Nigeria Government Debt: % of GDP

2010 - 2024 | Quarterly | % | CEIC Data

Key information about Nigeria Government Debt: % of GDP

  • Nigeria Government debt accounted for 53.8 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 52.8 % in the previous quarter.
  • Nigeria government debt to GDP ratio data is updated quarterly, available from Dec 2010 to Sep 2024.
  • The data reached an all-time high of 53.8 % in Sep 2024 and a record low of 9.6 % in Dec 2010.

CEIC calculates quarterly Government Debt as % of Nominal GDP from quarterly Government Debt and rolling sum of quarterly Nominal GDP. Government Debt is calculated as a sum of Domestic and External Government Debt. The Debt Management Office provides Government Debt in USD and local currency. The National Bureau of Statistics provides Nominal GDP in local currency. The Central Bank of Nigeria period end market exchange rate is used for currency conversions. Nominal GDP at basic prices is used.


Related information about Nigeria Government Debt: % of GDP

  • In the latest reports, Nigeria National Government Debt reached 86.3 USD bn in Sep 2024.
  • The country's Nominal GDP reached 111.3 USD bn in Mar 2023.

View Nigeria's Government Debt: % of GDP from Dec 2010 to Sep 2024 in the chart:

Nigeria Government Debt: % of GDP

What was Nigeria's Government Debt: % of GDP in Sep 2024?

Nigeria Government debt accounted for 53.8 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 52.8 % in the previous quarter. See the table below for more data.

Last Previous Min Max Unit Frequency Range
53.8 Sep 2024 52.8 Jun 2024 9.6 Dec 2010 53.8 Sep 2024 % quarterly Dec 2010 - Sep 2024

