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The African Exponent DATA

Country

🇳🇬 Nigeria

NG · NGN Nigerian naira · Compare Nigeria →

Policy rate 26.50% Monetary Policy Rate · 21 Jul 2026
Headline inflation 15.39% Aug 2026
FX premium +2.97% market vs official
Latest T-bill 16.79% 10y · 14 Sep 2026

Tier 1 · Markets

The Market Now

Series Per US$1 As of Source
Official 1,329.51 24 Sep 2026, 23:00 UTC CBN
Marketparallel 1,369.00 27 Sep 2026, 00:00 UTC Bybit P2P
Premium +2.97% — market vs official

Official rate, 10-year annual average (World Bank)

1508251,50020142017202020232025

Premium history · since Aug 2026 · our collectors

1.6%3%4.5%Aug 2026Sep 2026

Download CSV — FX history · Download CSV — official rate, annual

Tier 2 · Policy & Prices

Policy & Prices

Policy rate

Instrument Rate Effective Source
Central Bank of Nigeria Monetary Policy Rate 26.50% 21 Jul 2026 Central Bank of Nigeria

As of 21 Sep 2026, 09:30 UTC

Inflation

Series YoY Period Source
Headline 15.39% Aug 2026 Source

Food and core inflation are not on the NBS All-Items widget; they may unlock when the full CPI PDF is reachable.

As of 16 Sep 2026, 06:00 UTC

Download CSV — headline

Yield curve

DMO

91-day stop rate 16.30% 9 Sep 2026
182-day stop rate 16.50% 9 Sep 2026
364-day stop rate 16.62% 9 Sep 2026
10y marginal 16.79% 14 Sep 2026
15y marginal 16.85% 14 Sep 2026
20y marginal 17.19% 17 Aug 2026

Steep — 20y above 91-day.

Download CSV — auction history

Sovereign credit ratings

Fitch B Stable Affirmed 10 Apr 2026 As of 10 Apr 2026 Source
Moody's B3 Positive Outlook raised 28 Aug 2026 As of 28 Aug 2026 Source
S&P B Stable Upgraded 15 May 2026 As of 15 May 2026 Source

Stock market

not yet covered

NGX All Share

Tier 3 · Structure

Structure & trajectory

Annual indicators, latest available year on each card · Sources: World Bank / UN / IMF WEO Oct 2025 / V-Dem / EIA

15 of 27 indicators improving mixed

Rule: for each metric with at least two observations, direction is the sign of (latest − earliest). Child mortality, $3/day poverty, national poverty, debt service, debt-to-GDP, and the Gini index are inverted (a decline is improvement). Overall: improving if ≥60% of those metrics improved, mixed if 40–60%, worsening if <40%.

Population

237.5M · 2025

190M215M240M201520172019202120232025

↑ 51.6M since 2014

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GDP per capita (PPP)

$9,532 · 2025

$7,000$8,250$9,500201520172019202120232025

↑ $2,135 since 2014

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GDP per capita growth

1.9% · 2025

-9%0%3%201520172019202120232025

↓ 1.6 pts since 2014

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Life expectancy

54.6 years · 2024

515355201420162018202020222024

↑ 2.7 years since 2014

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Child mortality

115.6 per 1,000 · 2024

110115120201420162018202020222024

↓ 3.1 since 2014

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Internet users

41.2% · 2024

21%31%41%201420162018202020222024

↑ 20.2 pts since 2014

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Manufacturing share of GDP

8.3% · 2025

8%8.8%9.6%201520172019202120232025

↓ 1.4 pts since 2014

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Electricity access

62.5% · 2024

52%57%62%201420162018202020222024

↑ 8.3 pts since 2014

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Poverty ($3/day)

41.8% · 2022

34%38%42%201520192022

↑ 6 pts since 2015

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National poverty line

56.2% · 2022

40%48%56%20182019202020212022

↑ 16.1 pts since 2018

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Adult literacy

70.4% · 2024

58%64%70%20162018202020222024

↑ 12.2 pts since 2016

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Debt service / exports

21.9% · 2024

2.7%12.3%22%201420162018202020222024

↑ 19.2 pts since 2014

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Exports of goods and services

