GDP. You have clicked on a link to a page that is not part of the beta version of the new worldbank.org. HCI and GDP Per Capita PPP (log scale, horizontal axis) Productivity relative to benchmark of complete education and full health. The economy of Nigeria shrank 6.1% yoy in the second quarter of 2020 compared to a 1.9% growth in the prior period. Missing data, out of date base years, disputed population data and the size of the unrecorded informal economy means that international rankings of countries in terms of GDP and GDP per capita are meaningless.The quality of economic data across Asia-Pacific region varies considerably across countries, mainly as a result of lack of statistical capacity.The use of different national income standards across Europe has an impact on cross-country comparability and in some cases leads to an underestimation of GDP. DataBank Microdata Data Catalog. 'Changes nothing' It was the first contraction since the Q1 of 2017 and the steepest since the Q1 of 2004, amid still-subdued oil prices and lower levels of global economic activity resulting from nationwide shutdown efforts aimed at containing the Covid-19 pandemic. This page in: English; Español; Français; العربية ; 中文; GDP per capita (current US$) Nigeria. GDP. Though the GDP rose to $568.5 billion in 2014, it fell to $494.6 billion in 2015, went down to $404.6 billion in 2016 with further depreciation to $375.7 billion in 2017 and $397.3 billion in 2018. Close. Will you take two minutes to complete a brief survey that will help us to improve our website? The Nigeria Government said the country’s Gross Domestic Produce (GDP) now stands at $440 billion.Though the GDP rose to $568.5 billion in 2014, it fell to $494.6 billion in 2015, went down to $404.6 billion in 2016 with further depreciation to $375.7 billion in 2017 and $397.3 billion in 2018.Speaking at the official handing over ceremony of a Steel Plant Assets owned by the Standard Metallurgical Company, SMC in Sagamu, Ogun State to KAM Steel Integrated Company, a subsidiary of KAM Holding acquired with N60billion, Minister for Mines and Steel Development, Olamilekan Adegbite, stated that the GDP stands at $440billion as one of the fastest growing in Africa.Decrying the level of growth of steel industry in the country despite boasting of over 30 steel manufacturers, he stated that the country could only produce 2.2million tons yearly.Represented by the Senior Special Assistant (Technical), Olu Adedayo, said: “The decline in GDP as a result of the fluctuating oil prices compelled the present Administration of President Muhammadu Buhari to commit itself to the diversification of Nigeria economy, thereby prioritizing the development of the minerals and metal and agricultural sectors. The Nigeria Government said the country’s Gross Domestic Product (GDP) now stands at $440 billion.Speaking at the official handing over ceremony of a Steel Plant Assets owned by the Standard Metallurgical Company, SMC in Sagamu, Ogun State to KAM Steel Integrated Company, a subsidiary of KAM Holding acquired with N60billion, Minister for Mines and Steel Development, Olamilekan Adegbite, stated that the GDP stands at $440billion as one of the fastest growing in Africa.Decrying the level of growth of steel industry in the country despite boasting of over 30 steel manufacturers, he stated that the country could only produce 2.2million tons yearly.Represented by the Senior Special Assistant (Technical), Olu Adedayo, said: “The decline in GDP as a result of the fluctuating oil prices compelled the present Administration of President Muhammadu Buhari to commit itself to the diversification of Nigeria economy, thereby prioritizing the development of the minerals and metal and agricultural sectors.“The Management of the Ministry has been working assiduously towards the enactment of the Nigeria Metallurgical Industry Bill in order to have an enabling law for effective regulation of the Metal Sector in Nigeria. While the South of Nigeria has relatively low poverty rates, ranging from 16% in the South West to 28.8% in the South East, poverty rates in the North West and North East are 45.9% and 50.2%, respectively. “Today, KAM Steel has acquired the steel plant formerly owned by SMC and we believe that with this milestone, our capacities would increase tremendously and will reposition Nigeria as a self-sufficient nation and we hope that the Federal Government shall continue to provide the enabling environment and support for continuing the actualization of the vision of the highly committed Nigerian behind this project.” The World Bank Group works in every major area of development. The Nigeria Government said the country’s Gross Domestic Product (GDP) now stands at $440 billion. The GDP value of Nigeria represents 0.37 percent of the world economy.