• Nigeria has received $9.4 billion dollars in Chinese loans across different sectors since 2002
• The highest loan inflow was in 2017, with $2.8 billion, mainly for transportation and energy
• Transportation projects received the most funding, with notable amounts in 2017 ($2 billion) and 2019 ($1 billion)
• Loan inflows dropped significantly after 2017, with no borrowings between 2020 and 2022, and $973 million in 2023

Key Takeaways:

• The North East had the highest average cooking gas prices of ₦7.4k and ₦18.2k for 5kg and 12.5kg cylinders respectively
• The average price of 5kg and 12.5kg cooking gas rose by 44.62% and 50.08% from December 2023
• The North East had the highest average price for 5kg gas, followed by the North Central, South West, North East, South East, and then the South South, which had the lowest average price
• The North East had the highest average price for 12.5kg gas, followed by the South West, South-South, South East, North East, and then the North Central, which had the lowest average price

Key Takeaways:

• The average price for 12.5kg cooking gas varies between ₦15,000 and ₦20,300
• The average price difference of cooking gas among Nigerian states is 28.97%
• Four out of the six states in the Southwest region are among the top 20 Nigerian states with the highest average cooking gas prices
• Nine out of Nigeria's 36 states plus Abuja have an average price for 12.5kg cooking gas that exceeds ₦18,000
• Taraba State stands out as the only state in Nigeria with an average cooking gas price surpassing ₦20,000
• The national average price of 12.5kg cooking gas in Nigeria is ₦17,274.16

Key takeaways:

• The average kerosene price increased by approximately 70.5%, rising from ₦1,206.1 in May 2023 to ₦2,056.4 in December 2024.
• Prices witnessed a moderate growth rate of 13% from May to December 2023, while the rate of increase escalated sharply in 2024, with a rise of 50.9% from January to December 2024.
• A notable acceleration in prices began in July 2024, when the price per litre first surpassed ₦1,700.
• The average price in December 2024 (₦2,056.4) was 51% greater than the average price in December 2023 (₦1,362.3).

Key Takeaways: 

• The northern regions of Nigeria experienced higher prices than the southern regions, except for the North East.
• The North Central region had the highest average kerosene cost, while the South East reported the lowest.
• There is a significant price difference of about ₦483.7 between the region with the highest price (North Central) and the region with the lowest (South East).
• Households in the North Central region will likely spend a larger portion of their budget on kerosene than those in the South East region.

• Transportation received $6.2 billion dollars, which accounts for 65% of all Chinese loans to Nigeria
• Energy projects received $1.2 billion, highlighting China’s role in Nigeria’s power infrastructure
• Industry and trade/services had the least funding at $368.2 million dollars, reflecting lower Chinese loan priorities in these areas
• China’s loans to Nigeria between 2000 and 2023 have largely focused on infrastructure development, particularly in transportation and energy

• Construction and mining dominate Chinese FDI in Africa, accounting for nearly 60% of the total investments
• Financial intermediation, manufacturing, and commercial services also received $10.96 billion combined, smaller than construction alone
• Leasing and commercial services attracted $2.16 billion, the least among all sectors
• China’s FDI strategy in Africa continues to emphasise resource extraction and infrastructure, reinforcing economic interdependence

• Energy attracted the largest share of Chinese loans to Africa, totalling $62.7 billion across 207 loans
• Transportation received $52.7 billion—the second-highest amount—through 336 loans, making it the most frequently financed sector
• Agriculture ($2.4 billion) and education ($2 billion) received relatively low funding, reflecting China’s focus on infrastructure
• Smaller sectors like non-energy mining and services/social protection had minimal Chinese loan activity

• Over 60% of Kenya’s bank loans for foreign trade were used to fund imports, limiting resources for exports.
• In all six months, exports received less than 40% of the credit allocation, highlighting a significant gap.
• Import credit peaked at 66.23% in June
• The import-export credit ratio remained relatively stable, suggesting an ongoing structural trend in trade financing.
• To balance trade, policies could focus on enhancing export production, incentives for exporters, and easing export credit access.

• The United States leads with a massive $1.1 trillion in trade deficit, over four times larger than India's $245.5 billion deficit
• India and the United Kingdom follow, each exceeding $230 billion in trade deficits, reflecting high import reliance
• The USA’s trade imbalance alone surpasses the combined deficits of the other nine countries on this list
• Six of the top ten countries with the largest deficits are European economies

• FirstBank and Union Bank have operated in Nigeria for over a century, making them the longest-surviving commercial banks
• Three of Nigeria’s largest banks today, GTBank, Zenith Bank, and Access Bank, were founded in the late 20th century
• Citibank is the oldest foreign bank in Nigeria
• Only five banks have existed in Nigeria for over fifty years