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  • Top 8 economies by real GDP growth (2024)
    • Guyana leads with a 43.8% GDP growth, driven by its oil boom and foreign investment.
    • Interestingly, the rest of the list comprises smaller economies, including Samoa, Palau, and Rwanda, each showing promising growth rates.
    • African countries like Niger and Rwanda take significant spots on the list.
    • Nigeria has a growth rate of 2.9%, putting the country in 104th position worldwide (out of 190 countries)
    • The list reflects diverse regional representation, from Africa (Rwanda, Niger) to Asia-Pacific (Macao, Samoa, and Palau) and Latin America (Guyana).
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    Nigeria deploys 74,000 new point-of-sale terminals on average each month

    Over the years, merchants on agency banking platforms have played an important role in bringing the banking system closer to people. They also played a key role during Nigeria's cash crunch in Q1 2023. Despite their importance, there have been reports of people using them to commit fraud, prompting the government's recent decision to have all POS agents registered with the Corporate Affairs Commission. As of March 2024, 2.69 million POS terminals had been deployed, including those used as payment options.

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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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  • Since 2020, the Nigerian National Petroleum Company Limited (NNPC) has seen a 1,048% profit increase, totalling ₦6.8 trillion over four years.

    From nearly eliminating losses in 2019, NNPC achieved a 16,982% profit surge in 2020. The growth persisted with 135% in 2021 and 278% in 2022.

    Despite a steady 29% increase in 2023, rising debts and fuel scarcity cast doubt on the sustainability of this success.

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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
 

Seychelles, Mauritius, and South Africa lead other African countries in the number of visa-free countries their citizens can visit globally. Here are the most powerful passports in Africa by the number of visa-free countries citizens can visit in 2021.

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According to the Global Peace Index 2021, South Sudan, Somalia, and DR Congo are Africa's least peaceful countries. As the world observes The International Day of Peace 2021, we present the continent's 20 least peaceful countries by their Global Peace Index 2021 score.

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Africa has witnessed 83 coup attempts since 1990, 42 of which were successful. The latest, Sudan's military coup, occurred yesterday, Monday, October 25, 2021. Although rare today, coups still threaten democracy. Here are the attempted coups in Africa since 1990.

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ASUU strikes have lasted a total of 742 days since 2010. The longest to date was the almost nine-month-long strike of 2020. With another academic strike looming, we give you the trend of all ASUU strikes by duration since 2010.

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With assets worth ₦536 billion, Leadway Assurance was the leading insurance company by total assets as of 2022 — two times more assets than second-placed AIICO Insurance with ₦270 billion. These are the top ten insurance companies in Nigeria by total
assets as of 2022.

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africas-imports-by-country-2022-65bcdbd921bcd
 

African countries imported products worth $694 billion in 2022, with South Africa, the continent's leading importer, bringing in products worth $111.9 billion, representing 16.1% of the total. Egypt followed with $79.7 billion, constituting 11.5%.

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Between September 2022 to August 2023, 3 of Nigeria's mobile Internet providers saw a combined 8 million increase in their active mobile Internet subscribers, with MTN gaining the most, followed by Globacom and Airtel. 9mobile on the other hand, recorded almost 1 million decline.

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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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Key Takeaways:
  • Ghana led the continent in gold production in 2023, producing 135.11 tonnes, 13.5% of Africa’s total.
  • Four countries (Ghana, Mali, South Africa, and Burkina Faso) each produced over 95 tonnes, together accounting for 443 tonnes or 44.1% of the continent’s output.
  • West African countries dominated the rankings, with eight nations from the region among the top 15 producers.
  • The West African countries in the top 15 combined contributed 525.55 tonnes, more than half (52.3%) of Africa's total gold production.
  • South Africa ranked third in Africa with 104.29 tonnes.
  • Burkina Faso ranked fourth while contributing almost 10% of Africa’s gold production.
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Key Takeaways:
  • In 2023, Africa was the world’s leading gold-producing region, with a total output of 1,003.98 tonnes.
  • Asia followed with 661.30 tonnes, representing 18.1% of the world’s gold output.
  • The Commonwealth of Independent States (CIS) produced 570.90 tonnes, making up 15.7% of the global total.
  • North America and Central & South America contributed 485.17 tonnes and 542.13 tonnes, respectively.
  • Oceania was a key producer with 343.29 tonnes, or 9.4% of global output.
  • Europe contributed the least, producing only 39.30 tonnes, which is about 1.1% of the total.
  • Altogether, global gold production reached 3,646.07 tonnes in 2023.
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Tunisia’s official exchange rate (Tunisian dinar per US$), 2016 - 2024
  • The Tunisian dinar stood at TND 2.15 per US$ in 2016 and has since depreciated to TND 3.11 per US$ in 2024.
  • Between 2016 and 2019, the dinar saw a strong depreciation.
  • 2020 marked a turning point with a 4.16% appreciation, the first notable currency strengthening in the period observed.
  • From 2022 onward, the exchange rate has stabilised closely around TND 3.10 to TND 3.11 per US$, with minimal yearly changes of 0.08% and 0.04%.
  • The largest year-on-year depreciation occurred in 2017 with a 12.63% change.
  • Despite the earlier years of high volatility, Tunisia’s currency performance in the last three years suggests better monetary management and external stability.
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Countries with the worst African Infrastructure Development Index (AIDI), 2024
  • Somalia has the lowest AIDI score in Africa at 7.10, reflecting extremely poor infrastructure across all sectors.
  • South Sudan (7.38) and Niger (8.12) rank slightly higher, showing similarly weak infrastructure profiles.
  • Ethiopia (13.09) and the Central African Republic (13.23), though more advanced than others on the list, still score under 15.
  • Nigeria's AIDI score of 25.70, while not high by global standards, is more than three times higher than Somalia’s, indicating major disparities in infrastructure across the continent.
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  • An average of ~38,000 RSA accounts use the 25% withdrawal option each year.
  • Total amounts tapped rose from ₦19.1B (2019) to ₦35.5B (2023) as balances grew.
  • Total amount withdrawn from 2017 through Q3 2024 was ₦198.3B.
  • Despite rising amounts, the count of withdrawals fell from ~57,000 in 2017–18 to ~38,000 since 2019.
  • Amount withdrawn jumped by 32% in 2023.
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  • Global cotton production grew by over 160%, from about 9.5 million tonnes in 1961 to 24.8 million tonnes in 2022.
  • China’s Reign: 41 years at number one. Biggest output: 7.62M tonnes in 2007.
  • USA’s Era: 13 years at the top. Peak production: 5.20M tonnes in 2005.
  • USSR’s Legacy: 5 years crowned. Best year: 2.89M tonnes in 1981.
  • India’s Late Charge: Only 3 years at number one, but a huge 6.13M tonnes in 2020.
  • Shift to Asia: In the early decades, USA dominated; now, it’s mostly China and India running the game.
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