Nigeria: Stock market capitalization, percent of GDP

The latest value from 2022 is 19.35 percent, a decline from 33.64 percent in 2021. In comparison, the world average is 76.03 percent, based on data from 74 countries. Historically, the average for Nigeria from 1993 to 2022 is 11.26 percent. The minimum value, 2.5 percent, was reached in 2002 while the maximum of 33.64 percent was recorded in 2021. See the global rankings for that indicator or use the country comparator to compare trends over time.

The stock market capitalization in Nigeria and other countries is calculated as the number of shares traded on the stock exchange times their prices. It is a measure of the size of the stock market in the country. It is usually reported as percent of GDP so that we can evaluate the size of the stock market relative to the size of the economy.

Stock market capitalization of about 50 percent of GDP and more is an indication of a well developed stock market. Yet, in most countries the stock market almost does not exist. The capitalization there is close to zero.

Have in mind that a large stock market capitalization does not necessarily mean that the stock market is active. The stock market could be composed of a few large companies whose shares are seldom traded.

Definition: Market capitalization (also known as market value) is the share price times the number of shares outstanding (including their several classes) for listed domestic companies. Investment funds, unit trusts, and companies whose only business goal is to hold shares of other listed companies are excluded. Data are end of year values.