 110 | - |
| 1972 | 28 | 112 | - |
| 1971 | 33 | 118 | - |
| 1970 | 25 | 99 | - |
| 1969 | 36 | 104 | - |
| 1968 | 41 | 108 | - |
| 1967 | 39 | 105 | - |
| 1966 | 32 | 97 | - |
| 1965 | 32 | 97 | - |
| 1964 | 31 | 95 | - |
| 1963 | 32 | 94 | - |
| 1962 | 32 | 95 | - |
| 1961 | 33 | 92 | - |
| 1960 | 33 | 91 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/nigeria | CC BY
Compared with 2000, in 2024 Nigeria is ranked 54th out of 182 by GDP (down from 46th), 164th by GDP per capita (down from 150th), and 125th by GDP per capita PPP (up from 126th).
Economic indicators
Nigeria
|
Rank | |
|---|---|---|
| Gross domestic product |
$252B
2024 |
54/197 |
| GDP growth |
4.06%
2023-2024 |
62/194 |
| GDP per capita |
$1,084
2024 |
174/197 |
| GDP per capita, PPP |
$9,087
2024 |
136/197 |
| Government debt |
$99.2B
2024 |
58/185 |
| Debt-to-GDP ratio |
39.3%
2024 |
135/185 |
| Government debt per person |
$426
2024 |
170/185 |
| Average annual personal income after taxes |
$1,104
2026 |
193/197 |
| Listed domestic companies |
169
2024 |
38/103 |
| Market capitalization of domestic companies |
$54.4B
2024 |
47/100 |
| Number of billionaires |
4
2025 |
51/78 |
| Billionaire frequency |
1 in 27,795,421
2025 |
72/78 |
| Income share by richest 10% |
26.3%
2022 |
97/169 |
| Income share by poorest 10% |
3%
2022 |
61/169 |
| Government expenditure, % of GDP |
12.3%
2024 |
190/195 |
| Consumer prices inflation |
33.2%
2023-2024 |
10/195 |
| Central bank interest rate |
27%
2025 |
5/106 |
| Unemployment rate |
3.45%
2024 |
139/196 |
| Population |
243824469
|
6/197 |
Government spending, deficit, and debt by year
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 2024 | 12.3% | 39.3% | -1.57% |
| 2023 | 10.4% | 36.3% | -3.12% |
| 2022 | 10.6% | 29.8% | -4% |
| 2021 | 9.09% | 26.6% | -3.97% |
| 2020 | 8.73% | 25.7% | -4.03% |
| 2019 | 8.87% | 21.4% | -3.31% |
| 2018 | 9.1% | 20.4% | -3.06% |
| 2017 | 8.51% | 18% | -3.85% |
| 2016 | 6.93% | 17.4% | -3.3% |
| 2015 | 7.85% | 14.9% | -2.7% |
| 2014 | 9.49% | 12.9% | -1.72% |
| 2013 | 10% | 13% | -1.89% |
| 2012 | 10.5% | 12.5% | -0.09% |
| 2011 | 12.3% | 12.4% | 0.31% |
| 2010 | 11.8% | 6.67% | -2.96% |
| 2009 | 11% | 6.12% | -3.78% |
| 2008 | 10.2% | 5.17% | 4.05% |
| 2007 | 12.9% | 5.76% | -0.79% |
| 2006 | 8.75% | 6.68% | 6.22% |
| 2005 | 12.6% | 13.4% | 3.49% |
| 2004 | 13% | 25.2% | 3.9% |
| 2003 | 16.5% | 29.9% | -1.56% |
| 2002 | 13.8% | 30.7% | 0.95% |
| 2001 | 21.9% | 37.7% | -2.29% |
| 2000 | 17.6% | 40.9% | 2.89% |
| 1999 | 14.9% | 46.1% | -1.39% |
| 1998 | 11.2% | 15.8% | -3.47% |
| 1997 | 9.68% | 17.1% | 1.14% |
| 1996 | 7.87% | 17.9% | 3.37% |
| 1995 | 8.87% | 24.2% | 2.52% |
| 1994 | 12.1% | 39.7% | -2.96% |
| 1993 | 20% | 50.4% | -6.07% |
| 1992 | 15.9% | 49.8% | 0.94% |
| 1991 | 13.6% | 53.2% | -1.18% |
| 1990 | 14.2% | 50.9% | -0.48% |
Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).
