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%.
From recession to recovery, Nigeria’s GDP growth journey reveals three decades of economic volatility and slow transformation.
Nigeria's economy grew by 14.6% in 2002, which is still the highest in the country's history.
The country entered a recession in 2016, with the economy shrinking by -1.6%.
Nigeria enjoyed a long period of strong growth between 2003 and 2010: The economy grew between 7% and 11%, powered by high oil prices and booming sectors like telecoms and banking.