Economy What is Nigeria’s public debt? Source National Bureau of Statistics: Nigerian Domestic & Foreign Debt (Q2 2023) Short answer What is Nigeria’s public debt? Nigeria's public debt stock, which includes external and domestic debt, stood at N87.38 trillion ($113.42 billion) in Q2 2023, up from N49.85 trillion ($108.30 billion) in Q1 2023, indicating a quarter-on-quarter growth of 75.27%. ... Back Full answer
#YouAsked Economy What is Nigeria’s balance of trade? Source National Bureau of Statistics: Foreign Trade in Goods Statistics (Q2 2023) Short answer What is Nigeria’s balance of trade? In the second quarter of 2023, Nigeria’s total trade balance was N12,741.96 billion. Total exports amounted to t N7,015.71 billion and total imports were N5,726.25 billion. ... Back Full answer
#YouAsked Economy How much does fuel cost in Nigeria? Source National Bureau of Statistics: Premium Motor Spirit (Petrol) Price Watch (November 2023) Short answer How much does fuel cost in Nigeria? The average retail price paid by consumers for Premium Motor Spirit (petrol) in November 2022 was N202.48,a 29.81% increase compared to the value in November 2021 (N167.60). ... Back Full answer
#YouAsked Economy What is Nigeria’s GDP per capita? Source World Bank: GDP per capita (current US$) - Nigeria Short answer What is Nigeria’s GDP per capita? The country’s GDP per capita (nominal GDP divided by the mid-year population) was US$2,184 in 2022 as per World Bank estimates. ... Back Full answer
Agriculture Which agricultural commodity has the highest trade value in Nigeria? Source Foreign Trade in Goods Statistics (Q3 2023) (Nigeria National Bureau of Statistics) Short answer Which agricultural commodity has the highest trade value in Nigeria? In the third quarter of 2023 ‘superior quality Cocoa beans’ had the highest export value in Nigeria at N42.24 billion. This was followed by other cut flowers and flower buds’ with N36.32 billion and ‘Sesamum seeds’ with N23.22 billion. Topagriculturalimports in the third quarter of 2023 in... Back Full answer
Natural resources & energy Economy What is the contribution of the oil sector to Nigeria’s GDP? Source National Bureau of Statistics: Nigerian Gross Domestic Product Report Q3 2023 Short answer What is the contribution of the oil sector to Nigeria’s GDP? In nominal terms, Nigeria's GDP stood at N60.66 trillion in the third quarter of 2023. The oil sector contributed 5.48%) to the total real GDP that quarter, lower than the 5.66% figure recorded in the corresponding period of 2022, and also less than in the preceding quarter, when it contributed 5.34... Back Full answer
Agriculture What is Nigeria’s biggest agricultural export? Source Foreign Trade in Goods Statistics (Q3 2023) (Nigeria National Bureau of Statistics) Short answer What is Nigeria’s biggest agricultural export? Raw cocoa beans are Nigeria's largest agricultural export commodity. The crop accounts for N42.24 billion of the country’s total agricultural exports as of the third quarter of 2023. ... Back Full answer
Economy What is the youth unemployment rate in Nigeria? Source The World Bank: Unemployment, youth total (% of total labor force ages 15-24) - Nigeria Short answer What is the youth unemployment rate in Nigeria? The World Bank defines youth as people between the ages of 15 and 24. In 2021, the unemployment rate among young people in Nigeria was 19.6%. ... Back Full answer
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