GeoRank.org/economy/nigeria | CC BY
This chart shows Nigeria's government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 35 years, Nigeria recorded a fiscal deficit in 24 of them, with an average annual deficit equal to 0.97% of GDP. In 2024, government spending reached $31.1B (12.3% of GDP), with a deficit of 1.57%.
The national debt reached $99.2B, ranking 58th out of 185 countries by total size, with a debt-to-GDP ratio of 39.3%, ranking 135th.
Inflation rate by year
| Year | Inflation |
|---|---|
| 2024 | 33.2% |
| 2023 | 24.7% |
| 2022 | 18.8% |
| 2021 | 17% |
| 2020 | 13.2% |
| 2019 | 11.4% |
| 2018 | 12.1% |
| 2017 | 16.5% |
| 2016 | 15.7% |
| 2015 | 9.01% |
| 2014 | 8.05% |
| 2013 | 8.5% |
| 2012 | 12.2% |
| 2011 | 10.8% |
| 2010 | 13.7% |
| 2009 | 12.5% |
| 2008 | 11.6% |
| 2007 | 5.39% |
| 2006 | 8.23% |
| 2005 | 17.9% |
| 2004 | 15% |
| 2003 | 14% |
| 2002 | 12.9% |
| 2001 | 18.9% |
| 2000 | 6.93% |
| 1999 | 6.62% |
| 1998 | 10% |
| 1997 | 8.53% |
| 1996 | 29.3% |
| 1995 | 72.8% |
| 1994 | 57% |
| 1993 | 57.2% |
| 1992 | 44.6% |
| 1991 | 13% |
| 1990 | 7.36% |
| 1989 | 50.5% |
| 1988 | 54.5% |
| 1987 | 11.3% |
| 1986 | 5.72% |
| 1985 | 7.44% |
| 1984 | 17.8% |
| 1983 | 23.2% |
| 1982 | 7.7% |
| 1981 | 20.8% |
| 1980 | 9.97% |
| 1979 | 11.7% |
| 1978 | 21.7% |
| 1977 | 15.1% |
| 1976 | 24.3% |
| 1975 | 34% |
| 1974 | 12.7% |
| 1973 | 5.4% |
| 1972 | 3.46% |
| 1971 | 16% |
| 1970 | 13.8% |
| 1969 | 10.2% |
| 1968 | -0.48% |
| 1967 | -3.73% |
| 1966 | 9.69% |
| 1965 | 4.1% |
| 1964 | 0.86% |
| 1963 | -2.69% |
| 1962 | 5.27% |
| 1961 | 6.28% |
| 1960 | 5.44% |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/nigeria | CC BY
Over the past 20 years, Nigeria has had an average annual inflation rate of 14%. In 2024, inflation was 33.2%. The bar chart above shows consumer price inflation by year.
Balance of trade
|
Nigeria
|
Rank | |
|---|---|---|
|
Current account balance
|
$17.2B
2024 |
20/190 |
| Current account balance, % of GDP |
+6.82%
2024 |
21/190 |
| Goods imports |
$39.8B
2024 |
61/189 |
| Goods exports |
$53B
2024 |
50/189 |
| Service imports |
$17.9B
2024 |
53/189 |
| Service exports |
$4.57B
2024 |
96/189 |
| Imports of goods and services, % of GDP |
16.9%
1960 |
174/181 |
| Exports of goods and services, % of GDP |
9.24%
1960 |
182/193 |
Nigeria top 10 trading partners
Nigeria's biggest trading partner accounting for 10.5% of all exports and imports is China, with a trade balance between the two of -$9.63B: Nigeria exports $1.5B worth of goods and services to China and imports $11.1B.
