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  • 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.
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    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.

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  • The 2024 Global Peace Index reveals a decline in peacefulness in 97 countries, the highest since the index began.

    Nigeria is among the nations affected by regional conflicts and rising violence. With a peace index score of 2.91, Nigeria is facing increasing challenges.

    A deteriorating peace score impacts foreign investment and economic stability. Global economic losses due to violence reached $19.1 trillion in 2023.

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    The FAAC's revenue distribution from 2017 to August 2023 highlights the dominance of Delta, Akwa Ibom, Rivers, and Bayelsa states in allocations. Despite Lagos' economic prominence, it ranked fifth. Here is the distribution of revenue among states between 2017 and August 2023.

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  • 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.

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    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.

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  • 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

  • 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

  • The 2024 Global Peace Index reveals a decline in peacefulness in 97 countries, the highest since the index began.

    Nigeria is among the nations affected by regional conflicts and rising violence. With a peace index score of 2.91, Nigeria is facing increasing challenges.

    A deteriorating peace score impacts foreign investment and economic stability. Global economic losses due to violence reached $19.1 trillion in 2023.

    See more
Other Insights
 
  • 11 African currencies featured among the 25 listed.
  • Somalia had the highest exchange rate among the African currencies highlighted, at 24,300 shillings per US$1.
  • Nigeria’s naira averaged ₦1,518 per US$1 in 2025.
  • 7 of the 11 African countries were in Eastern Africa, based on the UN M49 subregional classification.
  • Iran was the global outlier, averaging 711,418 rials per US$1, nearly eight times Lebanon’s 89,500.
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  • Agriculture accounted for 25.8% of global employment in 2025, meaning roughly one in four employed people worked in the sector.
  • Burundi had the highest share among the countries highlighted, at 85.3%, followed by Mozambique and Niger at about 73% each.
  • 19 African countries had more than half of their employment in agriculture.
  • Sub-Saharan Africa’s agricultural employment share was 49.3%, nearly twice the global average.
  • Nigeria’s share stood at 33.5%, above the global average but well below the Sub-Saharan African average.
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  • Nigeria’s multidimensional poverty rate rose from 33.0% in 2021 to 38.7% in 2024, affecting 90.1 million people.
  • The 2024 comparative estimate puts nearly 4 in 10 Nigerians in multidimensional poverty.
  • The broader national estimate is higher at 48.7%, or approximately 113 million people.
  • Multidimensional poverty measures deprivation in health, education and living standards, rather than income alone.
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  • Software engineers in the lowest-paid quarter (₦730k) out-earn top-10% medical officers (₦520k).
  • Software engineers earn 1.9× as much as medical officers at entry, 2.2× at the median and 4.4× at the top 10%.
  • Software engineer pay more than triples from entry to top 10%, while medical officer pay rises by about a third.
  • This data covers two roles only, with 50 medical officers across five employers, and all figures are monthly gross pay.
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  • Lagos recorded an 82.3% numeracy rate, compared with 0.8% in Jigawa.
  • Nigeria’s foundational numeracy rate was 25.3% in 2021.
  • Fifteen of the 18 jurisdictions above the national average were in the South.
  • In 11 northern states, fewer than 12% of children had foundational numeracy skills.
  • Taraba’s numeracy estimate was 9.5%, with a 95% confidence interval of 6.0%–14.7%.
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  • South Africa held the largest Chinese FDI stock in Africa at $6.25 billion in 2024.
  • South Africa, DR Congo and Nigeria held 30% of Africa’s Chinese FDI stock.
  • The top 10 countries accounted for 64% of the continent’s total Chinese FDI stock.
  • Niger led the remaining top 10 countries with $2.45 billion, followed by Mozambique at $2.28 billion.
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  • China's FDI stock in Africa rose 94-fold, from $491 million in 2003 to $46.1 billion in 2018.
  • By 2024, the stock had recovered to $43.8 billion, still 5% below its 2018 peak.
  • Africa accounted for just 1.4% of China's $3.14 trillion global FDI stock in 2024.
  • Nigeria's Chinese FDI stock fell from a 2017 peak of $2.86 billion to $2.72 billion in 2024.
