Domestic Demand in Nigeria
The Nigerian economy recorded average domestic demand growth of 3.1% in the decade to 2022. In 2022, domestic demand growth was -3.2%.
Nigeria Demand Chart
Note: This chart displays Domestic Demand (ann. var. %) for Nigeria from 2013 to 2023.
Source: Macrobond.
Nigeria Demand Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Domestic Demand (ann. var. %) | 1.0 | 0.3 | 15.2 | -3.2 | -6.7 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Nigerian demand projections for the next ten years from a panel of 6 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable demand forecast available for Nigerian demand.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Nigerian demand projections.
Want to get access to the full dataset of Nigerian demand forecasts? Send an email to info@focus-economics.com.