Gross domestic product (GDP), Current prices, Fiscal year, Domestic in Nigeria
Nigeria: Gross domestic product (GDP), Current prices, Fiscal year, Domestic was 1,058.01 trillion in 2031. ◆ Volatile
Gross domestic product (GDP), Current prices, Fiscal year, Domestic in Nigeria, 1990–2031
Source: International Monetary Fund.
Analysis
In 2031, gross domestic product (gdp), current prices, fiscal year, domestic in Nigeria stood at 1,058.01 trillion. That is the highest value across all 42 years on record.
The figure is up 14.0% on the previous year and up 334.9% over ten years.
Over the whole period, gross domestic product (gdp), current prices, fiscal year, domestic in Nigeria peaked at 1,058.01 trillion in 2031 and was at its lowest, 703.65 billion, in 1990.
That places Nigeria 3rd out of 26 countries with data for 2031, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Gross domestic product (GDP), Current prices, Fiscal year, Domestic in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 1990 | 703.65 billion | — |
| 1991 | 839.36 billion | +19.3% |
| 1992 | 1.28 trillion | +52.6% |
| 1993 | 1.77 trillion | +38.4% |
| 1994 | 2.48 trillion | +40.0% |
| 1995 | 4.08 trillion | +64.2% |
| 1996 | 5.32 trillion | +30.5% |
| 1997 | 5.79 trillion | +8.8% |
| 1998 | 6.46 trillion | +11.6% |
| 1999 | 7.47 trillion | +15.7% |
| 2000 | 9.71 trillion | +30.0% |
| 2001 | 11.45 trillion | +17.9% |
| 2002 | 15.96 trillion | +39.3% |
| 2003 | 18.73 trillion | +17.4% |
| 2004 | 24.39 trillion | +30.2% |
| 2005 | 31.36 trillion | +28.6% |
| 2006 | 40.36 trillion | +28.7% |
| 2007 | 46.46 trillion | +15.1% |
| 2008 | 55.14 trillion | +18.7% |
| 2009 | 62.36 trillion | +13.1% |
| 2010 | 78.11 trillion | +25.3% |
| 2011 | 89.72 trillion | +14.9% |
| 2012 | 102.23 trillion | +13.9% |
| 2013 | 114.08 trillion | +11.6% |
| 2014 | 126.93 trillion | +11.3% |
| 2015 | 134.03 trillion | +5.6% |
| 2016 | 144.45 trillion | +7.8% |
| 2017 | 161.80 trillion | +12.0% |
| 2018 | 181.78 trillion | +12.3% |
| 2019 | 205.09 trillion | +12.8% |
| 2020 | 213.64 trillion | +4.2% |
| 2021 | 243.30 trillion | +13.9% |
| 2022 | 274.23 trillion | +12.7% |
| 2023 | 314.02 trillion | +14.5% |
| 2024 | 372.83 trillion | +18.7% |
| 2025 | 441.54 trillion | +18.4% |
| 2026 | 529.30 trillion | +19.9% |
| 2027 | 617.76 trillion | +16.7% |
| 2028 | 710.34 trillion | +15.0% |
| 2029 | 813.18 trillion | +14.5% |
| 2030 | 928.15 trillion | +14.1% |
| 2031 | 1,058.01 trillion | +14.0% |
Nigeria compared with similar countries
- Nigeria's 1,058.01 trillion is above the median for lower middle income countries, which is 38.91 trillion, 27.2× the median. (5 countries reporting)
Biggest year-on-year movements
Years where Gross domestic product (GDP), Current prices, Fiscal year, Domestic in Nigeria changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1995 | +64.2% | 2.48 trillion | 4.08 trillion |
| 1992 | +52.6% | 839.36 billion | 1.28 trillion |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 3.62 trillion | 703.65 billion | 7.47 trillion | 10 |
| 2000s | 31.59 trillion | 9.71 trillion | 62.36 trillion | 10 |
| 2010s | 133.82 trillion | 78.11 trillion | 205.09 trillion | 10 |
| 2020s | 453.01 trillion | 213.64 trillion | 813.18 trillion | 10 |
| 2030s | 993.08 trillion | 928.15 trillion | 1,058.01 trillion | 2 |
Countries ranked near Nigeria
More public sector data for Nigeria
- Arms imports 67.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 0.2879 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0003 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate -27.96 % change on previous year (2024)
- Arms imports (SIPRI trend indicator values), gaps filled 67.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 4.87 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0045 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate -63.46 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 1.13 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 102.11 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is gross domestic product (gdp), current prices, fiscal year, domestic in Nigeria?
- Gross domestic product (gdp), current prices, fiscal year, domestic in Nigeria was 1,058.01 trillion in 2031, according to International Monetary Fund.
- What is the highest gross domestic product (gdp), current prices, fiscal year, domestic recorded in Nigeria?
- The highest recorded value was 1,058.01 trillion in 2031.
- What is the lowest gross domestic product (gdp), current prices, fiscal year, domestic recorded in Nigeria?
- The lowest recorded value was 703.65 billion in 1990.
- How does Nigeria rank for gross domestic product (gdp), current prices, fiscal year, domestic?
- Nigeria ranks 3rd out of 26 countries with data for 2031.
- Is gross domestic product (gdp), current prices, fiscal year, domestic rising or falling in Nigeria?
- Over the last ten years it is up 334.9%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from International Monetary Fund, published as part of Gross domestic product (GDP), Current prices, Fiscal year, Domestic currency (9/26/2025). Statizoid updates them automatically from the source API.
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About this data
The World Economic Outlook (WEO) database is created during the biannual WEO exercise, which begins in January and June of each year and results in the April and September/October WEO publication. Selected series from the publication are available in a database format.