Education - Intelpoint

Total Trade Volume in Q1 2025 stood at ₦36.02 trillion, with exports totalling ₦20.6 trillion and imports at ₦15.4 trillion, resulting in a surplus of ₦5.17 trillion.
Crude oil dominates Nigeria’s export trade, accounting for the largest share of export revenue. -
Other petroleum oil products are also a major export item, reflecting the significance of both raw and refined oil-based commodities in Nigeria’s trade portfolio. -
On the import side, manufactured goods dominate, showing Nigeria’s continued reliance on foreign machinery, technology, and consumer goods.
While Nigeria exports mostly raw and oil-based products, it imports refined, processed, or industrial goods, indicating a structural trade gap and limited local industrial capacity. -
Agricultural and raw material goods feature on both sides of trade, but their value is significantly less than petroleum-related trade.

India is Nigeria’s largest export destination Nigeria exported ₦2.84 trillion worth of goods to India in Q1 2025, driven largely by crude oil.

China dominates imports into Nigeria China supplied ₦4.66 trillion worth of goods, far outpacing all other countries. Likely dominated by electronics, machinery, and manufactured goods.
The United States appears on both sides. Nigeria exports ₦1.54 trillion to the US and imports ₦1.42 trillion, showing a relatively balanced trade relationship.
European countries are major export Partners Netherlands (₦2.30T), France (₦1.44T), and Spain (₦1.44T) are prominent export destinations, indicating strong demand for Nigerian crude oil and other commodities in Europe.
UAE barely makes the import list. The UAE closes out the top import list at ₦0.61 trillion, showing relatively lower trade volume compared to others, but still significant enough to be in the top 5.

The value of agricultural goods exported in Q1 2025 rose to ₦1.70 trillion, up 64.65% year-on-year and 10.63% quarter-on-quarter, highlighting continued growth in the sector.
Standard and superior cocoa beans led the chart, contributing a combined ₦1.23 trillion, with major buyers being The Netherlands (₦344.17B) and Belgium (₦203.17B).
Cashew nuts in shell earned ₦157.63B, mostly exported to India (₦87.56B) and Vietnam (₦69.74B). Sesamum seeds brought in ₦128.18B.
Soya bean flours and ornamental flowers fetched ₦27B and ₦18B respectively, showing Nigeria's export mix is broadening.

Cars were involved in the highest number of road accidents, recording 665 cases over the four-year period.
Luxury buses and bicycles recorded the highest quarter-on-quarter (QoQ) growth in accident involvement.
Tankers, cars, and motorcycles saw the sharpest QoQ declines, with accident rates falling by 47.2%, 30.6%, and 24.7% respectively.

Nigerians submitted 1.1 million Schengen visa applications between 2009 and 2024.
The highest rejection rates occurred in 2017 (53%) and 2019 (51%).
A total of 491,844 applications were rejected, a cumulative denial rate of 42.1%.
Despite post-pandemic recovery, 2024 recorded the highest applications (111k), with a 45% rejection rate.
The year 2010 stands out as the period with the least number of Schengen visa applications submitted by the Nigerian consulate.

FCT, Ogun, and Nasarawa consistently rank as the top three states with the highest number of road accidents.
The FCT recorded its peak accident figures in 2022, particularly in Q2 (842 cases) and Q4 (864 cases).
In Q2 and Q3 of 2024, Ogun State surpassed the FCT in the number of reported accidents.
Across these three states, there has been a notable decline in accident numbers, with an average decrease of approximately 37.6% between Q2 and Q3 2024.

Private universities in Nigeria outnumber federal and state institutions combined.
Nigeria has 159 private universities, more than double the number of federal universities.
Federal universities stand at 72, showing steady federal government investment in tertiary education.
State-owned universities number 66, slightly fewer than federal universities but forming a significant part of public education.

Road accidents declined by 53% between Q3 2020 and Q3 2024.
Q4 2022 recorded the highest number of accidents, with 4,835 reported cases.
Q3 2024 had the lowest number, with just 1,945 accidents.
Speed violation remains the leading cause of road accidents in Nigeria.
Ogun, FCT, Kaduna, and Nasarawa consistently rank among the top four states with the highest accident occurrences.
Bayelsa, Borno, Imo, Rivers, and Akwa Ibom regularly report the lowest number of accidents each quarter.
Commercial vehicles are the most frequently involved vehicle category in accidents.
Cars account for the highest number of individual vehicle accidents.

The Federal Capital territory (FCT) recorded the highest number of road accidents between Q3 2020 and Q3 2024, with a total of 8,133 accidents, accounting for 12.42% of total accidents.
FCT, Ogun, Nasarawa, and Kaduna consistently ranked among the top four states with the highest accident occurrences.
Bayelsa, Borno, Akwa Ibom, Rivers, and Imo were among the states with the lowest number of recorded accidents each quarter.

FDI inflows peaked in 2011 at $8.91 billion, the highest in the 35-year period.
Between 2005 and 2012, Nigeria saw a sustained boom in FDI, with seven consecutive years above $4 billion.
In 2018, Nigeria recorded its lowest FDI inflow in decades at just $0.78 billion.
By 2024, FDI stood at $1.08 billion, down 88% from its 2011 peak, reflecting declining investor interest or changing investment climates.

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