Agriculture - Page 2

Lagos State tops the list with the highest intra-city bus fare at ₦1,384, exceeding the national average by ₦355.
Abia State recorded the lowest average fare at ₦508, showing a stark difference of ₦876 between the highest and lowest states.
The national average fare for a bus trip within Nigerian cities stood at ₦1,028.40 as of July 2025.
Nasarawa (₦1,306) and Enugu (₦1,280) followed closely behind Lagos State, rounding out the top three highest fares.
The South West had the highest regional average fare (₦1,116), while the South South (₦985) and North West (₦995) had the lowest.
States like Taraba (₦1,250) and Zamfara (₦1,248) also featured in the top six, showing that high fares are not limited to Southern urban centres.

Nigeria’s FDI share plunged from 35% in 1990 to 1.1% in 2024.
Africa’s FDI surged over the same period, leaving Nigeria behind.
Q1 2025 inflow was only $126.3 million, showing persistent weakness.
Decline mirrors structural hurdles — unstable policies, forex issues, and weak infrastructure.

West Africa dominates Africa’s top 15, holding six positions on the remittance importance index.
Zimbabwe (78) ranks as Africa’s top country in terms of remittances' importance.
Senegal (77) and Nigeria (72) highlight the central role of diaspora inflows in West Africa’s economies.
Morocco (74) leads North Africa in remittance importance.
Smaller nations like Lesotho (68) and Liberia (68) depend heavily on remittances relative to their GDP.
The lowest-ranked countries, including Angola (9) and Djibouti (11), rely minimally on remittance inflows.

2024 was the strongest year on record, with 495.6k tons of cargo transported, more than 60% higher than 2023 and ₦1.95 billion in freight revenue.
Cargo volume and revenue both crashed in 2020 due to COVID-19 disruptions, falling to 87.4k tons and ₦281.4 million respectively.
Recovery began in 2021–2022, as improved freight operations and industrial demand pushed steady gains in both tonnage and income.
Q1 2025 shows 181.5k tons and ₦650m (approx.) in revenue, signaling strong momentum that could surpass 2024 totals if maintained.

2020 marked the lowest point for both passenger volume (1.02 million) and revenue (₦1.7 billion), reflecting the full impact of COVID-19 lockdowns.
Strong recovery followed in 2021, with passenger numbers jumping to 2.71 million and revenue surging by 226% to ₦5.6 billion.
2024 was the best-performing year, recording ₦6.7 billion in revenue and 3.14 million passengers, a clear sign of renewed public confidence in rail transport.
Q1 2025 (₦1.9 billion revenue, 929,000 passengers) suggests steady ridership levels but moderate momentum compared to the 2024 surge.

Nigeria’s domestic debt jumped from ₦3.8 trillion in 2010 to ₦80.55 trillion by mid-2025.
Foreign debts increased from $4.27 billion in 2010 to $46.98 billion in 2025, reflecting growing reliance on external financing.
Debt accumulation surged notably after 2020, coinciding with pandemic spending, naira depreciation, and higher fiscal deficits.
The widening gap between revenue and debt service raises questions about Nigeria’s long-term debt sustainability.

Africa received $96.4 billion in remittances in 2024.
Egypt ($22.7B) and Nigeria ($19.8B) dominated inflows, accounting for nearly half of the continent’s total.
Egypt’s 16% growth reflects stronger remittance networks and economic linkages with its diaspora.
Nigeria’s inflows grew modestly (1%).
Ghana recorded the highest growth (91%), indicating a resurgence in diaspora remittances.
Zimbabwe (-6%) and Tunisia (-3%) experienced declines, pointing to potential disruptions in inflow channels.

A total of ₦20.45 trillion in Internally Generated Revenue (IGR) has been recorded nationwide since 2008.
Lagos State generated ₦1.26 trillion in 2024, maintaining its position as the top revenue-generating state.
For five consecutive years, Yobe and Taraba have consistently ranked among the bottom five states in revenue generation.
FCT IGR records began in 2018.
Enugu State recorded a remarkable 433.03% year-on-year increase in 2024.
Ebonyi (–57.27%), Ondo (–24.70%), and Yobe (–0.99%) were the only states that experienced a decline in IGR in 2024.

The six North-Eastern states collectively owe around ₦450 billion in domestic debt as of Q2 2025.
Borno State maintains the lowest debt in the region at ₦22.3 billion, showing signs of controlled borrowing amid post-conflict rebuilding.
Bauchi State has the highest domestic debt burden of ₦143.6 billion, accounting for about 31% of the region’s total.
The top three states, Bauchi, Taraba and Gombe, collectively account for more than two-thirds of the zone’s total subnational debt stock.

Nigeria paid $816.3 million to the International Monetary Fund, accounting for over 35% of total external debt service payments.
Eurobond payments followed closely, with $687.8 million paid, reflecting Nigeria’s heavy reliance on commercial debt instruments.
Multilateral lenders like IDA and AfDB collectively received about $463 million, signalling continued exposure to concessional financing.
China’s share shrinking: Payments to Chinese lenders (EXIM + CDB) totalled $235.6 million, less than 11% of total outflows, suggesting reduced Chinese debt servicing in H1 2025.

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