Nigeria recorded a Government Budget deficit equal to 2.80 percent of the country's Gross Domestic Product in 2018. Government Budget in Nigeria averaged -2.31 percent of GDP from 1981 until 2018, reaching an all time high of 0.80 percent of GDP in 1996 and a record low of -6 percent of GDP in 1991. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides - Nigeria Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Nigeria recorded a Current Account surplus of 2.30 percent of the country's Gross Domestic Product in 2018. Current Account to GDP in Nigeria averaged 2.07 percent from 1980 until 2018, reaching an all time high of 32.80 percent in 2005 and a record low of -18.70 percent in 1986. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes. This page provides - Nigeria Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Nigeria scored 26 points out of 100 on the 2019 Corruption Perceptions Index reported by Transparency International. Corruption Index in Nigeria averaged 20.98 Points from 1996 until 2019, reaching an all time high of 28 Points in 2016 and a record low of 6.90 Points in 1996. The Corruption Perceptions Index ranks countries and territories based on how corrupt their public sector is perceived to be. A country or territory’s score indicates the perceived level of public sector corruption on a scale of 0 (highly corrupt) to 100 (very clean). This page provides the latest reported value for - Nigeria Corruption Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Nigeria is the 146 least corrupt nation out of 175 countries, according to the 2019 Corruption Perceptions Index reported by Transparency International. Corruption Rank in Nigeria averaged 122.50 from 1996 until 2019, reaching an all time high of 152 in 2005 and a record low of 52 in 1997. The Corruption Perceptions Index ranks countries and territories based on how corrupt their public sector is perceived to be. A country or territory's rank indicates its position relative to the other countries and territories in the index. This page provides the latest reported value for - Nigeria Corruption Rank - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The Sales Tax Rate in Nigeria stands at 7.50 percent. Sales Tax Rate in Nigeria averaged 5.17 percent from 2006 until 2020, reaching an all time high of 7.50 percent in 2020 and a record low of 5 percent in 2007. In Nigeria, the sales tax rate is a tax charged to consumers based on the purchase price of certain goods and services. The benchmark we use for the sales tax rate refers to the highest rate. Revenues from the Sales Tax Rate are an important source of income for the government of Nigeria. This page provides - Nigeria Sales Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Corporate Tax Rate in Nigeria stands at 30 percent. In Nigeria, the Corporate Income tax rate is a tax collected from companies. Its amount is based on the net income companies obtain while exercising their business activity, normally during one business year. The benchmark we use refers to the highest rate for Corporate Income. Revenues from the Corporate Tax Rate are an important source of income for the government of Nigeria. This page provides - Nigeria Corporate Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Minimum Wages in Nigeria remained unchanged at 30000 NGN/Month in 2020 from 30000 NGN/Month in 2019. Minimum Wages in Nigeria averaged 26000 NGN/Month from 2018 until 2020, reaching an all time high of 30000 NGN/Month in 2019 and a record low of 18000 NGN/Month in 2018. Minimum Wages in Nigeria refers to the national minimum wage for the federal workers. This page provides - Nigeria Minimum Wages- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Government Revenues in Nigeria decreased to 938.72 NGN Billion in the fourth quarter of 2019 from 1738.81 NGN Billion in the third quarter of 2019. Government Revenues in Nigeria averaged 872.76 NGN Billion from 2010 until 2019, reaching an all time high of 1738.81 NGN Billion in the third quarter of 2019 and a record low of 498.54 NGN Billion in the second quarter of 2015. Government Revenues refer to all receipts the government gets, including taxes, custom duties, revenue from state-owned enterprises, capital revenues and foreign aid. Government Revenues are part of government budget balance calculation. This page provides - Nigeria Government Revenues- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Nigeria recorded a government budget deficit of 1135.74 NGN Billion in the fourth quarter of 2019. Government Budget Value in Nigeria averaged -496.80 NGN Billion from 2010 until 2019, reaching an all time high of 38.36 NGN Billion in the third quarter of 2010 and a record low of -1664.20 NGN Billion in the third quarter of 2017. The government budget balance is the difference between government revenues and expenses. