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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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    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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  • 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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    Africa's sanitation crisis is alarming, with 17 of the top 20 countries having the highest open defecation rates.

    Eritrea (67%), Niger (65%), and Chad (63%) lead, putting millions at risk of disease.

    Even Nigeria, the most populous African country, has 18% of its population practising it.

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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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    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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  • From the initial ₦555 million commitment in the 2016 national budget, Nigeria Air (the national carrier) has received ₦8.957 billion in budgetary allocation as of 2023, with the past four years accounting for more than 80% of the allocation received.

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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
  • The United States leads with a massive $1.1 trillion in trade deficit, over four times larger than India's $245.5 billion deficit
  • India and the United Kingdom follow, each exceeding $230 billion in trade deficits, reflecting high import reliance
  • The USA’s trade imbalance alone surpasses the combined deficits of the other nine countries on this list
  • Six of the top ten countries with the largest deficits are European economies
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  • FirstBank and Union Bank have operated in Nigeria for over a century, making them the longest-surviving commercial banks
  • Three of Nigeria’s largest banks today, GTBank, Zenith Bank, and Access Bank, were founded in the late 20th century
  • Citibank is the oldest foreign bank in Nigeria
  • Only five banks have existed in Nigeria for over fifty years
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  • Netflix leads the global streaming market with 301.63 million subscribers
  • Amazon Prime follows with 200 million, making these two platforms account for over 500 million subscribers combined
  • Disney+ and Tencent Video signal the rise of regional and diverse content, with Disney+ at 124.6 million and Tencent Video at 116 million
  • Smaller platforms struggle to compete, with services like Apple TV having significantly lower numbers
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  • Egypt and Morocco dominate Africa’s trade deficit, with a combined shortfall of $50.8 billion dollars, which surpasses the total deficit of the other eight countries on the list
  • North African economies — Egypt, Morocco and Tunisia — account for more than half of the total trade deficit across the top 10
  • East African economies also feature prominently, with Ethiopia, Kenya, and Tanzania making up a significant share of the deficit
  • Smaller economies like Rwanda and Uganda post notable deficits, though on a much smaller scale than their North and East African counterparts
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  • Angola's $23.8 billion surplus is nearly double Algeria’s
  • The top three countries are major oil exporters
  • Oil, minerals, and natural resources drive most surpluses
  • No North African country besides Algeria makes the top 10
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