Nigeria Consolidated Fiscal Balance: % of GDP

2010 - 2023 | Quarterly | % | CEIC Data

Key information about Nigeria Consolidated Fiscal Balance: % of GDP

  • Nigeria Consolidated Fiscal Balance recorded a deficit equal to 4.8 % of its Nominal GDP in Sep 2023, compared with a deficit equal to 4.5 % in the previous quarter
  • Nigeria Consolidated Fiscal Balance to GDP data is updated quarterly, available from Dec 2010 to Sep 2023, with an average ratio of -2.2 %
  • The data reached an all-time high of -0.8 % in Mar 2015 and a record low of -5.1 % in Jun 2022
CEIC calculates quarterly Consolidated Fiscal Balance as % of Nominal GDP from quarterly Consolidated Fiscal Balance and quarterly Nominal GDP. The Central Bank of Nigeria provides Consolidated Fiscal Balance in local currency. The National Bureau of Statistics provides Nominal GDP in local currency, at basic prices.


Further information about Nigeria Consolidated Fiscal Balance: % of GDP

  • In the latest reports, Nigeria National Government Debt reached 105.9 USD bn in Jun 2023
  • Nigeria Nominal GDP reached 111.3 USD bn in Mar 2023

View Nigeria's Consolidated Fiscal Balance: % of GDP from Dec 2010 to Sep 2023 in the chart:

Nigeria Consolidated Fiscal Balance: % of GDP

What was Nigeria's Consolidated Fiscal Balance: % of GDP in Sep 2023?

Nigeria Consolidated Fiscal Balance recorded a deficit equal to 4.8 % of its Nominal GDP in Sep 2023, compared with a deficit equal to 4.5 % in the previous quarter See the table below for more data.

Last Previous Min Max Unit Frequency Range
-4.8 Sep 2023 -4.5 Jun 2023 -5.1 Jun 2022 -0.8 Mar 2015 % quarterly Dec 2010 - Sep 2023

