Total natural resources rents in Nigeria
Nigeria: Total natural resources rents was 8.6% in 2021. ◆ Volatile
Total natural resources rents in Nigeria, 1970–2021
Source: The Changing Wealth of Nations, World Bank (WB). Measured in % of GDP.
Analysis
In 2021, total natural resources rents in Nigeria stood at 8.6%.
The figure is up 68.5% on the previous year and down 51.3% over ten years.
Over the whole period, total natural resources rents in Nigeria peaked at 43.1% in 1979 and was at its lowest, 2.4%, in 1970.
Nigeria ranks 55th of 214 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Total natural resources rents in Nigeria, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1970 | 2.4% | — |
| 1971 | 2.6% | +6.3% |
| 1972 | 3.5% | +36.4% |
| 1973 | 5.1% | +46.3% |
| 1974 | 28.5% | +459.1% |
| 1975 | 20.3% | -29.0% |
| 1976 | 17.7% | -12.7% |
| 1977 | 22.8% | +29.0% |
| 1978 | 19.1% | -16.2% |
| 1979 | 43.1% | +125.6% |
| 1980 | 26.7% | -38.0% |
| 1981 | 4.6% | -82.7% |
| 1982 | 2.6% | -44.1% |
| 1983 | 5.7% | +120.9% |
| 1984 | 9.3% | +63.2% |
| 1985 | 10.5% | +12.1% |
| 1986 | 6.4% | -38.7% |
| 1987 | 11.0% | +71.8% |
| 1988 | 10.4% | -6.0% |
| 1989 | 22.9% | +120.6% |
| 1990 | 25.1% | +9.7% |
| 1991 | 17.7% | -29.4% |
| 1992 | 20.9% | +18.0% |
| 1993 | 34.3% | +64.1% |
| 1994 | 23.9% | -30.4% |
| 1995 | 21.8% | -8.6% |
| 1996 | 21.4% | -1.8% |
| 1997 | 18.7% | -12.5% |
| 1998 | 11.4% | -39.4% |
| 1999 | 13.0% | +14.8% |
| 2000 | 24.9% | +91.2% |
| 2001 | 18.1% | -27.4% |
| 2002 | 13.6% | -24.8% |
| 2003 | 15.5% | +14.0% |
| 2004 | 16.8% | +8.1% |
| 2005 | 19.4% | +15.6% |
| 2006 | 16.7% | -13.9% |
| 2007 | 15.9% | -5.0% |
| 2008 | 17.6% | +10.9% |
| 2009 | 10.7% | -39.4% |
| 2010 | 13.8% | +29.6% |
| 2011 | 17.6% | +27.2% |
| 2012 | 15.1% | -13.7% |
| 2013 | 11.6% | -23.3% |
| 2014 | 8.8% | -24.4% |
| 2015 | 4.6% | -48.1% |
| 2016 | 4.7% | +2.3% |
| 2017 | 7.8% | +67.6% |
| 2018 | 9.8% | +25.5% |
| 2019 | 8.4% | -14.8% |
| 2020 | 5.1% | -39.2% |
| 2021 | 8.6% | +68.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 16.5% | 2.4% | 43.1% | 10 |
| 1980s | 11.0% | 2.6% | 26.7% | 10 |
| 1990s | 20.8% | 11.4% | 34.3% | 10 |
| 2000s | 16.9% | 10.7% | 24.9% | 10 |
| 2010s | 10.2% | 4.6% | 17.6% | 10 |
| 2020s | 6.8% | 5.1% | 8.6% | 2 |
Countries ranked near Nigeria
- 52 Tajikistan 9.0% compare
- 53 Sierra Leone 9.0% compare
- 54 Myanmar 8.7% compare
- 56 Brazil 7.9% compare
- 57 Togo 7.9% compare
- 58 Trinidad and Tobago 7.9% compare
More energy & mining data for Nigeria
- Fossil fuel consumption by fuel, per unit of GDP 0 terawatt-hours per US$ of GDP (2024)
- Primary energy use, annual growth rate 2.96 % change on previous year (2024)
- Coal consumption, per capita 0 terawatt-hours per person (2024)
- Coal consumption, per unit of GDP 0 terawatt-hours per US$ of GDP (2024)
- Primary energy use, per unit of GDP 0 terawatt-hours per US$ of GDP (2024)
- Primary energy use, per capita 0 terawatt-hours per person (2024)
- Coal production, per capita 0 terawatt-hours per person (2024)
- Coal production, per unit of GDP 0 terawatt-hours per US$ of GDP (2024)
- Fossil fuel consumption by fuel, per capita 0 terawatt-hours per person (2024)
- Fuel imports 38.0% (2024)
Frequently asked questions
- What is total natural resources rents in Nigeria?
- Total natural resources rents in Nigeria was 8.6% in 2021, according to The Changing Wealth of Nations, World Bank (WB).
- What is the highest total natural resources rents recorded in Nigeria?
- The highest recorded value was 43.1% in 1979.
- What is the lowest total natural resources rents recorded in Nigeria?
- The lowest recorded value was 2.4% in 1970.
- How does Nigeria rank for total natural resources rents?
- Nigeria ranks 55th out of 214 countries with data for 2021.
- Is total natural resources rents rising or falling in Nigeria?
- Over the last ten years it is down 51.3%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from The Changing Wealth of Nations, World Bank (WB), published as part of Total natural resources rents (% of GDP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 52 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Total natural resources rents are the sum of oil rents, natural gas rents, coal rents (hard and soft), mineral rents, and forest rents.