Nigeria and Egypt are the only African countries projected to be in the top 15 economies by the year 2075
Per projections made by Goldman Sachs, China should lead the global economy in terms of GDP by the year 2075, closely followed by India and the US. Nigeria and Egypt are the only African countries expected to be in the top 15 by that time.
Kenya received $377.8 million (Sh50 billion) from a consortium of European agencies to build a Bus Rapid Transport (BRT) lane in Nairobi in 2023 which is also the first electric bus lane in the East Africa region. The European Union will provide $48.9 million (Sh6.47 billion) in grants, the European Investment Bank (EIB) and Agence Française de Développement (AFD) will jointly support the project with $256.8 million (Sh33.9 billion), and Kenya will bring $72.0 million (Sh9.5 billion).
According to the AfrAsia Bank Africa Wealth Report 2021, the total private wealth — assets held by individuals — in Africa as of December 2020 had decreased by approximately 9% from 2019. Here is the total private wealth held by individuals in Africa from 2010 to 2020.
Between 2017 and 2020, Nigeria’s announced Foreign Direct Investment figures were highest in 2018. However, there have been significant differences between investment announcements and FDI inflow over the years. Here are the FDI announcements and FDI inflow from 2017 to 2020. A destination analysis shows that Bayelsa State leads investment destinations with 36% of the total investments.
South Africans held more private wealth than people in Egypt, Nigeria, and Morocco combined. Africa's most populous country and home to the continent's richest man, Nigeria, ranked third after Egypt. Here are the top African countries by private wealth held as of December 2020.
States and the FCT accounted for ₦4.12 trillion — 19.98% of Nigeria's Total Domestic Debt and 12.45% of the Total Public Debt, with Lagos having the most outstanding debt of ₦507.4 billion — 12.3% of the Total Debt Stock by states and the FCT.
Nigeria's population has increased from 45M at independence in 1960 to an estimated 206M as of 2020. Nigeria's GDP recorded its biggest year-on-year increase in 1981. Today, being her independence day, we present Nigeria's GDP and population growth rate since 1960.
Nigeria's Federation Account Allocation Committee (FAAC) shared a total of ₦4.19 trillion among 36 states and the FCT in 2020. Lagos State made ₦419 billion in internally generated revenues (IGR) — 32% of the IGR by all states combined.
Lagos contributed the most IGR among all states in the country but got an allocation 28.5% less than its IGR. Here is a breakdown of the Federation Account Allocation and Internally Generated Revenue by South-Western states in 2020.
Rivers State generated the highest revenue among the South-Southern states in 2020, making it the second top contributor among all states. Delta State received the highest allocation from the FAAC in the region.