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Monthly internet data consumption in Nigeria (2024)

Key takeaways:

Nigeria’s internet data usage increased from 721,522 TB in January to 973,455.35 TB in December, reflecting a 35% growth over the year.
The peak in consumption occurred in December 2024, while January 2024 recorded the lowest usage.
Despite a consistent upward trend during the year, a decline in internet usage was observed in February (694,804.54 TB) and September (850,249.09 TB).
The most significant jump in Nigeria's internet consumption was observed between November and December, with an increase of approximately 95,000 TB.
Throughout 2024, Nigeria experienced an average monthly increase of about 23,000 TB.
Nigeria's total internet data consumption reached 9.76 million terabytes (TB) in 2024, representing a 34% increase compared to 2023.

Finance and Insurance sectors lead with 30% growth in H1 2024

While Agriculture and Telecommunications remain the largest contributors to Nigeria's GDP in H1 2024, the Finance & Insurance sector stands out with a 30% growth rate. Other sectors, including Water & Waste Management and Mining & Quarrying, also experienced significant growth.

Nigeria's stock market dominates foreign investments inflow with $48 billion in shares over ten years

Nigeria's economy attracted $114 billion in the past decade from foreign investors. They invested $48 billion in shares, making up 42% of total capital imports. The Banking and Finance sectors followed with $21.6 billion and $15.7 billion, respectively, accounting for a combined 33%. Manufacturing, Telecommunications, and Servicing sectors collectively attracted $19.2 billion. Businesses related to Trading, Agriculture, and Oil and Gas each received 2%. This distribution underscores investors' confidence in Nigeria's financial services sector over others.