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  • As of December 2023, 28.6 million internally displaced people affected by conflict were under the age of 18, accounting for 38% of the global IDP population.

    Conflict-ravaged Sudan has the most internally displaced children globally, with 4.25 million under the age of 18.

    DR Congo and Syria follow with 3.57 million and 2.65 million displaced children, respectively. Nigeria's 1.65 million displaced children make it the 7th highest globally for child displacement due to conflict.

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    In 2023, businesses in Nigeria's finance and insurance sector paid ₦458.8 billion as taxes to the government, 119.6% more than in 2022.

    Those in the manufacturing sector also increased their payments and remain the top tax-paying sector in the country.
    Here are the top five sectors where businesses paid the most tax in 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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    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 13 years, Africa's port activity has grown steadily from handling 22.8 million containers in 2010 to 35.8 million in 2022.

    Asia's bustling ports outpaced the world, handling nearly 6 billion containers since 2010, and 561 million in 2022.

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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
Share of FGN domestic debt service payment (2017 - 2024)
  • FGN Bonds dominate Nigeria’s domestic debt service payments, rising from 66.6% in 2017 to 87.9% in 2024. This reflects a growing reliance on long-term debt financing.
  • Treasury Bills have seen a sharp decline in their share of domestic debt service, dropping from 30.1% in 2017 to just 6.4% in 2024. This suggests a shift away from short-term debt instruments.
  • Treasury Bonds, which peaked at 14.9% in 2022, also declined to just 5.6% in 2024.
  • By 2021, over 80% of domestic debt service payments were already allocated to FGN Bonds, showing a consistent pattern of prioritisation. The trend has only intensified in subsequent years.
  • The rising dominance of FGN Bonds means Nigeria is locking itself into long-term repayment obligations, potentially increasing the fiscal burden in the future.
  • This trend underscores the need for careful debt management policies to prevent a future where long-term commitments become a burden rather than a stabilising factor. 🚨
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  • Lagos led Nigeria’s box office with ₦5.8 billion in revenue, generating more revenue than all other regions combined.
  • The South-South emerged as the strongest market outside Lagos, contributing ₦2.1 billion, nearly 50% more than the South-West.
  • Abuja outperformed all three northern zones combined, earning ₦852 million, which is nearly four times their total revenue.
  • Cinema penetration in northern Nigeria remains weak, with the North-East contributing only ₦2.4 million—less than 0.05% of the national total, highlighting a significant gap in cinema infrastructure and audience engagement.
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Federal Government of Nigeria's capital expenditure (2010 - 2024)
  • Between 2010 and 2024 (a 15-year period), the federal government invested over ₦25.7 trillion in capital projects.
  • The post-2020 era saw a dramatic rise in capital expenditure, growing from ₦1.61 trillion in 2020 to ₦5.15 trillion in 2024, indicating accelerated investments in infrastructure.
  • The increase in expenditure after 2020 suggests the government prioritised economic recovery efforts, allocating more resources to capital projects post-pandemic.
  • Nigeria recorded its highest-ever capital expenditure in 2023 (₦4.49 trillion) and 2024 (₦5.15 trillion), showing a more aggressive investment approach in recent years.
  • 2014 recorded the lowest capital expenditure (₦0.59 trillion) in the 15-year span, possibly due to revenue shortfalls, oil price fluctuations, or policy shifts at the time.
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Federal Government of Nigeria expenditure on pension and gratuities (2013 - 2024)
  • Since 2013, the Nigerian government has disbursed ₦3.4 trillion in pension and gratuity payments.
  • Pension expenditure jumped from ₦107.4 billion in 2013 to ₦438.6 billion in 2023, a nearly four times increase, showing the rising cost of maintaining pension obligations.
  • While pension spending grew gradually between 2013 and 2018, a significant spike began in 2019 (₦307.4 billion), showing a shift in pension allocations.
  • The highest pension expenditure recorded so far was in 2023, surpassing all previous years.
  • The Need for a Sustainable Pension System – With pension spending climbing yearly, ensuring a sustainable funding model will be crucial for future government budgets.
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  •  The three largest cinema chains in Nigeria grossed over ₦7.6 billion naira combined in 2024 from Anglophone West Africa
  • EbonyLife Cinemas made the highest amount of any single cinema location
  • Filmhouse Cinemas has maintained the highest box office revenue for seven years
  • At ₦3.3 billion naira, Filmhouse's 2024 revenue is the highest ever recorded by a cinema chain in the region
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  • Nigeria alone holds 89% of all cinema locations and 92% of all screens in the region.
  • Ghana is the second-largest market but has only seven locations and 18 screens, significantly trailing behind Nigeria.
  • Sierra Leone has four cinema locations and eight screens, while Liberia has just one location with two screens, highlighting the limited cinema infrastructure in both countries.
  • The overwhelming concentration of cinema infrastructure in Nigeria reflects its established film industry and audience demand.
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