The Gross Domestic Product (GDP) in Nigeria contracted 0.80 percent in the second quarter of 2021 over the previous quarter. source: National Bureau Of Statistics, Nigeria

GDP Growth Rate in Nigeria averaged 0.74 percent from 2010 until 2021, reaching an all time high of 12.12 percent in the third quarter of 2020 and a record low of -14.27 percent in the first quarter of 2020. This page provides - Nigeria GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.

GDP Growth Rate in Nigeria is expected to be 5.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Nigeria GDP Growth Rate is projected to trend around 4.00 percent in 2022 and 6.00 percent in 2023, according to our econometric models.

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Nigeria GDP Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-08-26 07:30 AM Q2 -0.8% -13.9% -2.5%
2021-11-18 10:00 AM Q3 11.1% -0.8% 9%
2022-03-01 10:00 AM Q4 11.1%


Related Last Previous Unit Reference
GDP Growth Rate 11.10 -0.80 percent Sep/21
GDP Annual Growth Rate 4.00 5.00 percent Sep/21
GDP Constant Prices 18543054.58 16694666.15 NGN Million Sep/21
Gross Fixed Capital Formation 2509820.58 3026268.69 NGN Million Jun/21
GDP From Utilities 107693.36 183591.69 NGN Million Sep/21
GDP From Transport 180043.45 209788.41 NGN Millions Sep/21
GDP From Services 6545197.45 6694697.46 NGN Millions Sep/21
GDP From Public Administration 380337.42 368209.62 NGN Millions Sep/21
GDP From Mining 1388798.49 1239461.07 NGN Million Sep/21
GDP From Manufacturing 1660563.82 1451511.22 NGN Million Sep/21
GDP From Construction 596445.97 532693.68 NGN Million Sep/21
GDP From Agriculture 5550940.85 3969697.16 NGN Million Sep/21
Nigeria GDP 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.