Nigeria Economic Chart Park

Real GDP Growth Rate

Real GDP Growth Rate (%) at 1990 Base (y/y)

Last recession in 2004Q1, recovery in 2004Q3

Real GDP Growth Rate (%) at 2010 Base (y/y)

Current recession in 2016Q2, recovery?

On average, Nigerias GDP growth rate has averaged about 5 percent; attaining an unusual trough of nearly -10 percent in 2003Q4 and a peak of nearly 20 percent in 2004Q4. However, the Nigerian economy recently slipped into a recession recording a negative GDP growth rate of -0.36 in 2016Q1 and -2.06 in 2016Q2. This is attributable to prolonged low crude oil price and production shortages and the attendant foreign exchange (FOREX) scarcity.



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Appropriation Act (Budget)

Appropriation Act (Budget): Capital expenditure remarkably increased in 2016 relative to preceding year, on the account of the present governments renewed commitment to infrastructure development.

Monetary Policy Rate

Monetary Policy Rate: The fluctuations in MPR reflect CBNs intermittent effort to promote growth, stymie inflation or incentivize capital flows. Particularly, the rise in MPR in 2016Q1 was effort to

Gross Domestic Product Growth Rate And Contribution To GDP

Gross Domestic Product Growth Rate: The growth performance of the Oil and Gas sector has been unsteady throughout years and declined most significantly in 2015Q4, following a positive growth recorded

Public Debt-to-GDP Ratio

Public Debt-to-GDP Ratio: The ratio of Nigerias cumulative government debt to national GDP has maintained an upward trend indicating the countrys declining economic productivity and ability to repay