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Economy of Nigeria vs Seychelles compared: GDP & Debt

Updated on by Georank

Nigeria has a GDP of $291B compared to $2.39B for the Seychelles, ranking 50/197 and 177/197 by economy size, respectively.

Nigeria has $103B in government debt (35.5% of GDP), compared to $1.23B (51.5% of GDP) in the Seychelles.

Nigeria vs Seychelles GDP by year

Nigeria
Seychelles
1x
Year GDP, current $
Nigeria Seychelles
2025 $290,794,361,542 $2,387,022,853
2024 $252,261,880,140 $2,228,608,684
2023 $487,387,801,878 $2,171,547,935
2022 $646,950,257,575 $1,999,888,599
2021 $609,147,716,965 $1,487,173,795
2020 $598,586,817,817 $1,382,551,752
2019 $668,219,992,687 $1,868,690,097
2018 $421,739,251,509 $1,784,313,927
2017 $375,745,731,053 $1,675,370,641
2016 $404,649,125,252 $1,568,513,348
2015 $493,026,682,801 $1,432,403,352
2014 $574,183,763,412 $1,387,577,870
2013 $520,117,180,314 $1,333,160,407
2012 $463,971,018,239 $1,089,407,839
2011 $414,466,676,831 $1,058,918,707
2010 $366,990,417,129 $981,616,542
2009 $295,008,835,381 $850,901,620
2008 $339,476,276,258 $979,597,394
2007 $278,260,846,800 $1,077,308,814
2006 $238,454,997,161 $1,081,441,283
2005 $175,670,569,969 $977,899,382
2004 $135,764,731,646 $893,012,218
2003 $104,738,954,264 $750,847,230
2002 $95,054,059,303 $742,134,838
2001 $73,557,840,064 $662,064,156
2000 $69,171,451,627 $654,212,394
1999 $59,145,077,039 $662,838,615
1998 $218,416,200,673 $647,287,376
1997 $200,850,397,618 $598,966,982
1996 $185,730,236,700 $535,250,347
1995 $140,919,776,986 $540,733,048
1994 $80,399,613,064 $517,570,058
1993 $56,721,051,402 $504,230,621
1992 $52,058,181,854 $461,409,399
1991 $59,526,833,412 $398,307,170
1990 $54,035,795,388 $392,163,561
1989 $44,003,061,108 $324,333,367
1988 $49,648,470,440 $301,985,618
1987 $52,676,041,931 $265,212,957
1986 $54,805,852,581 $221,147,061
1985 $73,745,821,158 $179,691,483
1984 $73,484,359,521 $160,992,921
1983 $97,094,911,792 $156,098,237
1982 $142,769,363,314 $157,211,790
1981 $164,475,209,516 $163,750,728
1980 $64,201,788,123 $156,783,830
1979 $47,259,911,894 $127,261,099
1978 $36,527,862,209 $85,552,366
1977 $36,035,407,725 $64,526,401
1976 $36,308,883,249 $49,278,982
1975 $27,778,934,625 $47,803,146
1974 $24,846,641,318 $43,134,496
1973 $15,162,871,287 $36,896,280
1972 $12,274,416,018 $30,645,123
1971 $9,181,769,912 $21,965,951
1970 $12,546,094,982 $18,432,032
1969 $6,634,317,346 $16,452,028
1968 $5,200,997,920 $16,074,028
1967 $5,203,237,919 $16,632,032
1966 $6,366,917,453 $16,443,034
1965 $5,874,537,650 $15,603,032
1964 $5,552,931,319 $15,393,032
1963 $5,165,590,254 $13,923,029
1962 $4,909,399,176 $12,642,026
1961 $4,467,287,893 $11,592,024
1960 $4,196,174,502 $12,012,025

