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  • Alibaba made $1.17 trillion in sales in 2020, larger than what Amazon and Walmart did in the same period, making the Chinese company the biggest eCommerce in the world.
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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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  • 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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  • Since 2004, Nigerian employees have saved a cumulative ₦8.4 trillion for their retirement. Employees in the public sector have saved ₦4.4 trillion, while those in the private sector have put ₦4 trillion aside.

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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
top rice producing countries for 2024
 
  • 1990-2000: In this decade, China and India accounted for over 50% of the world's total output, with other dominant rice producers being Indonesia, Vietnam, and Bangladesh, with production figures falling between 20 and 30 million metric tons.
  • 2001-2010: China and India remained the two top producers, with China producing 140 million metric tons annually and India 100 million metric tons annually. 
  • 2011-2020: China and India continue to lead at about 150 million and 105 million metric tons, respectively. 
  • 2021-2024: China and India continued to lead. China reached 144.62 million metric tons in 2023/2024, and India accounted for 137.83 million metric tons.
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With 68% of 80.7k inmates awaiting trial, Nigerian correctional centres have 23.4k (41%) more inmates than their 57.2k capacity. From October 2021 to November 2023, 10.6k inmates have been added to the country's prison population.
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Of the $157 million worth of human hair exported globally in 2022, India had the highest share, with almost 90%. The top four, which are Asian countries, accounted for 95%. Here are the world's top human hair exporting countries in 2022.
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Airtel Nigeria started 2023 with slight drops in revenue in Q1 and Q2. However, a significant decline was recorded in the third quarter, representing the biggest quarterly decline since Q3 2018. Here are Airtel Nigeria's revenues since Q2 2018.
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In Q2 2023, MTN Nigeria made 71% less profit than it did in Q1 2023, with PBT dropping from ₦156b to ₦45b. It then declined further by 28% to ₦32 billion in Q3. Here are the telco's profits before tax since Q1 2019.
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The US has disbursed $10b in foreign assistance to Nigeria in the past 22 years, with its highest in the period coming in 2022. The disbursements have increased from $51m in 2001 to $973m in 2022. Here are the US' foreign assistance disbursements to Nigeria since 2001.
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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.

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In 2022, MTN Group spent ZAR 12.7b paying salaries and incurring other staff costs (an 8.1% increase from 2021), amounting to about 6.1% of its total revenue (ZAR 207b). After accounting for staff costs, they still pocketed ZAR 194b - 93.9% of the revenue for the year.
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Nigeria ranked 2nd after India in Chainalysis' 2023 Global Crypto Adoption Index. However, it ranked 1st in the peer-to-peer (P2P) exchange trade volume sub-index, which has 6 other African countries in the top 10. Here are the leading countries in P2P crypto trading volume.

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Nigerian states and the FCT generated ₦1.92 trillion in internal revenue in 2022, ₦29.8 billion (1.57%) more than in 2021, with Lagos State accounting for 34% of the IGR in 2022. Here are the revenues collected by Nigeria's states in 2022.
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The number of non-resident visitors to Nigeria fell sharply in 2020 to the lowest level in 25 years. This sudden downturn was a contrast to the years between 1995 and 2010 when Nigeria's tourism sector experienced an amazing upswing.
Nigeria saw a record high of 6.1 million non-resident visitors in 2010, highlighting the country's increasing appeal as a travel destination. A remarkable spike in arrivals of 5.24 million in 2007 made the year stand out.
The global pandemic in 2020, however, caused a significant decline, with just 1.21 million visitors — the lowest number since 1996.
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Between 2010 and 2022, 8,848 passengers — 3.4% of the global refusals for the period — from Nigeria were refused entry into the UK for various reasons. The refusals have gradually declined from their peak (1,117) in 2012 to 340 in 2022.
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  • Nigeria leads Africa in total arable land with 36,872,000 hectares, more than twice that of Niger, the second-ranking country.
  • Niger ranks second with 17,700,000 hectares.
  • The Democratic Republic of Congo (DRC) ranks third with 13,680,000 hectares, revealing the role of Central Africa in agricultural land availability.
  • Other notable countries include Chad (5.3M hectares), Zambia (3.8M hectares), and Guinea (3.1M hectares).
  • The countries at the bottom of the top ten list, such as Congo (550,000 hectares), Liberia (500,000 hectares), and Mauritania (450,000 hectares), have relatively limited arable land compared to leading nations.
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  • The number of artists earning over $5,000 in royalties from Spotify has risen from 36,400 in 2017 to 110,500 in 2024, a 205% increase.
  • The growth trend accelerated significantly after 2020, crossing 80,000 artists by 2021.
  • Between 2017 and 2019, the growth rate was slower, rising from 36,400 to 53,700 artists in two years.
  • The most significant jumps happened between 2019-2021, as numbers surged from 53,700 to 81,700 artists.
  • The consistent rise suggests increased monetisation opportunities for independent and mainstream artists on Spotify.
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  • Avatar remains the highest-grossing movie globally, earning $2.92 billion.
  • Titanic, released in 1997, is still among the top-grossing films with $2.22 billion, showing the lasting appeal of classics.
  • Recent films like Avatar: The Way of Water ($2.32 billion) and Spider-Man: No Way Home ($1.92 billion) prove that sequels and superhero films continue to drive massive revenues.
  • Disney properties dominate the list, with multiple Marvel, Star Wars, and animated films ranking among the top earners.
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  • Dangote first announced the refinery in 2013 with a $9 billion plan, securing $3.3 billion in funding.
  • The estimated cost grew to $15 billion in 2017, as planned refining capacity increased to 650,000 barrels per day.
  • By 2023, the refinery was finally commissioned, after its total cost surged past $20 billion.
  • In December 2023, the first crude supply of 1 million barrels arrived, marking the start of operations.
  • By 2024, the refinery began producing diesel and jet fuel, with 6 million barrels received for processing.
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Key takeaways:
  • In 2024, BUA Foods hit new heights, with gross profit for Q4 surpassing ₦189 billion.
  • A remarkable surge occurred in 2024, with quarterly gross profits regularly exceeding ₦100 billion.
  • The fourth quarter of 2024 marked a significant peak, illustrating a 200% increase from Q4 2023.
  • BUA Foods' gross profit dramatically climbed from approximately ₦25 billion in 2021 to nearly ₦190 billion in Q4 2024.
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Share of people living in Africa by region as of January 2025
  • Eastern Africa is the most populous region, making up 33.09% of Africa’s total population, with over 507 million people.
  • Together, Eastern and Western Africa house over 63% of Africa’s total population, indicating where much of the continent’s human capital and economic activity will be concentrated.
  • Northern Africa has 274.1 million people (17.89%), while Central Africa has 216.3 million (14.11%), placing them in the mid-range of Africa’s population distribution.
  • Southern Africa is by far the least populous region, contributing just 4.8% (73.6 million people) to Africa’s 1.5 billion total.
  • The population contrast across regions highlights key differences in urbanisation, economic opportunities, and development needs.
  • Understanding Africa’s population distribution is crucial for businesses, policymakers, and investors, as future economic growth, consumer markets, and labour forces will be heavily influenced by these demographic trends.
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