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  • Five of the top tep African countries with the largest gold reserves are North African

    Half of the top 10 African countries with significant gold reserves come from North Africa, with Algeria leading with 174 tonnes. Egypt and South Africa come in second and third with 126 tonnes and 125 tonnes, respectively. Algeria, Egypt, South Africa, and Libya hold the most significant gold reserves.

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    In addition to having one of the lowest populations on the continent, Mauritius boasts the greatest broadband penetration rate — 147.39% as of 2022 — of any country in Africa. The eastern African nation's broadband Internet subscribers surpassed its population in 2019.

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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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  • Crude oil exports, which made up 81% of Nigeria's export value in 2023 have increased in three consecutive years since 2021. After a 36% decline in 2020, exports increased by 53% in 2021, 46% in 2022, and 37% in 2023 to reach ₦29 trillion.

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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.

    See more
Other Insights
     
  • Export values have grown over 400%, rising from ₦11.8 trillion in 2013 to a peak of ₦55.3 trillion in 2024, a fivefold increase driven by rising oil prices and a weaker naira.
  • 2015 and 2016 were the hardest years, with export values crashing as low as ₦6.8 trillion in 2015, reflecting the brutal impact of the global oil price collapse on Nigeria's most critical export.
  • The most explosive growth came from 2023 onwards, with values surging past ₦29 trillion in 2023 and peaking at ₦55.3 trillion in 2024, largely driven by the naira depreciation following Nigeria's 2023 foreign exchange reforms.
  • The first nine months of 2025 saw a slower pace than the previous year, with ₦37.7 trillion recorded between Q1 and Q3, lower than the ₦41.5 trillion recorded during the same period in 2024.
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  • Local companies dominated CIT contributions in most years, accounting for over 50% of payments in 9 of 11 periods between 2015 and 2025 (Q1–Q3).
  • Foreign companies briefly closed the gap in 2023, contributing 49%, the closest they have come to matching local firms.
  • Local companies recorded their strongest share in 2021 at 65%, marking the widest gap between local and foreign contributors.
  • “Other payments” peaked during the pandemic, rising to 17% in 2020 before dropping to 0% from 2022 onward.
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  • The highest number of grid collapses in the past 16 years occurred in 2010, with 42 incidents recorded.
  • During Goodluck Jonathan’s administration, Nigeria’s grid collapsed an average of 24.4 times a year, the highest among the three administrations.
  • Under Muhammadu Buhari, the annual average dropped to 12.8 collapses per year, indicating improved grid stability compared to earlier years.
  • Under Bola Ahmed Tinubu, the average has fallen further to about 6.7 collapses annually.
  • 2016 recorded the highest number of collapses during the Buhari administration, with 28 incidents.
  • The most stable years in the dataset were 2020 and 2021, with only four collapses each.
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  • 26 companies on NGX are valued above ₦1 trillion.
  • MTN Nigeria leads at ₦16.38 trillion, making it the most valuable listed company.
  • The top three firms (MTN Nigeria, BUA Foods, and Dangote Cement) are far ahead of the rest, each exceeding ₦13 trillion.
  • 9 of the 26 companies are in the financial services sector.
  • Telecoms and manufacturing dominate the upper tier, highlighting infrastructure and essential services as market anchors.
  • Energy companies are firmly positioned, reflecting their central role in the economy.
  • Market concentration is high, as a few giants carry disproportionate weight relative to the 122 sub-₦1 trillion firms.
  • Sector diversity exists within the top 26, but most belong to industries tied to basic economic activity rather than emerging tech or high-growth startups.
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  • Over 551,800 Africans were recruited by European powers during World War I.
  • Approximately 86,100 African recruits died, representing a 13.5% fatality.
  • North Africa supplied the most recruits (260,000), slightly ahead of West Africa (250,600).
  • West Africa recorded the highest deaths (36,500) among the regions.
  • East Africa contributed 117,900 recruits, with 13,200 deaths.
  • Southern Africa’s involvement was significantly smaller — 9,500 recruits and 560 deaths.
  • Africa’s participation was geographically uneven, shaped by colonial control and military strategy.
  • More than one in eight recruits did not return, highlighting the human cost beyond battlefield narratives.
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  • Nigeria’s 2026 defence budget is $3.9 billion, placing it far below the top global spenders.
  • It is just 0.5% of the US’ $831.5 billion budget, highlighting a massive scale difference.
  • Compared to China ($303 billion), Nigeria’s budget is only 1.3%.
  • Nigeria’s allocation equals 1.8% of Russia’s $212.6 billion allocation.
  • Even a mid-tier top spender like Australia ($57.4 billion) has a budget almost 15x Nigeria’s.
  • Nigeria’s budget is only 3.6% of India’s $109 billion defence allocation.
  • European powers such as the UK ($88.5 billion), France ($67.2 billion), and Germany ($127.4 billion) all have defence budgets that dwarf Nigeria’s allocation
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  • Local companies dominated CIT contributions in most years, accounting for over 50% of payments in 9 of 11 periods between 2015 and 2025 (Q1–Q3).
  • Foreign companies briefly closed the gap in 2023, contributing 49%, the closest they have come to matching local firms.p
  • Local companies recorded their strongest share in 2021 at 65%, marking the widest gap between local and foreign contributors.
  • “Other payments” peaked during the pandemic, rising to 17% in 2020 before dropping to 0% from 2022 onward.
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  • Niger (76%), the Central African Republic (61%), and Chad (61%) top the global list, meaning the majority of women in these countries marry as children.
  • Seven of the top ten countries by prevalence are African, showing that child marriage is most entrenched relative to population on the continent.
  • Countries in South Asia — Bangladesh (51%) and Nepal (35%) — and Latin America — Suriname (36%) and Belize (34%) — also feature, highlighting the global nature of the challenge.
  • While some countries have larger populations, this list ranks the share of girls affected, not the absolute number, meaning even smaller populations can show extreme societal impact if the prevalence is high.
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  1. Nigeria ranks first with 7.3 million estimated users — over 2.8 million more than Egypt.
  2. Egypt (4.5 million) and South Africa (3.1 million) follow, forming the top three markets.
  3. The top three countries account for nearly 60% of the total users across the ten listed countries.
  4. The gap between first (7.3 million) and tenth (Tunisia, 322,000) is more than 6.9 million users, highlighting wide market disparities.
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  • Since its 2019 IPO, Jumia Group has accumulated over $1 billion in total losses, with 2019 marking its highest annual loss at $254.2 million.
  • Losses remained elevated between 2020 and 2022, consistently exceeding $180 million annually despite post-IPO restructuring efforts.
  • From 2023 onwards, annual losses dropped sharply — falling below $105 million for the first time since listing — following the shutdown of underperforming business units across African markets.
  • By 2025, losses declined further to $60.1 million, representing the company’s lowest annual loss in nine years and signalling the sustained impact of its cost-reduction strategy.
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  • With revenue per screen of ₦ 271.6 million, EbonyLife Cinemas outperforms other top cinemas in West Africa.
  • Several Genesis and FilmHouse branches fall within the strong mid-tier cluster, with revenue per screen ranging from ₦100 million to ₦160 million.
  • Lower-tier cinemas still generate ₦40 million to ₦70 million per screen
  • Revenue per-screen metric reveals the operational efficiency of the cinemas
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  • Nigeria is the fastest to reach $100B — 34 years, achieving the milestone in 1994.
  • Ethiopia took the longest — 81 years, reaching the mark in 2022 after decades of gradual expansion.
  • Resource-driven economies reached the threshold faster, including Angola (36 years) and Algeria (43 years).
  • North African economies crossed earlier, with Egypt (1989) and Morocco (2008) benefiting from diversified economic bases.
  • South Africa reached $100B as early as 1988, reflecting its long-standing industrial and financial depth.
  • Ghana is among the slowest climbers (68 years), but its recent 2025 milestone shows the impact of sustained reforms and growth.
  • Speed varies widely (34 to 81 years), showing that growth paths across Africa are shaped by very different economic realities.
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  • Healthy diet costs rose 49% nationally in two years.
  • North-West states recorded the fastest increases.
  • All seven North-West states rose above the national average.
  • Katsina and Kogi recorded the steepest increases, at 98%.
  • Akwa Ibom had the lowest increase, at 5%.
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  • One adult’s healthy diet takes 66% of Nigeria’s minimum wage.
  • The national average monthly cost is about ₦46,230 per adult.
  • Ekiti has the highest burden, at 90% of minimum wage.
  • Six states require over 80% of minimum wage for one adult’s healthy diet.
  • Adamawa has the lowest burden, at 43%.
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  • GTCO had the strongest profit conversion in 2025.
  • GTCO turned about ₦40 of every ₦100 earned into profit.
  • Stanbic IBTC followed with about ₦34 profit per ₦100 earned.
  • Zenith made the highest profit, but not the strongest conversion.
  • First HoldCo had the weakest profit conversion among the banks reviewed.
 
