Nonrenewable natural capital, oil in Nigeria
Nigeria: Nonrenewable natural capital, oil was 606.62 billion real chained 2019 US$ in 2020. ▲ Rising
Nonrenewable natural capital, oil in Nigeria, 1995–2020
Source: World Bank. 2021. The Changing Wealth of Nations 2021: Managing Assets for the Future. Washington, DC: World Bank. doi:10.1596/978-1-4648-1590-4. Measured in real chained 2019 US$.
Analysis
In 2020, nonrenewable natural capital, oil in Nigeria stood at 606.62 billion real chained 2019 US$.
The figure is down 0.8% over ten years.
Over the whole period, nonrenewable natural capital, oil in Nigeria peaked at 615.88 billion real chained 2019 US$ in 2016 and was at its lowest, 342.50 billion real chained 2019 US$, in 1995.
That places Nigeria 6th out of 145 countries with data for 2020, putting it in the top 10%.
The long-run direction has been consistently rising across the 26 years of available data.
Nonrenewable natural capital, oil in Nigeria, year by year
| Year | real chained 2019 US$ | Change |
|---|---|---|
| 1995 | 342.50 billion real chained 2019 US$ | — |
| 1996 | 342.50 billion real chained 2019 US$ | +0.0% |
| 1997 | 342.50 billion real chained 2019 US$ | +0.0% |
| 1998 | 369.99 billion real chained 2019 US$ | +8.0% |
| 1999 | 476.88 billion real chained 2019 US$ | +28.9% |
| 2000 | 476.88 billion real chained 2019 US$ | +0.0% |
| 2001 | 518.08 billion real chained 2019 US$ | +8.6% |
| 2002 | 564.83 billion real chained 2019 US$ | +9.0% |
| 2003 | 579.73 billion real chained 2019 US$ | +2.6% |
| 2004 | 589.94 billion real chained 2019 US$ | +1.8% |
| 2005 | 595.60 billion real chained 2019 US$ | +1.0% |
| 2006 | 611.72 billion real chained 2019 US$ | +2.7% |
| 2007 | 611.72 billion real chained 2019 US$ | +0.0% |
| 2008 | 611.72 billion real chained 2019 US$ | +0.0% |
| 2009 | 611.72 billion real chained 2019 US$ | +0.0% |
| 2010 | 611.72 billion real chained 2019 US$ | +0.0% |
| 2011 | 596.04 billion real chained 2019 US$ | -2.6% |
| 2012 | 610.71 billion real chained 2019 US$ | +2.5% |
| 2013 | 609.59 billion real chained 2019 US$ | -0.2% |
| 2014 | 615.79 billion real chained 2019 US$ | +1.0% |
| 2015 | 609.45 billion real chained 2019 US$ | -1.0% |
| 2016 | 615.88 billion real chained 2019 US$ | +1.1% |
| 2017 | 615.88 billion real chained 2019 US$ | +0.0% |
| 2018 | 607.97 billion real chained 2019 US$ | -1.3% |
| 2019 | 606.62 billion real chained 2019 US$ | -0.2% |
| 2020 | 606.62 billion real chained 2019 US$ | +0.0% |
Biggest year-on-year movements
Years where Nonrenewable natural capital, oil in Nigeria changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1999 | +28.9% | 369.99 billion real chained 2019 US$ | 476.88 billion real chained 2019 US$ |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 374.87 billion real chained 2019 US$ | 342.50 billion real chained 2019 US$ | 476.88 billion real chained 2019 US$ | 5 |
| 2000s | 577.19 billion real chained 2019 US$ | 476.88 billion real chained 2019 US$ | 611.72 billion real chained 2019 US$ | 10 |
| 2010s | 609.96 billion real chained 2019 US$ | 596.04 billion real chained 2019 US$ | 615.88 billion real chained 2019 US$ | 10 |
| 2020s | 606.62 billion real chained 2019 US$ | 606.62 billion real chained 2019 US$ | 606.62 billion real chained 2019 US$ | 1 |
Countries ranked near Nigeria
- 3 Iran 1.40 trillion real chained 2019 US$ compare
- 4 United States 1.23 trillion real chained 2019 US$ compare
- 5 Russia 829.83 billion real chained 2019 US$ compare
- 7 China 591.02 billion real chained 2019 US$ compare
- 8 Qatar 551.90 billion real chained 2019 US$ compare
- 9 Canada 402.51 billion real chained 2019 US$ compare
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 606.62 billion real chained 2019 US$ in 2020, according to World Bank. 2021. The Changing Wealth of Nations 2021: Managing Assets for the Future. Washington, DC: World Bank. doi:10.1596/978-1-4648-1590-4.
- What is the highest nonrenewable natural capital, oil recorded in Nigeria?
- The highest recorded value was 615.88 billion real chained 2019 US$ in 2016.
- What is the lowest nonrenewable natural capital, oil recorded in Nigeria?
- The lowest recorded value was 342.50 billion real chained 2019 US$ in 1995.
- How does Nigeria rank for nonrenewable natural capital, oil?
- Nigeria ranks 6th out of 145 countries with data for 2020.
- Is nonrenewable natural capital, oil rising or falling in Nigeria?
- Over the last ten years it is down 0.8%. The long-run trend across the full record is rising.
- Where does this Nigeria data come from?
- The figures come from World Bank. 2021. The Changing Wealth of Nations 2021: Managing Assets for the Future. Washington, DC: World Bank. doi:10.1596/978-1-4648-1590-4, published as part of Nonrenewable natural capital, oil (real chained 2019 US$). Statizoid updates them automatically from the source API.
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CSV · JSON — 26 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Natural capital includes the valuation of renewable and nonrenewable natural capital. Renewable natural capital includes agricultural land (cropland and pastureland), forests (timber, and three ecosystem services: water, recretion and non-wood forest products), protected areas, mangroves and fisheries. Nonrenewable natural capital includes fossil fuel energy (oil, gas, hard and soft coal) and minerals (bauxite, copper, gold, iron ore, lead, nickel, phosphate, silver, tin, and zinc),Values are measured at market exchange rates in constant 2018 US dollars, using a country-specific GDP deflator.