Nigerian states and the FCT generated ₦1.92 trillion in internal revenue in 2022, ₦29.8 billion (1.57%) more than in 2021, with Lagos State accounting for 34% of the IGR in 2022. Here are the revenues collected by Nigeria's states in 2022.
The number of non-resident visitors to Nigeria fell sharply in 2020 to the lowest level in 25 years. This sudden downturn was a contrast to the years between 1995 and 2010 when Nigeria's tourism sector experienced an amazing upswing.
Nigeria saw a record high of 6.1 million non-resident visitors in 2010, highlighting the country's increasing appeal as a travel destination. A remarkable spike in arrivals of 5.24 million in 2007 made the year stand out.
The global pandemic in 2020, however, caused a significant decline, with just 1.21 million visitors — the lowest number since 1996.
While many living in Nigeria have already experienced the effects of the fuel subsidy removal on their daily expenses, this chart presents a clearer picture of reality. Will the prices of food items continue to rise? Is there hope of some respite soon?
Over the past nine years, the UK has been a major player in Nigeria's economy, contributing a substantial 43% ($47.5b) of the total capital imports. The UK's biggest capital investments in Nigeria occurred in 2014 and 2019. Since peaking in 2019, they have fallen 75% as of 2022.
Examining road accidents in Nigeria from Q1 2019 to Q2 2023 shows that crashes increased in every fourth quarter. This can be attributed to increased road traffic during the festive periods. Here are road accidents in Nigeria from Q1 2019 to Q2 2023 and ways to reduce accidents.
Nigeria's Federal Account Allocation Committee shared ₦1.85 trillion among 36 states between January and June 2023. Here is the revenue allocation by geopolitical zone in H1 2023.
In 2022, the US exported $631 million worth of agricultural produce to Nigeria, with wheat the biggest export. It accounted for 76% of the exports followed by industrial ethanol (9.3%).
Nigeria's debt burden has been a growing concern, with data revealing that for every $1 billion external loan repaid in the past decade, approximately $3 billion was borrowed. Here, we look at how the country has managed its external debt in the past ten years.
African countries dominated the list of top diamond producers, with 11 of them among the top 14 in 2022. Russia tops the list with a production of 41.9 million carats, followed by Botswana, which produced 24.5 million carats. Here are the top diamond-producing countries in 2022.
Data from the Boston University Global Development Policy Center shows that Chinese creditors have loaned African countries $167 billion since 2000, with Angola receiving 27% ($45 billion) of the amount. Ethiopia, Kenya, Zambia, and Egypt complete the top five.