Consolidated Fiscal Balance: % of GDP by Country Comparison

Buy Selected Data

Includes Consolidated Fiscal Balance: % of GDP on 115 economies standardised by CEIC. Instant access to full history data in excel.
country/region Last Frequency Range
Albania (%) -3.7 2022 yearly 1997 - 2022
Algeria (%) -2.6 2022 yearly 1994 - 2022
Argentina (%) -4.4 Dec 2023 quarterly Dec 2004 - Dec 2023
Armenia (%) -1.9 Dec 2023 quarterly Dec 2002 - Dec 2023
Australia (%) -1.1 Dec 2023 quarterly Jun 2003 - Dec 2023
Austria (%) -2.7 Dec 2023 quarterly Dec 2001 - Dec 2023
Azerbaijan (%) 0.4 Jun 2021 monthly Dec 2004 - Jun 2021
Bahrain (%) -7.0 2021 yearly 1998 - 2021
Bangladesh (%) -5.1 2023 yearly 2006 - 2023
Belarus (%) -0.4 Sep 2021 quarterly Sep 2006 - Sep 2021
Belgium (%) -4.5 2023 yearly 1970 - 2023
Bolivia (%) -5.8 2022 yearly 1990 - 2022
Bosnia and Herzegovina (%) 3.9 Sep 2023 quarterly Dec 2008 - Sep 2023
Botswana (%) 2.5 Jun 2023 quarterly Mar 2004 - Jun 2023
Brazil (%) -7.2 Mar 2024 quarterly Dec 1997 - Mar 2024
Brunei (%) 1.3 2022 yearly 2010 - 2022
Bulgaria (%) -2.5 Mar 2024 quarterly Sep 2003 - Mar 2024
Cambodia (%) -0.2 2022 yearly 2007 - 2022
Canada (%) -2.1 Dec 2023 quarterly Jun 1993 - Dec 2023
Chile (%) -2.3 2023 yearly 1990 - 2023
China (%) -4.8 Mar 2024 quarterly Dec 1995 - Mar 2024
Colombia (%) 0.2 Sep 2023 quarterly Dec 2000 - Sep 2023
Croatia (%) -2.6 2021 yearly 2002 - 2021
Cyprus (%) 3.1 Dec 2023 quarterly Dec 1995 - Dec 2023
Czech Republic (%) -3.3 Dec 2023 quarterly Dec 1999 - Dec 2023
Denmark (%) 3.1 Dec 2023 quarterly Dec 1999 - Dec 2023
Ecuador (%) -3.6 Dec 2023 quarterly Dec 2000 - Dec 2023
Estonia (%) -3.4 Dec 2023 quarterly Dec 1999 - Dec 2023
European Union (%) -3.5 2023 yearly 1995 - 2023
Finland (%) -2.5 Dec 2023 quarterly Dec 1999 - Dec 2023
France (%) -5.5 Dec 2023 quarterly Dec 1949 - Dec 2023
Georgia (%) -2.4 Dec 2023 quarterly Dec 2006 - Dec 2023
Germany (%) -2.1 Dec 2023 quarterly Dec 1991 - Dec 2023
Ghana (%) -4.6 Jun 2023 quarterly Dec 2008 - Jun 2023
Greece (%) -1.3 Dec 2018 monthly Apr 1999 - Dec 2018
Hong Kong SAR, China (%) -6.5 Dec 2023 quarterly Sep 1999 - Dec 2023
Hungary (%) -6.7 Dec 2023 quarterly Dec 1999 - Dec 2023
Iceland (%) 0.6 Dec 2023 quarterly Mar 2002 - Dec 2023
India (%) -6.0 Dec 2023 quarterly Mar 2005 - Dec 2023
Indonesia (%) -2.2 Mar 2024 quarterly Dec 2014 - Mar 2024
Iran (%) -4.3 Mar 2021 quarterly Mar 2006 - Mar 2021
Ireland (%) 1.7 Dec 2023 quarterly Dec 2000 - Dec 2023
Israel (%) -4.1 Dec 2023 quarterly Dec 1999 - Dec 2023
Italy (%) -7.2 Dec 2023 quarterly Dec 1999 - Dec 2023
Ivory Coast (%) -5.3 2023 yearly 1960 - 2023
Japan (%) -6.2 2024 yearly 1996 - 2024
Jordan (%) 1.0 2018 yearly 1999 - 2018
