Nigeria

1980

2026

2030

1980

2026

2030

Nigeria Economic Statistics (2026)

GDP per capita (PPP) in 2026: $9,861—below global average.

The economy has grown at an average rate of 3.5% over the past 5 years.

Inflation is high at 22.0%, eroding purchasing power.

GDP per capita (PPP)

$9,861

GDP growth

+4.2%

Inflation rate

22.0%

Key terms

GDP: — Gross Domestic Product—the total value of goods and services produced in a country annually.
GDP PPP: — GDP adjusted for purchasing power parity—what money actually buys in each country.
GDP per capita: — GDP divided by population—a measure of average economic output per person.
Inflation rate: — Annual percentage increase in the general price level of goods and services.
Fiscal balance: — Government revenue minus expenditure. Surplus if positive, deficit if negative.
Current account: — Net flow of goods, services, and transfers with the rest of the world.

Total economic output and annual growth rate

Total GDP is $334 billion, with steady growth of 4.2% in 2026.

Average economic output per person

GDP per capita is $1,378 in nominal terms, but $9,861 when adjusted for local purchasing power—indicating lower prices than in the US.

Consumer price inflation and labor market conditions

Inflation is 22.0% in 2026.

Government debt, revenue, and expenditure as percentage of GDP

Government debt is moderate at 35% of GDP. The government spends more than it collects (revenue: 9.1%, expenditure: 12.8% of GDP).

Fiscal balance and current account as percentage of GDP

The country is running a fiscal deficit of 3.7% and a current account surplus of 3.6% of GDP.

Nigeria is a lower-income economy with GDP per capita (PPP) of $9,861. High inflation (22.0%) is a challenge.