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/nigeria/seychelles | CC BY

GDP per capita in Nigeria vs Seychelles by year

Nigeria
GDP per capita

GDP per capita, PPP
Seychelles
GDP per capita

GDP per capita, PPP
1x
Year Current $
Nigeria Seychelles
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $1,224 - $19,449 -
2024 $1,084 $9,087 $18,365 $33,239
2023 $2,139 $8,705 $18,131 $31,781
2022 $2,899 $8,305 $16,683 $29,973
2021 $2,787 $7,588 $14,983 $29,980
2020 $2,797 $7,415 $14,041 $31,056
2019 $3,190 $7,551 $19,142 $34,219
2018 $2,058 $7,158 $18,440 $32,091
2017 $1,876 $7,037 $17,480 $30,675
2016 $2,070 $7,072 $16,567 $28,811
2015 $2,586 $7,308 $15,333 $25,435
2014 $3,089 $7,396 $15,188 $24,985
2013 $2,873 $7,004 $14,821 $22,487
2012 $2,633 $6,671 $12,337 $22,264
2011 $2,418 $6,585 $12,110 $21,781
2010 $2,202 $6,301 $10,935 $18,982
2009 $1,820 $5,927 $9,747 $18,453
2008 $2,154 $5,607 $11,265 $18,881
2007 $1,816 $5,298 $12,669 $19,473
2006 $1,600 $4,975 $12,783 $17,503
2005 $1,211 $4,678 $11,802 $15,846
2004 $962 $4,381 $10,828 $14,160
2003 $763 $4,015 $9,070 $14,142
2002 $712 $3,770 $8,864 $14,570
2001 $566 $3,309 $8,153 $14,615
2000 $547 $3,139 $8,064 $14,638
1999 $481 $3,002 $8,243 $13,853
1998 $1,822 $3,022 $8,210 $13,675
1997 $1,720 $2,990 $7,747 $13,458
1996 $1,633 $2,931 $7,004 $11,931
1995 $1,272 $2,835 $7,181 $10,809
1994 $745 $2,853 $6,975 $10,692
1993 $540 $2,921 $6,979 $11,020
1992 $509 $2,991 $6,520 $10,243
1991 $597 $2,870 $5,655 $9,387
1990 $556 $2,840 $5,642 $8,955
1989 $465 - $4,689 -
1988 $540 - $4,392 -
1987 $588 - $3,872 -
1986 $628 - $3,368 -
1985 $869 - $2,754 -
1984 $890 - $2,488 -
1983 $1,207 - $2,426 -
1982 $1,822 - $2,441 -
1981 $2,162 - $2,557 -
1980 $870 - $2,478 -
1979 $661 - $2,030 -
1978 $527 - $1,377 -
1977 $536 - $1,044 -
1976 $556 - $814 -
1975 $438 - $806 -
1974 $403 - $745 -
1973 $252.4 - $649 -
1972 $209.5 - $547 -
1971 $160.5 - $402 -
1970 $224.5 - $344 -
1969 $121.4 - $314 -
1968 $97.3 - $314 -
1967 $99.5 - $333 -
1966 $124.4 - $338 -
1965 $117.3 - $328 -
1964 $113.3 - $332 -
1963 $107.7 - $308 -
1962 $104.5 - $287 -
1961 $97.1 - $270.3 -
1960 $93.1 - $288.1 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/nigeria/seychelles | CC BY

Nigeria's GDP per capita is $1,224, ranking 172/197, compared to $19,449 in the Seychelles, ranking 64/197. Adjusted for purchasing power (GDP per capita PPP), Nigeria ranks 136th at $9,087, while the Seychelles ranks 67th at $33,239.

Economic indicators

Nigeria Seychelles
Gross domestic product
$291B
2025
$2.39B
2025
GDP rank
50/197
2025
177/197
2025
GDP growth
4.01%
2024-2025
5.8%
2024-2025
GDP per capita
$1,224
2025
$19,449
2025
GDP per capita rank
172/197
2025
64/197
2025
GDP per capita, PPP
$9,087
2024
$33,239
2024
GDP per capita PPP rank
136/197
2024
67/197
2024
Government debt
$103B
2025
$1.23B
2025
Debt-to-GDP ratio
35.5%
2025
51.5%
2025
Government debt per person
$434
2025
$10,019
2025
Government debt per person rank
170/185
2025
59/185
2025
Average annual personal income after taxes
$768
2026
$11,537
2026
Market capitalization of domestic companies
$86.9B
2025
$646M
2025
Number of billionaires
4
2026
n/a
Income share by richest 10%
26.3%
2022
23.9%
2018
Income share by poorest 10%
3%
2022
2.6%
2018
Government expenditure, % of GDP
11.7%
2025
32.7%
2025
Consumer prices inflation
23%
2024-2025
0.3%
2024-2025
Central bank interest rate
26.5%
2026
1.75%
2024
Unemployment rate
3.45%
2024
2.59%
2024
Population
245016045
125859

