Remittance - Intelpoint

Nearly half (48.9%) of Nigerian businesses identify inflation as their greatest economic challenge in 2025.
The foreign exchange rate (17.1%) is the second most pressing concern, reflecting ongoing naira volatility.
Insecurity (15.6%) and government policies (10.0%) remain significant worries for business operations.
Inadequate infrastructure (8.4%), while the least mentioned, continues to constrain growth.

Just 25.1% of MSMEs report receiving any form of government support, while 74.9% remain untouched by initiatives.
Among those who benefitted, 41.1% accessed grants, making it the most common form of support.
22.1% of MSMEs participated in government training programmes, showing recognition of capacity-building needs.
Only 16% received loans and 13.8% got tax breaks, underscoring limited financial and fiscal support penetration.
A mere 6.9% of businesses report accessing subsidies, reflecting minimal impact of such schemes.

The South West (₦8.3m) far surpasses all regions in monthly revenue, reflecting Lagos’ dominance as Nigeria’s commercial hub.
The South South (₦831k) and South East (₦605k) trail far behind but still outperform the northern regions.
The North East (₦562k) and North West (₦479k) show significantly lower average revenues.
The North Central (₦241k) records the weakest average, underlining stark regional disparities.

Only 12.1% of entrepreneurs are aged 18–25, showing limited entry among very young adults.
The largest groups are 26–35 (33.3%) and 36–45 (33.8%), together accounting for two-thirds of entrepreneurs.
Mid-life representation: 14.6% are aged 46–55.
Just 6.2% are 56 and above, indicating fewer older adults start or run MSMEs.

48.8% of MSMEs earn less than ₦100,000 monthly.
19.5% report revenues between ₦100,000 and ₦199,900.
The share of businesses decreases steadily in the ₦200,000–₦999,900 bands, ranging from 9.3% to 6%.
Only 8.8% of MSMEs earn above ₦1 million monthly, with just 0.4% exceeding ₦100 million.

Trade contributed 18.28%, making it the largest sector in Q2 2025's GDP.
Crop production followed with 17.8%, underscoring agriculture’s central role.
Oil and gas added just 4.05%, highlighting its shrinking share compared to non-oil sectors.
Real estate and telecoms reinforced the growing strength of services in the Nigerian economy.

Production dipped sharply in 2022, with the steepest quarterly decline of –16.08% in Q3, before recovering at year-end.
2023 marked a rebound year, highlighted by strong quarterly growth of 18.85% in Q3, lifting production back above 1.5 mbpd.
2024 showed relative stability, with modest fluctuations; production only briefly fell below 1.5 mbpd before gradually recovering.
By Q2 2025, output hit 1.68 mbpd, the highest in the series, supported by consistent growth in three straight quarters.

Nigeria received a total of 880 H-1B visas in FY 2024, averaging about 73 per month.
December 2023 was the peak month, with 118 issuances, while June 2024 recorded the lowest at just 46.
Issuances fluctuated throughout the year, reflecting no clear upward trend but significant month-to-month volatility.
Despite peaks and dips, overall activity remained steady, with most months ranging between 60–90 approvals.

2024 recorded the highest number of H1-B issuances to Nigerians at 880, nearly double 2022’s level.
Issuances dropped sharply to 231 in 2020 and 197 in 2021, marking the lowest levels in nearly two decades.
Between 2006 (483) and 2017 (354), there was a gradual decline in approvals before a steeper fall in 2020.
From 2021 to 2024, issuances surged by more than 340%, suggesting strong demand for U.S. tech and professional opportunities among Nigerians.

₦7.88 trillion worth of manufactured goods made up 51.6% of imports, underscoring Nigeria’s dependence on foreign industrial products.
Other petroleum oil products accounted for ₦2.79 trillion (18.2%) of imports, showing continued reliance on external energy supplies despite Nigeria’s oil-rich status.
₦1.72 trillion in raw material imports (11.3%) highlights the gap in local processing capacity.
Solid minerals (₦70.9 bn, 0.46%) and energy goods (₦150 mn, almost 0%) show almost no role in imports.

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