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Government Finance of Nigeria

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Overview Economy Population Trade Government Finance Society Environment

Tax Revenue Composition

7.2% 43.6% 35.8%
  • Personal income taxes: 7.2%
  • Corporate income taxes: 43.6%
  • Social security contributions: 6.4%
  • Payroll taxes: 0.2%
  • Property taxes: 0.9%
  • Goods and services taxes: 35.8%
  • Other taxes: 5.9%
Show table
Personal income taxes
7.2%
Corporate income taxes
43.6%
Social security contributions
6.4%
Payroll taxes
0.2%
Property taxes
0.9%
Goods and services taxes
35.8%
Other taxes
5.9%

Source: OECD Global Revenue Statistics Database, 2023.

Government Debt

Government Gross Debt (% of GDP) 32.3% #144 / 184 2026
Government Gross Debt (Local currency - NGN) 171.13T - 2026
Government Net Debt (% of GDP) 32.2% #60 / 86 2026
Government Net Debt (Local currency - NGN) 170.34T - 2026

Fiscal Balance

Fiscal Balance (% of GDP) -4.4% #133 / 189 2026
Fiscal Balance (Local currency - NGN) -23.23T - 2026
Primary Fiscal Balance (% of GDP) -1.6% #110 / 182 2026
Primary Fiscal Balance (Local currency - NGN) -8.72T - 2026

Revenue and Spending

Government Revenue (% of GDP) 10.6% #184 / 189 2026
Government Revenue (Local currency - NGN) 56.08T - 2026
Government Spending (% of GDP) 15% #182 / 189 2026
Government Spending (Local currency - NGN) 79.31T - 2026

International Reserves

Total Reserves (USD) 40.4B #51 / 163 2024

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