Bite-sized Insights about
 
Providing you with data-based insights about things happening around you.
Popular Insights

  • MTN Nigeria has dominated the country's telecommunications market over the years, accounting for the largest market share. All four operators, apart from 9mobile, recorded a significant increase in their subscriber base between May 2014 and March 2024.

    See more
    Only 10% of Nigerians earn above ₦100,000, according to the Nigerian Financial Services Market Report. This aligns with most reports about Nigeria, and it's in sharp contrast to the narratives online.
    See more
  • A Trend of Adult literacy rates of African countries

    Between 2018 and 2021, adult literacy rates across African nations exhibited significant disparities. Seychelles and South Africa led with literacy rates of 96% and 95%, respectively, indicating a high proportion of literate adults. Conversely, Chad had the lowest literacy rate during this period.

    These statistics underscore the uneven progress in educational attainment across Africa, highlighting the need for targeted interventions to improve literacy in lower-performing nations.

    See more

    Inflation rate in Nigeria increased to 31.7% in February 2024. Nigeria has the 13th highest inflation rate out of 186 countries and territories as of February 2024.

    The data showcases Argentina leading with 276%, followed by Lebanon and Syria. Seven of the top fifteen are African.

    See more

  • Nigeria was the seventh most populous nation in the world in 2020, with 206.1 million people. Projected to reach a population of 401.3 million by 2050, Nigeria will rank third after India (1st) and China (2nd). According to Institut national d'études démographiques' projections, Nigeria, Ethiopia, DR Congo, Egypt, Tanzania, and Kenya will be among the world’s top 20 most populous countries by 2050.

    See more
    Top ten African countries by estimated number of films produced annually

    The Nigerian movie industry, mainly financed via public or private funding and international grants, produces the most films in Africa, yearly. Nigeria produced more than double the number of films that the Ghanaian and Kenyan movie industries produce annually.

    See more

  • MTN Nigeria has dominated the country's telecommunications market over the years, accounting for the largest market share. All four operators, apart from 9mobile, recorded a significant increase in their subscriber base between May 2014 and March 2024.

    See more
  • Only 10% of Nigerians earn above ₦100,000, according to the Nigerian Financial Services Market Report. This aligns with most reports about Nigeria, and it's in sharp contrast to the narratives online.
    See more
  • A Trend of Adult literacy rates of African countries

    Between 2018 and 2021, adult literacy rates across African nations exhibited significant disparities. Seychelles and South Africa led with literacy rates of 96% and 95%, respectively, indicating a high proportion of literate adults. Conversely, Chad had the lowest literacy rate during this period.

    These statistics underscore the uneven progress in educational attainment across Africa, highlighting the need for targeted interventions to improve literacy in lower-performing nations.

    See more
Other Insights
 
  • Just 17 out of 54 African countries have launched a national AI strategy.
  • Over 30 countries remain at the early or inactive stage with no clear roadmap.
  • Nigeria, Africa’s most populous nation, is still drafting its AI policy.
  • Leaders include Kenya, Egypt, Ghana, Algeria, Rwanda, and Senegal.
  • Most low-income and post-conflict states like Chad, Somalia, and South Sudan are far behind.
See more
 
  • Access Bank paid the highest total salaries in 2024, amounting to ₦357.6 billion.
  • Stanbic IBTC devoted the largest share of its revenue to salaries at 9.96%, despite a much lower total salary bill than Access or FirstHoldCo.
  • Zenith Bank had one of the highest salary bills (₦137.7 billion) but spent the smallest portion of its revenue on staff at just 3.47%.
  • Wema Bank, though paying the lowest in total salaries (₦33.8 billion), had one of the highest salary-to-revenue ratios at 7.81%.
  • FirstHoldCo, with ₦229.1 billion in staff costs, maintained a moderate salary-to-revenue ratio of 7.14%.
  • The gap between total salary spend and salary-to-revenue ratios reveals more about each bank’s internal cost structure.
See more
 
  • Access Bank led all Nigerian banks with ₦4.9T in gross earnings in 2024, nearly doubling its 2023 performance.
  • FirstHoldCo saw a sharp rise in earnings to ₦3.2T in 2024
  • Zenith Bank grew consistently, crossing the ₦4T mark in 2024 from ₦1T in 2022, showing strong operational expansion.
  • Wema Bank, despite being the smallest, quadrupled its earnings over two years, from ₦0.1T to ₦0.4T.
  • Fidelity and FCMB nearly tripled their gross earnings between 2022 and 2024, showing rising momentum among mid-tier banks.
See more
 
