Nigeria’s industry sector contribution varied widely, peaking at 37.7% in 1992 and experiencing a significant decline to 18.2% by 2016 due to oil price volatility and political instability. Recovery began in 2017, with the sector reaching 30.8% in 2022, driven by efforts to diversify beyond oil, with investments in agriculture and manufacturing. Nigeria’s industrial trends highlight its dependence on oil exports and the challenges in broadening the industrial base amid global energy price fluctuations and economic reforms.
Explore related charts to gain a better understanding of Nigeria’s urbanization growth, Nigeria’s services sector contribution to GDP, Nigeria’s annual GDP.
