Nigeria GDP Annual Growth Rate  1982-2017 | Data | Chart | Calendar

The Nigerian economy advanced 1.4 percent year-on-year in the third quarter of 2017, accelerating from an upwardly revised 0.72 percent growth in the previous period. It is the second consecutive quarter of expansion due to a rise in oil production. GDP Annual Growth Rate in Nigeria averaged 3.91 percent from 1982 until 2017, 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 GDP Annual Growth Rate
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Nigeria GDP Grows 1.4% YoY in Q3


The Nigerian economy advanced 1.4 percent year-on-year in the third quarter of 2017, accelerating from an upwardly revised 0.72 percent growth in the previous period. It is the second consecutive quarter of expansion as oil production continued to recover.

The oil sector surged 25.89 percent year-on-year, following an upwardly revised 3.53 percent increase in the previous period. The country produced 2.03 million barrels of crude oil per day, up from 1.61 mbpd a year earlier. As a result, the oil sector accounted for 10.04 percent of GDP compared to 8.09 percent a year earlier. The non-oil sector declined 0.76 percent, compared to a 0.44 percent growth in the previous period. 

Output expanded faster for mining and quarrying (25.44 percent vs 3.51 percent); agriculture (3.06 percent vs 3.01 percent) and recovered for food and accomodation services (0.18 percent vs -4.05 percent) and arts, entertainment and recreation (0.44 percent vs -0.62 percent). In addition, output growth slowed for: electricity, gas, steam and air conditioning supply (11.46 percent vs 35.50 percent) and water supply, sewerage, waste management and remediation (0.33 percent vs 3.45 percent). In contrast,  contraction was observed for: manufacturing (-2.85 percent vs 0.64 percent in Q2); construction (-0.46 percent vs 0.13 percent); internal trade (-1.74 percent vs -1.62 percent); transportation and storage (-6.25 percent vs -6.18 percent); information and telecommunication (-4.48 percent vs -1.15 percent); financial and insurance (-5.96 percent vs 10.45); real estate activities (-4.12 percent vs -3.53 percent); public administration (-0.72 percent vs 1.63 percent); education (-1.22 percent vs -1.34 percent) and social services (-0.85 percent vs -0.96 percent).

On a quarterly basis, the economy expanded 8.97 percent, following an upwardly revised 3.40 percent rise in the previous quarter. 

National Bureau of Statistics | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
11/20/2017 12:08:48 PM



Calendar GMT Actual Previous Consensus TEForecast
2017-05-23 09:00 AM GDP Growth Rate YoY -0.5% -1.7% 0.4%
2017-09-05 08:00 AM GDP Growth Rate YoY 0.55% -0.91% 1.55% 1.3%
2017-11-20 08:00 AM GDP Growth Rate YoY 1.4% 0.72% 2.5%
2018-02-28 08:05 AM GDP Growth Rate YoY
2018-05-23 09:00 AM GDP Growth Rate YoY
2018-09-05 08:00 AM GDP Growth Rate YoY


Nigeria GDP Last Previous Highest Lowest Unit
GDP Growth Rate 8.97 3.40 10.59 -13.98 percent [+]
GDP Annual Growth Rate 1.40 0.72 19.17 -7.81 percent [+]
GDP 405.10 481.10 568.50 4.20 USD Billion [+]
GDP Constant Prices 18029404.12 16477424.00 18745360.19 56260.04 NGN Million [+]
Gross Fixed Capital Formation 2380379.81 2129446.84 2873296.49 17236.65 NGN Million [+]
GDP per capita 2457.80 2562.50 2563.10 1089.10 USD [+]
GDP per capita PPP 5438.90 5670.60 5671.90 2750.10 USD [+]
GDP From Agriculture 5189365.99 3745091.59 5189365.99 2594759.86 NGN Million [+]
GDP From Construction 541311.33 694618.72 740204.22 369190.91 NGN Million [+]
GDP From Manufacturing 1568854.70 1529172.70 1718985.30 875408.17 NGN Million [+]
GDP From Mining 1787915.72 1476395.35 2406675.90 1228692.98 NGN Million [+]
GDP From Public Administration 369042.18 400889.27 614330.87 364765.95 NGN Millions [+]
GDP From Services 6076676.80 6031847.57 7087965.28 4564086.31 NGN Millions [+]
GDP From Transport 197780.18 177693.89 229523.14 144848.60 NGN Millions [+]
GDP From Utilities 102660.20 56502.08 114401.69 51342.43 NGN Million [+]


Nigeria GDP Annual Growth Rate

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 Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on December of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.40 0.72 19.17 -7.81 1982 - 2017 percent Quarterly
Constant 2010 Prices




GDP annual growth rate by Country
Country Last
Turkey 11.10 Sep/17
China 6.80 Sep/17
India 6.30 Sep/17
Indonesia 5.06 Sep/17
South Korea 3.80 Sep/17
Spain 3.10 Sep/17
Canada 3.00 Sep/17
Netherlands 3.00 Sep/17
Australia 2.80 Sep/17
Germany 2.80 Sep/17
Euro Area 2.60 Sep/17
United States 2.30 Sep/17
France 2.20 Sep/17
Japan 2.10 Sep/17
Russia 1.80 Sep/17
Italy 1.70 Sep/17
Mexico 1.50 Sep/17
United Kingdom 1.50 Sep/17
Brazil 1.40 Sep/17
Switzerland 1.20 Sep/17