Nigeria - Gross fixed capital formation in current prices

153,122,827,906 (US dollars) in 2022

Gross fixed capital formation of Nigeria surged by 7.33% from 142,667,229,673 US dollars in 2021 to 153,122,827,906 US dollars in 2022. Since the 7.03% drop in 2017, gross fixed capital formation soared by 176.93% in 2022.

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What is gross fixed capital formation?

Gross fixed capital formation is measured by the total value of a producer’s acquisitions, less disposals, of fixed assets during the accounting period plus certain additions to the value of non- produced assets (such as subsoil assets or major improvements in the quantity, quality or productivity of land) realised by the productive activity of institutional units.

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What is Nigeria gross fixed capital formation?