Location
GDP per capita: 807 USD (PPP: 6,440 intl$) (2024)
Income and purchasing power
The average monthly income in Nigeria is 104 USD per month. This compares to prices and purchasing power compared to the United States.
Economic performance 2024
| Indicator | Value | Per Capita |
|---|---|---|
| Gross National Product (GNI) | 1,250 USD | |
| GDP (PPP) | 6,440 intl$ |
Largest economic sectors
The main economic sectors in Nigeria play a crucial role in the country's economic development and prosperity. These industries contribute significantly to GDP, employment, and overall economic stability.
Primary Sectors
- Banking and financial services
- Construction and real estate
- Manufacturing (metals, steel)
- Information technology
Supporting Sectors
- Logistics and transportation
- Tourism and hospitality
- Agriculture and food processing
- Energy and utilities
Note: Detailed sector breakdown data is being collected and will be updated soon.
Imports and Exports 2024
| Indicator | Nigeria | Per Capita |
|---|
Household debt and deficits 2024
Data on government debt, budget deficit/surplus, and household debt is being collected.
Note: Household debt data represents domestic credit to private sector (% of GDP) from World Bank. This indicator includes credit to both households and non-financial corporations, providing an approximation of household debt levels.
Corruption in Nigeria
The Corruption Perceptions Index (CPI) measures the perceived levels of public sector corruption. The scale ranges from 0 (highly corrupt) to 100 (very clean).
Unemployment rates in percentages 1991 - 2024
The unemployment rate is calculated as the percentage of unemployed persons in the total labor force. Data source: ILOSTAT
| Year | Unemployment Rate (%) |
|---|---|
| 2024 | 3.0% |
| 2023 | 3.1% |
| 2022 | 3.8% |
| 2021 | 5.5% |
| 2020 | 5.7% |
| 2019 | 5.2% |
| 2018 | 5.1% |
| 2017 | 4.8% |
| 2016 | 4.5% |
| 2015 | 4.1% |
| 2014 | 3.9% |
| 2013 | 3.7% |
| 2012 | 3.8% |
| 2011 | 3.8% |
| 2010 | 3.7% |
| 2009 | 3.8% |
| 2008 | 3.8% |
| 2007 | 3.8% |
| 2006 | 3.8% |
| 2005 | 3.7% |
| 2004 | 3.6% |
| 2003 | 3.6% |
| 2002 | 3.7% |
| 2001 | 3.9% |
| 2000 | 4.0% |
| 1999 | 4.0% |
| 1998 | 3.9% |
| 1997 | 4.0% |
| 1996 | 4.1% |
| 1995 | 4.2% |
| 1994 | 4.1% |
| 1993 | 4.0% |
| 1992 | 3.8% |
| 1991 | 3.9% |
Inflation rates in percentages 2006 - 2024
| Year | Inflation Rate (%) |
|---|---|
| 2024 | 33.2% |
| 2023 | 24.7% |
| 2022 | 18.8% |
| 2021 | 17.0% |
| 2020 | 13.2% |
| 2019 | 11.4% |
| 2018 | 12.1% |
| 2017 | 16.5% |
| 2016 | 15.7% |
| 2015 | 9.0% |
| 2014 | 8.0% |
| 2013 | 8.5% |
| 2012 | 12.2% |
| 2011 | 10.8% |
| 2010 | 13.7% |
| 2009 | 12.5% |
| 2008 | 11.6% |
| 2007 | 5.4% |
| 2006 | 8.2% |
Frequently Asked Questions
What is the GDP per capita of Nigeria in 2024?
The GDP per capita of Nigeria is 807 USD in 2024. When adjusted for purchasing power parity (PPP), the GDP per capita is 6,440 international dollars. This indicator measures the economic output per person and is a key metric for comparing economic prosperity across countries.
What are the main industries in Nigeria?
The main economic sectors in Nigeria include banking and financial services, construction and real estate, manufacturing (metals, steel), and information technology. Supporting sectors include logistics and transportation, tourism and hospitality, agriculture and food processing, and energy and utilities. These industries contribute significantly to GDP, employment, and overall economic stability.
What is the inflation rate in Nigeria in 2024?
The inflation rate in Nigeria is 33.2% in 2024. Inflation measures the rate at which the general level of prices for goods and services rises, eroding purchasing power. This data is updated regularly from reliable sources like the World Bank and IMF.
Explore key economic indicators of Nigeria including GDP, inflation, unemployment, and trade data. This page provides up-to-date statistics and visual insights based on official international sources such as World Bank, IMF, and ILO.
Our comprehensive database allows you to compare Nigeria's economic performance with other countries and understand global economic trends. Access current economic indicators, historical data, and comparative analysis to gain a deeper understanding of Nigeria's economic landscape. For demographic data, visit our population statistics section.
Data Sources
All economic data presented on this page is sourced from reputable international organizations and updated regularly.
- World Bank: GDP, inflation, unemployment, trade, and economic indicators
- IMF (International Monetary Fund): Economic indicators and financial statistics
- OECD: Economic and social statistics
- Transparency International: Corruption perception index
- Numbeo: Cost of living data
Data is updated monthly. Last update: December 2025