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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.

    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.

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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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  • 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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  • 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
     
  • The six North-Eastern states collectively owe around ₦450 billion in domestic debt as of Q2 2025.
  • Borno State maintains the lowest debt in the region at ₦22.3 billion, showing signs of controlled borrowing amid post-conflict rebuilding.
  • Bauchi State has the highest domestic debt burden of ₦143.6 billion, accounting for about 31% of the region’s total.
  • The top three states, Bauchi, Taraba and Gombe, collectively account for more than two-thirds of the zone’s total subnational debt stock.
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  • Nigeria paid $816.3 million to the International Monetary Fund, accounting for over 35% of total external debt service payments.
  • Eurobond payments followed closely, with $687.8 million paid, reflecting Nigeria’s heavy reliance on commercial debt instruments.
  • Multilateral lenders like IDA and AfDB collectively received about $463 million, signalling continued exposure to concessional financing.
  • China’s share shrinking: Payments to Chinese lenders (EXIM + CDB) totalled $235.6 million, less than 11% of total outflows, suggesting reduced Chinese debt servicing in H1 2025.
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  • FGN bonds dominated: ₦1.07 trillion went to Federal Government Bonds, accounting for about 63% of total domestic debt servicing.
  • Treasury bills followed: Payments on NTBs reached ₦537.9 billion, making up roughly 31% of the total.
  • Sukuk and promissory notes together cost ₦90.8 billion, reflecting Nigeria’s mix of infrastructure and settlement instruments.
  • Green and savings bonds remained minimal, together below ₦5 billion, showing limited traction for retail and sustainability-focused debt.
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  • China (773M) and India (607M) together make up for about 40% of the world’s total labour force.
  • Nigeria ranks 5th globally with 113 million workers, the largest in Africa and only African country in the top 10.
  • Asia dominates, accounting for over 47% of global workers, highlighting the region’s population and production strength.
  • The U.S.A. (174M) ranks third, representing just about 5% of global labour but producing almost a quarter of global GDP, proving productivity, not size, drives wealth.
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  • The Federal Government’s share of total public debt rose from 79.5% in 2019 to 92.6% in 2025.
  • States’ share has more than halved, from 20.5% to 7.4% in six years.
  • Total public debt grew from $83.9 billion to $99.7 billion, peaking at $113.4 billion in 2023.
  • Nigeria’s debt burden is increasingly concentrated at the centre, amplifying federal repayment risks and reducing fiscal independence for states.
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  • Wealth-building dominates motivation: 45.4% cite “active wealth building” as their primary motive, and an additional 21.8% cite “long-term financial security”.
  • Payments and utility are minor drivers: Only 3.3% report “daily utility” and 2.2% “digital commerce” as their chief motive for using crypto.
  • Hedging and cross-border flows matter: 8.7% use crypto for currency hedging, and 4.1% for cross-border payments, showing a dual role of investment plus international value flows.
  • Nigerian retail users treat crypto like a conventional financial instrument rather than only as a means of payment or speculation.
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  • Nearly two-thirds (67%) of all crypto transactions in Nigeria are below ₦50,000, reflecting widespread use among everyday retail users.
  • The ₦15,000–₦25,000 band (28.2%) is the single largest group, showing consistent, small-scale engagement rather than high-value speculation.
  • Around 25% of users transact between ₦50,000 and ₦250,000, suggesting a growing middle class of more confident, mid-level investors.
  • Less than 3% of users transact above ₦1 million, confirming that Nigeria’s crypto market remains primarily retail-driven, not institutional or high-net-worth.
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  • A majority (67.2%) of Nigerian crypto users (17.7 million people) use digital assets mainly for investment and long-term financial growth.
  • Overall, 26.34 million Nigerians—over one in eight adults—actively use or hold cryptocurrency, giving the country the highest adoption rate globally.
  • About 18.4% (4.8 million) use crypto for everyday needs such as remittances, payments, and inflation protection.
  • 14.4% (3.8 million) identify as active traders, providing liquidity and earning income through market participation.
