Nigeria's PPG, bonds (NFL, current US$) was US$2.2 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 340% from US$500 million in 2014 (15.97% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | US$2.2 billion | 2024 |
| Ten years earlier | US$500 million | 2014 |
| Highest | US$4.87 billion | 2018 |
| Lowest | −US$1.44 billion | 2006 |
| Average since 2015 | US$1.84 billion | 2015–2024 |
| First recorded | −US$3.13 million | 1972 |
Since 1972 it is up 70,455% from −US$3.13 million in 1972. The World Bank has no value for 36 of the years in between; the chart leaves those gaps open rather than joining across them.
What the numbers say
In 2024, Nigeria's PPG, bonds (NFL, current US$) rose US$2.7 billion on 2023 (from −US$500 million to US$2.2 billion).
Across the 9 yearly changes before that (2002 to 2023), the average change was +US$379.59 million and a typical year strayed about US$2.31 billion from that (the standard deviation). This year's change was 1.0 standard deviations above 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$4.8 billion in 2017 and the biggest yearly fall was US$2.19 billion in 2023. 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 less than 1% of the movement over 9 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 10th highest value of the 59 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$2.2 billion | 2024 |
| Lower middle income | US$27.07 billion | 2024 |
Closest to Nigeria in the 2024 ranking
- Colombia — 7th of 59: US$4.06 billion
- Argentina — 8th of 59: US$3.71 billion
- Côte d'Ivoire — 9th of 59: US$2.22 billion
- Peru — 11th of 59: US$1.71 billion
- Dominican Republic — 12th of 59: US$1.45 billion
- Guatemala — 13th of 59: US$1.4 billion
What this measures
Public and publicly guaranteed debt from bonds that are either publicly issued or privately placed. Net flows (or net lending or net disbursements) received by the borrower during the year are disbursements minus principal repayments. Data are in current U.S. dollars.
Regional and income-group figures are computed by the World Bank as a sum.
All 17 values
| Year | PPG, bonds (NFL, current US$) |
|---|---|
| 2024 | 2,200,000,000 |
| 2023 | -500,000,000 |
| 2022 | 1,687,418,000 |
| 2021 | 3,500,000,000 |
| 2020 | 0 |
| 2019 | no data |
| 2018 | 4,868,352,000 |
| 2017 | 4,800,000,000 |
| 2016 | 0 |
| 2015 | 0 |
| 2014 |
PPG, bonds (NFL, current US$) in nearby economies
- Benin — US$515.57 million (2024)
- Cameroon — −US$47.1 million (2024)
- Congo, Rep. — −US$27.23 million (2024)
- Côte d'Ivoire — US$2.22 billion (2024)
- Gabon — −US$314.44 million (2024)
- Ghana — −US$165.74 million (2024)
- Kenya — −US$500 million (2024)
- Mauritius — US$1.59 million (2024)
- Rwanda — −US$19.15 million (2024)
- Senegal — US$927.41 million (2024)
- South Africa — US$6.41 billion (2024)
More economic policy & debt data for Nigeria
- Total reserves, including gold (current US$) — 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$2,369 (2025)
- GDP per capita (constant LCU) — 953,654 (2025)
- GDP (annual % growth)
Reading data like this
Questions people ask
- What is Nigeria's PPG, bonds (NFL, current US$)?
- US$2.2 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1972?
- It is up 70,455% from −US$3.13 million in 1972. The highest value was US$4.87 billion in 2018 and the lowest −US$1.44 billion in 2006.
- How does Nigeria rank?
- 10th highest of 59 economies with data for 2024.
- Is the latest change in PPG, bonds (NFL, current US$) unusual for Nigeria?
- In 2024, Nigeria's PPG, bonds (NFL, current US$) rose US$2.7 billion on 2023 (from −US$500 million to US$2.2 billion). Across the 9 yearly changes before that (2002 to 2023), the average change was +US$379.59 million and a typical year strayed about US$2.31 billion from that (the standard deviation). This year's change was 1.0 standard deviations above 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.PBND.CD, licensed CC BY 4.0. Original source: International Debt Statistics, World Bank (WB) 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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