Total government debt in Nigeria
Nigeria: Total government debt was 4.34 trillion current LCU in 2002. ◆ Volatile
Total government debt in Nigeria, 1994–2002
Source: World Bank country economists. Measured in current LCU.
Analysis
The most recent figure for total government debt in Nigeria is 4.34 trillion current LCU, measured in 2002.
The figure is down 0.8% on the previous year and up 305.7% over ten years.
Over the whole period, total government debt in Nigeria peaked at 4.38 trillion current LCU in 2001 and was at its lowest, 1.07 trillion current LCU, in 1994.
That places Nigeria 7th out of 44 countries with data for 2002, putting it in the top quarter.
Total government debt in Nigeria, year by year
| Year | current LCU | Change |
|---|---|---|
| 1994 | 1.07 trillion current LCU | — |
| 1995 | 1.13 trillion current LCU | +6.0% |
| 1996 | 1.14 trillion current LCU | +0.2% |
| 1997 | 2.22 trillion current LCU | +95.2% |
| 1998 | 2.33 trillion current LCU | +5.1% |
| 1999 | 2.87 trillion current LCU | +23.0% |
| 2000 | 4.23 trillion current LCU | +47.5% |
| 2001 | 4.38 trillion current LCU | +3.5% |
| 2002 | 4.34 trillion current LCU | -0.8% |
Nigeria compared with similar countries
- Nigeria's 4.34 trillion current LCU is above the median for lower middle income countries, which is 676.14 billion current LCU, 6.4× the median. (22 countries reporting)
- Nigeria's 4.34 trillion current LCU is above the median for Sub-Saharan Africa, which is 525.00 billion current LCU, 8.3× the median. (39 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 1.79 trillion current LCU | 1.07 trillion current LCU | 2.87 trillion current LCU | 6 |
| 2000s | 4.31 trillion current LCU | 4.23 trillion current LCU | 4.38 trillion current LCU | 3 |
Countries ranked near Nigeria
- 4 Cote d'Ivoire 16.22 trillion current LCU compare
- 5 Guinea 15.46 trillion current LCU compare
- 6 Uganda 8.85 trillion current LCU compare
- 8 Madagascar 4.08 trillion current LCU
- 9 Sao Tome and Principe 3.31 trillion current LCU compare
- 10 Angola 3.08 trillion current LCU compare
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 total government debt in Nigeria?
- Total government debt in Nigeria was 4.34 trillion current LCU in 2002, according to World Bank country economists.
- What is the highest total government debt recorded in Nigeria?
- The highest recorded value was 4.38 trillion current LCU in 2001.
- What is the lowest total government debt recorded in Nigeria?
- The lowest recorded value was 1.07 trillion current LCU in 1994.
- How does Nigeria rank for total government debt?
- Nigeria ranks 7th out of 44 countries with data for 2002.
- Is total government debt rising or falling in Nigeria?
- Over the last ten years it is up 305.7%. 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 Total government debt (current LCU). Statizoid updates them automatically from the source API.
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About this data
Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year. Data are in current local currency.