Nigeria's PNG, commercial banks and other creditors (NFL, current US$) was −US$1.86 billion in 2024, the latest year in the World Bank's World Development Indicators. That is down 158.39% from US$3.19 billion in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | −US$1.86 billion | 2024 |
| Five years earlier | US$2.2 billion | 2019 |
| Ten years earlier | US$3.19 billion | 2014 |
| Highest | US$3.19 billion | 2014 |
| Lowest | −US$1.86 billion | 2024 |
| Average since 2015 | US$886.1 million | 2015–2024 |
| First recorded | −US$5 million |
What the numbers say
In 2024, Nigeria's PNG, commercial banks and other creditors (NFL, current US$) fell US$1.64 billion on 2023 (from −US$218.89 million to −US$1.86 billion).
Across the 30 yearly changes before that (1994 to 2023), the average change was −US$6.96 million and a typical year strayed about US$1.23 billion from that (the standard deviation). This year's change was 1.3 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.
On record, the biggest yearly rise was US$2.58 billion in 2014 and the biggest yearly fall was US$2.75 billion in 2015. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 there is no clear straight-line trend: a straight line explains 12% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, Nigeria had the 72nd highest value of the 79 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
| Value | Year | |
|---|---|---|
| Nigeria | −US$1.86 billion | 2024 |
| Lower middle income | US$24.77 billion | 2024 |
Closest to Nigeria in the 2024 ranking
What this measures
Nonguaranteed long-term commercial bank loans from private banks and other private financial institutions. Net flows (or net lending or net disbursements) received by the borrower during the year are disbursements minus principal repayments. Data are in current U.S. dollars.
Regional and income-group figures are computed by the World Bank as a sum.
All 55 values
| Year | PNG, commercial banks and other creditors (NFL, current US$) |
|---|---|
| 2024 | -1,862,767,000 |
| 2023 | -218,885,000 |
| 2022 | 1,845,700,000 |
| 2021 | 1,213,652,000 |
| 2020 | 1,124,424,000 |
| 2019 | 2,201,430,000 |
| 2018 | 2,533,281,000 |
| 2017 | 1,800,491,000 |
| 2016 | -219,518,000 |
| 2015 | 443,232,000 |
PNG, commercial banks and other creditors (NFL, current US$) in nearby economies
- Angola — US$315.18 million (2024)
- Benin — US$504.98 million (2023)
- Burkina Faso — US$68.23 million (2024)
- Cameroon — −US$53.46 million (2024)
- Côte d'Ivoire — −US$141.21 million (2024)
- Eswatini — −US$37.85 million (2024)
- Ghana — −US$1.24 billion (2024)
- Guinea-Bissau — −US$23.6 million (2020)
- Kenya — −US$90.57 million (2024)
More economic policy & debt data for Nigeria
- Total reserves, including gold (current US$) — US$46.02 billion (2025)
- Total reserves, excluding gold (current US$) — US$43.01 billion (2025)
- GDP (current US$) — US$290.79 billion (2025)
- GDP (current LCU) — 441.54 trillion (2025)
- GDP (constant 2015 US$) — US$562.59 billion (2025)
- GDP (constant LCU) — 226.52 trillion (2025)
- GDP per capita (current US$) — US$1,224 (2025)
- GDP per capita (current LCU) — 1.86 million (2025)
- GDP per capita (constant 2015 US$) — US$2,369 (2025)
- GDP per capita (constant LCU) — 953,654 (2025)
- GDP (annual % growth)
Reading data like this
Questions people ask
- What is Nigeria's PNG, commercial banks and other creditors (NFL, current US$)?
- −US$1.86 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1970?
- It is down 37,155% from −US$5 million in 1970. The highest value was US$3.19 billion in 2014 and the lowest −US$1.86 billion in 2024.
- How does Nigeria rank?
- 72nd highest of 79 economies with data for 2024.
- Is the latest change in PNG, commercial banks and other creditors (NFL, current US$) unusual for Nigeria?
- In 2024, Nigeria's PNG, commercial banks and other creditors (NFL, current US$) fell US$1.64 billion on 2023 (from −US$218.89 million to −US$1.86 billion). Across the 30 yearly changes before that (1994 to 2023), the average change was −US$6.96 million and a typical year strayed about US$1.23 billion from that (the standard deviation). This year's change was 1.3 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.
Source
World Bank, World Development Indicators, indicator DT.NFL.PNGC.CD, licensed CC BY 4.0. Original source: International Debt Statistics, World Bank (WB), uri: https://www.worldbank.org/en/programs/debt-statistics, note: https://www.worldbank.org/en/programs/debt-statistics Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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