Nigeria Gross Savings Rate

1981 - 2024 | Yearly | % | CEIC Data

Key information about Nigeria Gross Savings Rate

  • Nigeria Gross Savings Rate was measured at 48.5% in Dec 2024, compared with 48.5% in the previous year.
  • Nigeria Gross Savings Rate is updated yearly, with data available from Dec 1981 to Dec 2024, and an average rate of 48.5%.
  • The data reached an all-time high of 48.5% in Dec 1981 and a record low of 13.1% in Dec 2016.
  • CEIC calculates Gross Domestic Savings Rate from annual Gross Domestic Savings and annual Nominal GDP. Gross Domestic Savings is calculated from Nominal GDP less Final Consumption Expenditure. Final Consumption Expenditure is the sum of Private and Government Consumption Expenditure. The National Bureau of Statistics provides Final Consumption Expenditure in local currency and Nominal GDP in local currency.
  • In the latest reports, Nigeria GDP expanded 4.2% YoY in Jun 2025.
  • Nigeria Nominal GDP reached 63,773.0 USD mn in Jun 2025. Its GDP deflator (implicit price deflator) fell 55.7% in Mar 2025.
  • Nigeria GDP Per Capita reached 2,955.3 USD in Dec 2022.

View Nigeria's Gross Savings Rate from 1981 to 2024 in the chart:

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Nigeria Gross Savings Rate
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Nigeria Gross Savings Rate

What was Nigeria's Gross Savings Rate in 2024?

Nigeria Gross Savings Rate was measured at 48.5% in Dec 2024, compared with 48.5% in the previous year. See the table below for more data.

Last Previous Min Max Unit Frequency Range
48.5 2024 49.5 2023 13.1 2016 88.4 1981 % yearly 1981 - 2024