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues. This page provides - Nigeria Government Budget Value- actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP Constant Prices in Nigeria increased to 19750934.72 NGN Million in the fourth quarter of 2019 from 18697323.82 NGN Million in the third quarter of 2019. GDP Constant Prices in Nigeria averaged 4281187.63 NGN Million from 1981 until 2019, reaching an all time high of 19750934.72 NGN Million in the fourth quarter of 2019 and a record low of 56260.04 NGN Million in the third quarter of 1984. This page provides - Nigeria GDP Constant Prices - actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP Deflator in Nigeria decreased to 202.67 points in the fourth quarter of 2019 from 204.43 points in the third quarter of 2019. GDP Deflator in Nigeria averaged 54.41 points from 1981 until 2019, reaching an all time high of 206.73 points in the second quarter of 2019 and a record low of 0.60 points in the first quarter of 1981. This page provides - Nigeria Gdp Deflator- actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP From Agriculture in Nigeria decreased to 5093983.13 NGN Million in the fourth quarter of 2019 from 5408978.92 NGN Million in the third quarter of 2019. GDP From Agriculture in Nigeria averaged 3904516.85 NGN Million from 2010 until 2019, reaching an all time high of 5408978.92 NGN Million in the third quarter of 2019 and a record low of 2594759.86 NGN Million in the first quarter of 2010. This page provides the latest reported value for - Nigeria Gdp From Agriculture - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

GDP From Construction in Nigeria increased to 671110.60 NGN Million in the fourth quarter of 2019 from 557147.53 NGN Million in the third quarter of 2019. GDP From Construction in Nigeria averaged 580599.91 NGN Million from 2010 until 2019, reaching an all time high of 752833.66 NGN Million in the second quarter of 2019 and a record low of 369190.91 NGN Million in the third quarter of 2010. This page provides the latest reported value for - Nigeria Gdp From Construction - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

GDP From Manufacturing in Nigeria increased to 1707263.24 NGN Million in the fourth quarter of 2019 from 1616584.64 NGN Million in the third quarter of 2019. GDP From Manufacturing in Nigeria averaged 1428930.97 NGN Million from 2010 until 2019, reaching an all time high of 1718985.30 NGN Million in the third quarter of 2014 and a record low of 875408.17 NGN Million in the first quarter of 2010. This page provides the latest reported value for - Nigeria Gdp From Manufacturing - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

GDP From Public Administration in Nigeria increased to 427802.26 NGN Millions in the fourth quarter of 2019 from 367755.38 NGN Millions in the third quarter of 2019. GDP From Public Administration in Nigeria averaged 440702.21 NGN Millions from 2010 until 2019, reaching an all time high of 614330.87 NGN Millions in the fourth quarter of 2011 and a record low of 307550.32 NGN Millions in the first quarter of 2019. This page provides the latest reported value for - Nigeria Gdp From Public Administration - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

GDP From Transport in Nigeria increased to 275118.66 NGN Millions in the fourth quarter of 2019 from 261809.92 NGN Millions in the third quarter of 2019. GDP From Transport in Nigeria averaged 203016.83 NGN Millions from 2010 until 2019, reaching an all time high of 288637 NGN Millions in the first quarter of 2019 and a record low of 144848.60 NGN Millions in the first quarter of 2010. This page provides the latest reported value for - Nigeria Gdp From Transport - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

