Federal government capital expenditure in Nigeria has grown at a constant annual rate of 12.91% since 2010 to reach a cumulative total of ₦25.7 trillion

Key takeaways:

  • Between 2010 and 2024 (a 15-year period), the federal government invested over ₦25.7 trillion in capital projects.
  • The post-2020 era saw a dramatic rise in capital expenditure, growing from ₦1.61 trillion in 2020 to ₦5.15 trillion in 2024, indicating accelerated investments in infrastructure.
  • The increase in expenditure after 2020 suggests the government prioritised economic recovery efforts, allocating more resources to capital projects post-pandemic.
  • Nigeria recorded its highest-ever capital expenditure in 2023 (₦4.49 trillion) and 2024 (₦5.15 trillion), showing a more aggressive investment approach in recent years.
  • 2014 recorded the lowest capital expenditure (₦0.59 trillion) in the 15-year span, possibly due to revenue shortfalls, oil price fluctuations, or policy shifts at the time.

Since 2010, Nigeria’s federal government capital expenditure has seen a 12.91% Constant Annual Growth Rate (CAGR), reaching a cumulative ₦25.7 trillion by 2024. The post-2020 era saw the highest rate of increase, growing from ₦1.61 trillion in 2020 to ₦5.15 trillion in 2024, and totaling ₦15.3 trillion (59.5% of total 15-year cumulative investment), indicating accelerated investments in infrastructure.

Source:

Office of the Accountant General of the Federation

Period:

2010 - 2024
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