Nigeria is the richest country in Africa

Indicators of the economy in Nigeria

The main economic performance of a country can be read from the gross domestic product. So the total of all goods and services sold in the country. Worldwide, the gross domestic product in 2019 was around 10,209 euros per capita. In contrast, the GDP in Nigeria reached 1,992 euros per inhabitant, or 400.29 billion euros in the whole country. Nigeria currently ranks 26th among the major economies. If this is calculated per inhabitant taking into account the purchasing power parity, then Nigeria ranks 140th in the list of the world's richest countries.

The inflation rate in Nigeria was around 11.40% in 2019. Within the EU, the average in the same year was 1.63%.

Compared to Germany, the prices for daily necessities are around 55.86% lower.
The index for perceived corruption in the public sector is 25 and is therefore very poor in a global comparison.


Back to overview: Nigeria

Unemployment rates in percent 1991-2020

Economic performance 2019



The largest publicly traded company in Nigeria is Zenith Bank with a market capitalization of $ 1,169.00 billion. It is the only company in the country to be included in the Forbes Global 2000 list in 2020. This independent list annually publishes the 2000 largest companies worldwide, with Zenith Bank reaching the 1842nd place.

Development of the gross domestic product in billion euros 1979 - 2019



Imports and exports 2019



Development of imports and exports in billion euros 1979 - 2019




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