GDP From Utilities in Nigeria increased to 120431.63 NGN Million in the fourth quarter of 2019 from 94995.15 NGN Million in the third quarter of 2019. GDP From Utilities in Nigeria averaged 87758.99 NGN Million from 2010 until 2019, reaching an all time high of 127728.46 NGN Million in the fourth quarter of 2018 and a record low of 51342.43 NGN Million in the second quarter of 2010. This page provides the latest reported value for - Nigeria Gdp From Utilities - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The total population in Nigeria was estimated at 200.0 million people in 2019, according to the latest census figures and projections from Trading Economics. Looking back, in the year of 1960, Nigeria had a population of 45.1 million people. The population of Nigeria represents 2.35 percent of the world´s total population which arguably means that one person in every 43 people on the planet is a resident of Nigeria. This page provides the latest reported value for - Nigeria Population - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Exports in Nigeria increased to 1759032.90 NGN Millions in December from 1468292.31 NGN Millions in November of 2019. Exports in Nigeria averaged 455508.94 NGN Millions from 1981 until 2019, reaching an all time high of 2648881.76 NGN Millions in December of 2011 and a record low of 322.93 NGN Millions in February of 1983. Exports of commodities (oil and natural gas) is the main factor behind Nigeria's growth and accounts for more than 91% of total exports. In 2014, 43% of total sales went to Europe; 29% to Asia; 13% to America and 12% to Africa. This page provides - Nigeria Exports - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Nigeria recorded a trade surplus of 362684.95 NGN Millions in December of 2019. Balance of Trade in Nigeria averaged 204446.40 NGN Millions from 1981 until 2019, reaching an all time high of 2177553.08 NGN Millions in October of 2011 and a record low of -975441.14 NGN Millions in October of 2019. Exports of commodities (oil and natural gas) is the main factor behind Nigeria's growth and accounts for more than 91% of total exports. In 2014, Europe and Asia were the country's main trade partners. Europe accounted for 43% of total sales and 34% of total imports while Asia accounted for 29% of total shipments and 43% of total purchases. This page provides - Nigeria Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Imports in Nigeria decreased to 1396347.95 NGN Millions in December from 1434594.11 NGN Millions in November of 2019. Imports in Nigeria averaged 251062.57 NGN Millions from 1981 until 2019, reaching an all time high of 2518686.57 NGN Millions in October of 2019 and a record low of 167.88 NGN Millions in May of 1984. Nigeria imports mainly: industrial supplies (27% of total in 2014), capital goods (23%), food and beverage (17%), fuel and lubricants (14%), transport equipment and parts (12%) and consumer goods (7%). 43% of total imports come from Asia; 34% from Europe; 15% from America and 7% from Africa. This page provides - Nigeria Imports - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Private Sector Credit in Nigeria increased to 26695426.73 NGN Million in February from 26562698.38 NGN Million in January of 2020. Private Sector Credit in Nigeria averaged 9945174.56 NGN Million from 2000 until 2020, reaching an all time high of 26695426.73 NGN Million in February of 2020 and a record low of 440872.30 NGN Million in January of 2000. This page provides - Nigeria Private Sector Credit- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The benchmark interest rate in Nigeria was last recorded at 13.50 percent. Interest Rate in Nigeria averaged 11.17 percent from 2007 until 2020, reaching an all time high of 14 percent in July of 2016 and a record low of 6 percent in July of 2009. In Nigeria, interest rate decisions are taken by The Central Bank of Nigeria. The official interest rate is the Monetary Policy Rate (MPR). This page provides - Nigeria Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Lending Rate in Nigeria increased to 15.04 percent in February from 14.97 percent in January of 2020. Lending Rate in Nigeria averaged 14.14 percent from 1961 until 2020, reaching an all time high of 37.80 percent in September of 1993 and a record low of 6 percent in April of 1975. This page provides - Nigeria Lending Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Deposit Interest Rate in Nigeria increased to 6.17 percent in February from 5.85 percent in January of 2020. Deposit Interest Rate in Nigeria averaged 9.61 percent from 1970 until 2020, reaching an all time high of 27 percent in September of 1993 and a record low of 2 percent in April of 1976. The Deposit Interest Rate is Nigeria refers to Weighted Average 3 Month Deposit Rates in Commercial Banks. This page includes a chart with historical data for Deposit Interest Rate in Nigeria.

