External borrowing, net in Nigeria
Nigeria: External borrowing, net was -160.61 billion current LCU in 2005. ◆ Volatile
External borrowing, net in Nigeria, 1994–2005
Source: World Bank country economists. Measured in current LCU.
Analysis
In 2005, external borrowing, net in Nigeria stood at -160.61 billion current LCU.
That represents a change of up 7.0% on the previous year and down 178.4% over ten years.
Over the whole period, external borrowing, net in Nigeria peaked at 40.88 billion current LCU in 1997 and was at its lowest, -188.26 billion current LCU, in 1999.
That places Nigeria 48th out of 50 countries with data for 2005, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
External borrowing, net in Nigeria, year by year
| Year | current LCU | Change |
|---|---|---|
| 1994 | -45.84 billion current LCU | — |
| 1995 | -57.69 billion current LCU | +25.8% |
| 1996 | -57.94 billion current LCU | +0.4% |
| 1997 | 40.88 billion current LCU | -170.6% |
| 1998 | -38.58 billion current LCU | -194.4% |
| 1999 | -188.26 billion current LCU | +388.0% |
| 2000 | -160.00 billion current LCU | -15.0% |
| 2001 | -184.00 billion current LCU | +15.0% |
| 2002 | -155.00 billion current LCU | -15.8% |
| 2003 | -168.94 billion current LCU | +9.0% |
| 2004 | -172.62 billion current LCU | +2.2% |
| 2005 | -160.61 billion current LCU | -7.0% |
Nigeria compared with similar countries
- Nigeria's -160.61 billion current LCU is below the median for lower middle income countries, which is 3.27 billion current LCU. (24 countries reporting)
- Nigeria's -160.61 billion current LCU is below the median for Sub-Saharan Africa, which is 9.40 billion current LCU. (45 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | -57.90 billion current LCU | -188.26 billion current LCU | 40.88 billion current LCU | 6 |
| 2000s | -166.86 billion current LCU | -184.00 billion current LCU | -155.00 billion current LCU | 6 |
Countries ranked near Nigeria
More science & technology data for Nigeria
- Mobile landline subscriptions, per unit of GDP 0 units per US$ of GDP (2024)
- Mobile landline subscriptions, gaps filled 70.76 (2024)
- Mobile cellular subscriptions by country, per capita 0.7076 units per person (2024)
- Mobile cellular subscriptions by country, per unit of GDP 0.0007 units per US$ of GDP (2024)
- Mobile cellular subscriptions by country, gaps filled 164.65 million (2024)
- Mobile cellular subscriptions by country, per square kilometre 246.4 units per square kilometre (2023)
- Mobile landline subscriptions, annual growth rate -28.14 % change on previous year (2024)
- Mobile cellular subscriptions by country, annual growth rate -26.63 % change on previous year (2024)
- Scientific and technical journal articles 9,799 (2023)
- Scientific and technical journal articles, per capita 0 units per person (2023)
Frequently asked questions
- What is external borrowing, net in Nigeria?
- External borrowing, net in Nigeria was -160.61 billion current LCU in 2005, according to World Bank country economists.
- What is the highest external borrowing, net recorded in Nigeria?
- The highest recorded value was 40.88 billion current LCU in 1997.
- What is the lowest external borrowing, net recorded in Nigeria?
- The lowest recorded value was -188.26 billion current LCU in 1999.
- How does Nigeria rank for external borrowing, net?
- Nigeria ranks 48th out of 50 countries with data for 2005.
- Is external borrowing, net rising or falling in Nigeria?
- Over the last ten years it is down 178.4%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from World Bank country economists, published as part of External borrowing, net (current LCU). Statizoid updates them automatically from the source API.
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About this data
Financing from abroad (obtained from nonresidents) refer to the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. It includes all government liabilities--other. Data are in current local currency.