The IMF’s new 2019 GDP base year added between $20 billion and $235 billion annually to Nigeria’s GDP from 1990–2025.
2014 saw the biggest jump — an upward revision of $235.1 billion, raising GDP to $811.1 billion from $576.0 billion under the old base.
The rebased data consistently show 40–45% higher GDP values through the 2000s and 2010s, revealing a larger economy than earlier estimates.
The impact was strongest during Nigeria’s oil boom years (2007–2014), when rebasing captured fast-growing sectors like digital services, informal trade, and modular refining.
The seven North-Western states collectively owed about ₦223.4 billion in domestic debt as of Q2 2025, according to DMO data.
Kano State ranked highest with ₦56.9 billion, accounting for roughly 25% of the zone’s total debt.
Jigawa remains the least indebted in the region and in the entire country, with only ₦852 million.
Moderate debt spread: While Kano, Zamfara, and Sokoto carried the largest debt loads, the remaining states maintained relatively conservative borrowing patterns.
The six North Central states collectively hold ₦449.4 billion in domestic debt as of Q2 2025, according to DMO data.
Kogi and Nasarawa lead in fiscal control with ₦18.8 billion and ₦23.9 billion, respectively
Both states record the lowest debt profiles in the region. Niger State’s ₦141.5 billion debt makes it the region’s most indebted, accounting for nearly one-third of the total.
The debt gap between Kogi (lowest) and Niger (highest) stands at over ₦123 billion, highlighting stark differences in fiscal management and borrowing capacity across the zone.
From recession to recovery, Nigeria’s GDP growth journey reveals three decades of economic volatility and slow transformation.
Nigeria's economy grew by 14.6% in 2002, which is still the highest in the country's history.
The country entered a recession in 2016, with the economy shrinking by -1.6%.
Nigeria enjoyed a long period of strong growth between 2003 and 2010: The economy grew between 7% and 11%, powered by high oil prices and booming sectors like telecoms and banking.