Spending and national debt comparison by year

Nigeria
Spending

Debt
Seychelles
Spending

Debt
1x
Year % of GDP
Nigeria Seychelles
Government spending Government debt Government spending Government debt
2025 11.7% 35.5% 32.7% 51.5%
2024 12% 39.3% 33% 56.1%
2023 10.4% 36.3% 33.1% 55.1%
2022 10.6% 29.8% 31.6% 60.6%
2021 9.09% 26.6% 38.8% 71%
2020 8.73% 25.7% 46.7% 77.4%
2019 8.87% 21.4% 31.7% 48.9%
2018 9.1% 20.4% 33% 51.3%
2017 8.51% 18% 34.3% 56.7%
2016 6.93% 17.4% 34.5% 64.3%
2015 7.85% 14.9% 31.5% 75.4%
2014 9.49% 15.8% 33.4% 70.4%
2013 10% 13% 37.8% 68.2%
2012 10.5% 12.5% 38.6% 80.1%
2011 12.3% 12.4% 36.4% 82.5%
2010 11.8% 6.67% 34.6% 82.2%
2009 11% 6.12% 32.1% 106.1%
2008 10.2% 5.17% 27% 192.1%
2007 12.9% 5.76% 41.9% 144%
2006 8.75% 6.68% 43.6% 135.1%
2005 12.6% 13.4% 39% 144.1%
2004 13% 25.2% 39.9% 163.2%
2003 16.5% 29.9% 44.6% 177%
2002 13.8% 30.7% 56.3% 195.9%
2001 21.9% 37.7% 46.8% 199.8%
2000 17.6% 40.9% 55.4% 177.8%
1999 14.9% 46.1% 56.1% 159.8%
1998 11.2% 15.8% 60.7% 161.2%
1997 9.68% 17.1% 54.7% 143%
1996 7.87% 17.9% 59.1% 146.7%
1995 8.87% 24.2% 53.1% 133.5%
1994 12.1% 39.7% 63.6% 123.5%
1993 20% 50.4% 60.4% 82.2%
1992 15.9% 49.8% 50.7% 79.9%
1991 13.6% 53.2% 52.1% 89.2%
1990 14.2% 50.9% 46.1% 80.4%
1989 - - 51.7% 39.9%
1988 - - 46.7% 41.3%
1987 - - 49.7% 37%
1986 - - 58% 31.5%
1985 - - 53% 26.5%
1984 - - 50.5% 15.3%
1983 - - 47.9% 12.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1983–1989, retrieved 2026-07-08).

GeoRank.org/economy/nigeria/seychelles | CC BY

In 2025, Nigeria's government spending was $34.1B, accounting for 11.7% of its GDP, while the Seychelles spent $781M, or 32.7% of GDP.

Debt-to-GDP ratio is 35.5% in Nigeria and 51.5% in the Seychelles, ranking 143/185 and 102/185, respectively.

Government deficit by year

Deficit/surplus
Nigeria

Seychelles
1x
Year Deficit/surplus, % of GDP
Nigeria Seychelles
2025 -1.76% -0.99%
2024 -1.27% -0.68%
2023 -3.12% -1.15%
2022 -4% -0.77%
2021 -3.97% -5.76%
2020 -4.03% -15.7%
2019 -3.31% 0.42%
2018 -3.06% -0.8%
2017 -3.85% -1.67%
2016 -3.3% 0.02%
2015 -2.7% 1.39%
2014 -1.72% 2.87%
2013 -1.89% 0.33%
2012 -0.09% 2.93%
2011 0.31% 3.36%
2010 -2.96% 0.52%
2009 -3.78% 4.84%
2008 4.05% 7.88%
2007 -0.79% -9.93%
2006 6.22% -2.54%
2005 3.49% 0.42%
2004 3.9% 0.44%
2003 -1.56% 3.4%
2002 0.95% -16.3%
2001 -2.29% -8.93%
2000 2.89% -14.7%
1999 -1.39% -10.3%
1998 -3.47% -16.7%
1997 1.14% -5.91%
1996 3.37% -9.69%
1995 2.52% -2.58%
1994 -2.96% -6.95%
1993 -6.07% -3.62%
1992 0.94% 6.44%
1991 -1.18% 3.15%
1990 -0.48% 11.9%
1989 - 8.26%
1988 - 11.8%
1987 - 2.77%
1986 - -10.1%
1985 - -4.86%
1984 - -6.09%
1983 - -3.13%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1983–1989, retrieved 2026-07-08).

GeoRank.org/economy/nigeria/seychelles | CC BY

In 2025, Nigeria's government deficit, the difference between spending and revenue, was $5.12B, equivalent to 1.76% of GDP. This compares to the Seychelles' deficit of $23.5M, or 0.99% of GDP.

Over the past 36 years, Nigeria recorded a fiscal deficit in 25 of those years, while the Seychelles ran a deficit in 20 years. On average, Nigeria posted an annual deficit equal to 0.98% of GDP, compared to deficit of 2.37% of GDP for the Seychelles.

