The boneless beef price recorded the largest increase of more than ₦3,620 on average, followed closely by dried catfish (+₦3,619.35) and frozen chicken (+₦3,583.82).
Prices of major animal proteins have more than doubled, with price increases ranging from ₦1,900 to ₦3,630 on average.
The top 20 food items saw price hikes of at least ₦1,900.
The cost of a medium-sized crate of eggs more than tripled between May 2023 and December 2024.
Spotify’s expansion into Nigeria in 2021 opened the market to global streaming, contributing to the rapid rise of Nigerian artistes on the platform.
Nigerian artistes saw significant revenue growth, earning over ₦11 billion in 2022 and exceeding ₦25 billion in streaming royalties by 2023.
Rema’s "Calm Down" became the first African song to surpass one billion streams, with the milestone first reached in 2023.
Spotify’s influence on Afrobeats has been reinforced through curated campaigns like "Afrobeats: Journey of a Billion Streams" and multiple industry events.
Nigerian music continues to dominate local streaming, with Asake ranked as the country’s most-streamed artist on Spotify in 2024.
Spotify has increased its investment in Nigeria’s creative industry by hosting major events, such as the annual Wrapped Party and the two-day Afrobeats Celebration Event in 2023.
Spotify’s partnership with United Masters in 2025 signals continued support for emerging Nigerian artistes, strengthening global opportunities for independent talent.
Lagos led Nigeria’s box office with ₦5.8 billion in revenue, generating more revenue than all other regions combined.
The South-South emerged as the strongest market outside Lagos, contributing ₦2.1 billion, nearly 50% more than the South-West.
Abuja outperformed all three northern zones combined, earning ₦852 million, which is nearly four times their total revenue.
Cinema penetration in northern Nigeria remains weak, with the North-East contributing only ₦2.4 million—less than 0.05% of the national total, highlighting a significant gap in cinema infrastructure and audience engagement.
Nigeria alone holds 89% of all cinema locations and 92% of all screens in the region.
Ghana is the second-largest market but has only seven locations and 18 screens, significantly trailing behind Nigeria.
Sierra Leone has four cinema locations and eight screens, while Liberia has just one location with two screens, highlighting the limited cinema infrastructure in both countries.
The overwhelming concentration of cinema infrastructure in Nigeria reflects its established film industry and audience demand.
