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Nigeria GDP

Nigeria's GDP fell to $187.76 billion in 2024, down from $363.85 billion in 2023, according to World Bank. This represents a decrease of 48.4% ($176.09 billion) from the previous year and accounts for 0.17% of the world's total GDP. Nigeria has GDP higher than the global median ($187.76 billion vs median $35.85 billion). Compared with the median in Africa, Nigeria is higher ($187.76 billion vs regional median $20.75 billion) and ranks 4th out of 52 countries in Africa.

Nigeria's GDP per capita rose to $2,447.64 in 2024, up from $2,416.36 in 2023.

Yearly Historical Data (1960-2024)

(in Billion USD)
Year GDP (Billion USD)
2024 187.76
2023 363.85
2022 477.4
2021 440.83
2020 432.2
2019 474.52
2018 421.74
2017 375.75
2016 404.65
2015 493.03
2014 574.18
2013 520.12
2012 463.97
2011 414.47
2010 366.99
2009 295.01
2008 339.48
2007 278.26
2006 238.45
2005 175.67
2004 135.76
2003 104.74
2002 95.05
2001 73.56
2000 69.17
1999 59.15
1998 218.42
1997 200.85
1996 185.73
1995 140.92
1994 80.4
1993 56.72
1992 52.06
1991 59.53
1990 54.04
1989 44
1988 49.65
1987 52.68
1986 54.81
1985 73.75
1984 73.48
1983 97.09
1982 142.77
1981 164.48
1980 64.2
1979 47.26
1978 36.53
1977 36.04
1976 36.31
1975 27.78
1974 24.85
1973 15.16
1972 12.27
1971 9.18
1970 12.55
1969 6.63
1968 5.2
1967 5.2
1966 6.37
1965 5.87
1964 5.55
1963 5.17
1962 4.91
1961 4.47
1960 4.2
Nigeria GDP : Definition
GDP measures the total value of all goods and services produced in Nigeria, measured in current US dollars. It is also called Nominal GDP.
Indicator Last Value Prior Value Period
GDP Annual Growth Rate 3.43% 2.86% 2024
GDP Growth Rate (QoQ) 10% 0% Sep'24
GDP Growth Rate (YoY) 4.2% 3.1% Jun'25
GDP per Capita $2,447.64 $2,416.36 2024
GDP per Capita PPP $5,665.45 $5,593.06 2024
R&D Expenditure (% GDP) 0.28% 0.13% 2019
Real GDP $569.52B $550.65B 2024