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  • Total public debt hits ₦152.4 trillion, marking another milestone in Nigeria’s expanding debt profile.
  • Domestic debt leads at ₦80.5 trillion, making up about 53% of total obligations.
  • External debt stands at ₦71.8 trillion, equivalent to roughly 47%, reflecting Nigeria’s ongoing exposure to foreign lenders.
  • The data signals growing fiscal dependence on local markets, as authorities seek to limit exchange rate risks while still financing deficits.
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  • Power supply remains the biggest challenge affecting Nigerian businesses, affecting 82.5% of firms nationwide.
  • Poor transport infrastructure limits operations for over a quarter of businesses.
  • Internet disruptions affect more than one in five firms, highlighting connectivity gaps.
  • Climate and water issues are emerging risks, with some firms reporting weather damage and supply shortages.
  • The survey covered 1,043 firms across Nigeria and reflects responses from business owners and top managers.
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  • The IMF’s new 2019 GDP base year added between $20 billion and $235 billion annually to Nigeria’s GDP from 1990–2025.
  • 2014 saw the biggest jump — an upward revision of $235.1 billion, raising GDP to $811.1 billion from $576.0 billion under the old base.
  • The rebased data consistently show 40–45% higher GDP values through the 2000s and 2010s, revealing a larger economy than earlier estimates.
  • The impact was strongest during Nigeria’s oil boom years (2007–2014), when rebasing captured fast-growing sectors like digital services, informal trade, and modular refining.
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  • Sudan ranks highest in Africa with 18 coup attempts, the most in the continent since 1950.
  • Burkina Faso, Burundi, and Sierra Leone follow closely with 11 attempts each.
  • Ghana and Guinea-Bissau have each experienced 10 coup attempts, ranking among the top six.
  • West Africa remains the most coup-prone subregion, accounting for 9 of the top 15 coups in the region.
  • Africa has witnessed 226 coup attempts between 1950 and 2025.
  • Most coup-prone countries share traits like weak institutions, governance failures, and economic hardship.
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  • Asia and Europe have consistently represented over 70% of Nigeria’s imports since 2013.
  • Asia’s share of imports reached a record 53.5% in H1 2025.
  • Europe contributed 23.1% of total imports in H1 2025.
  • Imports from the American region averaged between 10%–14% over the period.
  • Africa’s import share remained below 10%, showing limited regional trade.
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  • The Netherlands has mostly been the top European import source, with Nigeria averaging 20% of annual imports from the region.
  • Netherlands' highest share of Nigeria's imports was 27.9% in 2018.
  • The United Kingdom consistently contributed around 5–15% of Nigeria’s European imports.
  • Germany’s share remained relatively stable at 5–10% over the years.
  • France, Italy, and Spain maintained smaller shares, mostly under 7%.
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  • Imports have consistently exceeded 85% of Nigeria's manufactured goods trade since 2017.
  • In H1 2025, imports accounted for 93.3% of the total ₦16.5 trillion trade.
  • Nigeria’s export share in the manufactured goods trade was only 6.7% in H1 2025.
  • The highest export share in the past eight years was 14.8% in 2019.
  • Total manufactured goods trade grew from ₦4.9 trillion in 2017 to ₦29.1 trillion in 2024.
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  • Nigeria’s food and beverage imports increased almost ninefold, from ₦0.7 trillion in 2013 to ₦6.6 trillion in 2024.
  • Imports remained relatively stable between 2015 and 2019, averaging around ₦1.1–₦1.6 trillion.
  • A major spike occurred in 2021, when imports surged by 62%, reaching ₦2.9 trillion.
  • Overall, the trend underscores Nigeria’s ongoing challenge of reducing dependency on imported food and beverages despite policies aimed at self-sufficiency.
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  • Nigeria imported a total of ₦60.6 trillion worth of goods in 2024.
  • Fuels and lubricants dominated imports with ₦22.7 trillion (37.4%).
  • Industrial supplies accounted for ₦13.4 trillion (22.1%), showing strong demand for production inputs.
  • Capital goods and parts represented ₦9.1 trillion (15%).
  • Food and beverage imports reached ₦6.6 trillion (10.9%), signalling a high reliance on external food sources.
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  • ECOWAS’s share of Nigeria’s African imports grew to 32.4% in H1 2025, up from 15.0% in 2021.
  • The lowest ECOWAS import share was recorded in 2014 (8.8%), showing significant progress since then.
  • The share of ECOWAS imports has more than doubled since 2021, signalling stronger regional trade ties.
  • Nigeria’s total imports from Africa rose to ₦1.8 trillion in 2025 (H1), indicating expanding trade activity.
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