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Jaiz Bank spent the highest share of revenue on staff in 2025. Jaiz spent nearly ₦18 on staff for every ₦100 of revenue. ETI and UBA followed with the next highest staff-cost-to-revenue ratios. GTCO had the lowest staff-cost burden among the listed banks. ETI spent the most in absolute staff costs, at ₦782.8 billion.
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  • Nigeria lost 200 more millionaires than it gained between 2014 and 2024.
  • Migrating Nigerian millionaires were linked to an estimated $1.5 billion in wealth.
  • South Africa had Africa’s biggest net millionaire outflow among the selected countries.
  • Mauritius and Seychelles stood out as millionaire wealth magnets.
  • Seychelles attracted the highest migrant wealth per net millionaire gained.
 
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  • Global oil consumption rose from about 30.9 million barrels per day in 1965 to 101.4 million barrels per day in 2024, more than tripling over the period.
  • Asia Pacific saw the biggest structural shift in global oil demand, increasing its share from 10.7% in 1965 to 37.9% in 2024 to become the world’s largest oil-consuming region.
  • Africa accounted for just 1.9% of global oil consumption in 1965 and 4.5% in 2024, staying below 5% for nearly 60 years.
  • The global centre of oil demand has gradually shifted away from Western economies toward Asia, reflecting industrialisation, urbanisation, and population growth across the region.
  • Africa’s modest share of global oil demand highlights the continent’s relatively low industrial energy consumption despite rapid population growth.
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