Nigeria recorded a Government Budget deficit equal to 6.10 percent of the country's Gross Domestic Product in 2023. Government Budget in Nigeria averaged -2.73 percent of GDP from 1981 until 2023, reaching an all time high of 0.80 percent of GDP in 1996 and a record low of -8.60 percent of GDP in 1993. source: Central Bank of Nigeria

Government Budget in Nigeria is expected to reach -4.20 percent of GDP by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the Nigeria Government Budget is projected to trend around -3.90 percent of GDP in 2025 and -3.50 percent of GDP in 2026, according to our econometric models.




Related Last Previous Unit Reference
Fiscal Expenditure 5584.15 6838.96 NGN Billion Sep 2024
Government Budget -6.10 -5.00 percent of GDP Dec 2023
Government Budget Value -3301.61 -4533.42 NGN Billion Sep 2024
Government Revenues 2282.54 2408.32 NGN Billion Sep 2024

Nigeria Government Budget
The Government Budget to GDP ratio is an itemized accounting of the payments received by the government (taxes and other fees) and the payments made by the government (purchases and transfer payments) relative to GDP. A budget deficit occurs when a government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.
Actual Previous Highest Lowest Dates Unit Frequency
-6.10 -5.00 0.80 -8.60 1981 - 2023 percent of GDP Yearly
NSA