Government Debt: % of GDP by Country Comparison

country/region Last Frequency Range
Albania (%) 52.6 Sep 2024 quarterly Sep 2010 - Sep 2024
Algeria (%) 48.9 2023 yearly 1997 - 2023
Argentina (%) 80.3 Mar 2023 quarterly Dec 2004 - Mar 2023
Armenia (%) 50.3 Dec 2024 quarterly Dec 2013 - Dec 2024
Australia (%) 38.0 2023 yearly 1999 - 2023
Austria (%) 83.2 Sep 2024 quarterly Mar 2000 - Sep 2024
Azerbaijan (%) 16.8 2021 yearly 2008 - 2021
Bahrain (%) 90.7 Sep 2024 quarterly Dec 2007 - Sep 2024
Bangladesh (%) 26.6 2024 yearly 2010 - 2024
Belarus (%) 35.9 Mar 2022 quarterly Dec 2003 - Mar 2022
Belgium (%) 105.6 Sep 2024 quarterly Dec 1980 - Sep 2024
Bolivia (%) 27.2 2014 yearly 1998 - 2014
Bosnia and Herzegovina (%) 19.1 2023 yearly 2007 - 2023
Botswana (%) 23.3 Sep 2024 quarterly Jun 2014 - Sep 2024
Brazil (%) 76.1 Dec 2024 quarterly Dec 2006 - Dec 2024
Bulgaria (%) 22.1 Jun 2024 quarterly Mar 2007 - Jun 2024
Cambodia (%) 25.3 2022 yearly 2013 - 2022
Canada (%) 69.4 2024 yearly 1962 - 2024
Chile (%) 44.0 Sep 2024 quarterly Mar 2002 - Sep 2024
China (%) 25.6 Dec 2024 quarterly Mar 2014 - Dec 2024
Colombia (%) 61.8 Jun 2024 quarterly Dec 2005 - Jun 2024
Croatia (%) 59.7 Sep 2024 quarterly Dec 1995 - Sep 2024
Cyprus (%) 65.4 Dec 2024 quarterly Dec 2010 - Dec 2024
Czech Republic (%) 43.7 Sep 2024 quarterly Mar 2000 - Sep 2024
Denmark (%) 33.6 Sep 2024 quarterly Mar 2000 - Sep 2024
Ecuador (%) 67.4 Sep 2024 quarterly Dec 2005 - Sep 2024
Egypt (%) 68.6 Jun 2020 quarterly Jun 2006 - Jun 2020
Estonia (%) 23.9 Sep 2024 quarterly Mar 2000 - Sep 2024
European Union (%) 81.6 Sep 2024 quarterly Mar 2000 - Sep 2024
Finland (%) 82.1 Dec 2024 quarterly Mar 2000 - Dec 2024
France (%) 110.6 Dec 2023 quarterly Dec 1995 - Dec 2023
Georgia (%) 37.2 Sep 2024 quarterly Mar 2006 - Sep 2024
Germany (%) 62.4 Sep 2024 quarterly Mar 2000 - Sep 2024
Ghana (%) 72.3 2023 yearly 2006 - 2023
Greece (%) 158.3 Sep 2024 quarterly Dec 1999 - Sep 2024
Hong Kong SAR, China (%) 49.1 2024 yearly 2003 - 2024
Hungary (%) 73.6 Dec 2024 quarterly Dec 1990 - Dec 2024
Iceland (%) 63.9 2023 yearly 1998 - 2023
India (%) 57.2 Sep 2024 quarterly Mar 2012 - Sep 2024
Indonesia (%) 38.9 Sep 2024 quarterly Jun 2015 - Sep 2024
Iran (%) 7.5 Dec 2023 quarterly Mar 1998 - Dec 2023
Ireland (%) 42.1 Sep 2024 quarterly Mar 2000 - Sep 2024
Israel (%) 60.3 2023 yearly 1995 - 2023
Italy (%) 135.3 Dec 2024 quarterly Dec 1995 - Dec 2024
Ivory Coast (%) 8.6 2015 yearly 1975 - 2015
Japan (%) 216.2 Dec 2024 quarterly Dec 1994 - Dec 2024
Jordan (%) 91.2 Sep 2024 quarterly Mar 2002 - Sep 2024
Kazakhstan (%) 21.7 Dec 2023 quarterly Mar 2005 - Dec 2023
Kenya (%) 67.6 Sep 2024 quarterly Dec 2009 - Sep 2024
South Korea (%) 45.7 Sep 2024 quarterly Sep 2002 - Sep 2024
