Economy - Page 5 - Intelpoint

Algeria’s debt service per GDP dropped from 0.77% in 2009 to a projected 0.09% in 2025.
The country’s debt service per GDP declined at a -11.9% CAGR from 2009–2025.
A high of 0.73% occurred in 2012 before the consistent decline resumed.
By 2015, the country's debt service fell to 0.27%, showing progress in reduction.
The lowest point is forecast for 2025, at 0.09% of GDP.
Algeria’s debt burden is among the lowest in Africa, contrasting with the rising trend in many other nations.
This low debt service level allows for greater fiscal flexibility in public spending and investment.

Nigeria's debt service per GDP rose from 0.9% in 2009 to a projected 15.1% in 2025.
Overall CAGR from 2009 to 2025 is 17.8%.
President Muhammadu Buhari’s tenure saw the fastest growth (29.1% CAGR).
Under President Goodluck Jonathan, growth was slower (6.5% CAGR).
President Bola Ahmed Tinubu’s term so far shows a 27.6% CAGR.

Debt service in Angola hit 68.3% of GDP in 2024.
Even with a projected fall to 67.7% in 2025, the debt burden remains high.
Between 2009 and 2025, the debt service ratio grew at a CAGR of 11.2%.
The ratio stayed below 15% from 2009 to 2014 before surging to 41.9% in 2016.
Angola has faced multiple spikes above 50% since 2019, showing recurring debt strain.
The sharp drop to 31.2% in 2022 was short-lived, followed by a steep increase.

Sudan’s debt-to-GDP ratio of 238.8% is the highest in Africa and over twice the size of its economy.
Three African countries—Sudan, Cabo Verde, and Zambia—have debt burdens exceeding 100% of their GDP.
Egypt, Mozambique, and the Congo Republic follow closely with ratios above 88% each, despite efforts at economic reform.
Ghana and Sierra Leone are also in the top 10, showing that West Africa isn’t exempt from debt pressure.
Nigeria, while not in the top 10, has a debt-to-GDP ratio of 41.3% and ranks 43rd in Africa.
A high debt-to-GDP ratio often limits a country’s ability to invest in growth-driving sectors, even if the economy is growing nominally.

DR Congo has the lowest debt-to-GDP ratio in Africa, at just 11.1%.
Africa’s average debt-to-GDP ratio stands at 63.2%, meaning most countries on the bottom 10 list are performing better than the continental average.
Nigeria, despite its size and challenges, still maintains a relatively moderate debt load of 41.3%.
Botswana’s debt ratio of 18.1% places it among Africa’s most fiscally conservative economies.
Ethiopia and Guinea, both undergoing major economic transitions, still keep debt levels below 32%.
The presence of both low-income and resource-rich countries on the list shows that low debt isn’t exclusive to one economic model.

Company Income Tax (Non-Oil) emerged as the largest contributor, accounting for over 30% of total tax revenue.
NCS-Import VAT followed closely, contributing 23.63%, emphasising the significance of import-related taxes to Nigeria's revenue.
Traditional oil-based taxes such as Petroleum Profit Tax/Hydrocarbon Tax and CIT (Oil & Gas) jointly contributed over 26%, showing that oil remains a vital but declining pillar.
Newer tax streams like the Electronic Money Transfer Levy and NASENI (National Agency for Science and Engineering Infrastructure) funding have emerged, but still make up less than 2% of total revenue.
Minor tax categories like Capital Gains Tax, NITDEF (National Information Technology Development Fund), and NPTFL (Nigeria Police Trust Fund) had negligible impact, each contributing less than 0.5%

Apapa Port accounted for 71.6% of Nigeria’s total trade value in Q1 2025 and 82.12% of total exports
Apapa Port handled ₦25.79 trillion worth of goods in Q1 2025, representing 71.6% of total trade. It remains the country’s primary trade hub, far surpassing all other ports combined.
Apapa alone facilitated ₦17.74 trillion or 86.1% of Nigeria’s total exports, showing a high dependency on a single location for outbound goods.
Tin Can Island is the only meaningful secondary hub With ₦3.44 trillion (9.5%) in total trade, ranking a distant second. It’s the only other port contributing more than ₦1 trillion each to imports and exports.
Lekki has limited export impact, despite handling ₦1.70 trillion in imports. Lekki contributed only ₦0.30 trillion (1.5%) in exports, indicating underutilization for outbound trade.
Murtala Muhammed International Airport processed just ₦647.91 billion (1.8%) of total trade, reinforcing that Nigeria’s international trade remains heavily maritime-focused.

From just $190 million in 2006, Lagos State's year-end external debt rose significantly to over $1.1 billion by 2024, a more than 500% increase over 19 years.
The highest year-end debt was recorded in 2017 at $1.47 billion, with a gradual decline afterwards, except for a brief rise again in 2022–2023.
By 2024, Lagos State's external debt dipped slightly to $1.17 billion, suggesting some debt service or currency gain effects.
If Lagos State paid off or borrowed funds in a given year, only the remaining unpaid amount by year-end is shown in the data.

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