GDP (constant LCU), annual growth rate in Nigeria
Nigeria: GDP (constant LCU), annual growth rate was 3.43 % change on previous year in 2024. ◆ Volatile
GDP (constant LCU), annual growth rate in Nigeria, 1971–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
Nigeria recorded 3.43 % change on previous year for gdp (constant lcu), annual growth rate in 2024.
Compared with earlier readings it is up 19.8% on the previous year and down 45.7% over ten years.
Over the whole period, gdp (constant lcu), annual growth rate in Nigeria peaked at 15.33 % change on previous year in 2002 and was at its lowest, -13.13 % change on previous year, in 1981.
Nigeria ranks 97th of 212 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
GDP (constant LCU), annual growth rate in Nigeria, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1971 | 14.24 % change on previous year | — |
| 1972 | 3.36 % change on previous year | -76.4% |
| 1973 | 5.39 % change on previous year | +60.3% |
| 1974 | 11.16 % change on previous year | +107.0% |
| 1975 | -5.23 % change on previous year | -146.8% |
| 1976 | 9.04 % change on previous year | -273.0% |
| 1977 | 6.02 % change on previous year | -33.4% |
| 1978 | -5.76 % change on previous year | -195.7% |
| 1979 | 6.76 % change on previous year | -217.3% |
| 1980 | 4.2 % change on previous year | -37.8% |
| 1981 | -13.13 % change on previous year | -412.2% |
| 1982 | -6.8 % change on previous year | -48.2% |
| 1983 | -10.92 % change on previous year | +60.6% |
| 1984 | -1.12 % change on previous year | -89.8% |
| 1985 | 5.91 % change on previous year | -630.0% |
| 1986 | 0.0606 % change on previous year | -99.0% |
| 1987 | 3.2 % change on previous year | +5183.3% |
| 1988 | 7.33 % change on previous year | +129.2% |
| 1989 | 1.92 % change on previous year | -73.8% |
| 1990 | 11.78 % change on previous year | +513.5% |
| 1991 | 0.3584 % change on previous year | -97.0% |
| 1992 | 4.63 % change on previous year | +1192.1% |
| 1993 | -2.04 % change on previous year | -143.9% |
| 1994 | -1.81 % change on previous year | -10.8% |
| 1995 | -0.0726 % change on previous year | -96.0% |
| 1996 | 4.2 % change on previous year | -5878.4% |
| 1997 | 2.94 % change on previous year | -30.0% |
| 1998 | 2.58 % change on previous year | -12.1% |
| 1999 | 0.5844 % change on previous year | -77.4% |
| 2000 | 5.02 % change on previous year | +758.2% |
| 2001 | 5.92 % change on previous year | +18.0% |
| 2002 | 15.33 % change on previous year | +159.0% |
| 2003 | 7.35 % change on previous year | -52.1% |
| 2004 | 9.25 % change on previous year | +25.9% |
| 2005 | 6.44 % change on previous year | -30.4% |
| 2006 | 6.06 % change on previous year | -5.9% |
| 2007 | 6.59 % change on previous year | +8.8% |
| 2008 | 6.76 % change on previous year | +2.6% |
| 2009 | 8.04 % change on previous year | +18.8% |
| 2010 | 8.01 % change on previous year | -0.4% |
| 2011 | 5.31 % change on previous year | -33.7% |
| 2012 | 4.23 % change on previous year | -20.3% |
| 2013 | 6.67 % change on previous year | +57.7% |
| 2014 | 6.31 % change on previous year | -5.4% |
| 2015 | 2.65 % change on previous year | -58.0% |
| 2016 | -1.62 % change on previous year | -161.0% |
| 2017 | 0.8059 % change on previous year | -149.8% |
| 2018 | 1.92 % change on previous year | +138.6% |
| 2019 | 2.21 % change on previous year | +14.9% |
| 2020 | -1.79 % change on previous year | -181.2% |
| 2021 | 3.65 % change on previous year | -303.3% |
| 2022 | 3.25 % change on previous year | -10.8% |
| 2023 | 2.86 % change on previous year | -12.0% |
| 2024 | 3.43 % change on previous year | +19.8% |
Nigeria compared with similar countries
- Nigeria's 3.43 % change on previous year is below the median for lower middle income countries, which is 3.71 % change on previous year, 92% of the median. (47 countries reporting)
- Nigeria's 3.43 % change on previous year is below the median for Sub-Saharan Africa, which is 4.12 % change on previous year, 83% of the median. (48 countries reporting)
Biggest year-on-year movements
Years where GDP (constant LCU), annual growth rate 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 |
|---|---|---|---|
| 1996 | +5878.4% | -0.0726 % change on previous year | 4.2 % change on previous year |
| 1987 | +5183.3% | 0.0606 % change on previous year | 3.2 % change on previous year |
| 1992 | +1192.1% | 0.3584 % change on previous year | 4.63 % change on previous year |
| 2000 | +758.2% | 0.5844 % change on previous year | 5.02 % change on previous year |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 5 % change on previous year | -5.76 % change on previous year | 14.24 % change on previous year | 9 |
| 1980s | -0.9339 % change on previous year | -13.13 % change on previous year | 7.33 % change on previous year | 10 |
| 1990s | 2.31 % change on previous year | -2.04 % change on previous year | 11.78 % change on previous year | 10 |
| 2000s | 7.68 % change on previous year | 5.02 % change on previous year | 15.33 % change on previous year | 10 |
| 2010s | 3.65 % change on previous year | -1.62 % change on previous year | 8.01 % change on previous year | 10 |
| 2020s | 2.28 % change on previous year | -1.79 % change on previous year | 3.65 % change on previous year | 5 |
Countries ranked near Nigeria
More population data for Nigeria
- Population regions with projections, annual growth rate 0.0306 % change on previous year (2100)
- Urban and rural population 2050, annual growth rate -3.23 % change on previous year (2050)
- Population long run with projections, annual growth rate 0.0306 % change on previous year (2100)
- Un population 2024 vs 2022, annual growth rate 0.1509 % change on previous year (2100)
- Africa's Development Dynamics (AfDD) Table 05 - Demographic estimates 377,460 Persons (2050)
- Africa's Development Dynamics (AfDD) Table 03 - Annual population 2.22 Percent per annum (2030)
- Projected population under age 5, annual growth rate -0.5063 % change on previous year (2100)
- World population growth 0.0% (2100)
- Population density 523.46 people per km² (2100)
- Number of children under 5, by world region 32.05 million people (2100)
Frequently asked questions
- What is gdp (constant lcu), annual growth rate in Nigeria?
- Gdp (constant lcu), annual growth rate in Nigeria was 3.43 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest gdp (constant lcu), annual growth rate recorded in Nigeria?
- The highest recorded value was 15.33 % change on previous year in 2002.
- What is the lowest gdp (constant lcu), annual growth rate recorded in Nigeria?
- The lowest recorded value was -13.13 % change on previous year in 1981.
- How does Nigeria rank for gdp (constant lcu), annual growth rate?
- Nigeria ranks 97th out of 212 countries with data for 2024.
- Is gdp (constant lcu), annual growth rate rising or falling in Nigeria?
- Over the last ten years it is down 45.7%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from Statizoid (derived), published as part of GDP (constant LCU), annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 54 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
The year-on-year percentage change in GDP (constant LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- GDP UNESCO Institute for Statistics
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
The year-on-year percentage change in GDP (constant LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.