Below is the list of the top 10 trade partners of Nigeria.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
China
|
$12.6B | 10.5% | $1.5B | $11.1B | Raw materials & minerals | Machinery & equipment |
| 2 |
Netherlands
|
$10.7B | 8.89% | $7.62B | $3.04B | Raw materials & minerals | Raw materials & minerals |
| 3 |
India
|
$9.94B | 8.29% | $5.07B | $4.87B | Raw materials & minerals | Raw materials & minerals |
| 4 |
Singapore
|
$8.98B | 7.49% | $291M | $8.69B | Raw materials & minerals | Machinery & equipment |
| 5 |
United States
|
$8.29B | 6.91% | $4.53B | $3.76B | Raw materials & minerals | Machinery & equipment |
| 6 |
Spain
|
$6.25B | 5.22% | $5.71B | $543M | Raw materials & minerals | Raw materials & minerals |
| 7 |
Belgium
|
$5.97B | 4.98% | $271M | $5.7B | Raw materials & minerals | Raw materials & minerals |
| 8 |
France
|
$4.75B | 3.96% | $3.96B | $787M | Raw materials & minerals | Raw materials & minerals |
| 9 |
Indonesia
|
$4.37B | 3.65% | $3.97B | $405M | Raw materials & minerals | Processed food, beverages & tobacco |
| 10 |
Canada
|
$4.13B | 3.45% | $3.6B | $527M | Raw materials & minerals | Raw agricultural goods |
Top 10 exports
|
Nigeria
|
Rank | |
|---|---|---|
| Raw materials & minerals | $56.8B | 24/193 |
| Transport & tourism services | $3.15B | 89/188 |
| Raw agricultural goods | $1.33B | 63/193 |
| Processed food, beverages & tobacco | $1.05B | 76/192 |
| Business & finance services | $995M | 76/188 |
| Metals | $589M | 83/192 |
| Government & miscellaneous services | $456M | 32/180 |
| Machinery & equipment | $376M | 101/193 |
| IT & IP services | $263M | 84/183 |
| Animal & marine products | $142M | 98/192 |
Top 10 imports
|
Nigeria
|
Rank | |
|---|---|---|
| Machinery & equipment | $22.1B | 48/193 |
| Raw materials & minerals | $21.5B | 30/193 |
| Transport & tourism services | $12.8B | 44/188 |
| Business & finance services | $4.82B | 48/188 |
| Chemicals & pharma | $4.38B | 67/193 |
| Processed food, beverages & tobacco | $2.85B | 62/193 |
| Raw agricultural goods | $2.75B | 43/193 |
| Miscellaneous | $1.71B | 28/193 |
| Metals | $1.48B | 83/193 |
| Wood & paper products | $1.25B | 56/193 |
Economic freedom indices
|
Nigeria
|
Rank | |
|---|---|---|
| Economic freedom | 54.8 | 132/197 |
| Property rights | 29.7 | 142/182 |
| Government integrity | 23.5 | 150/182 |
| Judicial effectiveness | 34.4 | 114/182 |
| Tax burden | 84.6 | 58/182 |
| Government spending | 96.3 | 4/180 |
| Fiscal health | 83.5 | 66/181 |
| Business freedom | 50.3 | 138/182 |
| Labor freedom | 75.4 | 5/182 |
| Monetary freedom | 56.1 | 162/180 |
| Trade freedom | 64.4 | 133/181 |
| Investment freedom | 30 | 153/181 |
| Financial freedom | 30 | 143/181 |
Economic freedom by year
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 2026 | 54.8 | 34.4 | 84.6 | 96.3 | 83.5 |
