GDP (current LCU), annual growth rate in Nigeria
Nigeria: GDP (current LCU), annual growth rate was 18.37 % change on previous year in 2024. ◆ Volatile
GDP (current LCU), annual growth rate in Nigeria, 1971–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
Nigeria recorded 18.37 % change on previous year for gdp (current lcu), annual growth rate in 2024.
Compared with earlier readings it is up 16.0% on the previous year and up 63.1% over ten years.
Over the whole period, gdp (current lcu), annual growth rate in Nigeria peaked at 177.13 % change on previous year in 1981 and was at its lowest, 4.47 % change on previous year, in 1984.
Nigeria ranks 26th of 211 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
GDP (current LCU), annual growth rate in Nigeria, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1971 | 15.78 % change on previous year | — |
| 1972 | 6.35 % change on previous year | -59.7% |
| 1973 | 11.03 % change on previous year | +73.5% |
| 1974 | 60.01 % change on previous year | +444.2% |
| 1975 | 17.04 % change on previous year | -71.6% |
| 1976 | 24.69 % change on previous year | +44.9% |
| 1977 | 17.38 % change on previous year | -29.6% |
| 1978 | 7.35 % change on previous year | -57.7% |
| 1979 | 19.02 % change on previous year | +158.9% |
| 1980 | 17.15 % change on previous year | -9.9% |
| 1981 | 177.13 % change on previous year | +933.0% |
| 1982 | 6.99 % change on previous year | -96.1% |
| 1983 | 6.51 % change on previous year | -6.9% |
| 1984 | 4.47 % change on previous year | -31.2% |
| 1985 | 13.25 % change on previous year | +196.1% |
| 1986 | 5.48 % change on previous year | -58.6% |
| 1987 | 23.5 % change on previous year | +328.9% |
| 1988 | 28.99 % change on previous year | +23.4% |
| 1989 | 31.45 % change on previous year | +8.5% |
| 1990 | 19.23 % change on previous year | -38.8% |
| 1991 | 19.29 % change on previous year | +0.3% |
| 1992 | 53.55 % change on previous year | +177.6% |
| 1993 | 38.76 % change on previous year | -27.6% |
| 1994 | 40.7 % change on previous year | +5.0% |
| 1995 | 75.27 % change on previous year | +85.0% |
| 1996 | 31.8 % change on previous year | -57.8% |
| 1997 | 8.14 % change on previous year | -74.4% |
| 1998 | 8.75 % change on previous year | +7.4% |
| 1999 | 14.09 % change on previous year | +61.1% |
| 2000 | 28.83 % change on previous year | +104.5% |
| 2001 | 16.59 % change on previous year | -42.4% |
| 2002 | 39.67 % change on previous year | +139.1% |
| 2003 | 17.87 % change on previous year | -55.0% |
| 2004 | 33.69 % change on previous year | +88.5% |
| 2005 | 27.58 % change on previous year | -18.1% |
| 2006 | 31.37 % change on previous year | +13.8% |
| 2007 | 14.16 % change on previous year | -54.9% |
| 2008 | 15.22 % change on previous year | +7.5% |
| 2009 | 8.78 % change on previous year | -42.3% |
| 2010 | 25.66 % change on previous year | +192.3% |
| 2011 | 15.61 % change on previous year | -39.2% |
| 2012 | 14.6 % change on previous year | -6.5% |
| 2013 | 11.97 % change on previous year | -18.0% |
| 2014 | 11.27 % change on previous year | -5.9% |
| 2015 | 5.59 % change on previous year | -50.4% |
| 2016 | 7.77 % change on previous year | +39.0% |
| 2017 | 12.01 % change on previous year | +54.6% |
| 2018 | 12.35 % change on previous year | +2.8% |
| 2019 | 12.82 % change on previous year | +3.8% |
| 2020 | 5.91 % change on previous year | -53.9% |
| 2021 | 14.15 % change on previous year | +139.2% |
| 2022 | 14.93 % change on previous year | +5.5% |
| 2023 | 15.84 % change on previous year | +6.1% |
| 2024 | 18.37 % change on previous year | +16.0% |
Nigeria compared with similar countries
- Nigeria's 18.37 % change on previous year is above the median for lower middle income countries, which is 9.89 % change on previous year, 1.9× the median. (47 countries reporting)
- Nigeria's 18.37 % change on previous year is above the median for Sub-Saharan Africa, which is 9.13 % change on previous year, 2.0× the median. (48 countries reporting)
Biggest year-on-year movements
Years where GDP (current 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 |
|---|---|---|---|
| 1981 | +933.0% | 17.15 % change on previous year | 177.13 % change on previous year |
| 1974 | +444.2% | 11.03 % change on previous year | 60.01 % change on previous year |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 19.85 % change on previous year | 6.35 % change on previous year | 60.01 % change on previous year | 9 |
| 1980s | 31.49 % change on previous year | 4.47 % change on previous year | 177.13 % change on previous year | 10 |
| 1990s | 30.96 % change on previous year | 8.14 % change on previous year | 75.27 % change on previous year | 10 |
| 2000s | 23.38 % change on previous year | 8.78 % change on previous year | 39.67 % change on previous year | 10 |
| 2010s | 12.96 % change on previous year | 5.59 % change on previous year | 25.66 % change on previous year | 10 |
| 2020s | 13.84 % change on previous year | 5.91 % change on previous year | 18.37 % change on previous year | 5 |
Countries ranked near Nigeria
- 23 Northern Mariana Islands 19.91 % change on previous year compare
- 24 Haiti 19.23 % change on previous year compare
- 25 Laos 18.76 % change on previous year compare
- 27 Niger 16.96 % change on previous year compare
- 28 American Samoa 16.13 % change on previous year compare
- 29 Yemen 15.72 % change on previous year compare
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 (current lcu), annual growth rate in Nigeria?
- Gdp (current lcu), annual growth rate in Nigeria was 18.37 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest gdp (current lcu), annual growth rate recorded in Nigeria?
- The highest recorded value was 177.13 % change on previous year in 1981.
- What is the lowest gdp (current lcu), annual growth rate recorded in Nigeria?
- The lowest recorded value was 4.47 % change on previous year in 1984.
- How does Nigeria rank for gdp (current lcu), annual growth rate?
- Nigeria ranks 26th out of 211 countries with data for 2024.
- Is gdp (current lcu), annual growth rate rising or falling in Nigeria?
- Over the last ten years it is up 63.1%. 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 (current 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 (current 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 (current LCU). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.