Inflation comparison by year

Inflation
Nigeria

Seychelles
1x
Year Consumer prices inflation
Nigeria Seychelles
2025 23% 0.3%
2024 33.2% 0.31%
2023 24.7% -1.04%
2022 18.8% 2.63%
2021 17% 9.77%
2020 13.2% 1.2%
2019 11.4% 1.81%
2018 12.1% 3.7%
2017 16.5% 2.86%
2016 15.7% -1.02%
2015 9.01% 4.04%
2014 8.05% 1.39%
2013 8.5% 4.34%
2012 12.2% 7.11%
2011 10.8% 2.56%
2010 13.7% -2.4%
2009 12.5% 31.8%
2008 11.6% 37%
2007 5.39% 5.32%
2006 8.23% -0.35%
2005 17.9% 0.91%
2004 15% 3.86%
2003 14% 3.3%
2002 12.9% 0.18%
2001 18.9% 5.97%
2000 6.93% 6.27%
1999 6.62% 6.35%
1998 10% 2.58%
1997 8.53% 0.62%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/nigeria/seychelles | CC BY

Over the past 29 years, Nigeria has recorded an average annual inflation rate of 13.7%, compared with 4.87% in the Seychelles. In 2025, inflation was 23% in Nigeria and 0.3% in the Seychelles.

Top exports between countries

Nigeria
Export category Export value
Seychelles
Export category Export value
Processed food, beverages & tobacco $298K
Machinery & equipment $29K
Metals $2K
Animal & marine products $1K
Textiles & consumer goods $1K

Balance of trade

Nigeria Seychelles
Current account balance
$14B
2025
-$166M
2024
Current account balance ranking
21/190
2025
90/190
2024
Current account balance, % of GDP
+4.83%
2025
-7.46%
2024
Goods imports
$43B
2025
$1.38B
2024
Goods exports
$57.5B
2025
$595M
2024
Service imports
$19.6B
2025
$1B
2024
Service exports
$5.06B
2025
$1.71B
2024
Imports of goods and services, % of GDP
16.9%
1960
92.7%
2025
Exports of goods and services, % of GDP
9.24%
1960
79.6%
2025

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Nigeria Seychelles
Economic freedom 54.8 66.5
Economic freedom ranking 132/197 60/197
Property rights 29.7 82.6
Government integrity 23.5 71.7
Judicial effectiveness 34.4 61.7
Tax burden 84.6 77.3
Government spending 96.3 68
Fiscal health 83.5 92.2
Business freedom 50.3 71.3
Labor freedom 75.4 52
Monetary freedom 56.1 79.8
Trade freedom 64.4 81.2
Investment freedom 30 30
Financial freedom 30 30

Economic freedom comparison by year

Nigeria
Seychelles
1x
Year Economic freedom index
Nigeria Seychelles
2026 54.8 66.5
2025 53.4 66.4
2024 53.1 60.4
2023 53.9 59.5
2022 54.4 61.1
2021 58.7 66.3
2020 57.2 64.3
2019 57.3 61.4
2018 58.5 61.6
2017 57.1 61.8
2016 57.5 62.2
2015 55.6 57.5
2014 54.3 56.2
2013 55.1 54.9
2012 56.3 53
2011 56.7 51.2
2010 56.8 47.9
2009 55.1 47.8
2008 55.1 -
2007 55.6 -
2006 48.7 -
2005 48.4 -
2004 49.2 -
2003 49.5 -
2002 50.9 -
2001 49.6 -
2000 53.1 -
1999 55.7 -
1998 52.3 -
1997 52.8 -
1996 47.4 -
1995 47.3 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/nigeria/seychelles | CC BY

The Economic Freedom Index for Nigeria is 54.8, ranking 132/197, compared to 66.5 for the Seychelles, ranking 60/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Nigeria Seychelles
Services, % of GDP
58.2%
2025
67.9%
2025
Industry, % of GDP
16.4%
2025
14.3%
2025
Agriculture, forestry, and fishing, % of GDP
23%
2025
2.61%
2025
GNI, Atlas method
$324B
2025
$2.36B
2025
GNI per capita, PPP
$9,230
2025
$34,930
2025
Total reserves including gold
$46B
2025
$774M
2024
Total reserves ranking
52/177
2025
146/177
2024
Net foreign direct investment
-$2.82B
2025
-$268M
2024
Net inflows of foreign direct investment
$1.61B
2024
$226M
2024
Net outflows of foreign direct investment
$408M
2024
-$41.4M
2024
Servicing debt to the IMF, % of GNI
5.46%
2024
n/a
Poverty at national poverty lines
56.2%
2023
25.3%
2018
Gross capital formation, % of GDP n/a
18.7%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/nigeria/seychelles | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1983–1989, retrieved 2026-07-08)
  6. TradeMap (2021–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.