Nigeria: PPG, commercial banks (NFL, current US$)

Key figures

Since 1970 it is up 44,218% from US$3 million in 1970 (11.95% a year on average, compounded). The World Bank has no value for 21 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, commercial banks (NFL, current US$) rose US$1.81 billion on 2023 (from −US$480.73 million to US$1.33 billion).

Across the 30 yearly changes before that (1971 to 2023), the average change was −US$94.26 million and a typical year strayed about US$655.45 million from that (the standard deviation). This year's change was 2.9 standard deviations above that average, so it was unusually large compared with the rest of the record.

On record, the biggest yearly rise was US$1.81 billion in 2024 and the biggest yearly fall was US$2.79 billion in 2021. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

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 6th highest value of the 87 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.

Closest to Nigeria in the 2024 ranking

• Indonesia — 3rd of 87: US$3.9 billion
• Senegal — 4th of 87: US$2.12 billion
• Serbia — 5th of 87: US$1.65 billion
• El Salvador — 7th of 87: US$988.56 million
• Ecuador — 8th of 87: US$944.87 million
• Mexico — 9th of 87: US$926.62 million

What this measures

Public and publicly guaranteed 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 34 values

PPG, commercial banks (NFL, current US$) in nearby economies

• Angola — −US$1.26 billion (2024)
• Benin — US$461.66 million (2024)
• Burkina Faso — US$62.99 million (2024)
• Cabo Verde — −US$22.14 million (2024)
• Cameroon — US$501.29 million (2024)
• Congo, Dem. Rep. — −US$3.85 million (2024)
• Congo, Rep. — US$0 (2024)
• Côte d'Ivoire — US$375.4 million (2024)
• Eswatini — US$0 (2024)
• Ethiopia — US$8.86 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

• Where to find free public data, and how to check it before you trust it — 2 min read
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• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Nigeria's PPG, commercial banks (NFL, current US$)?

US$1.33 billion in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1970?

It is up 44,218% from US$3 million in 1970 (11.95% a year on average, compounded). The highest value was US$2.28 billion in 2020 and the lowest −US$1.12 billion in 1985.

How does Nigeria rank?

6th highest of 87 economies with data for 2024.

Is the latest change in PPG, commercial banks (NFL, current US$) unusual for Nigeria?

In 2024, Nigeria's PPG, commercial banks (NFL, current US$) rose US$1.81 billion on 2023 (from −US$480.73 million to US$1.33 billion). Across the 30 yearly changes before that (1971 to 2023), the average change was −US$94.26 million and a typical year strayed about US$655.45 million from that (the standard deviation). This year's change was 2.9 standard deviations above that average, so it was unusually large compared with the rest of the record.

Source

World Bank, World Development Indicators, indicator DT.NFL.PCBK.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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