The Consumer Price Index in Nigeria increased 0.79 percent in February of 2020 over the previous month. Inflation Rate Mom in Nigeria averaged 1.04 percent from 1995 until 2020, reaching an all time high of 8.93 percent in April of 1995 and a record low of -3.50 percent in August of 1999. Inflation Rate MoM measures month over month change in the price of goods and services. This page provides - Nigeria Inflation Rate MoM- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Nigeria recorded a government debt equivalent to 17.50 percent of the country's Gross Domestic Product in 2018. Government Debt to GDP in Nigeria averaged 32.40 percent from 1990 until 2018, reaching an all time high of 75 percent in 1991 and a record low of 7.30 percent in 2008. Generally, Government debt as a percent of GDP is used by investors to measure a country ability to make future payments on its debt, thus affecting the country borrowing costs and government bond yields. This page provides the latest reported value for - Nigeria Government Debt to GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Nigeria recorded a Current Account deficit of 6953.30 USD Million in the fourth quarter of 2019. Current Account in Nigeria averaged 1832.56 USD Million from 2005 until 2019, reaching an all time high of 10383.67 USD Million in the second quarter of 2008 and a record low of -6953.30 USD Million in the fourth quarter of 2019. Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid). This page provides - Nigeria Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news.

External Debt in Nigeria increased to 27676.14 USD Million in the fourth quarter of 2019 from 26941.50 USD Million in the third quarter of 2019. External Debt in Nigeria averaged 10638.95 USD Million from 2008 until 2019, reaching an all time high of 27676.14 USD Million in the fourth quarter of 2019 and a record low of 3627.50 USD Million in the first quarter of 2009. This page provides - Nigeria External Debt- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Nigeria recorded a capital and financial account surplus of 13235.94 USD Million in the fourth quarter of 2019. Capital Flows in Nigeria averaged 385.95 USD Million from 2008 until 2019, reaching an all time high of 20302.97 USD Million in the third quarter of 2010 and a record low of -15439.95 USD Million in the first quarter of 2010. This page provides - Nigeria Capital Flows- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Government Debt in Nigeria decreased to 84053.32 USD Million in the fourth quarter of 2019 from 85390.82 USD Million in the third quarter of 2019. Government Debt in Nigeria averaged 66964.23 USD Million from 2012 until 2019, reaching an all time high of 85390.82 USD Million in the third quarter of 2019 and a record low of 48361.37 USD Million in the first quarter of 2013. This page provides - Nigeria Government Debt- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Crude Oil Production in Nigeria increased to 1780 BBL/D/1K in March from 1742 BBL/D/1K in February of 2020. Crude Oil Production in Nigeria averaged 1878.50 BBL/D/1K from 1973 until 2020, reaching an all time high of 2475 BBL/D/1K in November of 2005 and a record low of 675 BBL/D/1K in February of 1983. This page provides the latest reported value for - Nigeria Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Industrial Production in Nigeria increased 25.10 percent in the fourth quarter of 2019 over the same quarter in the previous year. Industrial Production in Nigeria averaged 1.42 percent from 2007 until 2019, reaching an all time high of 25.10 percent in the fourth quarter of 2019 and a record low of -20.40 percent in the first quarter of 2016. In Nigeria, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page provides - Nigeria Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Manufacturing Production in Nigeria decreased 1.90 percent in December of 2019 over the same month in the previous year. Manufacturing Production in Nigeria averaged 5.41 percent from 2007 until 2019, reaching an all time high of 24.60 percent in the fourth quarter of 2013 and a record low of -7 percent in the first quarter of 2016. This page provides - Nigeria Manufacturing Production- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Mining production in Nigeria increased 0.10 percent in December of 2019 over the same month in the previous year. Mining Production in Nigeria averaged -0.56 percent from 2011 until 2019, reaching an all time high of 48.20 percent in the third quarter of 2017 and a record low of -34.10 percent in the fourth quarter of 2016. This page provides - Nigeria Mining Production- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Personal Income Tax Rate in Nigeria stands at 24 percent. In Nigeria, the Personal Income Tax Rate is a tax collected from individuals and is imposed on different sources of income like labor, pensions, interest