Price level ratio of PPP conversion factor (GDP) to market exchange in Nigeria
Nigeria: Price level ratio of PPP conversion factor (GDP) to market exchange was 0.1253 in 2024. ▬ Flat
Price level ratio of PPP conversion factor (GDP) to market exchange in Nigeria, 1990–2024
Source: UNESCO Institute for Statistics.
Analysis
In 2024, price level ratio of ppp conversion factor (gdp) to market exchange in Nigeria stood at 0.1253. That is the lowest value across all 35 years on record.
The figure is down 51.3% on the previous year and down 78.7% over ten years.
Over the whole period, price level ratio of ppp conversion factor (gdp) to market exchange in Nigeria peaked at 0.7902 in 1998 and was at its lowest, 0.1253, in 2024.
Nigeria ranks 202nd of 202 countries on this measure, in the bottom quarter.
Price level ratio of PPP conversion factor (GDP) to market exchange in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 1990 | 0.2567 | — |
| 1991 | 0.2725 | +6.2% |
| 1992 | 0.2227 | -18.3% |
| 1993 | 0.242 | +8.6% |
| 1994 | 0.342 | +41.3% |
| 1995 | 0.5876 | +71.8% |
| 1996 | 0.7299 | +24.2% |
| 1997 | 0.7538 | +3.3% |
| 1998 | 0.7902 | +4.8% |
| 1999 | 0.2098 | -73.5% |
| 2000 | 0.2284 | +8.9% |
| 2001 | 0.2243 | -1.8% |
| 2002 | 0.2475 | +10.3% |
| 2003 | 0.2491 | +0.7% |
| 2004 | 0.284 | +14.0% |
| 2005 | 0.3347 | +17.9% |
| 2006 | 0.4156 | +24.2% |
| 2007 | 0.4429 | +6.6% |
| 2008 | 0.4966 | +12.1% |
| 2009 | 0.397 | -20.1% |
| 2010 | 0.4922 | +24.0% |
| 2011 | 0.5171 | +5.1% |
| 2012 | 0.5559 | +7.5% |
| 2013 | 0.5776 | +3.9% |
| 2014 | 0.5881 | +1.8% |
| 2015 | 0.4983 | -15.3% |
| 2016 | 0.4122 | -17.3% |
| 2017 | 0.3755 | -8.9% |
| 2018 | 0.4048 | +7.8% |
| 2019 | 0.4224 | +4.3% |
| 2020 | 0.3772 | -10.7% |
| 2021 | 0.3673 | -2.6% |
| 2022 | 0.3596 | -2.1% |
| 2023 | 0.2572 | -28.5% |
| 2024 | 0.1253 | -51.3% |
Nigeria compared with similar countries
- Nigeria's 0.1253 is below the median for lower middle income countries, which is 0.327, 38% of the median. (47 countries reporting)
- Nigeria's 0.1253 is below the median for Sub-Saharan Africa, which is 0.3422, 37% of the median. (48 countries reporting)
Biggest year-on-year movements
Years where Price level ratio of PPP conversion factor (GDP) to market exchange 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 |
|---|---|---|---|
| 1999 | -73.5% | 0.7902 | 0.2098 |
| 1995 | +71.8% | 0.342 | 0.5876 |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.4407 | 0.2098 | 0.7902 | 10 |
| 2000s | 0.332 | 0.2243 | 0.4966 | 10 |
| 2010s | 0.4844 | 0.3755 | 0.5881 | 10 |
| 2020s | 0.2973 | 0.1253 | 0.3772 | 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)
- Population growth rate 0.023 (2100)
- Population density 523.46 (2100)
- Projected population under age 5 32.05 million (2100)
Frequently asked questions
- What is price level ratio of ppp conversion factor (gdp) to market exchange in Nigeria?
- Price level ratio of ppp conversion factor (gdp) to market exchange in Nigeria was 0.1253 in 2024, according to UNESCO Institute for Statistics.
- What is the highest price level ratio of ppp conversion factor (gdp) to market exchange recorded in Nigeria?
- The highest recorded value was 0.7902 in 1998.
- What is the lowest price level ratio of ppp conversion factor (gdp) to market exchange recorded in Nigeria?
- The lowest recorded value was 0.1253 in 2024.
- How does Nigeria rank for price level ratio of ppp conversion factor (gdp) to market exchange?
- Nigeria ranks 202nd out of 202 countries with data for 2024.
- Is price level ratio of ppp conversion factor (gdp) to market exchange rising or falling in Nigeria?
- Over the last ten years it is down 78.7%. The long-run trend across the full record is flat.
- Where does this Nigeria data come from?
- The figures come from UNESCO Institute for Statistics, published as part of Price level ratio of PPP conversion factor (GDP) to market exchange rate. Statizoid updates them automatically from the source API.
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About this data
February 2026 Data Release