Kosovo (%) 19.9 2022 yearly 2009 - 2022
Kuwait (%) 0.3 Jun 2024 quarterly Dec 2010 - Jun 2024
Kyrgyzstan (%) 40.5 Sep 2024 quarterly Mar 2011 - Sep 2024
Latvia (%) 47.2 Sep 2024 quarterly Mar 2000 - Sep 2024
Lebanon (%) 150.6 2020 yearly 1998 - 2020
Lithuania (%) 38.4 Sep 2024 quarterly Mar 2000 - Sep 2024
Luxembourg (%) 26.6 Sep 2024 quarterly Dec 1997 - Sep 2024
North Macedonia (%) 53.8 Dec 2024 quarterly Dec 2009 - Dec 2024
Malawi (%) 66.0 2014 yearly 2010 - 2014
Malaysia (%) 64.6 Dec 2024 quarterly Dec 2010 - Dec 2024
Malta (%) 45.3 Sep 2024 quarterly Mar 2000 - Sep 2024
Mauritius (%) 77.0 Dec 2024 quarterly Jun 2003 - Dec 2024
Mexico (%) 47.7 Sep 2024 quarterly Dec 2005 - Sep 2024
Moldova (%) 37.8 Dec 2024 quarterly Mar 2007 - Dec 2024
Mongolia (%) 59.4 Dec 2021 quarterly Dec 2017 - Dec 2021
Montenegro (%) 59.8 Sep 2024 quarterly Dec 2010 - Sep 2024
Morocco (%) 71.5 2022 yearly 1994 - 2022
Nepal (%) 39.9 2021 yearly 1990 - 2021
Netherlands (%) 43.2 Jun 2024 quarterly Dec 1999 - Jun 2024
New Zealand (%) 44.3 Sep 2024 quarterly Dec 2006 - Sep 2024
Nigeria (%) 53.8 Sep 2024 quarterly Dec 2010 - Sep 2024
Norway (%) 44.5 2023 yearly 1995 - 2023
Oman (%) 37.5 2023 yearly 1990 - 2023
Pakistan (%) 65.2 2024 yearly 2000 - 2024
Palestinian Territory (%) 116.8 Sep 2024 quarterly Dec 2010 - Sep 2024
Panama (%) 61.6 Sep 2024 quarterly Dec 2007 - Sep 2024
Paraguay (%) 36.6 Sep 2024 quarterly Dec 2014 - Sep 2024
Peru (%) 32.7 Dec 2024 quarterly Mar 1999 - Dec 2024
Philippines (%) 60.7 Dec 2024 quarterly Mar 1993 - Dec 2024
Poland (%) 53.5 Sep 2024 quarterly Dec 2002 - Sep 2024
Portugal (%) 95.0 Dec 2024 quarterly Dec 1995 - Dec 2024
Qatar (%) 15.0 2012 yearly 2006 - 2012
Romania (%) 53.1 Sep 2024 quarterly Dec 2011 - Sep 2024
Russia (%) 14.6 Mar 2024 quarterly Dec 2011 - Mar 2024
Saudi Arabia (%) 29.9 Dec 2024 quarterly Dec 2016 - Dec 2024
Serbia (%) 47.2 Dec 2024 quarterly Sep 2004 - Dec 2024
Singapore (%) 173.1 Dec 2024 quarterly Mar 1990 - Dec 2024
Slovakia (%) 60.4 Jun 2024 quarterly Mar 2000 - Jun 2024
Slovenia (%) 66.7 Sep 2024 quarterly Dec 1999 - Sep 2024
South Africa (%) 75.1 Sep 2024 quarterly Dec 1960 - Sep 2024
Spain (%) 104.3 Sep 2024 quarterly Mar 1995 - Sep 2024
Sri Lanka (%) 96.9 Sep 2024 quarterly Mar 2014 - Sep 2024
Sweden (%) 32.1 Sep 2024 quarterly Mar 1996 - Sep 2024
Switzerland (%) 23.3 2028 yearly 1990 - 2028
Taiwan (%) 29.0 2023 yearly 1996 - 2023
Tajikistan (%) 36.3 2021 yearly 1999 - 2021
Thailand (%) 56.6 Dec 2024 quarterly Dec 1997 - Dec 2024
Tunisia (%) 79.8 2024 yearly 2016 - 2024
Turkey (%) 25.6 Sep 2024 quarterly Dec 2001 - Sep 2024
Ukraine (%) 79.4 Dec 2023 quarterly Dec 2010 - Dec 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

