Bite-sized Insights about
 
Providing you with data-based insights about things happening around you.
Popular Insights

  • In 2023, global vehicle production surged, led by China with over 30 million vehicles — a 12% increase from 2022.
    The US and Japan followed, holding 11% and 10% shares, respectively.

    Global output rose 10%, reaching 93.55 million vehicles, up from 85.02 million in 2022.

    Only two African countries — South Africa and Morocco — made the top 25, highlighting the continent's developing automotive sector.

    See more
    The world’s smartphone companies shipped a combined 1.2 billion smartphones in 2022. Here are the top five.
    See more
  • 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

    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.

    See more

  • 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.

    See more
    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.

    See more

  • Despite the drop in production over the past decade, Nigeria remains Africa's largest oil-producing country. According to data from Trading Economics, it ranked 15th among the world's oil-producing countries as of June 2021. Here are the largest oil-producing countries in Africa:

    See more
  • 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.
    See more
  • 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
Nigeria's Value Added Tax collections by sector (Q1-Q2 2024)
  • Three sectors, Manufacturing, ICT, and Mining & Quarrying, accounted for 58.8% of total VAT revenue in the first half of 2024.
  • Manufacturing alone contributed 24.8% of VAT, making it the highest-paying sector.
  • Nigeria’s digital economy is thriving, with ICT generating 17.6% of VAT revenue, signaling the growth of telecom, data services, and digital platforms.
  • The extractive industry remains vital, with Mining & Quarrying contributing 16.4% of total VAT collection.
  • Finance & Insurance (10.2%) and Public Administration & Defence (9.7%) also made significant contributions to Nigeria’s VAT revenue.
  • Despite contributions from 21 sectors, VAT revenue is still heavily reliant on a few key industries, highlighting the need for a broader tax base.
Read more
Nigeria's public debt stock (2017 - 2024)
  • External debt has nearly doubled as in 2017, it stood at 26.64%, but by 2024, it had risen to 46.96%.
  • Domestic debt has dropped from 73.36% in 2017 to 53.04% in 2024, showing a decline.
  • Nigeria’s increasing reliance on external loans suggests a strategic shift in public debt financing.
  • Unlike other years, domestic debt share slightly increased in 2023, rising to 60.74%, before external debt rebounded in 2024.
  • A rising share of external debt means higher exposure to foreign exchange risks and global market conditions.
  • If the trend continues, Nigeria’s external and domestic debt may soon be equal, reducing the traditional dominance of domestic borrowing.
Read more
  • Nigeria remains the largest forest owner in West Africa, despite a steady decline in forest area from 217,902.5 km² in 2019 to 213,003.5 km² in 2022.
  • Ghana is the only top forest-owning country with increasing forest area, growing from 79,784.8 km² in 2019 to 80,001.6 km² in 2022.
  • Liberia, Senegal, and Burkina Faso all experienced gradual declines in forest area over the period.
  • Burkina Faso has the smallest forest area among these countries, with 61,164 km² in 2022.
Read more
  • Apple leads the global market with $3.863 trillion market capitalisation, followed closely by Nvidia at $3.355 trillion and Microsoft at $3.200 trillion.
  • Tesla ($1.385T) remains the most valuable automobile company, far ahead of traditional car manufacturers.
  • The highest-ranked non-tech company, Saudi Aramco, stands at $1.805 trillion.
  • Other trillion-dollar companies span industries such as finance (Berkshire Hathaway – $0.984T) and media (Meta – $1.514T).
Read more
  • Nigeria’s agricultural GDP reached ₦19.3 billion in 2023, showing minimal growth.
  • From 2013 to 2023, agriculture played a key role in Nigeria’s economic growth, averaging 24.43% of the total annual GDP.
  • Agriculture's share in the total GDP in 2020 (25.90%) dropped to 24.76% in 2023.
  • Post-pandemic recovery in the agricultural sector has been robust, with consistent growth from ₦18.3 billion in 2020 to ₦19.3 billion in 2023.
  • Agriculture remains a critical driver of Nigeria’s economy, ensuring food security and supporting livelihoods across the country.
Read more
Key takeaways:
  • The highest percentage of requirements was met in 2019.
  • Less than 50 percent of UN funds targeted towards Nigeria's humanitarian aid was realised in 2023.
  • As of 2020, the year of the Covid-19 pandemic, approximately 58 percent of the UN target for Nigeria's humanitarian support was raised, which is lower than the percentage realised in 2019 and 2021.
  • Every year, Nigeria obtains at least 40% of the UN's humanitarian aid needs.
Read more
1 … 122 123 124 125 126 … 226
Can’t find what you’re looking for? Please fill the form below
Contact Form Demo
SIGN UP TO OUR NEWSLETTER
Get periodic updates about the African startup space, access to our reports, among others.
Subscribe Here
Subscription Form
A product of Techpoint Africa. All rights reserved