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  • The top ten most populous countries as of 2022 emitted a total of 23b tonnes of CO2 from fossil fuels, with China accounting for 49%, and the US, 22%. Pakistan, Nigeria, and Bangladesh each contributed less than 1% of the total.

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    President Tinubu was recently elected to take over from President Umaro Embaló of Guinea-Bissau as ECOWAS Chairman, making him the 9th from Nigeria. Since its inception, new chairmen have emerged 36 times, with Nigeria producing the most chairmen. Four countries in the ECOWAS region have collectively produced more than half of the chairmen since the organisation's founding, with each contributing multiple chairmen. Cape Verde is the only member country yet to produce a chairman.

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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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  • 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.

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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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  • In the US fiscal year 2022, 26% of Nigerians who applied for a US visitor visa were denied, marking the lowest refusal rate in 17 years. After a steady refusal rate of between 32% and 38% from 2007 to 2015, there was an increase to 67% over four consecutive years.
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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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  • 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
 
Apart from Lagos, the FCT's share of the Federation Account Allocation was also significantly lower than its contribution to the Federation Accounts. 
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Nigeria was ranked 146 among 163 nations and territories in the 2021 Global Peace Index. With rising conflicts in the country, we consider the total reported deaths by geopolitical zone caused by social, political, and economic grievances between May 2011 and July 2021.

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VAT in Nigeria was increased to 7.5% from 5%, effective from January 13, 2020. Though the increase didn’t affect Q1 2020’s figures that much, figures from Q1 2021 exceed Q1 2020’s by 53%. Here’s the total VAT generated for Q1 of the past ten years.

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Of the total VAT generated in Q1 2021, Non-Import (foreign) VAT recorded a 116% increase — the highest compared with the same period of 2020. Here is a breakdown of the VAT generated by sectors in Q1 2020 and Q1 2021.
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According to Google Trends data, people in Ebonyi State have shown the most interest in NFTs in Nigeria. Below is a graph showing the top 10 states in Nigeria most interested in NFTs by their Google Trend Index.
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More Nigerians have taken an interest in non-fungible tokens (NFTs) in 2021, as shown by the subject's Google Trends Index of 100, an all-time high for the country.  Here is a trend showing how NFT popularity has grown in Nigeria since January 2021.
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Miss Universe - Top countries by the number of wins since 1952
 
  • 2000–2005: Of the titles, two went to Venezuela and one to India and Puerto Rico. India's win in 2000 marked its first Miss Universe title.
  • 2006–2010: Mexico, Venezuela, and Puerto Rico each managed to win a single contest. Mexico's win in 2010 was particularly historic, given that it was the first time the country won the title of Miss Universe.
  • 2011–2015: While the Philippines and Venezuela each won two titles, Colombia took one.
  • 2016–2020: Mexico and South Africa managed one victory each; South Africa had consecutive victories in 2017 and 2019.
  • 2021–2024: India, Mexico, South Africa, and Denmark each secured one win. This win for India in 2021 is the third Miss Universe title in the country.
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Jumia's orders for Q3 2021 increased by 11.8% from 7.6 million in Q2 to 8.5 million in Q3, an all-time quarterly high. This increase is reflected in a 4.3% growth in its active customers from the previous quarter.

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Jumia's highest increase in its total sales value in five quarters between Q3 2020 and Q3 2021 occurred in Q4 2020 with a 23.4% increase. The online marketplace company saw a steady increase in its Gross Merchandise Value (GMV) from Q1 2021 to Q3 2021.
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There were 90 Internet and social media disruptions across Africa between 2017 and 2021. The year 2019 had the highest disruptions with 25 across 16 countries.

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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.
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Nigeria's capital expenditure as a percentage of GDP (1981–2024)
  • From an average of 4.33% in 1981–2001 to just 1.58% in 2002–2024, Nigeria’s capital expenditure as a percentage of GDP has more than halved.
  • The early 2000s marked a major turning point. After peaking at 9.1% in 1999, capital spending nosedived, rarely surpassing 2% in the last two decades.
  • Recent figures show Nigeria’s capital expenditure hovering around 1–2% of GDP.
  • The data suggests a move away from infrastructure investments, potentially prioritising recurrent expenditure such as salaries and overheads.
  • Low capital spending can slow infrastructure development, limiting productivity, economic expansion, and foreign investment attractiveness.
  • If Nigeria is to achieve sustainable growth, there needs to be a renewed focus on capital investments to drive industrialisation, improve public services, and create jobs.
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Total funding raised in East Africa, excluding exits (2019 - 2024)
  • Kenya is the absolute leader in startup funding, with $3.3 billion raised in the past six years.
  • The rest of East Africa is way behind, with Tanzania ($286M), Uganda ($183M), and Rwanda ($91M) being the next in line. But collectively, they don’t even match 20% of the funding Kenya received.
  • The total funding raised across East Africa from 2019 to 2024 is $3.94 billion, which means Kenyan startups alone secured more than 8 out of every 10 dollars invested in the region.
  • Investor confidence is highly concentrated in Kenya, largely due to its well-developed venture capital ecosystem, startup accelerators, and government support for innovation.
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Kenya's share of startup funds raised in East Africa, excluding exits (2019 - 2024)
  • Kenya dominates East Africa’s startup funding, securing over 83% of all funds raised between 2019 and 2024 — a clear indication of its position as the region’s startup capital.
  • Kenya’s startup funding share has remained consistently above 80% since 2020.
  • 2023 and 2024 saw Kenya secure nearly 89% of all funds, marking its strongest position.
  • Other East African countries combined have not received more than 30% of the funding in any year since 2019.
  • The lowest share of funding Kenya secured was in 2019 (69.81%).
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Percentage of internet users globally aged 16+ who own each kind of device (January 2025)
  • Smartphones are nearly universal, with only 2.2% of internet users worldwide not owning one.
  • Laptop and desktop ownership (58.3%) lags behind smartphones, reinforcing the shift toward mobile-first usage for internet access.
  • Smart TVs (48.2%) are closing in on traditional computing devices, showing how entertainment consumption is increasingly digital and on-demand.
  • Wearables are rising, with smartwatches (25.8%) and smart wristbands (12.9%) becoming more mainstream, signalling a growing appetite for health and fitness tracking.
  • Gaming consoles (18.9%) and smart home devices (17.4%) have niched but steady adoption, appealing to entertainment and home automation enthusiasts.
  • Virtual Reality (VR) remains a specialty product, with just 4.7% ownership.
  • For businesses, the mobile-first reality is non-negotiable —any service, product, or content must prioritise accessibility via smartphones to reach the widest audience.
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Share of Nigeria's federal government capital expenditure (1999 - 2023)
  • Economic services still receive the largest share of capital expenditure (47% on average), which has declined over time, raising concerns about long-term infrastructure development.
  • Spending on administration has risen, now accounting for a quarter of total capital expenditure (25%), highlighting a stronger focus on governance and institutional processes.
  • Social community services (such as education and healthcare) have seen growth in allocation, reaching around 12-19% in recent years, signalling a shift toward social development.
  • Transfers, which are funds allocated to specific entities or programmes, have fluctuated but occasionally spiked.
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Key takeaways:
  • Africa's ten most profitable banking institutions are concentrated in South Africa, Egypt, and Nigeria.
  • South African and Egyptian banks claim the first five positions among Africa's most profitable banks.
  • Nigeria's banking sector shows resilience, with three of its "FUGAZ" banks securing positions in the continental top ten.
  • The average profit after tax among Africa's top ten profitable banks reached $867 million.
  • The four most profitable banks in Africa each exceeded $1 billion in profit after tax.
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