Inflation and gdpgrowth in Nigeria, 2015–2021, Source: National Bureau of Statistics. In 2016, the black-market exchange rate of the Naira was about 60% above the official rate. The central bank releases about $200 million each week at the official exchange rate. Recent macroeconomic and financial developments economicgrowth in Nigeria slowed from 3.3% in 2022 to 2.9% in 2023 due to high inflation and sluggish growth in the global economy, which declined from 3.5% in 2022 to 3.2% in 2023. Nigeria’sGrossDomesticProduct (GDP), which measures the total value of goods and services produced in the country, grew by 4.23% in Q2, 2025. While Nigeria’s poor economicgrowth has been due to a plethora of reasons, including both domestic and external, an underlying issue that has limited long-run economicgrowth is the inadequate education of its citizens. Nigeria recorded a strong economic showing resulting in the attainment of a GDP of 5.01% in the second quarter of 2021. The country's finance minister, Zainab Ahmed, says the results would have been better if not for security challenges. Overall, Nigeria’seconomy grew 2.27% in 2019, slightly higher than it did in the preceding year. And, as is often the case, Nigeria’seconomicgrowth was anchored on its oil exports with production levels remaining stable throughout 2019. Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development ( OECD ); Staff estimates, World Bank ( WB ). License : CC BY-4.0. This list contains projected GDP (Nominal and PPP) of top 50 Countries/Economies in current prices of year by IMF alongside their world rank, % share in world economy, gdpgrowth rate and gdp per capita.