Facts in Q&A format

Agriculture contributed 19.63% to nominal GDP in the first quarter of 2023. This figure was lower than the share recorded in the first quarter of 2022 and in the fourth quarter of 2022 which were 21.09% and 24.90% respectively. However, the sector contributed 21.66% of total GDP in real terms in the...

In nominal terms, Nigeria's GDP in the second quarter of 2022 stood at N45 million. The oil sector contributed 6.3% (N2.85 million) to the total real GDP in the second quarter of 2022, down from the figures recorded in the corresponding period of 2021 and the preceding quarter, where it contributed ...

The second quarter of 2022 comprised exports valued at N7.4 trillion and imports worth N5.4 trillion. The country's trade balance was therefore N2 trillion. ...

The country’s GDP per capita (nominal gross domestic product divided by the mid-year population as per World Bank estimates) was US$2,085 in 2021 ...

The World Bank defines “youth” as people aged between 15 and 24. In 2021, the unemployment rate among young people in Nigeria was 19.6%. ...

Nigeria's Total Debt Stock (Foreign & Domestic), as of 30 June 2022 stood at N45.5billion (US$103.3 million). ...

The average price paid by consumers for Premium Motor Spirit (Petrol) for August 2022 was N189.46, indicating a 14.89% increase when compared to the value recorded in August 2021 (N164.91). ...

According to the Organization of the Petroleum Exporting Countries (Opec), Nigeria has 36.9 billion barrels of crude oil reserves. These are held in oil blocks owned by both companies and individuals. Exploration and crude export activities in these oil blocks sometimes use a joint venture, an ag...

In Nigeria, the official statistics agency regards small and medium enterprises as businesses that employ 10 to 199 people. A national survey in 2017 found that Nigeria had 73,081 such businesses. ...