68% of Nigeria's capital imports in Q1 went to three sectors — banking, production, and IT services

Most of Nigeria's capital imports in the first quarter of 2023 were directed toward three sectors. The banking sector got the most investments with $304 million, accounting for 27%, and the production and IT services sectors followed, with 22% and 19%, respectively.

Source:

National Bureau of Statistics

Period:

Q1 2023
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Gold (jewellery, bar & coin) demand in Egypt (2010–2024)
  • Jewellery demand made up 81.35% of Egypt’s total gold demand between 2010 and 2024.
  • The highest jewellery demand was recorded in 2010 at 53 tonnes, and no year since has reached that level.
  • Jewellery demand declined by 50.75% between 2010 and 2024.
  • Bar and coin demand saw a sharp 700% increase between 2021 and 2022.
  • In 2023, bar and coin demand hit a record high of 30.3 tonnes and, for the first time, exceeded jewellery demand.
  • Overall, bar and coin demand rose by 943.48% between 2010 and 2024.

Number of road accidents by geopolitical zone in Nigeria (Cumulative, Q3 2020-Q3 2024)
  • The North Central zone accounts for the highest share of road accidents in Nigeria, contributing 34.55% of the national total.
  • Within the North Central zone, Abuja (FCT) recorded the most accidents, with a cumulative total of 8,133 cases.
  • The South West zone ranks second, responsible for 25.78% of all accidents nationwide, with Ogun State leading the zone at 6,418 accidents.
  • The South East zone has the lowest share, contributing just 5.38% of total accidents from Q2 2020 to Q2 2024.
  • Enugu State, the highest contributor within the South East, accounts for only 1.59% of the national total.

The CBN raised rates six times in 2024 but has held steady at 27.5% in 2025
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Anambra State has tripled its IGR in the last ten years
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Administrative services surged by 21%, recording the most significant growth in Nigeria's 2024 rebased economy
  • Administrative & support services showed the highest percentage increase at 21.07%.
  • Agriculture is the largest sector by GDP value, at ₦59.31 trillion.
  • Trade is the second largest sector by GDP value, at ₦37.81 trillion.
  • Real estate is the third largest sector by GDP value, at ₦28.96 trillion.
  • Other services experienced negative growth, decreasing by -1.17%.
  • Electricity, gas, steam and air conditioning supply recorded the lowest positive growth at 0.56%.

Nigeria’s foreign trade
  • 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.

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