People above 40 stay longer with companies

Only a small share of workers under 30 spend more than three years with a company. This trend changes with an increase in age range and explains why employees in Nigeria above 40 are more likely to remain with a company for extended periods than younger workers.

Source:

The Nigerian Workplace Report

Period:

2023/2024
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In 2024, Transcorp Hotels Plc's revenue and profit grew by 69% and 138%, respectively, from a period of significant losses in 2020
Key takeaways:
  • Revenue grew by 402% over a decade, from ₦14 billion in 2015 to ₦70 billion in 2024.
  • The company witnessed an extraordinary post-pandemic recovery, with 111% revenue growth in 2021.
  • There was a consistent strong performance from 2021-2024, with revenue more than tripling.
  • Transcorp Hotels recorded a profit of ₦14.9 billion in 2024, representing a 326% increase from 2015.
  • Despite setbacks, Transcorp Hotels’ performance improved notably from 2021 onward, marking strong growth.
Generation Alpha has now surpassed all other generations, making up 24.4% of the global population
  • Generation Alpha is the largest generation, making up 24.4% of the global population.
  • Gen Z and Millennials still hold strong influence, comprising 22.9% and 21.2% of the global population.
  • The Baby Boomer generation (12.8%) is gradually declining, which will impact industries like retirement services, healthcare, and wealth distribution.
  • The Silent Generation is now just 2% of the population, highlighting the demographic shift away from the older generations.
  • Generation X, at 16.7%, remains a crucial but often overlooked group, balancing leadership roles in business and governance while supporting both older and younger generations.
  • The rise of Generation Alpha signals the dawn of an even more digital-native world, shaping the future of education, marketing, and work environments.
  • With Millennials, Gen Z, and Gen Alpha making up nearly 70% of the population, the global workforce, economy, and social dynamics will see rapid transformation in the coming years.
2.87% of the world, which amounts to 235 million people, reside in Nigeria as of January 2025
  • India is now the world’s most populous country, surpassing China with 17.78% of the global population.
  • China closely follows with 17.30%, showing that even though its population growth is slowing, it remains one of the most dominant globally.
  • The United States (4.23%) remains the most populous Western country, reinforcing its continued economic and political significance.
  • Nigeria leads Africa with 2.87% of the global population, showing that Africa's rising demographic weight will be a major factor in future economic and workforce trends.
  • Ethiopia (1.63%) is another African country on the rise, showing how Africa’s demographic shift is accelerating beyond just Nigeria.
  • Russia (1.76%) is the only European country on the list, underscoring Europe’s declining share in global population dynamics compared to the rapid growth of Asian and African nations.
Southern Africa contributes only 4.8% to Africa's 1.5 billion population
  • Eastern Africa is the most populous region, making up 33.09% of Africa’s total population, with over 507 million people.
  • Together, Eastern and Western Africa house over 63% of Africa’s total population, indicating where much of the continent’s human capital and economic activity will be concentrated.
  • Northern Africa has 274.1 million people (17.89%), while Central Africa has 216.3 million (14.11%), placing them in the mid-range of Africa’s population distribution.
  • Southern Africa is by far the least populous region, contributing just 4.8% (73.6 million people) to Africa’s 1.5 billion total.
  • The population contrast across regions highlights key differences in urbanisation, economic opportunities, and development needs.
  • Understanding Africa’s population distribution is crucial for businesses, policymakers, and investors, as future economic growth, consumer markets, and labour forces will be heavily influenced by these demographic trends.
Approximately 6 out of every 10 people in the world reside in Asia
  • Asia remains the world's population giant, housing nearly 59% of the global population.
  • Africa’s population boom is accelerating, contributing 18.7% of the world’s people.
  • Europe is shrinking in global demographic weight, making up only 9.09% of the world’s people.
  • Oceania remains sparsely populated, with just 0.57% of the global population.
  • Demographic trends will shape economic power, as nations with younger populations could become economic engines if properly harnessed.
  • Urbanisation and resource allocation will become critical, especially in Asia and Africa, where rising populations will put pressure on housing, food, and infrastructure.
Nearly half of the global population (47.5%) is aged between 20 and 54
  • Nearly half of the global population is aged between 20 and 54, making this group the primary driver of economic activities worldwide.
  • Individuals under 19 years old make up 32.9% of the total global population, highlighting the need for sustained investments in education and child welfare.
  • Over 19% of the population is aged 55 and above, emphasising the need for healthcare, retirement planning, and age-friendly policies.
  • With 2.10 billion people, the 35-54 group represents the backbone of global leadership, corporate decision-making, and financial stability.
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