With Nigeria’s public debt currently hitting N142.3 trn as of September 30, 2024, a higher GDP figure could make the debt burden appear more manageable in relative terms.

Nigeria’s GDP is $362.8 billion, falling from a high of $509.97 billion in 2014. As of December 2024, Nigeria’s inflation stood at 34.88 per cent, a 30-year high.

Analysis - Recently, Dr Akinwunmi Adesina, the outgoing president of the African Development Bank, AfDB, stirred the hornet's nest when he said Nigeria's GDP per capita was $1,847 in 1960 but $824 ...

GDP in Nigeria for Q2 2024 grew by 3.19% (year-on-year) in real terms. During the first quarter in 2024 Nigeria’s Gross Domestic Product (GDP) grew by 2.98% (year-on-year) in real terms.

Africa's largest economy has now grown for 10 consecutive quarters after a severe recession in 2020 linked to the COVID-19 pandemic. GDP posted annual growth of 3.1% in the first three months of 2022.

Nigeria's total public debt could rise to 37.1% of its gross domestic product (GDP) this year, close to the government's self-imposed 40% limit, the country's Debt Management Office said on Thursday.

Nigeria's GDP only needs to go up by a quarter from a current IMF 2013 estimate of $292 billion to hit $365 billion, which would enable it to overtake South Africa, currently estimated by the fund ...

Nigeria's inflation rate rose to 34.80% in December from 34.60% in November, the statistics office said last week, noting that food and non-alcoholic beverages contributed the most to price pressures.

Nigeria’s economy is highly dependent on crude oil exports, which account for over 80% of its foreign exchange earnings. This makes the GDP vulnerable to oil price fluctuations.

Nigeria needs to increase its spending from its current very low levels, to promote economic development. The key to raising public spending lies in urgently raising more revenue. At 7% of GDP in 2021 ...

Nigeria's upcoming GDP rebase in 2025 promises fiscal clarity and increased investor appeal. Experts anticipate a significant rise, boosting economic planning and foreign investment.

He added that Nigeria’s economic growth began accelerating in the 1970s, largely due to rising oil revenues, with the GDP reaching $164 billion by 1981. “Up until 1980, per capita income did ...