Nigeria Private Consumption: % of GDP
1981 - 2024 | Yearly | % | CEIC Data
Key information about Nigeria Private Consumption: % of GDP
- Nigeria Private Consumption accounted for 47.0 % of its Nominal GDP in Dec 2024, compared with a ratio of 45.7 % in the previous year.
- Nigeria Private Consumption contribution to Nominal GDP ratio is updated yearly, available from Dec 1981 to Dec 2024, with an average share of 64.6 %.
- The data reached an all-time high of 81.5 % in Dec 2016 and a record low of 9.8 % in Dec 1981.
CEIC calculates Private Consumption as % of Nominal GDP from annual Private Consumption Expenditure and annual Nominal GDP. Private Consumption Expenditure is calculated as the sum of Household and NPISHs consumption. The National Bureau of Statistics provides Private Consumption Expenditure in local currency and Nominal GDP in local currency.
Related information about Nigeria Private Consumption: % of GDP
- In the latest reports, Nigeria GDP expanded 4.2 % YoY in Jun 2025.
- Its Nominal GDP reached 63.8 USD bn in Jun 2025.
- Nigeria GDP Per Capita reached 2,955.3 USD in Dec 2022.
- Its Gross Savings Rate was measured at 48.5 % in Dec 2024.
View Nigeria's Private Consumption: % of GDP from 1981 to 2024 in the chart:
What was Nigeria's Private Consumption: % of GDP in 2024?
Nigeria Private Consumption accounted for 47.0 % of its Nominal GDP in Dec 2024, compared with a ratio of 45.7 % in the previous year. See the table below for more data.
| Last | Previous | Min | Max | Unit | Frequency | Range |
|---|---|---|---|---|---|---|
| 47.0 2024 | 45.7 2023 | 9.8 1981 | 81.5 2016 | % | yearly | 1981 - 2024 |
Private Consumption: % of GDP by Country Comparison
| country/region | Last | Frequency | Range |
|---|---|---|---|
| Albania (%) | 70.4 Jun 2025 | quarterly | Mar 1995 - Jun 2025 |
| Algeria (%) | 41.3 2024 | yearly | 1950 - 2024 |
| Argentina (%) | 78.4 Mar 2026 | quarterly | Mar 1993 - Mar 2026 |
| Armenia (%) | 74.4 Jun 2026 | quarterly | Dec 1994 - Jun 2026 |
| Australia (%) | 51.6 Jun 2026 | quarterly | Sep 1959 - Jun 2026 |
| Austria (%) | 53.1 Jun 2026 | quarterly | Mar 1988 - Jun 2026 |
| Azerbaijan (%) | 57.9 Jun 2025 | quarterly | Mar 2001 - Jun 2025 |
| Bahrain (%) | 40.9 2025 | yearly | 1975 - 2025 |
| Bangladesh (%) | 72.2 2025 | yearly | 1973 - 2025 |
| Belarus (%) | 58.9 Mar 2026 | quarterly | Mar 1994 - Mar 2026 |
| Belgium (%) | 52.5 Jun 2026 | quarterly | Mar 1980 - Jun 2026 |
| Bolivia (%) | 79.6 Dec 2024 | quarterly | Mar 1990 - Dec 2024 |
| Bosnia and Herzegovina (%) | 69.1 Mar 2026 | quarterly | Mar 2000 - Mar 2026 |
| Botswana (%) | 40.4 Mar 2026 | quarterly | Mar 2006 - Mar 2026 |
| Brazil (%) | 61.7 Jun 2026 | quarterly | Mar 1996 - Jun 2026 |
| Brunei (%) | 33.1 Mar 2026 | quarterly | Mar 2004 - Mar 2026 |
| Bulgaria (%) | 56.7 Jun 2025 | quarterly | Mar 1995 - Jun 2025 |
| Cambodia (%) | 58.3 2025 | yearly | 1993 - 2025 |
| Canada (%) | 56.9 Jun 2026 | quarterly | Mar 1961 - Jun 2026 |
| Chile (%) | 58.5 Sep 2025 | quarterly | Mar 1996 - Sep 2025 |
| China (%) | 40.0 2024 | yearly | 1952 - 2024 |