Gross Savings Rate by Country Comparison

country/region Last Frequency Range
Albania (%) 17.3 Jun 2025 quarterly Mar 1995 - Jun 2025
Algeria (%) 36.1 2021 yearly 2000 - 2021
Argentina (%) 12.3 Jun 2025 quarterly Mar 2004 - Jun 2025
Armenia (%) 24.6 Dec 2025 quarterly Dec 1994 - Dec 2025
Australia (%) 24.8 Jun 2025 quarterly Sep 1959 - Jun 2025
Austria (%) 26.5 Dec 2025 quarterly Mar 1995 - Dec 2025
Azerbaijan (%) 25.3 Dec 2025 quarterly Mar 2001 - Dec 2025
Bahrain (%) 35.8 2024 yearly 1989 - 2024
Bangladesh (%) 30.4 2021 yearly 2006 - 2021
Belarus (%) 26.2 Dec 2025 quarterly Mar 1992 - Dec 2025
Belgium (%) 24.2 Dec 2025 quarterly Mar 1980 - Dec 2025
Bolivia (%) -1.2 Dec 2024 quarterly Mar 1990 - Dec 2024
Bosnia and Herzegovina (%) 15.5 Dec 2025 quarterly Mar 2000 - Dec 2025
Botswana (%) 22.3 Dec 2025 quarterly Mar 1994 - Dec 2025
Brazil (%) 11.4 Dec 2025 quarterly Mar 1991 - Dec 2025
Brunei (%) 53.5 Jun 2025 quarterly Mar 2004 - Jun 2025
Bulgaria (%) 18.2 Dec 2025 quarterly Mar 1995 - Dec 2025
Cambodia (%) 33.2 2022 yearly 1993 - 2022
Canada (%) 25.0 Sep 2025 quarterly Mar 1961 - Sep 2025
Chile (%) 22.1 Sep 2025 quarterly Mar 1996 - Sep 2025
China (%) 43.4 2024 yearly 1952 - 2024
Colombia (%) 12.9 Sep 2025 quarterly Mar 2005 - Sep 2025
Croatia (%) 31.4 Sep 2025 quarterly Mar 1995 - Sep 2025
Cyprus (%) 20.0 Dec 2025 quarterly Mar 1995 - Dec 2025
Czech Republic (%) 30.7 Dec 2025 quarterly Mar 1995 - Dec 2025
Denmark (%) 33.5 Dec 2025 quarterly Mar 1990 - Dec 2025
Ecuador (%) 22.4 Dec 2025 quarterly Mar 1991 - Dec 2025
Egypt (%) 2.4 2024 yearly 1969 - 2024
Estonia (%) 26.3 Sep 2025 quarterly Mar 1993 - Sep 2025
European Union (%) 25.5 Dec 2025 quarterly Mar 1995 - Dec 2025
Finland (%) 23.9 Dec 2025 quarterly Mar 1990 - Dec 2025
France (%) 14.2 Dec 2017 quarterly Mar 1949 - Dec 2017
Georgia (%) 16.1 Dec 2025 quarterly Mar 1996 - Dec 2025
Germany (%) 24.5 Sep 2025 quarterly Mar 1991 - Sep 2025
Ghana (%) 12.2 2024 yearly 2006 - 2024
Greece (%) 11.4 Dec 2025 quarterly Mar 1995 - Dec 2025
Hong Kong SAR, China (%) 29.2 Dec 2025 quarterly Mar 1999 - Dec 2025
Hungary (%) 28.2 Dec 2025 quarterly Mar 1995 - Dec 2025
Iceland (%) 21.0 Dec 2025 quarterly Mar 1995 - Dec 2025
India (%) 30.7 2024 yearly 1951 - 2024
Indonesia (%) 37.5 Mar 2026 quarterly Mar 2010 - Mar 2026
Iran (%) 35.1 Jun 2025 quarterly Jun 1988 - Jun 2025
Ireland (%) 59.5 Dec 2025 quarterly Mar 1995 - Dec 2025
Israel (%) 28.3 Dec 2025 quarterly Mar 1995 - Dec 2025
Italy (%) 24.9 Dec 2025 quarterly Mar 1995 - Dec 2025
Ivory Coast (%) 23.7 2024 yearly 1960 - 2024
Japan (%) 30.1 Mar 2024 quarterly Mar 1980 - Mar 2024
Jordan (%) 11.1 2023 yearly 1963 - 2023
Kazakhstan (%) 33.3 Jun 2025 quarterly Mar 1994 - Jun 2025
