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Popular Insights
  • In the past seven years, 9mobile has experienced a consistent decline in its Internet subscriber base, with an average loss of 134k subscribers monthly since June 2016. This decline began after it reached 17.2 million subscribers — its highest ever — in April 2016. As of July 2023, 9mobile's Internet subscriber count was 3.9m. MTN had the largest share (68.1m) of Nigeria's 159m Internet subscribers as of July 2023. Glo and Airtel had almost equal shares, with 43.9m and 42.9m subscribers, respectively.
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    • Airtel Africa leads the Nigerian stock market with a market cap of ₦8.11 trillion naira, followed by Dangote Cement at ₦8.10 trillion and BUA Foods at ₦7.52 trillion.
    • The largest public companies in Nigeria are mostly in financial services, industrial goods and consumer goods.
    • A total of 16 Nigerian public companies have surpassed the ₦1 trillion market cap threshold.
    • The lowest-ranked trillion-naira company, First HolCo, has a ₦1 trillion naira market cap.
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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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    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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  • 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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    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.

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  • In the past five years, Nigerian Fintech startups have received the most funding in the startup space, with over $1.01b raised in 2021, the highest in 14 years. Funding for the sector has since reduced following the raise in 2021.
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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
  • Nestlé Nigeria maintained steady profits for eight years, growing from ₦22.2 billion naira in 2014 to ₦49 billion naira in 2022
  • Nestlé Nigeria swung from a ₦49 billion naira profit in 2022 to a ₦79.5 billion naira loss in 2023, a 262% decline in one year
  • Losses deepened by 107%, from ₦79.5 billion naira in 2023 to ₦164.6 billion naira in 2024
  • A combined ₦244 billion naira loss for 2023 and 2024 nearly wiped out all the profits of ₦304.5 billion naira made between 2014 and 2022
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  • Launch Africa is the most active startup investor in Africa, with 165 deals between 2019 and 2024.
  • Techstars follows closely with 148 deals, while Google Black Founders Fund ranks third with 139 deals.
  • Y Combinator has backed 123 startups, reinforcing its strong presence in African tech.
  • Venture capital interest remains strong, with at least 17 firms making 30+ investments in African startups.
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Number of countries anticipated to either have sufficient or shortage of secondary school teachers by region (2030)
  • Sub-Saharan Africa faces the biggest shortage, with 40 countries struggling to fill teaching positions in secondary schools.
  • Europe & Northern America (33 countries) and Latin America & the Caribbean (29 countries) are also at risk, showing that the teacher crisis isn’t just a developing-world issue.
  • Eastern Asia and Central Asia don’t have a single country expected to have enough secondary school teachers, indicating a major educational gap in these regions.
  • The impact of teacher shortages goes beyond education—overcrowded classrooms, exhausted teachers, and declining educational quality will harm future economic and workforce development.
  • Solving this crisis requires urgent action, from better teacher training to improved salaries and working conditions to attract more people to the profession.
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Share of Africa’s debt by duration (2023 - 2028)
  • By 2028, 76.4% of Africa’s debt will be long-term, up from 75% in 2023.
  • The share of long-term debt will consistently rise each year.
  • Short-term and IMF debts will shrink to 23.6% by 2028, indicating reduced reliance on short-term borrowing.
  • The trend towards long-term debt reduces the immediate financial strain on governments but requires careful management to avoid excessive interest accumulation.
  • Countries must ensure that extended debt periods are matched with productive investments to justify future repayments.
  • A higher share of long-term debt could expose African economies to potential interest rate hikes in the future.
  • While long-term borrowing offers temporary relief, debt sustainability remains a key issue that policymakers must address.
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Total number of additional primary and secondary teachers needed by region by 2030
  • Sub-Saharan Africa faces the most severe teacher shortage, needing over 15 million educators by 2030, more than any other region.
  • Southern Asia has the second-highest demand, requiring 7.78 million teachers, highlighting a major education gap in fast-growing economies.
  • Europe & Northern America also need 4.83 million teachers, proving that even developed regions struggle with teacher shortages.
  • South-Eastern Asia (4.54M), Northern Africa & Western Asia (4.26M), and Eastern Asia (3.28M) are all battling significant shortages, showing a global education crisis.
  • Even smaller regions like Oceania (0.28M) and Central Asia (0.75M) require thousands of teachers, emphasising that no region is immune to this issue.
  • If action isn’t taken now, millions of children will face overcrowded classrooms and lower educational quality, potentially stunting economic growth and workforce readiness for future generations.
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  • DR Congo holds the largest forest area in Africa, but it declined by nearly 33,000 km² from 2019 to 2022.
  • Angola lost over 16,000 km² of forest, decreasing from 671,624 km² to 654,972 km².
  • Tanzania, Zambia, and Mozambique forests recorded declines, though at different rates.
  • Mozambique has the smallest forest area among the top countries, standing at 362,673 km² in 2022.
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