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -5.7 Sep 2024 quarterly Dec 2010 - Sep 2024
Consolidated Fiscal Balance (USD mn) -2,078.997 Sep 2024 quarterly Mar 2005 - Sep 2024
National Government Debt (USD mn) 86,261.2 Sep 2024 quarterly Dec 2006 - Sep 2024
Government Debt: % of GDP (%) 53.8 Sep 2024 quarterly Dec 2010 - Sep 2024
Forecast: Government Expenditure (NGN bn) 100,505.650 2029 yearly 1990 - 2029
Forecast: Government Net Debt (NGN bn) 285,181.495 2029 yearly 1990 - 2029
Forecast: Government Revenue (NGN bn) 72,588.069 2029 yearly 1990 - 2029
Federal Govt Balance (NGN bn) -3,301.610 Sep 2024 quarterly Mar 2005 - Sep 2024
Gross Federation Account Revenue (NGN bn) 6,865.840 Sep 2024 quarterly Mar 2005 - Sep 2024
Gross Federation Account Revenue: Oil (NGN bn) 1,304.960 Sep 2024 quarterly Mar 2005 - Sep 2024
Federal Govt Expenditure: Recurrent (NGN bn) 3,732.590 Sep 2024 quarterly Mar 2005 - Sep 2024
Federal Govt Revenue (NGN bn) 2,282.540 Sep 2024 quarterly Mar 2005 - Sep 2024
Federal Govt Expenditure (NGN bn) 5,584.150 Sep 2024 quarterly Mar 2005 - Sep 2024
Federal Govt Expenditure: Capital (NGN bn) 1,415.860 Sep 2024 quarterly Mar 2005 - Sep 2024
Government Debt: Domestic (NGN bn) 69,219.806 Sep 2024 quarterly Dec 2005 - Sep 2024
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) -1.879 2028 yearly 1991 - 2028
Trade Balance (USD mn) 1,027.6 Sep 2024 monthly Jan 2003 - Sep 2024
Total Exports (USD mn) 3,738.1 Sep 2024 monthly Jan 2003 - Sep 2024
Total Exports Growth (%) 56.4 Sep 2024 monthly Jan 2004 - Sep 2024
Aluminum: Exports (USD th) 187,832.450 2023 yearly 1995 - 2023
Exports: Medicament (USD th) 1,530.686 2023 yearly 1995 - 2023
Exports: Medicinal and Pharmaceutical Product (USD th) 329.199 2023 yearly 1995 - 2023
Total Imports (USD mn) 2,989.3 Mar 2023 monthly Jan 2003 - Mar 2023
Total Imports Growth (%) 62.9 Sep 2024 monthly Jan 2004 - Sep 2024
Imports: Medicament (USD th) 614,222.259 2023 yearly 1995 - 2023
Imports: Medicinal and Pharmaceutical Product (USD th) 227,440.624 2023 yearly 1995 - 2023
Total Exports to USA (USD mn) 124.857 Sep 2024 monthly Jan 2003 - Sep 2024
Total Imports from USA (USD mn) 275.937 Sep 2024 monthly Dec 2009 - Sep 2024
Total Exports to China (USD mn) 105.763 Sep 2024 monthly Jan 2007 - Sep 2024
Total Imports from China (USD mn) 802.488 Sep 2024 monthly Jan 2007 - Sep 2024
Exports: Crude Oil (NGN mn) 3,905,247.850 Sep 2024 monthly Jan 2003 - Sep 2024
Imports (NGN mn) 4,384,900.258 Sep 2024 monthly Jan 2003 - Sep 2024
Total Trade (NGN mn) 10,432,090.965 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Growth Rate: MoM (%) -17.535 Sep 2024 monthly Jan 2019 - Sep 2024
Exports: Growth Rate: MoM (%) -17.669 Sep 2024 monthly Jan 2019 - Sep 2024
Exports: America: ow USA (NGN mn) 201,983.472 Sep 2024 monthly Jan 2003 - Sep 2024
Exports (NGN mn) 6,047,190.706 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: Europe: ow Netherlands (NGN mn) 261,930.167 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: Europe: ow UK (NGN mn) 180,704.134 Sep 2024 monthly Jan 2003 - Sep 2024
Exports: Mineral Products (NGN mn) 33,075,147.443 2023 yearly 2003 - 2023
Exports: Plastic and Articles Thereof, Rubber and Articles Thereof (NGN mn) 53,170.162 2023 yearly 2003 - 2023
Exports: Vegetable Products (NGN mn) 786,963.687 2023 yearly 2003 - 2023
Imports: Europe: ow Netherlands (NGN mn) 201,091.335 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: America: ow USA (NGN mn) 446,388.165 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Europe: ow UK (NGN mn) 134,085.602 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Europe: ow Germany (NGN mn) 135,143.103 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Asia: ow China (NGN mn) 1,298,198.961 Sep 2024 monthly Jan 2007 - Sep 2024
Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) 1,024,863.121 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Manufactured Goods (NGN mn) 488,494.173 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Food and Live Animals (NGN mn) 455,343.676 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Machinery and Transport Equipment (NGN mn) 1,432,150.870 Sep 2024 monthly Jan 2003 - Sep 2024
Imports: Chemicals and Chemical Products (NGN mn) 614,100.231 Sep 2024 monthly Jan 2003 - Sep 2024
Export Value Index (2015=100) 93.461 2021 yearly 1980 - 2021
Import Value Index (2015=100) 116.198 2021 yearly 1980 - 2021
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) -831.3 Jun 2024 quarterly Mar 2008 - Jun 2024
Current Account Balance (USD mn) 5,142.5 Jun 2024 quarterly Mar 2014 - Jun 2024
Current Account Balance: % of GDP (%) 11.5 Jun 2024 quarterly Mar 2014 - Jun 2024
Foreign Direct Investment (USD mn) 1,197.6 Mar 2023 quarterly Mar 2014 - Mar 2023
Foreign Direct Investment: % of GDP (%) 1.3 Sep 2024 quarterly Mar 2010 - Sep 2024
Foreign Portfolio Investment (USD mn) 4,416.719 Jun 2024 quarterly Mar 2008 - Jun 2024
Foreign Portfolio Investment: % of GDP (%) 4.3 Sep 2024 quarterly Mar 2010 - Sep 2024
Foreign Portfolio Investment: Equity Securities (USD mn) -309.3 Jun 2024 quarterly Mar 2008 - Jun 2024
Foreign Portfolio Investment: Debt Securities (USD mn) 4,726.039 Jun 2024 quarterly Mar 2008 - Jun 2024
External Debt (USD mn) 43,026.6 Sep 2024 quarterly Dec 2006 - Sep 2024
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) -5.481 2029 yearly 1980 - 2029
Net International Investment Position (USD mn) -86,263.760 2023 yearly 2005 - 2023
External Debt: Service Payments (USD mn) 194.440 Dec 2018 quarterly Mar 2008 - Dec 2018
External Debt: Government (USD mn) 43,026.550 Sep 2024 quarterly Dec 2006 - Sep 2024
External Debt: Government: International Capital Market (USD mn) 15,118.350 Sep 2024 quarterly Mar 2011 - Sep 2024
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) 24,967.124 Jan 2025 monthly Nov 1992 - Jan 2025
Money Supply M2 (USD mn) 75,096.954 Jan 2025 monthly Nov 1992 - Jan 2025
M2 Growth (%) 18.3 Jan 2025 monthly Nov 1993 - Jan 2025
Reserve Requirement Ratio (%) 50.0 Feb 2025 monthly Nov 2005 - Feb 2025
Foreign Exchange Reserves (USD mn) 40,380.0 Nov 2024 monthly Jan 1960 - Nov 2024
Foreign Exchange Reserves: % of GDP (%) 18.573 Sep 2024 quarterly Dec 2010 - Sep 2024
Foreign Exchange Reserves: Months of Import (NA) 14.5 Sep 2024 monthly Jan 2003 - Sep 2024
Gold Reserves (USD mn) 1,599.957 Jun 2024 monthly Dec 1950 - Jun 2024
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) 67,269.4 Jan 2025 monthly Nov 1992 - Jan 2025
Domestic Credit Growth (%) -0.6 Jan 2025 monthly Nov 1993 - Jan 2025
Private Debt: % of Nominal GDP (%) 20.83 Jun 2024 quarterly Dec 2010 - Jun 2024
Monetary Survey: Liabilities: M2: M1 (NGN mn) 36,894,418.660 Jan 2025 monthly Nov 1992 - Jan 2025
Monetary Survey: Liabilities: Base Money (NGN mn) 32,659,076.490 Jan 2025 monthly Jan 1993 - Jan 2025
Monetary Survey: Liabilities: M2 (NGN mn) 110,972,270.500 Jan 2025 monthly Nov 1992 - Jan 2025
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 74,077,851.830 Jan 2025 monthly Nov 1992 - Jan 2025
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
Non Performing Loans to Gross Loans (%) 4.140 Jun 2023 semiannually Dec 2003 - Jun 2023
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) 4.4 Nov 2024 monthly Jul 2015 - Nov 2024

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