Kenya (%) 12.5 2025 yearly 2006 - 2025
South Korea (%) 35.2 Jun 2025 quarterly Mar 1970 - Jun 2025
Kosovo (%) 1.5 Dec 2025 quarterly Mar 2010 - Dec 2025
Kuwait (%) 36.6 2024 yearly 1970 - 2024
Kyrgyzstan (%) -18.1 Jun 2025 quarterly Mar 2000 - Jun 2025
Laos (%) 18.4 2016 yearly 2000 - 2016
Latvia (%) 21.1 Dec 2025 quarterly Mar 1995 - Dec 2025
Lebanon (%) -20.3 2024 yearly 1990 - 2024
Lithuania (%) 22.4 Dec 2025 quarterly Mar 1995 - Dec 2025
Luxembourg (%) 47.3 Jun 2025 quarterly Mar 1995 - Jun 2025
Macau SAR, China (%) 58.5 Sep 2025 quarterly Mar 2001 - Sep 2025
North Macedonia (%) 22.1 Dec 2025 quarterly Mar 2000 - Dec 2025
Malawi (%) -1.1 2023 yearly 1977 - 2023
Malaysia (%) 21.6 Sep 2025 quarterly Mar 2010 - Sep 2025
Malta (%) 39.0 Sep 2025 quarterly Mar 1992 - Sep 2025
Mauritius (%) 18.3 Sep 2025 quarterly Mar 1999 - Sep 2025
Mexico (%) 17.2 Dec 2025 quarterly Mar 1993 - Dec 2025
Moldova (%) 0.4 Sep 2025 quarterly Mar 1995 - Sep 2025
Mongolia (%) 32.9 Sep 2025 quarterly Mar 2005 - Sep 2025
Montenegro (%) -9.4 Dec 2025 quarterly Mar 2006 - Dec 2025
Morocco (%) 29.3 2024 yearly 1975 - 2024
Mozambique (%) 7.7 2024 yearly 1969 - 2024
Myanmar (%) 28.7 2018 yearly 1996 - 2018
Nepal (%) 35.7 2025 yearly 2001 - 2025
Netherlands (%) 29.1 Dec 2025 quarterly Mar 1995 - Dec 2025
New Zealand (%) 20.7 Jun 2025 quarterly Jun 1987 - Jun 2025
Nigeria (%) 48.5 2024 yearly 1981 - 2024
Norway (%) 32.9 Dec 2025 quarterly Mar 1978 - Dec 2025
Oman (%) 29.4 2024 yearly 1980 - 2024
Pakistan (%) 7.1 2025 yearly 2000 - 2025
Palestinian Territory (%) 6.7 Sep 2025 quarterly Mar 2011 - Sep 2025
Panama (%) 40.4 2023 yearly 1960 - 2023
Paraguay (%) 21.5 Dec 2025 quarterly Mar 1994 - Dec 2025
Peru (%) 32.3 Dec 2025 quarterly Mar 1990 - Dec 2025
Philippines (%) 5.4 Sep 2025 quarterly Mar 1981 - Sep 2025
Poland (%) 26.5 Dec 2025 quarterly Mar 1995 - Dec 2025
Portugal (%) 19.9 Dec 2025 quarterly Mar 1999 - Dec 2025
Qatar (%) 66.3 Dec 2022 quarterly Mar 2013 - Dec 2022
Romania (%) 19.6 Dec 2025 quarterly Mar 1995 - Dec 2025
Russia (%) 35.8 Dec 2025 quarterly Mar 1993 - Dec 2025
Saudi Arabia (%) 33.3 Dec 2025 quarterly Mar 2003 - Dec 2025
Serbia (%) 19.0 Dec 2025 quarterly Mar 1995 - Dec 2025
Singapore (%) 47.2 2025 yearly 1960 - 2025
Slovakia (%) 16.5 Dec 2025 quarterly Mar 1995 - Dec 2025
Slovenia (%) 23.8 Dec 2025 quarterly Mar 1995 - Dec 2025
South Africa (%) 13.3 Dec 2025 quarterly Mar 1960 - Dec 2025
Spain (%) 24.8 Dec 2025 quarterly Mar 1999 - Dec 2025
Sri Lanka (%) 27.2 Jun 2025 quarterly Mar 2010 - Jun 2025
Sudan (%) 13.7 2014 yearly 1960 - 2014
Sweden (%) 27.8 Dec 2025 quarterly Mar 1980 - Dec 2025
Switzerland (%) 33.6 Dec 2025 quarterly Mar 1990 - Dec 2025