| Colombia (%) | 74.1 Jun 2026 | quarterly | Mar 2005 - Jun 2026 |
| Croatia (%) | 56.3 Jun 2026 | quarterly | Mar 1995 - Jun 2026 |
| Cyprus (%) | 60.0 Mar 2026 | quarterly | Mar 1995 - Mar 2026 |
| Czech Republic (%) | 46.7 Sep 2025 | quarterly | Mar 1995 - Sep 2025 |
| Denmark (%) | 43.2 Jun 2026 | quarterly | Mar 1990 - Jun 2026 |
| Ecuador (%) | 64.1 Jun 2025 | quarterly | Mar 1991 - Jun 2025 |
| Egypt (%) | 93.4 Mar 2026 | quarterly | Sep 2001 - Mar 2026 |
| Estonia (%) | 51.7 Jun 2026 | quarterly | Mar 1993 - Jun 2026 |
| European Union (%) | 52.9 Jun 2026 | quarterly | Mar 1995 - Jun 2026 |
| Finland (%) | 50.5 Jun 2026 | quarterly | Mar 1975 - Jun 2026 |
| France (%) | 53.4 Jun 2026 | quarterly | Mar 1980 - Jun 2026 |
| Georgia (%) | 75.4 Mar 2026 | quarterly | Mar 1996 - Mar 2026 |
| Germany (%) | 54.1 Jun 2026 | quarterly | Mar 1991 - Jun 2026 |
| Ghana (%) | 79.7 2025 | yearly | 2006 - 2025 |
| Greece (%) | 69.9 Jun 2026 | quarterly | Mar 1995 - Jun 2026 |
| Hong Kong SAR, China (%) | 69.2 Jun 2026 | quarterly | Mar 1973 - Jun 2026 |
| Hungary (%) | 53.0 Jun 2025 | quarterly | Mar 1995 - Jun 2025 |
| Iceland (%) | 51.2 Jun 2026 | quarterly | Mar 1995 - Jun 2026 |
| India (%) | 55.6 Jun 2026 | quarterly | Jun 1996 - Jun 2026 |
| Indonesia (%) | 54.7 Jun 2026 | quarterly | Mar 1993 - Jun 2026 |
| Iran (%) | 55.2 Jun 2025 | quarterly | Jun 1988 - Jun 2025 |
| Ireland (%) | 29.0 Jun 2026 | quarterly | Mar 1995 - Jun 2026 |
| Israel (%) | 47.2 Jun 2026 | quarterly | Mar 1995 - Jun 2026 |
| Italy (%) | 58.7 Sep 2025 | quarterly | Mar 1980 - Sep 2025 |
| Ivory Coast (%) | 66.5 2025 | yearly | 1960 - 2025 |
| Japan (%) | 52.5 Jun 2026 | quarterly | Mar 1955 - Jun 2026 |
| Jordan (%) | 73.6 2023 | yearly | 1962 - 2023 |
| Kazakhstan (%) | 54.6 Jun 2025 | quarterly | Mar 1994 - Jun 2025 |
| Kenya (%) | 76.3 2025 | yearly | 1969 - 2025 |
| South Korea (%) | 39.8 Jun 2026 | quarterly | Mar 1960 - Jun 2026 |
| Kosovo (%) | 88.2 Jun 2025 | quarterly | Mar 2010 - Jun 2025 |
| Kuwait (%) | 41.6 2024 | yearly | 1962 - 2024 |
| Kyrgyzstan (%) | 103.2 Mar 2026 | quarterly | Mar 2000 - Mar 2026 |
| Laos (%) | 64.4 2016 | yearly | 2000 - 2016 |
| Latvia (%) | 56.3 Jun 2026 | quarterly | Mar 1995 - Jun 2026 |
| Lebanon (%) | 110.7 2024 | yearly | 2004 - 2024 |
| Lithuania (%) | 53.3 Sep 2025 | quarterly | Mar 1993 - Sep 2025 |
| Luxembourg (%) | 33.8 Jun 2025 | quarterly | Mar 1995 - Jun 2025 |
| Macau SAR, China (%) | 30.5 Jun 2026 | quarterly | Mar 1998 - Jun 2026 |
| North Macedonia (%) | 68.5 Jun 2025 | quarterly | Mar 2000 - Jun 2025 |
| Malawi (%) | 84.1 2025 | yearly | 1960 - 2025 |
| Malaysia (%) | 58.6 Jun 2026 | quarterly | Mar 1991 - Jun 2026 |
| Malta (%) | 44.3 Jun 2026 | quarterly | Mar 1992 - Jun 2026 |
| Mauritius (%) | 65.2 Mar 2026 | quarterly | Mar 1999 - Mar 2026 |
| Mexico (%) | 69.1 Mar 2026 | quarterly | Mar 1993 - Mar 2026 |
| Moldova (%) | 92.5 Mar 2026 | quarterly | Mar 1995 - Mar 2026 |
| Mongolia (%) | 40.0 Jun 2026 | quarterly | Mar 2010 - Jun 2026 |
| Montenegro (%) | 82.1 Jun 2026 | quarterly | Mar 2006 - Jun 2026 |