and dividends. The benchmark we use refers to the Top Marginal Tax Rate for individuals. Revenues from the Personal Income Tax Rate are an important source of income for the government of Nigeria. This page provides the latest reported value for - Nigeria Personal Income Tax Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Terms of Trade in Nigeria increased to 103.54 points in December from 100.73 points in November of 2019. Terms of Trade in Nigeria averaged 99.23 points from 2000 until 2019, reaching an all time high of 160.25 points in March of 2010 and a record low of 49.48 points in April of 2006. In Nigeria, Terms of Trade (ToT) correspond to the ratio of Price of exportable goods to the Price of importable goods. This page provides - Nigeria Terms Of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Government Spending in Nigeria decreased to 929917.32 NGN Million in the first quarter of 2019 from 1027351.08 NGN Million in the fourth quarter of 2018. Government Spending in Nigeria averaged 1015514.70 NGN Million from 2010 until 2019, reaching an all time high of 1615675.03 NGN Million in the fourth quarter of 2010 and a record low of 609792.40 NGN Million in the fourth quarter of 2017. Government Spending refers to public expenditure on goods and services and is a major component of the GDP. Government spending policies like setting up budget targets, adjusting taxation, increasing public expenditure and public works are very effective tools in influencing economic growth. This page provides - Nigeria Government Spending- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Cpi Housing Utilities in Nigeria increased to 299.40 points in March from 297.70 points in February of 2020. Cpi Housing Utilities in Nigeria averaged 105.35 points from 1995 until 2020, reaching an all time high of 299.40 points in March of 2020 and a record low of 7.80 points in January of 1995. This page provides - Nigeria Cpi Housing Utilities- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The transportation sub-index of the CPI basket in Nigeria increased to 285.50 points in March of 2020 from 283.40 points in February of 2020. CPI Transportation in Nigeria averaged 152.69 points from 2006 until 2020, reaching an all time high of 285.50 points in March of 2020 and a record low of 68.50 points in February of 2006. This page provides - Nigeria Cpi Transportation- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Core consumer prices in Nigeria increased 9.70 percent in March of 2020 over the same month in the previous year. Core Inflation Rate in Nigeria averaged 10.21 percent from 2007 until 2020, reaching an all time high of 19.28 percent in January of 2007 and a record low of 0.49 percent in March of 2008. This page provides the latest reported value for - Nigeria Core Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Cash Reserve Ratio in Nigeria remained unchanged at 27.50 percent in May from 27.50 percent in April of 2020. Cash Reserve Ratio in Nigeria averaged 13.20 percent from 2007 until 2020, reaching an all time high of 31 percent in May of 2015 and a record low of 1 percent in April of 2009. This page provides - Nigeria Cash Reserve Ratio- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Composite Pmi in Nigeria decreased to 37.10 points in April from 53.80 points in March of 2020. Composite Pmi in Nigeria averaged 53.57 points from 2014 until 2020, reaching an all time high of 59.10 points in May of 2018 and a record low of 37.10 points in April of 2020. The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index measures the performance of the private sector and is derived from a survey of 400 companies from agriculture, manufacturing, services, construction and retail. The Purchasing Managers’ Index is a composite index based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the private sector activity compared to the previous month; below 50 represents a contraction; while 50 indicates no change. This page provides - Nigeria Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Manufacturing Pmi in Nigeria decreased to 51.10 points in March from 58.30 points in February of 2020. Manufacturing Pmi in Nigeria averaged 52.67 points from 2014 until 2020, reaching an all time high of 61.10 points in December of 2018 and a record low of 41.90 points in June of 2016. The Composite Manufacturing PMI measures the performance of the manufacturing sector and is derived from a survey of purchasing and supply executives from 13 locations in Nigeria. The survey shows the change, if any, in the current month compared with the previous month. The PMI is presented as an average of variables with the following weights: production level (25 percent), new orders (30 percent), supplier deliveries (15 percent) and employment level and inventories (20 percent). A reading above 50 indicates an expansion; below 50 represents a