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Nigeria Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -4.0 Dec 2024 quarterly Dec 2010 - Dec 2024
Consolidated Fiscal Balance (USD mn) -1,902.660 Dec 2024 quarterly Mar 2005 - Dec 2024
National Government Debt (USD mn) 56,131,610.0 Dec 2025 quarterly Dec 2006 - Dec 2025
Government Debt: % of GDP (%) 18,684.4 Dec 2025 quarterly Dec 2010 - Dec 2025
Forecast: Government Expenditure (NGN bn) 129,829.781 2031 yearly 1990 - 2031
Forecast: Government Net Debt (NGN bn) 318,517.716 2031 yearly 1990 - 2031
Forecast: Government Revenue (NGN bn) 110,023.853 2031 yearly 1990 - 2031
Government Debt: Domestic (NGN bn) 80,488,865.115 Dec 2025 quarterly Dec 2005 - Dec 2025
Federal Govt Balance (NGN bn) -3,084.970 Dec 2024 quarterly Mar 2005 - Dec 2024
Gross Federation Account Revenue (NGN bn) 11,925.570 Sep 2025 quarterly Mar 2005 - Sep 2025
Gross Federation Account Revenue: Oil (NGN bn) 3,518.110 Sep 2025 quarterly Mar 2005 - Sep 2025
Federal Govt Expenditure (NGN bn) 5,604.790 Dec 2024 quarterly Mar 2005 - Dec 2024
Federal Govt Expenditure: Capital (NGN bn) 958.160 Dec 2024 quarterly Mar 2005 - Dec 2024
Federal Govt Revenue (NGN bn) 2,519.820 Dec 2024 quarterly Mar 2005 - Dec 2024
Federal Govt Expenditure: Recurrent (NGN bn) 4,210.940 Dec 2024 quarterly Mar 2005 - Dec 2024
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) -1.879 2028 yearly 1991 - 2028
Trade Balance (USD mn) 245.1 Dec 2025 monthly Jan 2003 - Dec 2025
Total Exports (USD mn) 4,367.5 Dec 2025 monthly Jan 2003 - Dec 2025
Total Exports Growth (%) -9.2 Dec 2025 monthly Jan 2004 - Dec 2025
Aluminum: Exports (USD th) 242,851.843 2024 yearly 1995 - 2024
Exports: Medicament (USD th) 2,102.688 2024 yearly 1995 - 2024
Exports: Medicinal and Pharmaceutical Product (USD th) 578.589 2024 yearly 1995 - 2024
Total Imports (USD mn) 2,644.8 Jun 2025 monthly Jan 2003 - Jun 2025
Total Imports Growth (%) 9.9 Dec 2025 monthly Jan 2004 - Dec 2025
Imports: Medicament (USD th) 605,905.663 2024 yearly 1995 - 2024
Imports: Medicinal and Pharmaceutical Product (USD th) 335,165.261 2024 yearly 1995 - 2024
Total Exports to USA (USD mn) 162.467 Dec 2025 monthly Jan 2003 - Dec 2025
Total Imports from USA (USD mn) 309.728 Dec 2025 monthly Dec 2009 - Dec 2025
Total Exports to China (USD mn) 157.315 Dec 2025 monthly Jan 2007 - Dec 2025
Total Imports from China (USD mn) 1,415.075 Dec 2025 monthly Jan 2007 - Dec 2025
Exports: Mineral Products (NGN mn) 73,459,088.314 2025 yearly 2003 - 2025
Exports: Plastic and Articles Thereof, Rubber and Articles Thereof (NGN mn) 244,171.194 2025 yearly 2003 - 2025
Exports: Vegetable Products (NGN mn) 1,539,822.759 2025 yearly 2003 - 2025
Exports (NGN mn) 6,334,358.836 Dec 2025 monthly Jan 2003 - Dec 2025
Exports: Europe: ow Netherlands (NGN mn) 663,947.498 Dec 2025 monthly Jan 2003 - Dec 2025
Exports: Europe: ow UK (NGN mn) 47,516.769 Dec 2025 monthly Jan 2003 - Dec 2025
Exports: America: ow USA (NGN mn) 235,634.548 Dec 2025 monthly Jan 2003 - Dec 2025
Imports: Food and Live Animals (NGN mn) 850,483.714 Dec 2025 monthly Jan 2003 - Dec 2025
Imports: Chemicals and Chemical Products (NGN mn) 999,721.947 Dec 2025 monthly Jan 2003 - Dec 2025
Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) 1,191,103.588 Dec 2025 monthly Jan 2003 - Dec 2025
Imports: Manufactured Goods (NGN mn) 621,984.130 Dec 2025 monthly Jan 2003 - Dec 2025
Imports: Machinery and Transport Equipment (NGN mn) 1,929,321.105 Dec 2025 monthly Jan 2003 - Dec 2025
Imports: Europe: ow Germany (NGN mn) 145,581.678 Dec 2025 monthly Jan 2003 - Dec 2025
Imports: Europe: ow UK (NGN mn) 302,058.111 Dec 2025 monthly Jan 2003 - Dec 2025
Imports: America: ow USA (NGN mn) 449,215.349 Dec 2025 monthly Jan 2003 - Dec 2025