| Morocco (%) | 57.5 Mar 2026 | quarterly | Mar 2007 - Mar 2026 |
| Mozambique (%) | 73.9 2025 | yearly | 1969 - 2025 |
| Nepal (%) | 86.2 2025 | yearly | 1975 - 2025 |
| Netherlands (%) | 42.5 Jun 2026 | quarterly | Mar 1977 - Jun 2026 |
| New Zealand (%) | 57.3 Dec 2025 | quarterly | Jun 1987 - Dec 2025 |
| Nigeria (%) | 47.0 2024 | yearly | 1981 - 2024 |
| Norway (%) | 41.4 Jun 2026 | quarterly | Mar 1978 - Jun 2026 |
| Oman (%) | 40.1 2025 | yearly | 1980 - 2025 |
| Pakistan (%) | 83.6 2025 | yearly | 1967 - 2025 |
| Palestinian Territory (%) | 98.5 Mar 2026 | quarterly | Mar 2011 - Mar 2026 |
| Panama (%) | 47.3 2023 | yearly | 1996 - 2023 |
| Paraguay (%) | 64.4 Mar 2026 | quarterly | Mar 1994 - Mar 2026 |
| Peru (%) | 61.4 Jun 2026 | quarterly | Mar 1980 - Jun 2026 |
| Philippines (%) | 73.3 Jun 2026 | quarterly | Mar 1981 - Jun 2026 |
| Poland (%) | 59.9 Jun 2026 | quarterly | Mar 1995 - Jun 2026 |
| Portugal (%) | 61.3 Jun 2026 | quarterly | Mar 1995 - Jun 2026 |
| Qatar (%) | 20.6 Dec 2022 | quarterly | Mar 2013 - Dec 2022 |
| Romania (%) | 59.0 Jun 2026 | quarterly | Mar 1995 - Jun 2026 |
| Russia (%) | 56.8 Mar 2026 | quarterly | Mar 1993 - Mar 2026 |
| Saudi Arabia (%) | 45.8 Jun 2026 | quarterly | Mar 2003 - Jun 2026 |
| Serbia (%) | 66.4 Sep 2025 | quarterly | Mar 1995 - Sep 2025 |
| Singapore (%) | 31.1 2025 | yearly | 1960 - 2025 |
| Slovakia (%) | 58.5 Jun 2025 | quarterly | Mar 1993 - Jun 2025 |
| Slovenia (%) | 50.3 Jun 2026 | quarterly | Mar 1995 - Jun 2026 |
| South Africa (%) | 66.0 Jun 2026 | quarterly | Mar 1960 - Jun 2026 |
| Spain (%) | 55.1 Jun 2026 | quarterly | Mar 1980 - Jun 2026 |
| Sri Lanka (%) | 66.7 Mar 2026 | quarterly | Mar 2010 - Mar 2026 |
| Sudan (%) | 77.8 2016 | yearly | 1976 - 2016 |
| Sweden (%) | 46.3 Jun 2026 | quarterly | Mar 1980 - Jun 2026 |
| Switzerland (%) | 47.7 Jun 2026 | quarterly | Mar 1980 - Jun 2026 |
| Syria (%) | 114.8 2022 | yearly | 1970 - 2022 |
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| 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) | 111,691.0 Mar 2026 | quarterly | Dec 2006 - Mar 2026 |
| Government Debt: % of GDP (%) | 34.6 Mar 2026 | quarterly | Dec 2010 - Mar 2026 |
| 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) | 82,877.622 Mar 2026 | quarterly | Dec 2005 - Mar 2026 |
| Federal Govt Expenditure: Capital (NGN bn) | 958.160 Dec 2024 | quarterly | Mar 2005 - Dec 2024 |
| Federal Govt Expenditure: Recurrent (NGN bn) | 4,210.940 Dec 2024 | quarterly | Mar 2005 - Dec 2024 |
| Gross Federation Account Revenue (NGN bn) | 8,626.160 Dec 2025 | quarterly | Mar 2005 - Dec 2025 |
| Federal Govt Expenditure (NGN bn) | 5,604.790 Dec 2024 | quarterly | Mar 2005 - Dec 2024 |
| Federal Govt Revenue (NGN bn) | 2,519.820 Dec 2024 | quarterly | Mar 2005 - Dec 2024 |
| Gross Federation Account Revenue: Oil (NGN bn) | 3,470.680 Dec 2025 | quarterly | Mar 2005 - Dec 2025 |
| Federal Govt Balance (NGN bn) | -3,084.970 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) | 3,144.6 Jun 2026 | monthly | Jan 2003 - Jun 2026 |
| Total Exports (USD mn) | 6,695.9 Jun 2026 | monthly | Jan 2003 - Jun 2026 |
