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  • In 2012, the volume of Point of Sale (POS) transactions in Nigeria was nearly 2.6 million, valued at ₦48 billion. As of 2022, it had grown to nearly four billion transactions worth ₦41 trillion. The volume and value of POS transactions surged between 2020 and 2022.

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    In Q3 2023, Nigeria's GDP soared, with almost every sector recording year-on-year growth. Noteworthy growth includes Information and Communication, which increased by 40% compared to Q3 2022. Check out the chart for a quick overview.

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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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  • Twelve Nigerian banks listed on the Nigerian Exchange Group (NGX) reported a total profit of ₦3.42 trillion in 2023, with all banks making a profit and seeing increases from 2022. The top four banks — Zenith Bank, Access Holdings, UBA, and GTCO — contributed 71% of this amount. Zenith Bank saw a 202% increase from the previous year and led the way with ₦676.9 billion, while Access Bank recorded the highest increase in profits (307%). Jaiz Bank made the least profit (₦11.2 billion) followed by Sterling Bank (₦21.6 billion) and Wema Bank (₦36 billion).

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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.

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Other Insights
         
  • The Federal Capital territory (FCT) recorded the highest number of road accidents between Q3 2020 and Q3 2024, with a total of 8,133 accidents, accounting for 12.42% of total accidents.
  • FCT, Ogun, Nasarawa, and Kaduna consistently ranked among the top four states with the highest accident occurrences.
  • Bayelsa, Borno, Akwa Ibom, Rivers, and Imo were among the states with the lowest number of recorded accidents each quarter.
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  • Tesla remains the EV manufacturer with the highest revenue, generating approximately $19 billion in Q1 2025.
  • Among companies that exclusively produce EVs, Tesla was the only one to report a year-over-year revenue decline between Q1 2024 and Q1 2025.
  • Tesla's decline has been partially attributed to public backlash against CEO Elon Musk’s controversial political involvement.
  • VinFast not only achieved a 300% increase in vehicle deliveries but also recorded the highest revenue growth, up 149.81% year-over-year.
  • VinFast’s strong performance was largely driven by robust sales in Vietnam, its largest market.
  • Despite a 38.46% drop in EV deliveries, Rivian posted a 2.99% year-over-year revenue increase between Q1 2024 and Q1 2025.
  • Tesla, Rivian, and Lucid are U.S.-based EV manufacturers; NIO is Chinese, VinFast is Vietnamese, and Polestar is Swedish.
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  • Egypt leads with $195.2 billion in cumulative FDI inflows as of 2024.
  • South Africa follows with $151.0 billion, and Nigeria is third with $110.7 billion.
  • Only these three countries have crossed the $100 billion mark over the 34-year span.
  • Morocco and Mozambique are neck-and-neck, with around $58–59 billion each.
  • Ghana and Ethiopia show strong mid-tier performances, both near or above $45 billion.
  • DR Congo, Algeria, and Congo round out the top 10 — all with over $30 billion in long-term FDI.
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  • FDI inflows surged from just $0.01 billion in 1990 to a record $3.88 billion in 2019, marking a 388x increase over 30 years.
  • Between 2006 and 2019, Ghana consistently attracted over $1 billion annually, with nine of those years surpassing $3 billion.
  • The highest FDI year on record was 2019, likely reflecting peak investor confidence before the pandemic.
  • Since 2021, FDI has remained below $2 billion, with 2023 recording $1.31 billion and 2024 only slightly higher at $1.67 billion.
  • Ghana’s FDI trend reflects a pattern of post-2000 acceleration, plateauing around 2012–2015, then declining sharply post-2020.
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  • FDI inflows peaked in 2011 at $8.91 billion, the highest in the 35-year period.
  • Between 2005 and 2012, Nigeria saw a sustained boom in FDI, with seven consecutive years above $4 billion.
  • In 2018, Nigeria recorded its lowest FDI inflow in decades at just $0.78 billion.
  • By 2024, FDI stood at $1.08 billion, down 88% from its 2011 peak, reflecting declining investor interest or changing investment climates.
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  • Libya maintains its position as the cheapest fuel market in Africa with just $0.028 per litre.
  • Nine out of ten countries have fuel prices under $1 per litre, signalling widespread affordability across much of the continent.
  • Nigeria, despite partial subsidy reforms, still ranks among the cheapest with fuel priced at $0.586 per litre.
  • DR Congo is the only country in the top 10 where fuel costs exceed $1 per litre, standing at $1.039.
  • Ethiopia and Liberia are the only non-oil-producing countries among Africa’s top 10 cheapest fuel markets.
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  • Only three nations, Nigeria, Equatorial Guinea, and South Africa, have won the Women’s Africa Cup of Nations since it began in 1998.
