With new 2019 base year, Nigeria ranked among the world’s 20 largest economies in 1998, 2013, 2014, and 2015 — peaking at $811 billion

  • Nigeria’s GDP has been rebased to a 2019 base year, raising its nominal value by about 40.8%, according to the IMF’s October 2025 update.
  • The revision includes new data on digital, informal, and service sectors, giving a fuller picture of the economy.
  • Nigeria ranked among the world’s top 20 economies in 1998, 2013, 2014, and 2015, peaking in 2014 at $811 billion.
  • Despite later declines from currency depreciation and slower growth, the revision reaffirms Nigeria’s position as Africa’s largest economy.

With the new 2019 base year, the IMF incorporated Nigeria’s revised national accounts, expanding data coverage to include the digital economy, informal activities, pensions, insurance, and small-scale industries.

The update increased Nigeria’s nominal GDP by about 40.8 percent, reshaping its historical economic size in dollar terms. As a result, Nigeria ranked among the world’s 20 largest economies in 1998, 2013, 2014, and 2015, peaking in 2014 with a GDP of about $811 billion.

Although currency depreciation and slower growth later reduced its global standing, the latest revision highlights how improved measurement and broader data capture can redefine a country’s true economic position.

Source:

International Monetary Fund (IMF)

Period:

1990-2030
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