| Total Exports Growth (%) | 21.6 Jun 2026 | monthly | Jan 2004 - Jun 2026 |
| Aluminum: Exports (USD th) | 242,851.843 2024 | yearly | 1995 - 2024 |
| Exports: Medicament (USD th) | 2,667.217 2025 | yearly | 1995 - 2025 |
| Exports: Medicinal and Pharmaceutical Product (USD th) | 558.096 2025 | yearly | 1995 - 2025 |
| Total Imports (USD mn) | 2,644.8 Jun 2025 | monthly | Jan 2003 - Jun 2025 |
| Total Imports Growth (%) | 7.2 Jun 2026 | monthly | Jan 2004 - Jun 2026 |
| Imports: Medicament (USD th) | 514,048.055 2025 | yearly | 1995 - 2025 |
| Imports: Medicinal and Pharmaceutical Product (USD th) | 256,301.450 2025 | yearly | 1995 - 2025 |
| Total Exports to USA (USD mn) | 873.115 Jun 2026 | monthly | Jan 2003 - Jun 2026 |
| Total Imports from USA (USD mn) | 289.501 Jun 2026 | monthly | Dec 2009 - Jun 2026 |
| Total Exports to China (USD mn) | 182.031 Jun 2026 | monthly | Jan 2007 - Jun 2026 |
| Total Imports from China (USD mn) | 1,525.025 Jun 2026 | monthly | Jan 2007 - Jun 2026 |
| Exports: Mineral Products (NGN mn) | 73,459,088.314 2025 | yearly | 2003 - 2025 |
| Exports: Vegetable Products (NGN mn) | 1,539,822.759 2025 | yearly | 2003 - 2025 |
| Exports: Plastic and Articles Thereof, Rubber and Articles Thereof (NGN mn) | 244,171.194 2025 | yearly | 2003 - 2025 |
| Exports: Europe: ow UK (NGN mn) | 183,153.971 Jun 2026 | monthly | Jan 2003 - Jun 2026 |
| Exports: America: ow USA (NGN mn) | 1,193,102.600 Jun 2026 | monthly | Jan 2003 - Jun 2026 |
| Exports: Europe: ow Netherlands (NGN mn) | 897,681.601 Jun 2026 | monthly | Jan 2003 - Jun 2026 |
| Exports (NGN mn) | 9,149,930.540 Jun 2026 | monthly | Jan 2003 - Jun 2026 |
| Imports: Chemicals and Chemical Products (NGN mn) | 920,619.659 Jun 2026 | monthly | Jan 2003 - Jun 2026 |
| Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) | 310,072.872 Jun 2026 | monthly | Jan 2003 - Jun 2026 |
| Imports: Manufactured Goods (NGN mn) | 684,564.377 Jun 2026 | monthly | Jan 2003 - Jun 2026 |
| Imports: Food and Live Animals (NGN mn) | 586,497.981 Jun 2026 | monthly | Jan 2003 - Jun 2026 |
| Imports: Machinery and Transport Equipment (NGN mn) | 2,006,820.477 Jun 2026 | monthly | Jan 2003 - Jun 2026 |
| Imports: Europe: ow Germany (NGN mn) | 154,396.445 Jun 2026 | monthly | Jan 2003 - Jun 2026 |
| Imports: Europe: ow Netherlands (NGN mn) | 170,700.714 Jun 2026 | monthly | Jan 2003 - Jun 2026 |
| Imports: Asia: ow China (NGN mn) | 2,083,931.427 Jun 2026 | monthly | Jan 2007 - Jun 2026 |
| Imports: America: ow USA (NGN mn) | 395,600.950 Jun 2026 | monthly | Jan 2003 - Jun 2026 |
| Imports: Europe: ow UK (NGN mn) | 137,002.760 Jun 2026 | monthly | Jan 2003 - Jun 2026 |
| Imports (NGN mn) | 4,852,803.770 Jun 2026 | monthly | Jan 2003 - Jun 2026 |
| Exports: Crude Oil (NGN mn) | 4,138,590.195 Jun 2026 | monthly | Jan 2003 - Jun 2026 |
| Total Trade (NGN mn) | 14,002,734.310 Jun 2026 | monthly | Jan 2003 - Jun 2026 |
| Imports: Growth Rate: MoM (%) | -7.422 Jun 2026 | monthly | Jan 2019 - Jun 2026 |
| Exports: Growth Rate: MoM (%) | 5.725 Jun 2026 | monthly | Jan 2019 - Jun 2026 |