$62.5B · 2025

$38B$54B$70B201520172019202120232025

↓ $22B since 2014

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GDP growth

4% · 2025

-7%0%5%201520172019202120232025

↓ 2.3 pts since 2014

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GDP

$290.8B · 2025

$250B$460B$670B201520172019202120232025

↓ $283.4B since 2014

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Unemployment

3.1% · 2025

3%4.3%5.7%201520172019202120232025

↓ 0.8 pts since 2014

ILO modeled estimate — national definitions differ

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FDI inflows

$4B · 2025

$-186.8M$0$4B201520172019202120232025

↓ $688.5M since 2014

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Remittances

$22.8B · 2025

$17B$20.5B$24B201520172019202120232025

↑ $1.8B since 2014

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External debt

$108.8B · 2024

$43B$76.5B$110B201420162018202020222024

↑ $62.1B since 2014

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Agriculture share of GDP

23% · 2025

20%24.5%29%201520172019202120232025

↑ 3 pts since 2014

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Services share of GDP

58.2% · 2025

51%55.5%60%201520172019202120232025

↑ 4.1 pts since 2014

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Investment rate

not available

Terms of trade

127.10 · 2024

78.00114.00150.00201420162018202020222024

↓ 19.10 since 2014

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FX reserves

$46B · 2025

$28B$37B$46B201520172019202120232025

↑ $11B since 2014

includes gold

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Lending rate

14% · 2023

11%14.5%18%2014201820202023

↓ 2.5 pts since 2014

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Deposit rate

7.8% · 2023

4.2%7%9.7%2014201820202023

↓ 1.5 pts since 2014

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Gini index

33.90 · 2022

33.0034.5036.00201520192022

↓ 2.00 since 2015

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Health expenditure

4.2% · 2023

2.9%3.5%4.2%2014201820202023

↑ 0.8 pts since 2014

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Physicians

0.4 per 1,000 · 2023

0.350.390.43201620202023

↓ 0 since 2016

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Tertiary enrollment

not available

Tourist arrivals

5.3M · 2016

4.8M5.4M6M201420152016

↑ 462,000 since 2014

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Account ownership

63.3% · 2024

39%51%63%201420162018202020222024

↑ 18.8 pts since 2014

Findex · every 3–4 years

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Exports per capita derived

$263.31 · 2025

$180$255$330201520172019202120232025

↓ $191.71 since 2014

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Median age

17.8 years · 2023

1617182014201820202023

↑ 1.1 years since 2014

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Government revenue / GDP

10.6% · 2026

3.6%7.3%11%201620182020202220242026

↑ 2.8 pts since 2014

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Debt to GDP

32.3% · 2026

14%26.5%39%20142017202020232026

↑ 16.6 pts since 2014

Source: IMF WEO · latest 1–2 years are IMF estimates

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Gross debt (national currency)

₦171.1T · 2026

₦20.0T₦95.0T₦170.0T20142017202020232026

↑ ₦151.1T since 2014

Source: IMF WEO · latest 1–2 years are IMF estimates

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Current account / GDP

5.8% · 2026

-3%0%7%20142017202020232026

↑ 5.7 pts since 2014

Source: IMF WEO · latest 1–2 years are IMF estimates

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Budget balance / GDP

-4.4% · 2026

-4.4%-2.9%-1.3%20142017202020232026

↓ 2.7 pts since 2014

Source: IMF WEO · latest 1–2 years are IMF estimates

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Electoral democracy

0.51 · 2025

0.480.520.56201520172019202120232025

↓ 0.02 since 2014

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Crude production

1.61 million b/d · 2025

1.2 million b/d1.7 million b/d2.2 million b/d2015201920212025

↓ 741.8 kb/d since 2014

EIA · thousand barrels/day

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Minimum wage

₦70,000 / month · 2024

National Minimum Wage (Amendment) Act 2024

National monthly floor. Act exempts establishments with fewer than 25 workers and some other categories.

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Trade profile

Exports

$62.5B · 2025

$38B$61.5B$85B20142017202020232025

↓ $22B since 2014

Imports

$62.6B · 2025

$46B$73B$100B20142017202020232025

↓ $23.8B since 2014

Balance derived

−$72M · 2025

$-33B$-16.5B$-72M201420202025

↑ $1.8B since 2014

Top exports · 2025

Products

  1. Mineral fuels $48.2B · 85.9%
  2. Cocoa and cocoa preparations $2.4B · 4.2%
  3. Fertilisers $2.2B · 3.9%
  4. Ships and boats $711.2M · 1.3%
  5. Edible fruit and nuts $533.9M · 1.0%
  6. Oil seeds and oleaginous fruits $404.5M · 0.7%
  7. Pearls, precious stones and metals $230.8M · 0.4%
  8. Aluminium $225.6M · 0.4%
  9. Salt, earths, stone, cement $144.5M · 0.3%
  10. Copper $109.9M · 0.2%

Partners

  1. India $5.9B · 10.5%
  2. Spain $4.9B · 8.7%
  3. Netherlands $4.9B · 8.7%
  4. France $4B · 7.2%
  5. United States $3.2B · 5.8%
  6. Canada $2.8B · 5.1%
  7. Indonesia $2.5B · 4.5%
  8. Italy $2.5B · 4.4%
  9. Côte d'Ivoire $1.9B · 3.4%
  10. China $1.8B · 3.3%

Top imports · 2025

Products

  1. Mineral fuels $14.7B · 33.2%
  2. Machinery and mechanical appliances $5.1B · 11.5%
  3. Vehicles other than railway $3.2B · 7.3%
  4. Electrical machinery and equipment $2.7B · 6.1%
  5. Plastics $2.2B · 4.9%
  6. Cereals $1.4B · 3.2%
  7. Miscellaneous chemical products $1.3B · 2.9%
  8. Articles of iron or steel $938M · 2.1%
  9. Organic chemicals $876.3M · 2.0%
  10. Sugars and confectionery $849.3M · 1.9%

Partners

  1. China $13B · 29.4%
  2. United States $5.6B · 12.6%
  3. India $4.3B · 9.8%
  4. Netherlands $2.2B · 5.0%
  5. Belgium $2.1B · 4.7%
  6. United Arab Emirates $1.9B · 4.2%
  7. Brazil $1.4B · 3.2%
  8. United Kingdom $1.2B · 2.7%
  9. Spain $1B · 2.3%
  10. Germany $829.8M · 1.9%

2025 filings are still arriving — this page updates as each country reports

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