Lower middle income vs Nigeria: Oil rents
Lower middle income
1.6%
in 2021
Nigeria
6.2%
in 2021
Lower middle income rank
26th
Nigeria rank
25th
Oil rents over time
- Lower middle income
- Nigeria
How they compare
Nigeria currently reports 6.2% against 1.6% in Lower middle income, a difference of 4.6%.
That makes Nigeria's figure about 4.0 times Lower middle income's.
The two have swapped places 4 times across 52 shared years of data; in 1970 it was Nigeria ahead.
Lower middle income ranks 26th and Nigeria ranks 25th of 47 groups.
Nigeria has averaged higher in every one of the 6 decades both report.
Head to head by decade
| Decade | Lower middle income | Nigeria | Difference | Ahead |
|---|---|---|---|---|
| 1970s | 4.7% | 14.5% | 9.8% | Nigeria |
| 1980s | 5.1% | 9.3% | 4.2% | Nigeria |
| 1990s | 4.6% | 16.6% | 12.0% | Nigeria |
| 2000s | 5.2% | 14.6% | 9.4% | Nigeria |
| 2010s | 3.1% | 8.3% | 5.1% | Nigeria |
| 2020s | 1.2% | 4.8% | 3.6% | Nigeria |
Averages of every year both report within each decade.
Frequently asked questions
- Which has higher oil rents, Lower middle income or Nigeria?
- Nigeria, at 6.2% against 1.6% in Lower middle income as of 2021.
- What is the difference in oil rents between Lower middle income and Nigeria?
- 4.6%, with Nigeria ahead.
- How many years of comparable data are there for Lower middle income and Nigeria?
- 52 years are reported by both, from 1970 to 2021.
- How do Lower middle income and Nigeria rank globally for oil rents?
- Lower middle income ranks 26th and Nigeria ranks 25th of 47 groups.
- Where does this data come from?
- The Changing Wealth of Nations, World Bank (WB), published as Oil rents (% of GDP). Statizoid refreshes it automatically from the source and publishes the full history for both places.
Individual pages
About this data
Oil rents are the difference between the value of crude oil production at regional prices and total costs of production.