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.

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For Nigeria, the SUT consists of 46 industries and 217 products, ensuring that the new benchmark for GDP calculations captures the complexity and diversity of the nation’s economy.

But at 19th position globally, Nigeria’s economy will still rank behind Russia, Turkey and Mexico. According to Bloomberg, by 2030, Nigeria will rank among the top 20 largest economies in the world.

Nigeria's annual economic growth rate slowed to 2.3% in the first quarter, data showed on Wednesday, ... Nigeria GDP growth slows ahead of interest rate announcement. By Chijioke Ohuocha.

Nigeria plans to rebase its gross domestic product and inflation data by the end of the month to capture changes in certain sectors of the economy and to reflect current consumption patterns, its ...

Nigeria has one of the lowest tax collection rates in the world at approximately 10.8 percent of gross domestic product (GDP), though tax receipts did rise by 56 percent in 2022 to a record 10 ...

It might now be the 26th biggest economy in the world, but Nigeria is 121st in terms of GDP per capita. In parts of the north, up to 80 percent of people live below the $1.25 per day poverty line.

“Nigeria’s Gross Domestic Product (GDP) grew by 2.98 per cent (year-on-year) in real terms in the first quarter of 2024. This growth rate is higher than the 2.31% recorded in the first quarter ...

Nigeria’s economic growth slowed in the first quarter even oil prices and production increased.. Gross domestic product expanded 1.95 percent in the three months through March from a year ...

Additionally, the reduction in inflation to 24.5% in January, coupled with rising Foreign Direct Investment (FDI) and a growing Gross Domestic Product (GDP), further strengthens Nigeria’s appeal.

Nigeria, Egypt, and South Africa were responsible for 65 per cent of Africa’s Gross Domestic Product slowdown, McKinsey has disclosed. The report, which was titled ‘Reimagining economic growth ...