Fashion - Intelpoint

Company income tax collections declined across 13 sectors in Q1 2026

Thirteen of Nigeria’s 21 sectors recorded year-on-year declines in CIT collections.
Extraterritorial organisations recorded the steepest fall at 53.9%.
Construction collections fell by 52.4%, the second-largest decline.
Mining and agriculture declined by 39.4% and 40.8%, respectively.
Manufacturing still generated ₦74.5 billion despite a 31.0% decline.

Eswatini and Morocco have remained in the World Bank's lower-middle-income band for at least 38 consecutive years

Nigeria has remained in the World Bank’s lower-middle-income category for 17 consecutive years.
Eswatini and Morocco have spent at least 38 consecutive years in the category, the longest among African countries.
Africa has 23 lower-middle-income economies in the World Bank’s Fiscal Year 2026 classification.
Tunisia, Angola, and Namibia entered the category after falling from upper-middle-income status.

Portfolio investment into Nigeria hit a 13-year quarterly high in Q1 2026

Portfolio investment into Nigeria reached $9.86 billion in Q1 2026, the highest quarterly level in 51 quarters.
The Q1 2026 portfolio inflow was higher than the previous peak of $7.11 billion recorded in Q1 2019.
Portfolio investment accounted for 95% of Nigeria’s total capital importation in Q1 2026.
Foreign Direct Investment remained low at $135 million, far below portfolio inflows.
Other Investment stood at $374 million, making it the second-largest inflow category in Q1 2026.

Three African countries are projected to have debt exceeding their GDP in 2026

Sudan is projected to have Africa’s highest debt-to-GDP ratio in 2026, at 169.1%.
Only three African countries are projected to owe more than the size of their economies in 2026.
Senegal and Mozambique join Sudan among countries with debt-to-GDP ratios above 100%.
Africa’s average government debt-to-GDP ratio is projected at 60.7% in 2026.
Nigeria’s projected debt-to-GDP ratio of 32.3% is far below the African average.

Every food item tracked has at least doubled in price since May 2023

Every comparable food item tracked is now at least twice as expensive as it was in May 2023.
Nearly half of the selected food items have more than tripled in price since the month before fuel subsidy removal.
Unripe plantain recorded the steepest increase, rising by 469% between May 2023 and April 2026.
Ripe plantain, yam tuber, and fresh tilapia also saw extreme increases of more than 300%.
Even the slowest-rising staples, including frozen chicken, beans, gari, and maize, still more than doubled in price.

Healthy diet costs rose fastest in Nigeria’s North-West over two years

Healthy diet costs rose 49% nationally in two years.
North-West states recorded the fastest increases.
All seven North-West states rose above the national average.
Katsina and Kogi recorded the steepest increases, at 98%.
Akwa Ibom had the lowest increase, at 5%.

One adult’s monthly healthy diet takes two-thirds of minimum wage

One adult’s healthy diet takes 66% of Nigeria’s minimum wage.
The national average monthly cost is about ₦46,230 per adult.
Ekiti has the highest burden, at 90% of minimum wage.
Six states require over 80% of minimum wage for one adult’s healthy diet.
Adamawa has the lowest burden, at 43%.

GTCO turned ₦40 of every ₦100 earned into profit

GTCO had the strongest profit conversion in 2025.
GTCO turned about ₦40 of every ₦100 earned into profit.
Stanbic IBTC followed with about ₦34 profit per ₦100 earned.
Zenith made the highest profit, but not the strongest conversion.
First HoldCo had the weakest profit conversion among the banks reviewed.

Jaiz Bank spent the highest share of revenue on staff among NGX-listed banks

Jaiz Bank spent the highest share of revenue on staff in 2025. Jaiz spent nearly ₦18 on staff for every ₦100 of revenue. ETI and UBA followed with the next highest staff-cost-to-revenue ratios. GTCO had the lowest staff-cost burden among the listed banks. ETI spent the most in absolute staff costs, at ₦782.8 billion.

Migrating millionaires from South Africa and Nigeria were linked o over $3 billion in wealth

Nigeria lost 200 more millionaires than it gained between 2014 and 2024.
Migrating Nigerian millionaires were linked to an estimated $1.5 billion in wealth.
South Africa had Africa’s biggest net millionaire outflow among the selected countries.
Mauritius and Seychelles stood out as millionaire wealth magnets.
Seychelles attracted the highest migrant wealth per net millionaire gained.

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