Industrial Production in Nigeria increased 1.60 percent in the fourth quarter of 2020 over the same quarter in the previous year. source: Central Bank of Nigeria

Industrial Production in Nigeria averaged 1 percent from 2007 until 2020, reaching an all time high of 25.10 percent in the fourth quarter of 2019 and a record low of -20.40 percent in the first quarter of 2016. This page provides - Nigeria Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Industrial Production - values, historical data and charts - was last updated on July of 2021.

Industrial Production in Nigeria is expected to be 8.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Nigeria to stand at 1.80 in 12 months time. In the long-term, the Nigeria Industrial Production is projected to trend around 3.00 percent in 2022 and 2.70 percent in 2023, according to our econometric models.

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Nigeria Industrial Production

Actual Previous Highest Lowest Dates Unit Frequency
1.60 -10.30 25.10 -20.40 2007 - 2020 percent Quarterly
2010=100

Nigeria Business Last Previous Highest Lowest Unit
Business Confidence -15.20 -1.50 41.10 -66.20 points [+]
Industrial Production 1.60 -10.30 25.10 -20.40 percent [+]
Manufacturing Production -1.30 -10.30 24.60 -10.30 percent [+]
Internet Speed 3853.93 4129.28 4129.28 348.64 KBps [+]
IP Addresses 209207.00 194830.00 244394.00 29604.00 IP [+]
Services PMI 47.30 47.90 62.30 25.30 points [+]
Leading Economic Index 45.90 45.50 53.00 45.50 percent [+]
Manufacturing PMI 49.00 48.80 61.10 41.10 points [+]
Mining Production 9.20 -17.30 48.20 -34.10 percent [+]
Crude Oil Rigs 5.00 6.00 23.00 3.00 [+]
Ease of Doing Business 131.00 146.00 170.00 120.00 [+]
Changes In Inventories 133483.38 72265.70 178909.34 32488.05 NGN Million [+]
Competitiveness Index 48.33 47.53 48.33 3.37 Points [+]
Competitiveness Rank 116.00 115.00 127.00 94.00 [+]
Composite PMI 53.60 54.40 59.10 37.10 points [+]
Capacity Utilization 45.40 43.80 60.50 40.10 percent [+]
Corruption Index 25.00 26.00 28.00 6.90 Points [+]
Corruption Rank 149.00 146.00 152.00 52.00 [+]


Nigeria Industrial Production
In Nigeria, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities.