Real Non-Oil GDP for Nigeria
NGANGDPXORPCPPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.75
Year-over-Year Change
-62.19%
Date Range
1/1/2000 - 1/1/2026
Summary
The Real Non-Oil GDP for Nigeria measures the economic output of Nigeria's non-oil sectors, providing insight into the broader health of the country's economy beyond the crucial oil industry.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Real Non-Oil GDP for Nigeria tracks the inflation-adjusted value added by all industries in the Nigerian economy excluding the oil and gas sector. This metric gives economists and policymakers a more comprehensive view of economic activity and diversification beyond the dominant petroleum exports.
Methodology
The data is calculated by the Nigerian National Bureau of Statistics based on surveys and production reports from various economic sectors.
Historical Context
Real Non-Oil GDP is used to assess Nigeria's progress in economic diversification and reducing reliance on volatile oil revenues.
Key Facts
- Nigeria's non-oil sectors account for over 90% of GDP.
- Real Non-Oil GDP growth averaged 3.4% per year from 2015-2020.
- The services sector is the largest contributor to non-oil GDP.
FAQs
Q: What does this economic trend measure?
A: The Real Non-Oil GDP for Nigeria measures the inflation-adjusted economic output of all industries in the country excluding the oil and gas sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a more comprehensive view of Nigeria's economic activity and diversification beyond the dominant petroleum industry, which is crucial for assessing the broader health of the economy.
Q: How is this data collected or calculated?
A: The data is calculated by the Nigerian National Bureau of Statistics based on surveys and production reports from various economic sectors.
Q: How is this trend used in economic policy?
A: Real Non-Oil GDP is used to assess Nigeria's progress in reducing reliance on volatile oil revenues and diversifying its economy across other industries.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, and may be subject to revisions as more complete information becomes available.
Related Trends
Number of Identified Exporters to Nigeria from Mississippi
MSNGAA475SCEN
Geographical Outreach: Number of Institutions, Other Financial Corporations for Nigeria
NGAFCIOFNUM
Value of Exports to Nigeria from Wyoming
WYNGAA052SCEN
Provisions to Non-Performing Loans for Nigeria
DDSI07NGA156NWDB
Constant GDP per capita for Nigeria
NYGDPPCAPKDNGA
Number of Identified Exporters to Nigeria from North Carolina
NCNGAA475SCEN
Citation
U.S. Federal Reserve, Real Non-Oil GDP for Nigeria (NGANGDPXORPCPPPT), retrieved from FRED.