Economy Agriculture How much does agriculture contribute to Nigeria’s GDP? Source Nigerian Gross Domestic Product Report Q1 2023 (Nigeria National Bureau of Statistics) Short answer How much does agriculture contribute to Nigeria’s GDP? 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... Back Full answer
Natural resources & energy Economy What contribution does the oil sector make to Nigeria’s GDP? Source National Bureau of Statistics: Nigerian Gross Domestic Product Report Q2 2022 Short answer What contribution does the oil sector make to Nigeria’s GDP? 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 ... Back Full answer
#YouAsked Economy What is Nigeria’s foreign trade balance? Source National Bureau of Statistics: Foreign Trade in Goods Statistics (Q2 2022) Short answer What is Nigeria’s foreign trade balance? 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. ... Back Full answer
#YouAsked Economy What is Nigeria’s GDP per capita? Source World Bank: GDP per capita (current US$) - Nigeria Short answer What is Nigeria’s GDP per capita? 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 ... Back Full answer
Economy What is Nigeria’s youth unemployment rate? Source The World Bank: Unemployment, youth total (% of total labour force ages 15-24) - Nigeria Short answer What is Nigeria’s youth unemployment rate? 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%. ... Back Full answer
Economy What is Nigeria’s national debt? Source National Bureau of Statistics: Nigeria's Total Public Debt as at June 30, 2022 Short answer What is Nigeria’s national debt? Nigeria's Total Debt Stock (Foreign & Domestic), as of 30 June 2022 stood at N45.5billion (US$103.3 million). ... Back Full answer
#YouAsked Economy What is the cost of fuel in Nigeria? Source National Bureau of Statistics: Premium Motor Spirit (Petrol) Price Watch (August 2022) Short answer What is the cost of fuel in Nigeria? 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). ... Back Full answer
Economy How much of Nigeria’s oil assets are held by individuals? Source Africa Check FACTSHEET: What the numbers say about the fortunes of Nigeria’s women Short answer How much of Nigeria’s oil assets are held by individuals? 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... Back Full answer
Economy How many small to medium enterprises (SMEs) are there in Nigeria? Source Africa Check FACTSHEET: What the numbers say about the fortunes of Nigeria’s women Short answer How many small to medium enterprises (SMEs) are there in Nigeria? 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. ... Back Full answer