Oil reserves, per unit of GDP in Nigeria
Nigeria: Oil reserves, per unit of GDP was 0.0096 cubic meters per US$ of GDP in 2021. ◆ Volatile
Oil reserves, per unit of GDP in Nigeria, 1980–2021
Source: Statizoid (derived). Measured in cubic meters per US$ of GDP.
Analysis
In 2021, oil reserves, per unit of gdp in Nigeria stood at 0.0096 cubic meters per US$ of GDP.
Compared with earlier readings it is down 2.0% on the previous year and down 32.5% over ten years.
Over the whole period, oil reserves, per unit of gdp in Nigeria peaked at 0.0605 cubic meters per US$ of GDP in 1999 and was at its lowest, 0.0086 cubic meters per US$ of GDP, in 2019.
Nigeria ranks 25th of 198 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Oil reserves, per unit of GDP in Nigeria, year by year
| Year | cubic meters per US$ of GDP | Change |
|---|---|---|
| 1980 | 0.0431 cubic meters per US$ of GDP | — |
| 1981 | 0.0161 cubic meters per US$ of GDP | -62.5% |
| 1982 | 0.0184 cubic meters per US$ of GDP | +13.8% |
| 1983 | 0.0274 cubic meters per US$ of GDP | +49.3% |
| 1984 | 0.0358 cubic meters per US$ of GDP | +30.6% |
| 1985 | 0.0359 cubic meters per US$ of GDP | +0.2% |
| 1986 | 0.0482 cubic meters per US$ of GDP | +34.2% |
| 1987 | 0.0483 cubic meters per US$ of GDP | +0.3% |
| 1988 | 0.0512 cubic meters per US$ of GDP | +6.0% |
| 1989 | 0.0578 cubic meters per US$ of GDP | +13.0% |
| 1990 | 0.0471 cubic meters per US$ of GDP | -18.6% |
| 1991 | 0.0457 cubic meters per US$ of GDP | -3.0% |
| 1992 | 0.0547 cubic meters per US$ of GDP | +19.7% |
| 1993 | 0.0502 cubic meters per US$ of GDP | -8.2% |
| 1994 | 0.0354 cubic meters per US$ of GDP | -29.5% |
| 1995 | 0.0202 cubic meters per US$ of GDP | -42.9% |
| 1996 | 0.0178 cubic meters per US$ of GDP | -11.7% |
| 1997 | 0.0123 cubic meters per US$ of GDP | -31.1% |
| 1998 | 0.0122 cubic meters per US$ of GDP | -0.5% |
| 1999 | 0.0605 cubic meters per US$ of GDP | +395.0% |
| 2000 | 0.0517 cubic meters per US$ of GDP | -14.5% |
| 2001 | 0.0486 cubic meters per US$ of GDP | -6.0% |
| 2002 | 0.0401 cubic meters per US$ of GDP | -17.5% |
| 2003 | 0.0364 cubic meters per US$ of GDP | -9.2% |
| 2004 | 0.0293 cubic meters per US$ of GDP | -19.6% |
| 2005 | 0.0319 cubic meters per US$ of GDP | +9.0% |
| 2006 | 0.0239 cubic meters per US$ of GDP | -25.0% |
| 2007 | 0.0207 cubic meters per US$ of GDP | -13.5% |
| 2008 | 0.017 cubic meters per US$ of GDP | -18.0% |
| 2009 | 0.0195 cubic meters per US$ of GDP | +15.1% |
| 2010 | 0.0161 cubic meters per US$ of GDP | -17.4% |
| 2011 | 0.0143 cubic meters per US$ of GDP | -11.5% |
| 2012 | 0.0127 cubic meters per US$ of GDP | -10.7% |
| 2013 | 0.0114 cubic meters per US$ of GDP | -10.8% |
| 2014 | 0.0103 cubic meters per US$ of GDP | -9.6% |
| 2015 | 0.012 cubic meters per US$ of GDP | +16.2% |
| 2016 | 0.0146 cubic meters per US$ of GDP | +21.8% |
| 2017 | 0.0157 cubic meters per US$ of GDP | +7.7% |
| 2018 | 0.0141 cubic meters per US$ of GDP | -10.0% |
| 2019 | 0.0086 cubic meters per US$ of GDP | -39.0% |
| 2020 | 0.0098 cubic meters per US$ of GDP | +14.1% |