  • Real GDP grew from ₦205.1 trillion in 2019 to ₦217.8 trillion in 2024, a modest 6% rise.
  • Nominal GDP jumped from ₦205.1 trillion to ₦372.8 trillion over the same period, an 82% increase.
  • The gap between nominal and real GDP widened sharply after 2021, reaching ₦155 trillion in 2024.
  • Nominal GDP has grown year-on-year, with the steepest jump between 2023 (₦314.0 trillion) and 2024 (₦372.8 trillion).
  • Inflationary pressures have driven nominal gains, masking subdued real economic expansion.
See more
 
  • FirstBank's planned headquarters will have 43 floors, nearly double UBA‌'s HQ.
  • Among the five FUGAZ banks, three currently have headquarters with 15 floors or fewer.
  • FirstBank’s existing HQ has only 15 floors, showing how big the planned leap is.
  • UBA’s HQ in Marina leads the pack among existing HQs, with 23 floors, followed by Access Bank with 16 floors.
  • The new FirstBank property in Eko Atlantic will be the tallest bank HQ in Nigeria by a wide margin when completed.
See more
 
  • Eskom’s average electricity tariff increased by approximately 162% between 2013/14 and 2023/24.
  • Tariffs are categorized into two groups based on distribution: Local Authority Tariffs and Non-Local Authority Tariffs.
  • Landlight Tariff (Non-Local Authority category) is the highest rate and in 2023/24 it stood at 608.61 c/kWh.
  • Homelight 20A (Block 1) is the lowest tariff also in the non-local authority category, at 168.78 c/kWh in 2023/24.

  • Eskom applies Time-of-Use (ToU) pricing, where tariffs vary by Time of day (peak, standard, off-peak periods) and Demand season (high-demand season: June to August and Low-demand season: September to May)

See more
     
  • Jewellery demand made up 81.35% of Egypt’s total gold demand between 2010 and 2024.
  • The highest jewellery demand was recorded in 2010 at 53 tonnes, and no year since has reached that level.
  • Jewellery demand declined by 50.75% between 2010 and 2024.
  • Bar and coin demand saw a sharp 700% increase between 2021 and 2022.
  • In 2023, bar and coin demand hit a record high of 30.3 tonnes and, for the first time, exceeded jewellery demand.
  • Overall, bar and coin demand rose by 943.48% between 2010 and 2024.
See more
     
  • The North Central zone accounts for the highest share of road accidents in Nigeria, contributing 34.55% of the national total.
  • Within the North Central zone, Abuja (FCT) recorded the most accidents, with a cumulative total of 8,133 cases.
  • The South West zone ranks second, responsible for 25.78% of all accidents nationwide, with Ogun State leading the zone at 6,418 accidents.
  • The South East zone has the lowest share, contributing just 5.38% of total accidents from Q2 2020 to Q2 2024.
  • Enugu State, the highest contributor within the South East, accounts for only 1.59% of the national total.
See more
 
  • Venezuela and Iran offer diesel at nearly free prices, charging just $0.004 and $0.006 per litre respectively, the lowest globally.
  • Libya leads Africa with diesel priced at only $0.028 per litre, making it the third cheapest worldwide.
  • Six African countries—Libya, Algeria, Egypt, Angola, Nigeria and Sudan—feature in the global top 20 for the lowest diesel prices.
  • Nigeria ranks 17th globally, with diesel priced at $0.658 per litre, despite recent subsidy removals and price hikes.
See more
 
  • Over six MPC meetings from February to November 2024, the MPR rose cumulatively by 875 basis points, ending the year at 27.5%.
  • The pace of increases slowed after March: from 200 bps (Feb–Mar) to just 25 bps (Sept–Nov), reflecting a tapering hike strategy.
  • Since November 2024, the CBN has maintained the rate at 27.5% across four consecutive MPC meetings into July 2025.
  • The 2024 cycle was dominated by aggressive rate hikes aimed at stabilising inflation and exchange rate volatility.
  • The CBN’s interest rate strategy appears more restrained in 2025, indicating a possible pause phase in the monetary policy cycle.
See more
 
  • Anambra’s IGR grew sevenfold in 16 years, reaching ₦42 billion in 2024.
  • A ₦26B to ₦42B jump in just six years (2018–2024) indicates accelerating growth.
  • The most dramatic jumps occurred post-2018, pointing to possibly new fiscal reforms or policies.
  • Between 2014 and 2024, revenue grew by over 300%, from ₦10B to ₦42B.
See more
 