| 2025 | 53.4 | 34.1 | 85.1 | 94.5 | 55.4 |
| 2024 | 53.1 | 34.5 | 84.8 | 94.7 | 44.2 |
| 2023 | 53.9 | 22.5 | 84.9 | 95.2 | 50 |
| 2022 | 54.4 | 33.8 | 84.8 | 95.3 | 58.1 |
| 2021 | 58.7 | 38.7 | 84.9 | 95.3 | 59.9 |
| 2020 | 57.2 | 32.2 | 85.1 | 96.2 | 64.1 |
| 2019 | 57.3 | 34.3 | 85 | 96.5 | 68.2 |
| 2018 | 58.5 | 39.6 | 84.4 | 96.3 | 80.9 |
| 2017 | 57.1 | 33.2 | 85.2 | 95.2 | 87.2 |
| 2016 | 57.5 | - | 85.1 | 94.6 | - |
| 2015 | 55.6 | - | 85.2 | 76.1 | - |
| 2014 | 54.3 | - | 85 | 74.5 | - |
| 2013 | 55.1 | - | 82.6 | 74.6 | - |
| 2012 | 56.3 | - | 84.3 | 72.3 | - |
| 2011 | 56.7 | - | 84.4 | 73 | - |
| 2010 | 56.8 | - | 84.4 | 64.7 | - |
| 2009 | 55.1 | - | 84.4 | 64.3 | - |
| 2008 | 55.1 | - | 84.4 | 68.1 | - |
| 2007 | 55.6 | - | 84.2 | 66.9 | - |
| 2006 | 48.7 | - | 84.1 | 56.9 | - |
| 2005 | 48.4 | - | 84 | 48.6 | - |
| 2004 | 49.2 | - | 82.1 | 68.9 | - |
| 2003 | 49.5 | - | 84.2 | 75.8 | - |
| 2002 | 50.9 | - | 84.2 | 74.8 | - |
| 2001 | 49.6 | - | 84.4 | 74.8 | - |
| 2000 | 53.1 | - | 84.4 | 71.2 | - |
| 1999 | 55.7 | - | 84.5 | 78.3 | - |
| 1998 | 52.3 | - | 84.5 | 71.7 | - |
| 1997 | 52.8 | - | 81.3 | 47.3 | - |
| 1996 | 47.4 | - | 78.6 | 0 | - |
| 1995 | 47.3 | - | 75.4 | 0 | - |
Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).
GeoRank.org/economy/nigeria | CC BY
Nigeria is ranked 118/174 for economic freedom with a score of 54.8, compared to 142/162 and a score of 48.7 in 2006.
Other economic metrics
|
Nigeria
|
Rank | |
|---|---|---|
| Services, % of GDP |
53.7%
2024 |
112/191 |
| Industry, % of GDP |
18.2%
2024 |
141/194 |
| Agriculture, forestry, and fishing, % of GDP |
25.9%
2024 |
19/193 |
|
GNI, Atlas method
|
$396B
2024 |
40/194 |
| GNI per capita, PPP |
$8,850
2024 |
132/191 |
| Total reserves including gold |
$38.6B
2024 |
51/177 |
|
Net foreign direct investment
|
-$672M
2024 |
109/189 |
|
Net inflows of foreign direct investment
|
$1.08B
2024 |
94/193 |
|
Net outflows of foreign direct investment
|
$408M
2024 |
65/193 |
|
Servicing debt to the IMF, % of GNI
|
5.48%
2024 |
46/121 |
| Poverty at national poverty lines |
56.2%
2023 |
13/176 |
Compare Nigeria vs other countries
GDP per capita map
Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).
GeoRank.org/economy/nigeria | CC BY
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Data sources:
- World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
- International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
- The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
- U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
- TradeMap (2022–2023, retrieved 2026-02-08)
- United Nations | World Population Prospects (2026, retrieved 2026-03-10)
- LivingCost (2026, retrieved 2025-10-14)
Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.
Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.