Debt on Non-concessional terms to GDP in Nigeria
Nigeria: Debt on Non-concessional terms to GDP was 3.3% in 2011. ◆ Volatile
Debt on Non-concessional terms to GDP in Nigeria, 1970–2011
Source: World Bank, Global Development Finance. Measured in % of GDP.
Analysis
Nigeria recorded 3.3% for debt on non-concessional terms to gdp in 2011.
Compared with earlier readings it is up 23.0% on the previous year and down 94.8% over ten years.
Over the whole period, debt on non-concessional terms to gdp in Nigeria peaked at 138.8% in 1993 and was at its lowest, 0.0%, in 1970.
Nigeria ranks 47th of 50 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Debt on Non-concessional terms to GDP in Nigeria, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1970 | 0.0% | — |
| 1971 | 8.4% | — |
| 1972 | 7.0% | -17.4% |
| 1973 | 10.1% | +44.7% |
| 1974 | 6.4% | -36.5% |
| 1975 | 4.9% | -23.1% |
| 1976 | 2.8% | -43.6% |
| 1977 | 7.8% | +179.3% |
| 1978 | 12.9% | +66.3% |
| 1979 | 12.4% | -4.2% |
| 1980 | 13.2% | +7.2% |
| 1981 | 18.5% | +39.4% |
| 1982 | 23.4% | +26.8% |
| 1983 | 49.2% | +110.3% |
| 1984 | 61.9% | +25.8% |
| 1985 | 64.4% | +4.0% |
| 1986 | 108.0% | +67.6% |
| 1987 | 121.9% | +12.9% |
| 1988 | 127.7% | +4.8% |
| 1989 | 124.5% | -2.6% |
| 1990 | 115.6% | -7.1% |
| 1991 | 119.2% | +3.1% |
| 1992 | 85.7% | -28.1% |
| 1993 | 138.8% | +61.9% |
| 1994 | 134.4% | -3.2% |
| 1995 | 116.4% | -13.4% |
| 1996 | 85.1% | -26.9% |
| 1997 | 74.9% | -12.0% |
| 1998 | 89.3% | +19.3% |
| 1999 | 79.4% | -11.1% |
| 2000 | 65.5% | -17.6% |
| 2001 | 62.3% | -4.8% |
| 2002 | 49.4% | -20.7% |
| 2003 | 28.6% | -42.1% |
| 2004 | 23.3% | -18.5% |
| 2005 | 10.3% | -56.0% |
| 2006 | 4.1% | -60.2% |
| 2007 | 3.8% | -7.7% |
| 2008 | 4.2% | +10.5% |
| 2009 | 4.1% | -2.2% |
| 2010 | 2.6% | -35.0% |
| 2011 | 3.3% | +23.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 7.3% | 0.0% | 12.9% | 10 |
| 1980s | 71.3% | 13.2% | 127.7% | 10 |
| 1990s | 103.9% | 74.9% | 138.8% | 10 |
| 2000s | 25.5% | 3.8% | 65.5% | 10 |
| 2010s | 2.9% | 2.6% | 3.3% | 2 |
Countries ranked near Nigeria
More external debt data for Nigeria
- IFC, private nonguaranteed 102.35 million NFL, US$ (2024)
- IFC, private nonguaranteed (NFL, US$), per capita 0.4399 NFL, US$ per person (2024)
- IFC, private nonguaranteed (NFL, US$), per unit of GDP 0.0004 NFL, US$ per US$ of GDP (2024)
- IFC, private nonguaranteed (NFL, US$), per square kilometre 56.33 NFL, US$ per square kilometre (2023)
- Public and publicly guaranteed debt service 1.6% (2024)
- Net financial flows, IDA 1.92 billion NFL, current US$ (2024)
- Net financial flows, IDA (NFL, current US$), per capita 8.24 NFL, current US$ per person (2024)
- Net financial flows, IDA (NFL, current US$), per unit of GDP 0.0076 NFL, current US$ per US$ of GDP (2024)
- Net financial flows, IBRD 758.21 million NFL, current US$ (2024)
- Public and publicly guaranteed debt service 6.3% (2024)
Frequently asked questions
- What is debt on non-concessional terms to gdp in Nigeria?
- Debt on non-concessional terms to gdp in Nigeria was 3.3% in 2011, according to World Bank, Global Development Finance.
- What is the highest debt on non-concessional terms to gdp recorded in Nigeria?
- The highest recorded value was 138.8% in 1993.
- What is the lowest debt on non-concessional terms to gdp recorded in Nigeria?
- The lowest recorded value was 0.0% in 1970.
- How does Nigeria rank for debt on non-concessional terms to gdp?
- Nigeria ranks 47th out of 50 countries with data for 2011.
- Is debt on non-concessional terms to gdp rising or falling in Nigeria?
- Over the last ten years it is down 94.8%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from World Bank, Global Development Finance, published as part of Debt on Non-concessional terms to GDP (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Non-concessional LDOD conveys information about the borrower's receipt of aid from official lenders on non-concessional terms as defined by the Development Assistance Committee (DAC) of the OECD. Concessional debt is defined as loans with an original grant element of 25 percent or more. The grant equivalent of a loan is its commitment (present) value, less the discounted present value of its contractual debt service; conventionally, future service payments are discounted at 10 percent. The grant element of a loan is the grant equivalent expressed as a percentage of the amount committed. It is used as a measure of the overall cost of borrowing. Loans from major regional development banks--African Development Bank, Asian Development Bank, and the Inter-American Development Bank--and from the World Bank are classified as concessional according to each institution's classification and not according to the DAC definition, as was the practice in earlier reports. Long-term debt outstanding and disbursed (LDOD) is the total outstanding long-term debt at year end. Long-term external debt is defined as debt that has an original or extended maturity of more than one year and that is owed to nonresidents and repayable in currency, goods, or services. Data are in current U.S. dollars.