Change in per capita GDP of Nigeria, 1950–2018. Figures are inflation-adjusted to 2011 International Geary–Khamis dollars. In Nigeria’s case, GDP statistics have not been rebased since 1990. The impact of dramatic growth in telecoms, banking and the Nollywood film industry may have been downplayed. Estimates of the likely upward revision to Nigeria’sGDP run from 20 per cent to 60 per cent. Quora is a place to gain and share knowledge. It's a platform to ask questions and connect with people who contribute unique insights and quality answers. This empowers people to learn from each other and to better understand the world. Nigeria’sGrossDomesticProduct (GDP), which measures the total value of goods and services produced in the country, grew by 4.23% in Q2, 2025. “Nigeria has the capacity not just to lead Africa, but to lead theGlobal South,” he said. “But that will not happen without sacrifices — manufacturing, production, and linking schools, farms and markets.” Alaje concluded with a warning over election-year pressure on foreign reserves. Recent macroeconomic and financial developments economic growth in Nigeria slowed from 3.3% in 2022 to 2.9% in 2023 due to high inflation and sluggish growth in theglobaleconomy, which declined from 3.5% in 2022 to 3.2% in 2023. Like many nations, Nigeria has experienced economic shocks from beyond its shores in recent years, but there are also issues specific to the country, partly driven by the reforms introduced by President Bola Tinubu when he took office last May. How bad is the economy? This video shows the Top 20 countries with highest GDP PPP from 1800 to 2040 based on 2011 international dollars.