Nigeria
The World Bank systematically assesses the appropriateness of official exchange rates as conversion factors. In this country, multiple or dual exchange rate activity exists and must be accounted for appropriately in underlying statistics. An alternative estimate (“alternative conversion factor” - PA.NUS.ATLS) is thus calculated as a weighted average of the different exchange rates in use in the country. Doing so better reflects economic reality and leads to more accurate cross-country comparisons and country classifications by income level. For this country, this applies to 1970-2020. Alternative conversion factors are used in the Atlas methodology and elsewhere in World Development Indicators as single-year conversion factors.
Global Rank (2023)
#184 / 205
Top 90% of global economies
Composite Score (2023)
37.8 / 100
Living Standard (2023)
$2,281
Subscore: 38.05 / 100
CPI Inflation (2023)
24.66%
Stability Score: 0 / 100
4-Pillar Structural Health Diagnostic (2023)
Harmonized subscores evaluating Output, Productivity, Inflation Stability, and External Buffer
Raw: $2,281 (2015 USD)
Raw: 24.66% (Anchor: 3.0%)
Raw: 1.32% of GDP
Raw: $487.4B Current USD
Optimal Component Weights & Peak Rank Frontier (2023)
Scale & Aggregate Power OrientedWhat we are doing here: We simulate an automated mathematical simplex across all 286 valid permutations of weights for the 4 pillars (summing to 100%) against every competing sovereign country in 2023. This discovers which weighting system maximizes Nigeria's global competitive ranking by accentuating its comparative strengths.
Policy Insight & Strategic Advantage: Nigeria's macroeconomic footprint is heavily amplified by its aggregate GDP size relative to global peers.
Under this bespoke weighting, Nigeria's composite score climbs to 72.4 (compared to 37.8 under standard multilateral weighting).
Longitudinal Trajectory & Peer Comparison Sandbox (1960–2025)
Tracking Nigeria's multi-decade trajectory overlaid with peer benchmark economies in Year 2023
Cross-Sectional Benchmark Standing in Year 2023
5 economies compared · Ordered by Global Rank| Country | Rank (2023) | Composite Score | GDP per Capita | CPI Inflation | Current Account (% GDP) | Nominal GDP ($) |
|---|---|---|---|---|---|---|
| Germany (DEU) | #16 | 81.1 | $44,369 | 5.95% | 5.50% | $4562.2B |
| United States (USA) | #17 | 80.0 | $65,667 | 4.12% | -3.34% | $27811.5B |
| China (CHN) | #37 | 72.3 | $12,484 | 0.23% | 1.41% | $18270.4B |
| India (IND) | #93 | 59.5 | $2,230 | 5.65% | -0.91% | $3500.9B |
| Nigeria (NGA) Active | #184 | 37.8 | $2,281 | 24.66% | 1.32% | $487.4B |
Decade-by-Decade Historical Milestones (1970–2023)
Visualizing seminal macroeconomic shifts, shocks, and structural transitions for Nigeria