Nigeria: Oil rents (% of GDP)
In , Nigeria's Oil rents (% of GDP) was 6.25.
That's up 88.6% from 2020, the highest value since .
The global average for this indicator in 2021 was 2.59 . Nigeria ranks #22 globally out of 190 reporting countries. Within Sub-Saharan Africa, it ranks #6 of 46.
Source: World Bank Open Data (NY.GDP.PETR.RT.ZS) • Data as of 2021
Trend (2002–2021)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
Highlights
- Peak
- 17.70
- Trough
- 2.68
- 1-year change
- +88.6%
- 5-year change
- +132.7%
- +18.4% / yr
- 10-year change
- -59.7%
- -8.7% / yr
Historical Data — Last 10 Years
| Year | Oil rents (% of GDP) |
|---|---|
| 6.2468 | |
| 3.3124 | |
| 6.5148 | |
| 7.6907 | |
| 5.4726 | |
| 2.6843 | |
| 2.7835 | |
| 7.0739 | |
| 9.8801 | |
| 13.0905 |
About Oil rents (% of GDP)
Oil rents are the difference between the value of crude oil production at regional prices and total costs of production.
Indicator code: NY.GDP.PETR.RT.ZS • Category: Economy
Frequently asked questions
- What was Nigeria's Oil rents (% of GDP) in 2021?
- In 2021, Nigeria's Oil rents (% of GDP) was 6.25, according to World Bank Open Data.
- Is Nigeria's Oil rents (% of GDP) rising or falling?
- Nigeria's Oil rents (% of GDP) rose 88.6% from 2020 to 2021.
- How does Nigeria rank globally on Oil rents (% of GDP)?
- In 2021, Nigeria ranked #22 out of 190 countries reporting Oil rents (% of GDP).
- How does Nigeria's Oil rents (% of GDP) compare to the world average?
- The global average for Oil rents (% of GDP) in 2021 was 2.59, so Nigeria is above the world average. Within Sub-Saharan Africa, it ranks #6 of 46.
- What is Oil rents (% of GDP) and how is it measured?
- Oil rents are the difference between the value of crude oil production at regional prices and total costs of production.
Source: World Bank Open Data (NY.GDP.PETR.RT.ZS), CC BY 4.0.