Annual inflation, consumer prices in Nigeria
Nigeria: Annual inflation, consumer prices was 33.2% in 2024. ▲ Rising
Annual inflation, consumer prices in Nigeria, 2000–2024
Source: United Nations Statistics Division, SDG Global Database. Measured in %.
Analysis
In 2024, annual inflation, consumer prices in Nigeria stood at 33.2%. That is the highest value across all 25 years on record.
Compared with earlier readings it is up 34.8% on the previous year and up 313.1% over ten years.
Over the whole period, annual inflation, consumer prices in Nigeria peaked at 33.2% in 2024 and was at its lowest, 5.4%, in 2007.
Nigeria ranks 9th of 187 countries on this measure, in the top 10%.
The long-run direction has been consistently rising across the 25 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 12.3% | 5.4% | 18.9% | 10 |
| 2010s | 11.8% | 8.0% | 16.5% | 10 |
| 2020s | 21.4% | 13.2% | 33.2% | 5 |
Countries ranked near Nigeria
- 6 Türkiye 58.5% compare
- 7 State of Palestine 53.7% compare
- 8 Lebanon 45.2% compare
- 10 Iran (Islamic Republic of) 32.5% compare
- 11 Malawi 32.2% compare
- 12 Sierra Leone 28.6% compare
More development goals data for Nigeria
- Red List Index 0.9147 index (2025)
- Number of refugees per 100,000 population, by country of origin 201.98 per 100,000 people (2025)
- Manufacturing value added per capita 238.4 constant US$ (2025)
- Number of transboundary breeds 22 (2025)
- Number of transboundary breeds (not extinct) 21 (2025)
- Number of transboundary breeds with unknown risk status 21 (2025)
- Number of local breeds with unknown risk status 19 (2025)
- Number of local breeds (not extinct) 19 (2025)
- Number of local breeds kept in the country 20 (2025)
- Infant deaths 519,644 (2024)
Frequently asked questions
- What is annual inflation, consumer prices in Nigeria?
- Annual inflation, consumer prices in Nigeria was 33.2% in 2024, according to United Nations Statistics Division, SDG Global Database.
- What is the highest annual inflation, consumer prices recorded in Nigeria?
- The highest recorded value was 33.2% in 2024.
- What is the lowest annual inflation, consumer prices recorded in Nigeria?
- The lowest recorded value was 5.4% in 2007.
- How does Nigeria rank for annual inflation, consumer prices?
- Nigeria ranks 9th out of 187 countries with data for 2024.
- Is annual inflation, consumer prices rising or falling in Nigeria?
- Over the last ten years it is up 313.1%. The long-run trend across the full record is rising.
- Where does this Nigeria data come from?
- The figures come from United Nations Statistics Division, SDG Global Database, published as part of Annual inflation, consumer prices (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 25 observations, free to reuse under UN SDG Global Database (open, attribution requested).