Lagos and the FCT attracted 98% of Nigeria’s capital imports in Q1 2023

In Q1 2023, eight Nigerian states and the Federal Capital Territory (FCT) received $1.13 billion in capital imports. Lagos State secured $705 million (62%) and the FCT attracted $410 million (36%), adding up to 98%.

Source:

National Bureau of Statistics

Period:

Q1 2023
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Nigeria holds the third highest interest rate in Africa at 27.5%, as Zimbabwe leads with 35%
  • Zimbabwe has the highest benchmark interest rate in Africa at 35%, exceeding Ghana, the second highest, by 7% points.
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  • There is a significant drop of over 5% points between Sierra Leone at 24.75% and Angola at 19.5%, marking a clear shift to lower-rate economies below the top tier.
Nigeria ranks 7th among Europe’s crude oil suppliers, peaking at 0.54 million barrels per day
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With a 51.24-point increase, Morocco showed the most significant AIDI growth among the top African economies
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  • Over the past 21 years, Egypt's infrastructure development, as measured by AIDI, has more than tripled.
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