Kazakhstan (%) -0.5 Dec 2023 quarterly Dec 2008 - Dec 2023
Kenya (%) -2.1 Mar 2023 quarterly Dec 2009 - Mar 2023
South Korea (%) -1.6 Dec 2023 quarterly Jun 2000 - Dec 2023
Kosovo (%) 0.2 Sep 2023 quarterly Dec 2010 - Sep 2023
Kuwait (%) 11.7 2022 yearly 1988 - 2022
Kyrgyzstan (%) 12.2 Jan 2024 monthly Jan 2007 - Jan 2024
Laos (%) -0.3 2022 yearly 2012 - 2022
Latvia (%) -2.2 Dec 2023 quarterly Dec 1999 - Dec 2023
Lebanon (%) -4.3 2020 yearly 1992 - 2020
Lithuania (%) -0.8 Dec 2023 quarterly Dec 1999 - Dec 2023
Luxembourg (%) -1.3 2023 yearly 1995 - 2023
Macau SAR, China (%) -5.1 Sep 2023 quarterly Dec 2003 - Sep 2023
North Macedonia (%) -4.5 2022 yearly 1993 - 2022
Malawi (%) -0.4 Jun 2023 monthly Apr 2005 - Jun 2023
Malaysia (%) -6.7 2022 yearly 1970 - 2022
Malta (%) -4.9 Dec 2023 quarterly Dec 2000 - Dec 2023
Mauritius (%) -5.4 Sep 2023 quarterly Dec 2010 - Sep 2023
Mexico (%) -3.3 Dec 2023 quarterly Dec 1980 - Dec 2023
Moldova (%) -5.2 2023 yearly 1998 - 2023
Mongolia (%) 1.1 Dec 2023 quarterly Dec 2000 - Dec 2023
Montenegro (%) 0.2 Dec 2023 quarterly Dec 2012 - Dec 2023
Morocco (%) -5.6 2022 yearly 1980 - 2022
Mozambique (%) -2.7 2016 yearly 1996 - 2016
Myanmar (%) -7.6 2021 yearly 1986 - 2021
Nepal (%) -10.0 2018 yearly 2012 - 2018
Netherlands (%) -0.1 Mar 2023 quarterly Dec 1999 - Mar 2023
New Zealand (%) -0.6 Dec 2023 quarterly Dec 1999 - Dec 2023
Nigeria (%) -4.8 Sep 2023 quarterly Dec 2010 - Sep 2023
Norway (%) 16.3 Dec 2023 quarterly Dec 2002 - Dec 2023
Oman (%) 2.3 Sep 2023 quarterly Dec 2005 - Sep 2023
Pakistan (%) -7.9 2022 yearly 2000 - 2022
Palestinian Territory (%) -4.0 2020 yearly 2010 - 2020
Panama (%) -3.0 2023 yearly 2003 - 2023
Paraguay (%) -1.5 Dec 2023 quarterly Dec 2003 - Dec 2023
Peru (%) -2.8 Dec 2023 quarterly Dec 1990 - Dec 2023
Philippines (%) -6.1 Mar 2024 quarterly Dec 1985 - Mar 2024
Poland (%) -5.1 2023 yearly 1995 - 2023
Portugal (%) 1.2 Dec 2023 quarterly Sep 1999 - Dec 2023
Qatar (%) 6.0 Sep 2023 quarterly Mar 2011 - Sep 2023
Romania (%) -5.6 Dec 2023 quarterly Dec 2004 - Dec 2023
Russia (%) -2.3 Dec 2023 quarterly Dec 1993 - Dec 2023
Saudi Arabia (%) 2.5 2022 yearly 1969 - 2022
Serbia (%) -2.2 Dec 2023 quarterly Dec 2005 - Dec 2023
Singapore (%) 1.5 Dec 2023 quarterly Mar 2012 - Dec 2023
Slovakia (%) -6.2 2020 yearly 1995 - 2020
Slovenia (%) -3.7 Mar 2024 quarterly Dec 2000 - Mar 2024
South Africa (%) -6.0 Dec 2023 quarterly Dec 1990 - Dec 2023
Spain (%) -3.6 Dec 2023 quarterly Dec 1995 - Dec 2023
Sri Lanka (%) -8.3 Dec 2023 quarterly Dec 2014 - Dec 2023
Sudan (%) -0.6 2021 yearly 2001 - 2021
Sweden (%) -0.6 2023 yearly 1995 - 2023
Switzerland (%) 0.5 2023 yearly 1990 - 2023