  • Gabon leads with 18.7% of its population being immigrants, the highest in Africa.
  • Equatorial Guinea follows with 16.4%, also driven by oil-related labor demand.
  • Djibouti (12.1%) and Libya (12.0%) round out the top four with migrant shares over 10%.
  • South Africa has the highest immigrant population in Southern Africa at 4.8%.
  • Most African nations still record under 5% immigrant share, indicating modest migration levels continent-wide.
See more
1 2 3 … 88
  • Just 17 out of 54 African countries have launched a national AI strategy.
  • Over 30 countries remain at the early or inactive stage with no clear roadmap.
  • Nigeria, Africa’s most populous nation, is still drafting its AI policy.
  • Leaders include Kenya, Egypt, Ghana, Algeria, Rwanda, and Senegal.
  • Most low-income and post-conflict states like Chad, Somalia, and South Sudan are far behind.
Read more
  • Access Bank paid the highest total salaries in 2024, amounting to ₦357.6 billion.
  • Stanbic IBTC devoted the largest share of its revenue to salaries at 9.96%, despite a much lower total salary bill than Access or FirstHoldCo.
  • Zenith Bank had one of the highest salary bills (₦137.7 billion) but spent the smallest portion of its revenue on staff at just 3.47%.
  • Wema Bank, though paying the lowest in total salaries (₦33.8 billion), had one of the highest salary-to-revenue ratios at 7.81%.
  • FirstHoldCo, with ₦229.1 billion in staff costs, maintained a moderate salary-to-revenue ratio of 7.14%.
  • The gap between total salary spend and salary-to-revenue ratios reveals more about each bank’s internal cost structure.
Read more
  • Access Bank led all Nigerian banks with ₦4.9T in gross earnings in 2024, nearly doubling its 2023 performance.
  • FirstHoldCo saw a sharp rise in earnings to ₦3.2T in 2024
  • Zenith Bank grew consistently, crossing the ₦4T mark in 2024 from ₦1T in 2022, showing strong operational expansion.
  • Wema Bank, despite being the smallest, quadrupled its earnings over two years, from ₦0.1T to ₦0.4T.
  • Fidelity and FCMB nearly tripled their gross earnings between 2022 and 2024, showing rising momentum among mid-tier banks.
Read more
  • Real GDP grew from ₦205.1 trillion in 2019 to ₦217.8 trillion in 2024, a modest 6% rise.
  • Nominal GDP jumped from ₦205.1 trillion to ₦372.8 trillion over the same period, an 82% increase.
  • The gap between nominal and real GDP widened sharply after 2021, reaching ₦155 trillion in 2024.
  • Nominal GDP has grown year-on-year, with the steepest jump between 2023 (₦314.0 trillion) and 2024 (₦372.8 trillion).
  • Inflationary pressures have driven nominal gains, masking subdued real economic expansion.
Read more
  • FirstBank's planned headquarters will have 43 floors, nearly double UBA‌'s HQ.
  • Among the five FUGAZ banks, three currently have headquarters with 15 floors or fewer.
  • FirstBank’s existing HQ has only 15 floors, showing how big the planned leap is.
  • UBA’s HQ in Marina leads the pack among existing HQs, with 23 floors, followed by Access Bank with 16 floors.
  • The new FirstBank property in Eko Atlantic will be the tallest bank HQ in Nigeria by a wide margin when completed.
Read more
  • Eskom’s average electricity tariff increased by approximately 162% between 2013/14 and 2023/24.
  • Tariffs are categorized into two groups based on distribution: Local Authority Tariffs and Non-Local Authority Tariffs.
  • Landlight Tariff (Non-Local Authority category) is the highest rate and in 2023/24 it stood at 608.61 c/kWh.
  • Homelight 20A (Block 1) is the lowest tariff also in the non-local authority category, at 168.78 c/kWh in 2023/24.

  • Eskom applies Time-of-Use (ToU) pricing, where tariffs vary by Time of day (peak, standard, off-peak periods) and Demand season (high-demand season: June to August and Low-demand season: September to May)

Read more
1 2 3 … 176
Can’t find what you’re looking for? Please fill the form below
Contact Form Demo
SIGN UP TO OUR NEWSLETTER
Get periodic updates about the African startup space, access to our reports, among others.
Subscribe Here
Subscription Form
A product of Techpoint Africa. All rights reserved