National Bureau of Statistics, Nigeria

Balance of Payments, BPM6, Nigeria

In May 2023, the headline inflation rate increased to 22.41% relative to April 2023 headline inflation rate which was 22.22%. Looking at the movement, the May 2023 inflation rate showed an increase of 0.19% points when compared to April 2023 headline inflation rate. Similarly, on a year-on-year basis, the headline inflation rate was 4.70% points higher compared to the rate recorded in May 2022, which was (17.71%). This shows that the headline inflation rate (year-on-year basis) increased in the month of May 2023 when compared to the same month in the preceding year (i.e., May 2022). On a year-on-year basis, the headline inflation rate was 4.70% points higher compared to the rate recorded in May 2022, which was (17.71%). This shows that the headline inflation rate (year-on-year basis) increased in the month of May 2023 when compared to the same month in the preceding year (i.e., May 2022).

Financial Sector - Financial Institutions Breakdown of Nigeria, 2013

Nigeria: Gross Domestic Product (GDP) Gross Domestic Product for Nigeria  

Nigeria: Gross Domestic Product (Expenditure and Income Approach)In the first quarter of 2022, Nigeria real GDP at basic prices grew by 3.11% on a year-on-year basis showing a higher growth rate compared to the corresponding period of 2021. Growth of the Q2 of 2022 remained positive at 3.54%, though lower compared to the Q2 growth of 2021 (5.01%). However, relative to the Q1 and Q2 of 2021, the performance in 2022 indicates an increase of 2.60% points in the Q1 2022 growth rate and a decrease of 1.47% points in Q2 2022. 

Data cited at: https://nigeria.opendataforafrica.org/NGJOBCRTDR2016 Jobs Created, Nigeria

Abridged Labor Force Survey Under Covid-19 

MSMEs Contribution to National GDP of Nigeria, 2013

 

Notes:- I. In 2017, the nominal gross domestic product for the 22 states (for which data is currently available) stood at N63.8trillion, or 56% of Nigeria nominal gross domestic product in that year. ii. By sector, the 22 states accounted for 57%, 77% and 48% of agriculture, industry and services GDP at the national level respectively. Among the 22 states, however, services sector accounted for 67%, while agriculture accounted for 22% and industry, 11%. iii. Among the 22 states, FCT had the highest gross domestic product at N10.6 trillion, or 17% of total states GDP. This was followed by Akwa-Ibom and Rivers States, each with 8% of total states GDP . iv. In the FCT, services accounted for 81% of GDP while industry and agriculture accounted for 18% and 10% respectively. In Akwa-Ibom, however, industry accounted for 65% while services and agriculture accounted for 19% and 16% respectively. v. Across the 22 states, the non-oil sector represented 98% of total states GDP while the oil sector accounted for only 2%. vi. The 6 states with the highest nominal GDP in 2017 – FCT, Akwa-Ibom, Rivers, Delta, Bayelsa, Anambra – accounted for about 50% of the total states GDP, or 27% of Nigeria nominal GDP, in 2017.”

Nigeria: Summary of Foreign Trade