Nigeria statistics — population, economy, trade and telecom
Nigeria sits at the centre of African economic analysis in 2026. As the continent’s most populous nation and, by most measures, its largest economy, shifts in Nigerian data reverberate across West Africa and beyond. With ongoing structural reforms, a currency that has undergone significant adjustment, and a demographic trajectory that will shape continental labour markets for decades, tracking Nigeria’s core statistics is essential for investors, policymakers, and researchers working across the African continent.
Population and demographics
Nigeria’s population is estimated at approximately 230 million people as of 2025, according to UN Population Division projections, cementing its position as Africa’s most populous country and the seventh most populous in the world. The annual population growth rate sits at roughly 2.4 to 2.5 percent, one of the higher rates among large economies globally, meaning Nigeria adds the equivalent of a mid-sized African nation to its population every few years. The median age is approximately 18 years, reflecting an extraordinarily young population structure that presents both a long-run demographic dividend and an immediate pressure on education, employment, and public services. Urbanisation is advancing steadily: World Bank estimates put the urban population share at around 54 to 55 percent, with Lagos functioning as one of Africa’s two or three largest metropolitan areas, hosting a population that industry reports suggest may exceed 15 million in the city proper and considerably more across the greater metropolitan zone. Secondary cities including Kano, Ibadan, Abuja, and Port Harcourt are also growing rapidly.
Economic indicators
Nigeria’s nominal GDP is estimated by the IMF at roughly 250 to 280 billion US dollars for 2024, a figure that reflects the significant depreciation of the naira following the unification of exchange rate windows initiated in mid-2023 under President Tinubu’s administration. In purchasing power parity terms, the economy is considerably larger — IMF figures place it closer to 1.1 to 1.3 trillion international dollars, which keeps Nigeria among Africa’s top three economies by PPP. GDP per capita in nominal terms has fallen to approximately 1,100 to 1,300 US dollars, a decline driven primarily by currency adjustment rather than a contraction in real output. Real GDP growth for 2024 is estimated at around 3.0 to 3.4 percent, with the IMF projecting modest acceleration into 2025 and 2026 as reforms take hold. Inflation has been a persistent challenge: headline inflation reached above 30 percent in 2024 before monetary tightening by the Central Bank of Nigeria began to exert downward pressure. Unemployment, measured by Nigeria’s National Bureau of Statistics using a revised methodology, has been reported at figures ranging from roughly 5 percent on the narrow definition to significantly higher when underemployment is incorporated. The naira trades at several hundred to the US dollar following liberalisation. Nigeria’s public debt-to-GDP ratio is estimated at approximately 45 to 50 percent of GDP, manageable in ratio terms but costly in debt-service terms given high domestic interest rates.
Trade and external accounts
Crude oil and petroleum products remain Nigeria’s dominant export, accounting for roughly 80 to 90 percent of export earnings in most recent years, though the share fluctuates with global oil prices and domestic production volumes. Nigeria’s oil output has been constrained by pipeline vandalism, theft, and underinvestment, with production hovering in the range of 1.3 to 1.5 million barrels per day through much of 2024 — below the OPEC quota and well beneath the country’s potential. Non-oil exports include liquefied natural gas, cocoa, sesame seeds, and cashews, though their combined share remains modest. On the import side, Nigeria brings in refined petroleum products (a structural anomaly given its crude reserves), machinery, vehicles, chemicals, and food commodities. Top trading partners include India, Spain, France, the Netherlands, and China on the export side, while China, the United States, and European Union member states dominate imports. The current account has oscillated between modest surplus and deficit depending on oil prices; the naira depreciation has improved the trade balance in local currency terms while compressing import volumes.
Key sectors
Agriculture contributes approximately 22 to 25 percent of GDP and employs the largest share of the workforce, with smallholder farming dominant across crops including cassava, yam, maize, sorghum, and rice. Nigeria is among the world’s largest producers of cassava. The sector remains largely rain-fed and productivity is constrained by limited mechanisation, poor rural infrastructure, and insecurity in farming zones. The oil and gas sector, while contributing a smaller share of GDP than agriculture, drives the overwhelming majority of government revenue and foreign exchange earnings, making its performance central to macroeconomic stability. The services sector — including finance, retail, real estate, and the creative industries — accounts for roughly 50 to 55 percent of GDP and has been the primary engine of non-oil growth. Nigeria’s film industry, Nollywood, is among the world’s largest by volume of output and is a growing cultural export. Manufacturing remains underdeveloped relative to the economy’s size, constrained by unreliable electricity, high logistics costs, and import competition.
Telecommunications and digital
Nigeria’s telecommunications sector is one of Africa’s largest and most dynamic. The Nigerian Communications Commission reports active mobile subscriptions in the range of 220 to 230 million, though unique subscriber penetration — accounting for individuals holding multiple SIMs — is estimated by GSMA at approximately 50 to 55 percent of the population. Internet penetration has grown substantially, with roughly 35 to 45 percent of Nigerians estimated to have active internet access, the majority via mobile broadband. The dominant mobile network operators are MTN Nigeria, Airtel Nigeria, Glo (Globacom), and 9mobile, with MTN and Airtel holding the largest market shares. The fintech and mobile money ecosystem is among Africa’s most vibrant: platforms including OPay, PalmPay, Moniepoint, and the bank-led USSD transfer infrastructure have driven rapid growth in digital financial services. Nigeria’s startup ecosystem attracted significant venture capital through the early 2020s, and Lagos remains one of the continent’s leading technology hubs, alongside Nairobi and Cairo.
Sources and methodology
The statistics and estimates presented in this dashboard draw on data published by the World Bank (World Development Indicators and Africa’s Pulse reports), the International Monetary Fund (World Economic Outlook and Article IV consultation reports for Nigeria), the United Nations Population Division, the Nigerian National Bureau of Statistics (NBS), the Central Bank of Nigeria (CBN), the Nigerian Communications Commission (NCC), the GSMA Intelligence database, the African Union Commission, and the International Telecommunication Union (ITU). Where precise figures were unavailable or subject to revision, ranges and qualified language (“approximately”, “roughly”, “estimates suggest”) have been used in preference to false precision. Population figures reflect 2025 projections; economic data primarily references 2024 outturns and 2025 IMF projections. Exchange-rate-sensitive figures such as nominal GDP and GDP per capita are particularly subject to revision and should be treated as indicative. Readers requiring exact current figures are encouraged to consult the primary sources directly. This dashboard will be updated as new data becomes available.
For deeper qualitative analysis of Nigeria’s political economy, investment climate, and policy trajectory, visit the Nigeria expert briefing. To compare Nigeria’s indicators with those of other African nations, explore all African country statistics. For broader context on growth, trade, and structural transformation across the continent, see the African economy pillar.
