The Gross Domestic Product (GDP) in Nigeria was worth 410 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. The GDP value of Nigeria represents 0.34 percent of the world economy. Nigeria GDP - values, historical data and charts - was last updated on March of 2020. Salami did the math. He estimated that Nigeria could produce 800 million barrels of oil per year, which means that for every one of the Nigeria’s roughly 200 million people, the country produces four barrels of oil. He also estimated a population of 200 million. The combined value of exports and imports is equal to 20.7 percent of GDP. The average applied tariff rate is 11.3 percent. As of June 30, 2018, according to the WTO, Nigeria had one nontariff measure in force. Lingering barriers to trade and investment in the form of bureaucratic delays persist.

12 Feb 2019 Gross domestic product grew by 1.93 percent last year, up from 0.82 percent in 2017 Higher oil prices helped Nigeria exit that contraction. 11 Feb 2019 Gross domestic product in Africa's largest oil producer expanded 1.9 percent last year, the most since 2015, the Abuja-based National Bureau  Units: Percent Change From Preceding Period, Not Seasonally Adjusted. Frequency: Annual. Notes: Annual data observations begin 8 years before the year of  While oil and gas remain critical sources of government income and of exports, the country's entire resource sector today accounts for just 14 percent of GDP. petroleum products, as they provide 70 percent of government revenue and about 95 Table 3.2: Contributions of the Nigerian Petroleum Industry to Real GDP, 

28 Aug 2018 The oil sector slowed the nation's real Gross Domestic Product (GDP) to 1.50 per cent in the second quarter of 2018 from 1.95 per cent 

Nigeria's gross domestic product (GDP): 9 percent in 2015 and 8 percent in 2016. Is this really an oil- based economy? The importance of the petroleum sector is  Apart from petroleum, Nigeria's other natural resources include natural gas, The oil and gas sector accounts for about 10 per cent of gross domestic product,   Nigeria: Revenue minus production cost of oil, percent of GDP: For that indicator, The World Bank provides data for Nigeria from 1970 to 2017. The average  Oil rents (% of GDP). Estimates based on sources and methods described in "The Changing Wealth of Nations: Measuring Sustainable Development in the New  The non-oil sector increased 2.26%, quickening from a downwardly revised 1.84 % GDP Annual Growth Rate in Nigeria averaged 3.80 percent from 1982 until  8 Jan 2020 In 2018, agriculture contributed around 21.2 percent to Nigeria's GDP, 25.75 percent came from industry, and 52.01 percent from the services  21 Nov 2019 Market analysts assess Nigeria's oil and non-oil economic prospects in output could wipe one percentage point off GDP growth, almost halving it, says Non- oil GDP has lagged behind but the hope is that better adherence 

The economy of Nigeria is a middle-income, mixed economy and emerging market, with In addition, the debt-to-GDP ratio is 16.075 percent as of 2019. GDP. Nigeria produces only about 2.7% of the world's oil supply (in comparison, Saudi 

Oil rents (% of GDP) Estimates based on sources and methods described in "The Changing Wealth of Nations: Measuring Sustainable Development in the New Millennium" ( World Bank, 2011 ).

The Gross Domestic Product (GDP) in Nigeria was worth 410 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. The GDP value of Nigeria represents 0.34 percent of the world economy. Nigeria GDP - values, historical data and charts - was last updated on March of 2020.

The Gross Domestic Product (GDP) in Nigeria was worth 410 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. The GDP value of Nigeria represents 0.34 percent of the world economy. Nigeria GDP - values, historical data and charts - was last updated on March of 2020. The combined value of exports and imports is equal to 20.7 percent of GDP. The average applied tariff rate is 11.3 percent. As of June 30, 2018, according to the WTO, Nigeria had one nontariff measure in force. Lingering barriers to trade and investment in the form of bureaucratic delays persist. Oil rents (% of GDP) Estimates based on sources and methods described in "The Changing Wealth of Nations: Measuring Sustainable Development in the New Millennium" ( World Bank, 2011 ). Although oil revenues contribute 2/3 of state revenues, oil only contributes about 9% to the GDP. Nigeria produces only about 2.7% of the world's oil supply (in comparison, Saudi Arabia produces 12.9%, Russia produces 12.7% and the United States produces 8.6%). Although the petroleum sector is important, Oil and Non-oil sectors: The Nigerian economy can be classified broadly into the oil and non-oil sectors. Growth in Nigeria’s oil sector contracted and worsened as it recorded negative growth of -2.40 percent in Q1 2019, down from -1.62 percent earlier recorded. In that quarter, oil contribution to GDP was 9.04 percent, up from 8.79 percent in the corresponding quarter of 2016 (Q2 2016) and 8.53 percent in the preceding quarter of 2017 (Q1 2017). Year-to-date oil growth rate also rose from -14.45 percent to 3.80 percent.

29 Aug 2018 The oil sector made up 8.55% of GDP and the non-oil sector 91.45%. Nigeria's GDP composition by sector (first quarter of 2018). Estimates by the 

The economy of Nigeria is a middle-income, mixed economy and emerging market, with In addition, the debt-to-GDP ratio is 16.075 percent as of 2019. GDP. Nigeria produces only about 2.7% of the world's oil supply (in comparison, Saudi  29 Aug 2018 The oil sector made up 8.55% of GDP and the non-oil sector 91.45%. Nigeria's GDP composition by sector (first quarter of 2018). Estimates by the  Nigeria's gross domestic product (GDP): 9 percent in 2015 and 8 percent in 2016. Is this really an oil- based economy? The importance of the petroleum sector is  Apart from petroleum, Nigeria's other natural resources include natural gas, The oil and gas sector accounts for about 10 per cent of gross domestic product,  

Nigeria: Revenue minus production cost of oil, percent of GDP: For that indicator, The World Bank provides data for Nigeria from 1970 to 2017. The average  Oil rents (% of GDP). Estimates based on sources and methods described in "The Changing Wealth of Nations: Measuring Sustainable Development in the New  The non-oil sector increased 2.26%, quickening from a downwardly revised 1.84 % GDP Annual Growth Rate in Nigeria averaged 3.80 percent from 1982 until  8 Jan 2020 In 2018, agriculture contributed around 21.2 percent to Nigeria's GDP, 25.75 percent came from industry, and 52.01 percent from the services  21 Nov 2019 Market analysts assess Nigeria's oil and non-oil economic prospects in output could wipe one percentage point off GDP growth, almost halving it, says Non- oil GDP has lagged behind but the hope is that better adherence  The oil sector provides for 95% of Nigeria's foreign exchange earnings and 80% of its budgetary Note: GDP composition percentage may exceed 100.