| 2021 | 0.0096 cubic meters per US$ of GDP | -2.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 0.0382 cubic meters per US$ of GDP | 0.0161 cubic meters per US$ of GDP | 0.0578 cubic meters per US$ of GDP | 10 |
| 1990s | 0.0356 cubic meters per US$ of GDP | 0.0122 cubic meters per US$ of GDP | 0.0605 cubic meters per US$ of GDP | 10 |
| 2000s | 0.0319 cubic meters per US$ of GDP | 0.017 cubic meters per US$ of GDP | 0.0517 cubic meters per US$ of GDP | 10 |
| 2010s | 0.013 cubic meters per US$ of GDP | 0.0086 cubic meters per US$ of GDP | 0.0161 cubic meters per US$ of GDP | 10 |
| 2020s | 0.0097 cubic meters per US$ of GDP | 0.0096 cubic meters per US$ of GDP | 0.0098 cubic meters per US$ of GDP | 2 |
Countries ranked near Nigeria
- 22 Algeria 0.0104 cubic meters per US$ of GDP compare
- 23 Uganda 0.0098 cubic meters per US$ of GDP compare
- 24 Oman 0.0098 cubic meters per US$ of GDP compare
- 26 Russia 0.007 cubic meters per US$ of GDP compare
- 27 Suriname 0.0046 cubic meters per US$ of GDP compare
- 28 Turkmenistan 0.0036 cubic meters per US$ of GDP compare
More energy & mining data for Nigeria
- Fuel imports 38.0% (2024)
- Ores and metals imports 1.1% (2024)
- Ores and metals exports 1.2% (2024)
- Gas production 507.74 terawatt-hours (2025)
- Fossil fuel production per person, by fuel 2,138 kilowatt-hours per person (2025)
- Fossil fuel production by fuel 507.74 terawatt-hours (2025)
- Gas production per person 2,138 kilowatt-hours per person (2025)
- Fossil fuel production by fuel, per capita 0 terawatt-hours per person (2025)
- Fossil fuel production by fuel, per unit of GDP 0 terawatt-hours per US$ of GDP (2025)
- Gas production, per capita 0 terawatt-hours per person (2025)
Frequently asked questions
- What is oil reserves, per unit of gdp in Nigeria?
- Oil reserves, per unit of gdp in Nigeria was 0.0096 cubic meters per US$ of GDP in 2021, according to Statizoid (derived).
- What is the highest oil reserves, per unit of gdp recorded in Nigeria?
- The highest recorded value was 0.0605 cubic meters per US$ of GDP in 1999.
- What is the lowest oil reserves, per unit of gdp recorded in Nigeria?
- The lowest recorded value was 0.0086 cubic meters per US$ of GDP in 2019.
- How does Nigeria rank for oil reserves, per unit of gdp?
- Nigeria ranks 25th out of 198 countries with data for 2021.
- Is oil reserves, per unit of gdp rising or falling in Nigeria?
- Over the last ten years it is down 32.5%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from Statizoid (derived), published as part of Oil reserves, per unit of GDP. Statizoid updates them automatically from the source API.
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How this figure is calculated
Oil reserves divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.
Oil reserves ÷ GDP (current US$)
Computed from
- Oil reserves U.S. Energy Information Administration (2022) – with major processing by Our World in Data
- GDP Country official statistics, National Statistical Organizations and/or Central Banks
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
Oil reserves divided by GDP (current US$), matched on country and year. Neither publisher issues this ratio as a series; it is computed here from both.