  • Nigeria leads with nine titles, claiming the trophy in 1998, 2000, 2002, 2004, 2006, 2010, 2014, 2016, and 2018.
  • Equatorial Guinea captured the title twice, in 2008 and 2012.
  • South Africa won its first title in 2022 to become the third country to lift the trophy.
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  • Air Peace operates the largest fleet with 37 aircraft, combining its mainline and subsidiary, Air Peace Hopper.
  • Arik Air and Max Air follow distantly with 14 and 10 aircraft respectively, less than half of Air Peace’s combined fleet.
  • Only 5 airlines operate fleets of 8 or more aircraft, highlighting a significant concentration of operational strength at the top.
  • Over one-third of the listed airlines (7 out of 20) operate with fleets of just 4 aircraft or fewer.
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  • The United States dominates with 7 wins from 4 different athletes: Harper-Nelson (5), Carruthers (1) and McNeal (1).
  • Tobi Amusan of Nigeria is the only African and second-most decorated athlete, winning 3 consecutive titles (2021–2023).
  • Only 8 women from 6 countries have won the event in the last 15 years.
  • Dawn Harper-Nelson (USA) holds the record for most titles – five between 2012 and 2016.
  • Jasmine Camacho-Quinn (Puerto Rico) broke through in 2024, becoming the most recent champion and the first from her nation to do so.
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  • The South West generated ₦929.86B, over half of Nigeria’s total VAT, but received only ₦258.19B, amounting to ₦1 back for every ₦3.60 contributed.
  • The North West contributed just ₦68.05B but received ₦176.73B, meaning it got back ₦2.60 for every ₦1 generated.
  • The South South, the second-highest contributor at ₦364.99B, got back ₦171.18B, just ₦1 for every ₦2.13 generated.
  • The three southern zones together contributed ₦1.32 trillion in VAT, nearly 90% of the national total, but received less than half of it back.
  • Zones with the lowest generation (North East and South East) received 3 to 4 times their contributions.
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  • Total Spotify streams for the top 10 Nigerian songs hit 316.4 million, signalling another milestone for Nigeria’s digital music dominance.
  • Rema’s ‘Baby (Is it a crime)’ topped the chart with 53.4M streams, standing well ahead of the next closest, ‘Laho’.
  • All 10 songs recorded over 316M streams combined, showing depth in audience engagement beyond just the top few hits.
  • Shallipopi entered twice with ‘Laho’ (48.1M) and ‘Laho II’ (18.6M), showing the success of follow-ups and fan loyalty to a sound.
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  • Nigeria’s National Bureau of Statistics (NBS) usually releases Q1 GDP data 53 days after the quarter ends.
  • As of June 25, 2025, the Q1 2025 figures are 86 days overdue—that’s 33 days longer than average.
  • The delay coincides with a GDP rebasing exercise, updating the base year to 2019.
  • Q1 GDP reports have typically come out in May for the past eight years—until now.
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  • The highest-ranked countries have managed to provide electricity to every single citizen.
  • Four of the six countries with 100% access are from North Africa.
  • The list isn't a continuous climb; there's a big jump down from the 100% group to the rest of the top 15.
  • The data shows that with the right investment and policies, it is a very realistic goal for a country to achieve full electrification.
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  • Sudan’s debt-to-GDP ratio of 238.8% is the highest in Africa and over twice the size of its economy.
  • Three African countries—Sudan, Cabo Verde, and Zambia—have debt burdens exceeding 100% of their GDP.
  • Egypt, Mozambique, and the Congo Republic follow closely with ratios above 88% each, despite efforts at economic reform.
  • Ghana and Sierra Leone are also in the top 10, showing that West Africa isn’t exempt from debt pressure.
  • Nigeria, while not in the top 10, has a debt-to-GDP ratio of 41.3% and ranks 43rd in Africa.
  • A high debt-to-GDP ratio often limits a country’s ability to invest in growth-driving sectors, even if the economy is growing nominally.
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  • DR Congo has the lowest debt-to-GDP ratio in Africa, at just 11.1%.
  • Africa’s average debt-to-GDP ratio stands at 63.2%, meaning most countries on the bottom 10 list are performing better than the continental average.
  • Nigeria, despite its size and challenges, still maintains a relatively moderate debt load of 41.3%.
  • Botswana’s debt ratio of 18.1% places it among Africa’s most fiscally conservative economies.
  • Ethiopia and Guinea, both undergoing major economic transitions, still keep debt levels below 32%.
  • The presence of both low-income and resource-rich countries on the list shows that low debt isn’t exclusive to one economic model.
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  • The low access rates in nations like South Sudan and the Central African Republic are often linked to conflict and instability.
  • Fourteen countries on the continent have less than 50% of their population with electricity.
  • At the very bottom of the list, South Sudan has a 5.40% access rate, while Burundi stands at 11.60% and Chad at 12.00%.
  • Twelve African countries have less than 40% access.
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