  • African countries recorded a net $2.31 billion decline in Chinese FDI stock between 2018 and 2024.
  • Niger recorded the largest increase, from $758 million in 2018 to $2.45 billion in 2024.
  • Zambia recorded the largest decline, from $3.52 billion in 2018 to $1.70 billion in 2024.
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  • Lagos recorded an 87% reading proficiency rate, against 2% in Jigawa.
  • The gap between Lagos and Jigawa was 85 percentage points.
  • Nigeria’s national reading proficiency rate was 26.8%.
  • Eighteen of 37 areas exceeded the national average.
  • Kwara and the FCT were the only areas outside the three southern zones above the national average.
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  • ATMs are down 11% since 2019, but per 100,000 adults they’re down 25% (16.4 to 12.3).
  • The count has been flat since 2023 (17,377 to 17,404), yet density kept falling.
  • Density has fallen four years running and is the lowest since 2012.
  • 2025 reversed the small 2024 uptick (17,607 to 17,404).
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  • Six states generated about ₦656 billion through MDAs in 2025, nearly half of all MDA revenue.
  • The number of states where MDAs accounted for over half of IGR fell from seven in 2024 to six in 2025.
  • Enugu’s MDA share rose from 82.9% in 2024 to 87.3% in 2025, widening its lead.
  • Kwara, Katsina and Osun recorded MDA shares of 61.6%, 60.1% and 58.5%, respectively.
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  • Lagos, Rivers and the FCT collected 63.5% of state-level PAYE in 2025.
  • Lagos collected ₦993.3 billion in PAYE, more than the next five jurisdictions combined.
  • The top 10 jurisdictions accounted for 81.5% of ₦2.636 trillion in total PAYE.
  • The bottom five jurisdictions collected ₦47.0 billion combined, less than 2% of the total.
  • Delta collected ₦139.7 billion, less than half of the FCT’s ₦320.1 billion.
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  • Postgraduate enrolment fell by 19,540 in one year, accounting for 96% of Nigeria’s total decline.
  • Nigerian postgraduate enrolment remained 3.6 times its 2019/20 level despite the recent decline.
  • Nigeria fell from third to fourth among the UK’s largest sources of international students.
  • Nepal nearly doubled its enrolment to 24,435, moving from eighth to fifth.
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1 2 3 … 135
  • 11 African currencies featured among the 25 listed.
  • Somalia had the highest exchange rate among the African currencies highlighted, at 24,300 shillings per US$1.
  • Nigeria’s naira averaged ₦1,518 per US$1 in 2025.
  • 7 of the 11 African countries were in Eastern Africa, based on the UN M49 subregional classification.
  • Iran was the global outlier, averaging 711,418 rials per US$1, nearly eight times Lebanon’s 89,500.
Read more
  • Agriculture accounted for 25.8% of global employment in 2025, meaning roughly one in four employed people worked in the sector.
  • Burundi had the highest share among the countries highlighted, at 85.3%, followed by Mozambique and Niger at about 73% each.
  • 19 African countries had more than half of their employment in agriculture.
  • Sub-Saharan Africa’s agricultural employment share was 49.3%, nearly twice the global average.
  • Nigeria’s share stood at 33.5%, above the global average but well below the Sub-Saharan African average.
Read more
  • Nigeria’s multidimensional poverty rate rose from 33.0% in 2021 to 38.7% in 2024, affecting 90.1 million people.
  • The 2024 comparative estimate puts nearly 4 in 10 Nigerians in multidimensional poverty.
  • The broader national estimate is higher at 48.7%, or approximately 113 million people.
  • Multidimensional poverty measures deprivation in health, education and living standards, rather than income alone.
Read more
  • Software engineers in the lowest-paid quarter (₦730k) out-earn top-10% medical officers (₦520k).
  • Software engineers earn 1.9× as much as medical officers at entry, 2.2× at the median and 4.4× at the top 10%.
  • Software engineer pay more than triples from entry to top 10%, while medical officer pay rises by about a third.
  • This data covers two roles only, with 50 medical officers across five employers, and all figures are monthly gross pay.
Read more
  • Lagos recorded an 82.3% numeracy rate, compared with 0.8% in Jigawa.
  • Nigeria’s foundational numeracy rate was 25.3% in 2021.
  • Fifteen of the 18 jurisdictions above the national average were in the South.
  • In 11 northern states, fewer than 12% of children had foundational numeracy skills.
  • Taraba’s numeracy estimate was 9.5%, with a 95% confidence interval of 6.0%–14.7%.
Read more
  • South Africa held the largest Chinese FDI stock in Africa at $6.25 billion in 2024.
  • South Africa, DR Congo and Nigeria held 30% of Africa’s Chinese FDI stock.
  • The top 10 countries accounted for 64% of the continent’s total Chinese FDI stock.
  • Niger led the remaining top 10 countries with $2.45 billion, followed by Mozambique at $2.28 billion.
Read more
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