Economy

What the economy is made of

58.2% services, 2025

Shares of GDP by sector. In 2025, services made up 58.2%, industry 16.4% and agriculture 23.0%. In 1981, they were 47.5%, 39.2% and 12.2%.

Taxes less subsidies on products: The difference between GDP and the three sectors’ value added, worked out from the published shares.

Source: World Bank, World Development Indicators. CC-BY-4.0.

GDP (current LCU)

₦441.5T 2025

In 2025, the figure for Nigeria was ₦441.5T. Up 18.4% from ₦372.8T in 2024.

Source: World Bank, World Development Indicators. Version 3. CC-BY-4.0.

GDP (current US$)

$290.8B 2025

In 2025, the figure for Nigeria was $290.8B. Up 15.3% from $252.3B in 2024.

Source: World Bank, World Development Indicators. Version 3. CC-BY-4.0.

GDP growth (annual %)

4.0% 2025

In 2025, the figure for Nigeria was 4.0%. Down 0.1 points from 4.1% in 2024.

Source: World Bank, World Development Indicators. Version 3. CC-BY-4.0.

GDP per capita (current US$)

$1,224 2025

In 2025, the figure for Nigeria was $1,224. Up 12.9% from $1,084 in 2024.

Source: World Bank, World Development Indicators. Version 3. CC-BY-4.0.

Inflation, consumer prices (annual %)

23.0% 2025

In 2025, the figure for Nigeria was 23.0%. Down 10.2 points from 33.2% in 2024.

Source: World Bank, World Development Indicators. Version 3. CC-BY-4.0.

Official exchange rate (LCU per US$, period average)

₦1,518.38 2025

In 2025, the figure for Nigeria was ₦1,518.38. Up 2.7% from ₦1,478.97 in 2024.

Source: World Bank, World Development Indicators. Version 3. CC-BY-4.0.

Poverty headcount ratio at $3.00 a day (2021 PPP) (% of population)

41.8% 2022

In 2022, the figure for Nigeria was 41.8%. Up 7.6 points from 34.2% in 2018.

Source: World Bank, World Development Indicators. Version 3. CC-BY-4.0.

Unemployment, total (% of total labor force) (modeled ILO estimate)

3.1% 2025

In 2025, the figure for Nigeria was 3.1%. Unchanged from 2024.

Source: World Bank, World Development Indicators. Version 3. CC-BY-4.0.

Personal remittances, received (current US$)

$22.8B 2025

In 2025, the figure for Nigeria was $22.8B. Up 3.0% from $22.1B in 2024.

Source: World Bank, World Development Indicators. Version 3. CC-BY-4.0.

Total reserves (includes gold, current US$)

$46.0B 2025

In 2025, the figure for Nigeria was $46.0B. Up 13.9% from $40.4B in 2024.

Source: World Bank, World Development Indicators. Version 3. CC-BY-4.0.