Accurate Macro & Micro Economic Data You Can Trust

Explore the most complete set of 6.6 million time series covering more than 200 economies, 20 industries and 18 macroeconomic sectors.

Learn more about what we do

Nigeria Key Series

Buy Selected Data

Includes 182 key indicators for Nigeria, curated by CEIC analysts. Instant access to full history data in excel.
Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -4.8 Sep 2023 quarterly Dec 2010 - Sep 2023
Consolidated Fiscal Balance (USD mn) -3,071.175 Sep 2023 quarterly Mar 2005 - Sep 2023
National Government Debt (USD mn) 101,710.7 Dec 2023 quarterly Dec 2006 - Dec 2023
Government Debt: % of GDP (%) 39.8 Dec 2023 quarterly Dec 2010 - Dec 2023
Forecast: Government Expenditure (NGN bn) 99,387.936 2029 yearly 1990 - 2029
Forecast: Government Net Debt (NGN bn) 205,772.040 2028 yearly 1990 - 2028
Forecast: Government Revenue (NGN bn) 74,924.965 2029 yearly 1990 - 2029
Federal Govt Balance (NGN bn) -2,347.160 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Expenditure: Capital (NGN bn) 1,043.310 Sep 2023 quarterly Mar 2005 - Sep 2023
Gross Federation Account Revenue (NGN bn) 4,791.390 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Expenditure: Recurrent (NGN bn) 2,791.110 Sep 2023 quarterly Mar 2005 - Sep 2023
Gross Federation Account Revenue: Oil (NGN bn) 814.230 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Revenue (NGN bn) 1,693.020 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Expenditure (NGN bn) 4,040.180 Sep 2023 quarterly Mar 2005 - Sep 2023
Government Debt: Domestic (NGN bn) 53,258.012 Dec 2023 quarterly Dec 2005 - Dec 2023
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) -1.879 2028 yearly 1991 - 2028
Trade Balance (USD mn) 1,889.4 Sep 2023 monthly Jan 2003 - Sep 2023
Total Exports (USD mn) 4,751.7 Dec 2023 monthly Jan 2003 - Dec 2023
Total Exports Growth (%) 82.1 Dec 2023 monthly Jan 2004 - Dec 2023
Aluminum: Exports (USD th) 165,856.846 2022 yearly 1995 - 2022
Exports: Medicament (USD th) 2,876.353 2022 yearly 1995 - 2022
Exports: Medicinal and Pharmaceutical Product (USD th) 480.530 2022 yearly 1995 - 2022
Total Imports (USD mn) 2,989.3 Mar 2023 monthly Jan 2003 - Mar 2023
Total Imports Growth (%) 34.5 Sep 2023 monthly Jan 2004 - Sep 2023
Imports: Medicament (USD th) 755,360.705 2022 yearly 1995 - 2022
Imports: Medicinal and Pharmaceutical Product (USD th) 508,406.689 2022 yearly 1995 - 2022
Total Exports to USA (USD mn) 332.105 Dec 2023 monthly Jan 2003 - Dec 2023
Total Imports from USA (USD mn) 176.789 Dec 2023 monthly Dec 2009 - Dec 2023
Total Exports to China (USD mn) 24.772 Sep 2023 monthly Jan 2007 - Sep 2023
Total Imports from China (USD mn) 715.679 Sep 2023 monthly Jan 2007 - Sep 2023
Imports (NGN mn) 2,429,185.197 Sep 2023 monthly Jan 2003 - Sep 2023
Exports: Crude Oil (NGN mn) 3,404,818.113 Dec 2023 monthly Jan 2003 - Dec 2023
Total Trade (NGN mn) 6,865,948.584 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: America: ow USA (NGN mn) 299,453.208 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: Europe: ow Netherlands (NGN mn) 523,568.988 Dec 2023 monthly Jan 2003 - Dec 2023
Exports (NGN mn) 4,284,566.609 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: Europe: ow UK (NGN mn) 93,037.938 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: Mineral Products (NGN mn) 24,389,951.388 2022 yearly 2003 - 2022
Exports: Vegetable Products (NGN mn) 316,546.604 2022 yearly 2003 - 2022
Imports: Europe: ow Germany (NGN mn) 68,742.651 Sep 2023 monthly Jan 2003 - Sep 2023
Imports: Europe: ow Netherlands (NGN mn) 158,090.619 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Asia: ow China (NGN mn) 631,502.155 Dec 2023 monthly Jan 2007 - Dec 2023
Imports: America: ow USA (NGN mn) 159,407.643 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Europe: ow UK (NGN mn) 71,966.938 Sep 2023 monthly Jan 2003 - Sep 2023
Imports: Chemicals and Chemical Products (NGN mn) 385,751.608 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Manufactured Goods (NGN mn) 184,959.341 Sep 2023 monthly Jan 2003 - Sep 2023
Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) 810,486.908 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Food and Live Animals (NGN mn) 364,417.505 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Machinery and Transport Equipment (NGN mn) 639,703.694 Sep 2023 monthly Jan 2003 - Sep 2023
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 44.0 Sep 2023 quarterly Mar 2008 - Sep 2023
Current Account Balance (USD mn) 1,545.4 Sep 2023 quarterly Mar 2014 - Sep 2023
Current Account Balance: % of GDP (%) 1.9 Sep 2023 quarterly Mar 2014 - Sep 2023
Foreign Direct Investment (USD mn) 1,197.6 Mar 2023 quarterly Mar 2014 - Mar 2023
Foreign Direct Investment: % of GDP (%) 1.1 Sep 2023 quarterly Mar 2010 - Sep 2023
Foreign Portfolio Investment (USD mn) 2,876.923 Sep 2023 quarterly Mar 2008 - Sep 2023
Foreign Portfolio Investment: % of GDP (%) 3.6 Sep 2023 quarterly Mar 2010 - Sep 2023
Foreign Portfolio Investment: Equity Securities (USD mn) 270.9 Sep 2023 quarterly Mar 2008 - Sep 2023
Foreign Portfolio Investment: Debt Securities (USD mn) 2,606.059 Sep 2023 quarterly Mar 2008 - Sep 2023
External Debt (USD mn) 42,495.2 Dec 2023 quarterly Dec 2006 - Dec 2023
External Debt: % of GDP (%) 11.9 2023 yearly 1985 - 2023
External Debt: Short Term (USD mn) 1,005.6 2020 yearly 2008 - 2020
External Debt: Short Term: % of GDP (%) 0.2 2020 yearly 2008 - 2020
Forecast: Current Account Balance (USD bn) 0.890 2028 yearly 1980 - 2028
Net International Investment Position (USD mn) -90,273.874 2022 yearly 2005 - 2022
External Debt: Service Payments (USD mn) 194.440 Dec 2018 quarterly Mar 2008 - Dec 2018
External Debt: Government: International Capital Market (USD mn) 15,118.350 Dec 2023 quarterly Mar 2011 - Dec 2023
External Debt: Government (USD mn) 42,495.160 Dec 2023 quarterly Dec 2006 - Dec 2023
Capital Inflow: Foreign Direct Investment (USD) 20,080,525.860 Nov 2022 monthly Jan 2007 - Nov 2022
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 6.1 2019 yearly 2003 - 2019
Non-Performing Loans (USD mn) 3,315.011 Mar 2021 quarterly Mar 2007 - Mar 2021
Money Supply M1 (USD mn) 24,423.728 Mar 2024 monthly Nov 1992 - Mar 2024
Money Supply M2 (USD mn) 69,409.454 Mar 2024 monthly Nov 1992 - Mar 2024
M2 Growth (%) 70.4 Mar 2024 monthly Nov 1993 - Mar 2024
Reserve Requirement Ratio (%) 45.0 Apr 2024 monthly Nov 2005 - Apr 2024
Foreign Exchange Reserves (USD mn) 33,217.6 Dec 2023 monthly Jan 1960 - Dec 2023
Foreign Exchange Reserves: % of GDP (%) 8.942 Dec 2023 quarterly Dec 2010 - Dec 2023
Foreign Exchange Reserves: Months of Import (NA) 11.6 Dec 2023 monthly Jan 2003 - Dec 2023
Gold Reserves (USD mn) 1,273.284 Sep 2023 monthly Dec 1950 - Sep 2023
Total Deposits (USD mn) 84,213.801 Dec 2019 monthly Nov 1992 - Dec 2019
Total Deposits Growth (%) 2.6 Dec 2019 monthly Nov 1993 - Dec 2019
Domestic Credit (USD mn) 68,258.1 Mar 2024 monthly Nov 1992 - Mar 2024
Domestic Credit Growth (%) 28.7 Mar 2024 monthly Nov 1993 - Mar 2024
Private Debt: % of Nominal GDP (%) 16.22 Sep 2023 quarterly Dec 2010 - Sep 2023
Monetary Survey: Liabilities: Base Money (NGN mn) 23,384,818.660 Mar 2024 monthly Jan 1993 - Mar 2024
Monetary Survey: Liabilities: M2: M1 (NGN mn) 32,489,908.180 Mar 2024 monthly Nov 1992 - Mar 2024
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 59,842,712.030 Mar 2024 monthly Nov 1992 - Mar 2024
Monetary Survey: Liabilities: M2 (NGN mn) 92,332,620.210 Mar 2024 monthly Nov 1992 - Mar 2024
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
Non Performing Loans to Gross Loans (%) 4.210 Dec 2022 semiannually Dec 2003 - Dec 2022
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) -0.6 Nov 2023 monthly Jul 2015 - Nov 2023

More Indicators for Nigeria

Request a demo of CEIC

CEIC’s economic databases cover over 200 global markets. Our Platform offers the most reliable macroeconomic data and advanced analytical tools.

Request a demo
Please note, product demos are not available for students. Please click here to find out more about the version of CEIC available for student users.
Unlimited access tailored to your data needs
Flexible monthly access to CEIC data