Nonrenewable natural capital, oil in Nigeria
Nigeria: Nonrenewable natural capital, oil was 226.57 billion current US$ in 2020. ◆ Volatile
Latest (2020)
226.57 billion current US$
Change on year
down 62.7%
World rank
8th
of 86 countries
All-time high
1.42 trillion current US$
in 2011
All-time low
89.99 billion current US$
in 1998
Years of data
26
1995–2020
Nonrenewable natural capital, oil in Nigeria, 1995–2020
Source: World Bank. Measured in current US$.
Analysis
Nigeria recorded 226.57 billion current US$ for nonrenewable natural capital, oil in 2020.
Compared with earlier readings it is down 62.7% on the previous year and down 75.6% over ten years.
Over the whole period, nonrenewable natural capital, oil in Nigeria peaked at 1.42 trillion current US$ in 2011 and was at its lowest, 89.99 billion current US$, in 1998.
Nigeria ranks 8th of 86 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Nonrenewable natural capital, oil in Nigeria, year by year
| Year | current US$ | Change |
|---|---|---|
| 1995 | 129.38 billion current US$ | — |
| 1996 | 163.33 billion current US$ | +26.2% |
| 1997 | 138.36 billion current US$ | -15.3% |
| 1998 | 89.99 billion current US$ | -35.0% |
| 1999 | 137.51 billion current US$ | +52.8% |
| 2000 | 297.72 billion current US$ | +116.5% |
| 2001 | 260.56 billion current US$ | -12.5% |
| 2002 | 257.37 billion current US$ | -1.2% |
| 2003 | 334.05 billion current US$ | +29.8% |
| 2004 | 460.11 billion current US$ | +37.7% |
| 2005 | 746.82 billion current US$ | +62.3% |
| 2006 | 842.59 billion current US$ | +12.8% |
| 2007 | 898.64 billion current US$ | +6.7% |
| 2008 | 1.16 trillion current US$ | +28.9% |
| 2009 | 632.97 billion current US$ | -45.3% |
| 2010 | 927.28 billion current US$ | +46.5% |
| 2011 | 1.42 trillion current US$ | +52.8% |
| 2012 | 1.40 trillion current US$ | -1.0% |
| 2013 | 1.19 trillion current US$ | -15.4% |
| 2014 | 1.05 trillion current US$ | -11.8% |
| 2015 | 430.84 billion current US$ | -58.8% |
| 2016 | 262.64 billion current US$ | -39.0% |
| 2017 | 380.08 billion current US$ | +44.7% |
| 2018 | 582.42 billion current US$ | +53.2% |
| 2019 | 606.62 billion current US$ | +4.2% |
| 2020 | 226.57 billion current US$ | -62.7% |
Nigeria compared with similar countries
- Nigeria's 226.57 billion current US$ is above the median for lower middle income countries, which is 378.99 million current US$, 597.8× the median. (17 countries reporting)
- Nigeria's 226.57 billion current US$ is above the median for Sub-Saharan Africa, which is 13.84 million current US$, 16370.0× the median. (15 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 131.71 billion current US$ | 89.99 billion current US$ | 163.33 billion current US$ | 5 |
| 2000s | 588.88 billion current US$ | 257.37 billion current US$ | 1.16 trillion current US$ | 10 |
| 2010s | 824.42 billion current US$ | 262.64 billion current US$ | 1.42 trillion current US$ | 10 |
| 2020s | 226.57 billion current US$ | 226.57 billion current US$ | 226.57 billion current US$ | 1 |
Countries ranked near Nigeria
More reference data data for Nigeria
- Emission Totals - Indirect emissions (N2O) - Manure applied to Soils 1.77 (2050)
- Emission Totals - Indirect emissions (N2O) - Manure left on Pasture 19.51 (2050)
- Emission Totals - Indirect emissions (N2O) - IPCC Agriculture 27 (2050)
- Emission Totals - Indirect emissions (N2O) - Crop Residues 2.62 (2050)
- Emission Totals - Indirect emissions (N2O) - Agricultural Soils 27 (2050)
- Emission Totals - Emissions (N2O) - Manure applied to Soils 5.94 (2050)
- Emission Totals - Emissions (N2O) - Manure Management 5.8 (2050)
- Emission Totals - Emissions (N2O) - Manure left on Pasture 81.9 (2050)
- Emission Totals - Emissions (N2O) - IPCC Agriculture 121.16 (2050)
- Emission Totals - Emissions (N2O) - Crop Residues 14.27 (2050)
Frequently asked questions
- What is nonrenewable natural capital, oil in Nigeria?
- Nonrenewable natural capital, oil in Nigeria was 226.57 billion current US$ in 2020, according to the World Bank.
- What is the highest nonrenewable natural capital, oil recorded in Nigeria?
- The highest recorded value was 1.42 trillion current US$ in 2011.
- What is the lowest nonrenewable natural capital, oil recorded in Nigeria?
- The lowest recorded value was 89.99 billion current US$ in 1998.
- How does Nigeria rank for nonrenewable natural capital, oil?
- Nigeria ranks 8th out of 86 countries with data for 2020.
- Is nonrenewable natural capital, oil rising or falling in Nigeria?
- Over the last ten years it is down 75.6%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from the World Bank, published as part of Nonrenewable natural capital, oil (current US$). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 26 observations, free to reuse under CC BY 4.0 (World Bank Open Data).