Imports: Asia: ow China (NGN mn) 2,052,359.077 Dec 2025 monthly Jan 2007 - Dec 2025
Imports: Europe: ow Netherlands (NGN mn) 446,202.327 Dec 2025 monthly Jan 2003 - Dec 2025
Imports (NGN mn) 5,978,855.607 Dec 2025 monthly Jan 2003 - Dec 2025
Exports: Crude Oil (NGN mn) 3,256,138.155 Dec 2025 monthly Jan 2003 - Dec 2025
Total Trade (NGN mn) 12,313,214.443 Dec 2025 monthly Jan 2003 - Dec 2025
Imports: Growth Rate: MoM (%) 14.404 Dec 2025 monthly Jan 2019 - Dec 2025
Exports: Growth Rate: MoM (%) 3.151 Dec 2025 monthly Jan 2019 - Dec 2025
Export Value Index (2015=100) 110.100 2023 yearly 1980 - 2023
Import Value Index (2015=100) 110.300 2023 yearly 1980 - 2023
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) -164.4 Sep 2025 quarterly Mar 2008 - Sep 2025
Current Account Balance (USD mn) 3,416.4 Sep 2025 quarterly Mar 2014 - Sep 2025
Current Account Balance: % of GDP (%) 4.4 Sep 2025 quarterly Mar 2014 - Sep 2025
Foreign Direct Investment (USD mn) 718.4 Sep 2025 quarterly Mar 2014 - Sep 2025
Foreign Direct Investment: % of GDP (%) 1.0 Sep 2025 quarterly Mar 2010 - Sep 2025
Foreign Portfolio Investment (USD mn) 2,512.415 Sep 2025 quarterly Mar 2008 - Sep 2025
Foreign Portfolio Investment: % of GDP (%) 3.4 Sep 2025 quarterly Mar 2010 - Sep 2025
Foreign Portfolio Investment: Equity Securities (USD mn) 402.5 Sep 2025 quarterly Mar 2008 - Sep 2025
Foreign Portfolio Investment: Debt Securities (USD mn) 2,109.957 Sep 2025 quarterly Mar 2008 - Sep 2025
External Debt (USD mn) 51,856.0 Dec 2025 quarterly Dec 2006 - Dec 2025
External Debt: % of GDP (%) 12.0 2025 yearly 1985 - 2025
External Debt: Short Term (USD mn) 1,513.7 2022 yearly 2008 - 2022
External Debt: Short Term: % of GDP (%) 0.2 2022 yearly 2008 - 2022
Forecast: Current Account Balance (USD bn) 16.466 2031 yearly 1980 - 2031
Net International Investment Position (USD mn) -68,546.495 2024 yearly 2005 - 2024
External Debt: Government: International Capital Market (USD mn) 18,547.470 Dec 2025 quarterly Mar 2011 - Dec 2025
External Debt: Government (USD mn) 51,856.030 Dec 2025 quarterly Dec 2006 - Dec 2025
External Debt: Service Payments (USD mn) 194.440 Dec 2018 quarterly Mar 2008 - Dec 2018
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) 31,944.224 Feb 2026 monthly Apr 1990 - Feb 2026
Money Supply M2 (USD mn) 90,327.599 Feb 2026 monthly Apr 1990 - Feb 2026
M2 Growth (%) 11.2 Feb 2026 monthly Apr 1991 - Feb 2026
Reserve Requirement Ratio (%) 45.0 Apr 2026 monthly Nov 2005 - Apr 2026
Foreign Exchange Reserves (USD mn) 42,772.1 Sep 2025 monthly Jan 1960 - Sep 2025
Foreign Exchange Reserves: % of GDP (%) 16.154 Sep 2025 quarterly Dec 2010 - Sep 2025
Foreign Exchange Reserves: Months of Import (NA) 12.7 Sep 2025 monthly Jan 2003 - Sep 2025
Gold Reserves (USD mn) 2,660.953 Sep 2025 monthly Dec 1950 - Sep 2025
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) 98,297.6 Feb 2026 monthly Apr 1990 - Feb 2026
Domestic Credit Growth (%) 29.6 Feb 2026 monthly Apr 1991 - Feb 2026
Private Debt: % of Nominal GDP (%) 15.41 Jun 2024 quarterly Dec 2010 - Jun 2024
Monetary Survey: Liabilities: M2: M1 (NGN mn) 43,536,636.110 Feb 2026 monthly Apr 1990 - Feb 2026
Monetary Survey: Liabilities: Base Money (NGN mn) 38,453,901.510 Feb 2026 monthly Apr 1990 - Feb 2026
Monetary Survey: Liabilities: M2 (NGN mn) 123,107,068.550 Feb 2026 monthly Apr 1990 - Feb 2026
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 79,570,432.440 Feb 2026 monthly Apr 1990 - Feb 2026
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
Non Performing Loans to Gross Loans (%) 5.760 Jun 2025 semiannually Dec 2003 - Jun 2025
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) -3.6 Apr 2026 monthly Jul 2015 - Apr 2026

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