| Export Value Index (2015=100) | 106.400 2024 | yearly | 2005 - 2024 |
| Import Value Index (2015=100) | 91.600 2024 | yearly | 2005 - 2024 |
| Balance of Payments | Last | Frequency | Range |
|---|---|---|---|
| Direct Investment Abroad (USD mn) | 200.8 Mar 2026 | quarterly | Mar 2008 - Mar 2026 |
| Current Account Balance (USD mn) | 4,981.1 Mar 2026 | quarterly | Mar 2014 - Mar 2026 |
| Current Account Balance: % of GDP (%) | 6.1 Mar 2026 | quarterly | Mar 2014 - Mar 2026 |
| Foreign Direct Investment (USD mn) | 1,034.1 Mar 2026 | quarterly | Mar 2014 - Mar 2026 |
| Foreign Direct Investment: % of GDP (%) | 1.3 Mar 2026 | quarterly | Mar 2010 - Mar 2026 |
| Foreign Portfolio Investment (USD mn) | 6,025.245 Mar 2026 | quarterly | Mar 2008 - Mar 2026 |
| Foreign Portfolio Investment: % of GDP (%) | 7.5 Mar 2026 | quarterly | Mar 2010 - Mar 2026 |
| Foreign Portfolio Investment: Equity Securities (USD mn) | 1,972.4 Mar 2026 | quarterly | Mar 2008 - Mar 2026 |
| Foreign Portfolio Investment: Debt Securities (USD mn) | 4,052.849 Mar 2026 | quarterly | Mar 2008 - Mar 2026 |
| External Debt (USD mn) | 51,904.1 Mar 2026 | quarterly | Dec 2006 - Mar 2026 |
| 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) | -98,161.801 2025 | yearly | 2005 - 2025 |
| External Debt: Government (USD mn) | 51,904.080 Mar 2026 | quarterly | Dec 2006 - Mar 2026 |
| 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) | 32,411.052 Jun 2026 | monthly | Apr 1990 - Jun 2026 |
| Money Supply M2 (USD mn) | 101,458.254 Jul 2026 | monthly | Apr 1990 - Jul 2026 |
| M2 Growth (%) | 15.8 Jul 2026 | monthly | Apr 1991 - Jul 2026 |
| Reserve Requirement Ratio (%) | 45.0 Jul 2026 | monthly | Nov 2005 - Jul 2026 |
| Foreign Exchange Reserves (USD mn) | 48,350.1 Mar 2026 | monthly | Jan 1960 - Mar 2026 |
| Foreign Exchange Reserves: % of GDP (%) | 15.946 Mar 2026 | quarterly | Dec 2010 - Mar 2026 |
| Foreign Exchange Reserves: Months of Import (NA) | 14.1 Mar 2026 | monthly | Jan 2003 - Mar 2026 |
| Gold Reserves (USD mn) | 3,173.290 Mar 2026 | monthly | Dec 1950 - Mar 2026 |
| 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) | 89,394.0 Jun 2026 | monthly | Apr 1990 - Jun 2026 |
| Domestic Credit Growth (%) | 26.1 Jun 2026 | monthly | Apr 1991 - Jun 2026 |
| Private Debt: % of Nominal GDP (%) | 15.41 Jun 2024 | quarterly | Dec 2010 - Jun 2024 |
| Monetary Survey: Liabilities: Base Money (NGN mn) | 42,112,029.830 Jul 2026 | monthly | Apr 1990 - Jul 2026 |
| Monetary Survey: Liabilities: M2: M1 (NGN mn) | 43,676,109.420 Jul 2026 | monthly | Apr 1990 - Jul 2026 |
| Monetary Survey: Liabilities: M2 (NGN mn) | 133,244,656.930 Jun 2026 | monthly | Apr 1990 - Jun 2026 |
| Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) | 88,543,846.700 Jun 2026 | monthly | Apr 1990 - Jun 2026 |
| Monetary Survey: Liabilities: M3 (NGN mn) | 35,345,802.020 Jun 2020 | monthly | Nov 1992 - Jun 2020 |
| Business and Economic Survey | Last | Frequency | Range |
|---|---|---|---|
| Business Confidence Growth (% Point) | 2.4 Aug 2026 | monthly | Jul 2015 - Aug 2026 |
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