contraction; while 50 indicates no change. This page provides - Nigeria Manufacturing Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Services Pmi in Nigeria decreased to 49.20 points in March from 58.60 points in February of 2020. Services Pmi in Nigeria averaged 53.46 points from 2014 until 2020, reaching an all time high of 62.30 points in December of 2018 and a record low of 41 points in September of 2016. The Composite Non-Manufacturing PMI measures the performance of the non manufacturing sector and is derived from a survey of purchasing and supply executives from 13 locations in Nigeria. The survey shows the change, if any, in the current month compared with the previous month and is presented as an average of: production level (25 percent of weight), new orders (30 percent), supplier deliveries (15 percent) and employment level and inventories (20 percent). A reading above 50 indicates an expansion of the private sector activity compared to the previous month; below 50 represents a contraction; while 50 indicates no change. This page provides - Nigeria Services Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The inflation rate in Nigeria was recorded at 12.26 percent in March of 2020. Inflation Rate in Nigeria averaged 12.42 percent from 1996 until 2020, reaching an all time high of 47.56 percent in January of 1996 and a record low of -2.49 percent in January of 2000. In Nigeria, the Consumer Price Index (CPI) measures the change over time in prices of 740 goods and services consumed by people for day-to-day living. The index weights are based on expenditures of both urban and rural households in the 36 states. The most important categories in the CPI are Food and Non Alcoholic Beverages (51.8 percent of total weight); Housing, Water, Electricity, Gas and Other Fuel (16.7 percent) and Clothing and Footwear (7.7 percent). Transports account for 6.5 percent of total index and Furnishings and Household Equipment Maintenance for 5 percent. Education represents 3.9 percent of total weight, Health 3 percent, Miscellaneous Goods and Services 1.7 percent and Restaurants and Hotels 1.2 percent. Alcoholic Beverages, Tobacco and Kola account for 1.1 percent of total index, Communications for 0.7 percent and Recreation and Culture for the remaining 0.7 percent. This page provides - Nigeria Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Nigeria expanded 5.59 percent in the fourth quarter of 2019 over the previous quarter. GDP Growth Rate in Nigeria averaged 1.43 percent from 2010 until 2019, reaching an all time high of 10.59 percent in the third quarter of 2010 and a record low of -13.97 percent in the first quarter of 2016. Nigeria is one of the most developed countries in Africa. Services is the largest sector of the economy, accounting for about 50 percent of total GDP. One of the fastest growing segments in Services are Information and Communication, which together account for about 10 percent of the total output. Agriculture, which in the past was the biggest sector, now weights around 23 percent. Crude Petroleum and Natural Gas constitute only 11 percent of total GDP, while being the main exports. Industry and Construction account for the remaining 16 percent of GDP. This page provides - Nigeria GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Nigeria expanded 2.55 percent in the fourth quarter of 2019 over the same quarter of the previous year. GDP Annual Growth Rate in Nigeria averaged 3.80 percent from 1982 until 2019, reaching an all time high of 19.17 percent in the fourth quarter of 2004 and a record low of -7.81 percent in the fourth quarter of 1983. Nigeria is the biggest economy in Africa. Services is the largest sector of the economy, accounting for about 50 percent of total GDP. One of the fastest growing segments in Services are Information and Communication, which together account for about 10 percent of the total output. Agriculture, which in the past was the biggest sector, now weights around 23 percent. Crude Petroleum and Natural Gas constitute only 11 percent of total GDP, while being the main exports. Industry and Construction account for the remaining 16 percent of GDP. This page provides - Nigeria GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Standard & Poor's credit rating for Nigeria stands at B- with stable outlook. Moody's credit rating for Nigeria was last set at B2 with negative outlook. Fitch's credit rating for Nigeria was last reported at B with negative outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Nigeria thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for Nigeria as reported by major credit rating agencies.

Nigeria recorded 117 Coronavirus Deaths since the epidemic began, according to the World Health Organization (WHO). In addition, Nigeria reported 3912 Coronavirus Cases. This page includes a chart with historical data for Nigeria Coronavirus Deaths.