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  • In 2023, Egypt, South Africa, Algeria, and Morocco dominated Africa's steel industry, accounting for 88% of the continent's production.

    Egypt led the charge, contributing 43% of Africa's total steel output. Despite this, Africa's 23.92 million tonnes only make up 1.26% of global production.

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    Key Takeaways:

    • The average price for 5kg cooking gas ranges from ₦6,000 to ₦8,100.
    • The price difference of cooking gas between various Nigerian states is 25.09%.
    • Out of Nigeria's 36 states plus Abuja, fifteen have an average price for 5kg cooking gas above the national average.
    • Taraba State is uniquely positioned as the sole state in Nigeria with an average cooking gas price above ₦8,000.
    • The national average cost for 5kg cooking gas in Nigeria is ₦7,177.27.
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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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    Africa's sanitation crisis is alarming, with 17 of the top 20 countries having the highest open defecation rates.

    Eritrea (67%), Niger (65%), and Chad (63%) lead, putting millions at risk of disease.

    Even Nigeria, the most populous African country, has 18% of its population practising it.

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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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    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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  • The cost of cooking gas nationwide increased from an average of ₦10.3k in March 2023 to nearly ₦16k in March 2024.

    However, the northern regions had the most affordable prices. The North East had the lowest average price of ₦14.9k for a 12.5kg cylinder.

    In Katsina, the average price for 12.5kg of cooking gas was ₦12,400 as of March 2024, the lowest in the country.

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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
 

According to Chainalysis, over $520 million worth of cryptocurrency was stolen from services and individuals through hacks and non-technical attacks like social engineering and phishing efforts in 2020.

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According to UNCTAD, most developing countries move more than 80% of their internationally-traded goods by sea. In Africa, Nigeria had the most maritime merchandise trade in 2020.
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As of 2021, only 10 African countries have enacted a Freedom of Information (FOI) Act with three of these countries enacting theirs in 2011. South Africa was the first country on the continent to enact a FOI act in 2001.

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In October 2021, the average price of 12.5kg cooking gas in Nigeria increased by 62.76% in October 2021 compared to October 2020. Between August 2021 and October 2021, the price increased by 47%.

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INEC has started its continuous voter registration against the 2023 general election. In 2019, 21% of Nigeria’s voting-age population did not register to vote.

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Despite a 13% year-over-year increase in orders, Jumia recorded a significant loss in Q2 2021. Though not the highest ever recorded, it's a whopping 105% increase from Q1 2021. Here are Jumia's losses and EBITDA for each quarter since 2019.

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According to UNICEF, Nigeria currently has more than 10 million out-of-school children, most of them in the North. On Tuesday, October 26, 2021, President Muhammadu Buhari said the fear and trauma of abduction are forcing children out of school. Here is the reported number of abducted school children in Nigeria by state since 2014.
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The number of people from sub-Saharan Africa studying in the US was highest in 2020 — 41,697. Here is the trend of sub-Saharan African, West African, and Nigerian students in the US from 2001 to 2020.

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3,930 Nigerians have been issued Canadian Study Permits in H1 2021, 67% of the total figures for 2020. Between 2015 and 2020, more Nigerians were issued this Permit in 2019. Here is a representation of the number of Nigerians issued the Canadian Study Permit from 2015 to H1 2021.

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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.

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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.

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Nigeria has been estimated to have a housing deficit of 22 million units. Since 1991, this ​deficit grew the most between 2007 and 2015. Following the FG's inauguration of the country's housing portal, we present the increase in the housing deficit in Nigeria since 1991.
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Internet Adoption by Region (as % of Total Population), Jan 2025
  • With a 98% adoption rate, Northern Europe leads the world in digital inclusion.
  • Eastern Africa (29%), Middle Africa (34%), and Western Africa (43%) have the lowest adoption rates.
  • Southern and Eastern Europe boast over 90% adoption, proving that even outside the wealthiest nations, high connectivity is achievable.
  • While Eastern Asia (79%) and South-Eastern Asia (78%) show strong progress, Southern Asia lags behind at 54%.
  • Oceania maintains a solid 78% adoption rate, quietly outperforming many regions.
  • With 70% adoption, the Caribbean outperforms parts of Asia and Africa.
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Key Takeaways:
  • Cocoa products, including paste, butter, and beans dominated the US' agricultural imports from Sub-Saharan Africa in 2024, making up nearly one-third of the total.
  • Other major import categories included coffee, seafood, oilseed meals, and tree nuts, rounding out the top six.
  • The top 10 agricultural imports accounted for 74% of all the US' agricultural imports from the region.
  • Each of the top 10 products had an import value exceeding $120 million.
  • From SSA, Côte d'Ivoire and Ghana were the leading suppliers of cocoa products to the US in 2024.
  • The top three products together represented 41% of the total agricultural imports from the region.
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Key Takeaways:
  • Nigeria’s outstanding debt to the IMF has reduced from SDR 2.45 billion in March 2023 to SDR 306.81 million by March 2025.
  • The country has maintained a consistent quarterly repayment pattern, averaging SDR 306.8 million.
  • This steady repayment trend reflects Nigeria’s commitment to managing its external obligations.
  • At the current repayment rate, Nigeria is positioned to fully clear its IMF obligations by mid-2025.
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Key Takeaways:
  • Despite recent gains, Oando Plc's earnings before tax have declined by 222% over the past decade.
  • Major losses occurred in 2019 and 2020, with a rebound in 2021 and 2023.
  • The company demonstrated remarkable resilience by recovering to ₦103 billion profit in 2023.
  • The earnings before tax in 2024 fell by 54% from 2023.
  • The year-on-year growth rate from 2015 to 2024 was shown to be negative despite recording ₦47.8 billion in 2024, as against -₦39.1 billion in 2015.
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Key Takeaways:  
  • Argentina tops the list with SDR 31.1 billion in outstanding IMF credit.
  • The top three borrowers, Argentina, Ukraine, and Egypt, together hold over 45% of total IMF credit.
  • All 15 countries on the list have outstanding credit of at least SDR 1.4 billion.
  • African nations such as Kenya, Angola, Ghana, and Ethiopia rank among the top 15 IMF debtors.
  • The top 10 countries alone account for more than two-thirds of the IMF’s total outstanding credit.
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Key Takeaways:
  • Egypt leads African nations in IMF debt, with SDR 8.63 billion in outstanding credit.
  • The combined debt of these 10 countries represents 24% of the IMF’s total outstanding credit globally.
  • East African nations, Kenya and Ethiopia, hold a combined SDR 4.5 billion in IMF credit.
  • West Africa is strongly represented with Côte d'Ivoire, Ghana, Senegal, and Cameroon owing more than SDR 7.4 billion collectively.
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