Nigeria Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
Nigeria's budget deficit was -2.93% in 2025, ranked 98th globally. This represents a 87.0% decrease from 2024. Data from IMF WEO, covering 1990–2025.
Overview
Nigeria's budget deficit stood at -2.93% in 2025, a decline of +1.36% from 2024. The IMF projects -2.93% by 2025. Nigeria ranked 98th globally.
Nigeria’s primary budget deficit widened to –2.93 percent of GDP in 2025, placing the country 98th in the global ranking and closely matching peers such as Croatia (–2.92) and Niger (–2.97). The deficit trajectory spans 36 years, moving from a modest –0.48 percent in 1990 to an acute trough of –6.08 percent in 1993, before expanding sharply to an all‑time peak of 6.22 percent in 2006. The post‑2006 period has seen a gradual reversal, with deficits remaining negative but persisting at relatively high levels as fiscal pressures from oil revenue volatility and rising social expenditures continue. Structural reforms aimed at broadening the tax base and improving public‑financial management could lower the deficit further, while any resurgence in commodity price shocks or fiscal stimulus could reverse the modest improvement trend.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | -3.25% | - | - |
| 2029* IMF | -3.27% | - | - |
| 2028* IMF | -2.97% | - | - |
| 2027* IMF | -2.85% | - | - |
| 2026* IMF | -3.73% | - | - |
| 2025* IMF | -2.93% | - | - |
| 2025 | -2.93% | −1.36% | #98 |
| 2024 | -1.57% | +1.56% | #121 |
| 2023 | -3.13% | +0.88% | #91 |
| 2022 | -4.00% | −0.03% | #71 |
| 2021 | -3.97% | +0.06% | #98 |
| 2020 | -4.03% | −0.72% | #133 |
| 2019 | -3.31% | −0.24% | #63 |
| 2018 | -3.06% | +0.78% | #57 |
| 2017 | -3.85% | −0.55% | #53 |
| 2016 | -3.30% | −0.60% | #73 |
| 2015 | -2.70% | −0.97% | #99 |
| 2014 | -1.73% | +0.17% | #123 |
| 2013 | -1.89% | −1.80% | #106 |
| 2012 | -0.09% | −0.40% | #142 |
| 2011 | 0.31% | +3.27% | #148 |
Detected Pattern
Analysis
Nigeria matched the Export Boom Cycle pattern in 2024. Historically, 71% of countries showing this pattern (546 out of 768) saw budget deficit improve within 24 months. View full analysis →
Frequently Asked Questions
Nigeria's budget deficit was -2.93% in 2025. Ranked 98th globally. This represents a 87.0% decrease from the previous year.
Nigeria's budget deficit peaked at 6.22% in 2006.
The lowest budget deficit in Nigeria was -6.08% in 1993.
Nigeria ranks 98th globally in budget deficit as of 2025.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
Nigeria's budget deficit is projected to reach -2.93% by 2025 based on IMF projection.
The budget deficit of Nigeria in 2025 was -2.93%. This ranks 98th in the world.
Cite this page
@misc{historysaid_nigeria_budget-deficit,
title = {Nigeria Budget Deficit},
url = {https://historysaid.com/nigeria/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}