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  • Between 2013 and 2022, Nigeria exported crude oil worth ₦123 trillion, with yearly figures ranging from ₦6.8 trillion to ₦21.1 trillion, and the highest (₦21.1 trillion) recorded in 2022. This chart shows the annual values.

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    • The GDP contribution from the telecom sector increased from 14.13% in Q1 2023 to 16.36% in Q2 2024.
    • The highest contribution (16.36%) was seen in Q2 2024.
    • The telecom sector contributes significantly to GDP, maintaining values above 10% quarterly from Q1 2020 to Q3 2024.
    • The second quarter consistently contributed more to Nigeria’s GDP throughout the observed timeframe.
    • The first and second quarters of 2024 showed an improvement in the sector's contribution to GDP compared to the previous years.
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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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    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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  • Every Nigerian president since 1999 left office with a higher dollar to naira exchange rate than when they took office. Will President Tinubu's tenure be the exception?

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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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  • The African countries with the highest life expectancies as of 2023 are: Algeria - 77 years, Tunisia - 77 years, Cape Verde - 77 years, Mauritius - 76 years.

    The African countries with the lowest life expectancies: Central African Republic - 55 years, Lesotho - 55 years, Nigeria - 54 years, Chad - 54 years.

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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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  • 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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Other Insights
 
  •  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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  • 9mobile lost the most customers to porting in 2024, with 44.7k subscribers switching to other networks.
  • MTN, once the most affected by porting, now has the lowest losses at just 2.7k customers in 2024.
  • Airtel and Globacom had minimal losses in 2024, with 4.2k and 3.8k customers leaving respectively.
  • MTN previously saw massive porting losses, peaking at 125.5k in 2015, but has since improved drastically.
  • Porting losses have declined across all networks over time, except for 9mobile, which has seen a recent spike.
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Key takeaways:
  • The predominant share of sub-Saharan Africa's workforce is engaged in agriculture.
  • In 2022, over 50% of the workforce in sub-Saharan Africa was employed in the Agriculture sector.
  • Employment levels in the Industry sector were significantly lower compared to Agriculture and Services.
  • Approximately 37% of employees in sub-Saharan Africa were in the Service industry.
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  • Canada announced a reduction in international student approvals in 2024, citing housing and resource pressures.
  • Global approvals dropped nearly 31% from 681.5k in 2023.
  • Nigerian approvals dropped 36%, ranking among the highest declines. India (-39.7%) and Nepal (-48.8%) were also major declines.
  • Canada plans to issue 437,000 study permits in 2025, 10% lower than 2024’s cap.
  • The UK, US, and local universities may see more Nigerian applicants.
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  • Four of 2024's top-grossing movies in Nigeria were not among the top 15 globally, showing a local preference for some movies.
  • The world's highest-grossing 2024 movie, Inside Out 2, underperformed in Nigeria
  • Movie franchises and sequels dominated the list, as only two movies were neither a sequel nor part of a franchise.
  • The top 15 foreign titles at the Nigerian box office grossed ₦3.95 billion, more than the top local title's ₦3.37 trillion.
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  • The highest-grossing Nollywood movie has grown from a modest ₦30 million in 2009 to over ₦1 billion in 2023.
  • Since 2016, Nollywood's highest-grossing movie at the local box office has stayed above ₦250 million.
  • Four of Nollywood's highest-grossing movies in the past five years have been produced by Funke Akindele.
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  • Nigeria's box office is still dominated by foreign titles, with only four local titles in the top ten movies.
  • A local title, Everybody Loves Jenifa, was the highest-grossing movie, exceeding ₦1 billion.
  • The world's highest-grossing movie, Inside Out 2, did not make it to Nigeria's top ten movies.
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Key takeaways:
  • In 2024, there was a sharp drop in unrealised humanitarian funds from the amount received in 2023.
  • The rate at which the amount of unrealised humanitarian aid increased from 2022 to 2023 is approximately the same rate at which the unrealised amount dropped in 2024.
  • The lowest amount of unrealised funding was recorded in 2016.
  • The UN secured $632 million of the $1.08 billion needed for humanitarian assistance in Nigeria in 2020.
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Key takeaways:
  • The funding requirements for humanitarian assistance in Nigeria reached their highest in 2023 but significantly fell in 2024.
  • From 2016 to 2025, there has been an 89% rise in the United Nations' planned assistance.
  • The funding appeal peaked at $1.31 billion in 2023, representing a 16% increase compared to 2022.
  • During the global lockdown in 2020, the United Nations required a humanitarian funding target of $1.08 billion for Nigeria.
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Share of total DMB credit to Nigerian sectors (Jan-Sep 2024)
 
  • Despite being a key contributor to employment and food security, the Agricultural sector only gets an average of 4.4% of total DMB credit.
  • The Industrial sector consistently absorbs the largest loans, accounting for 42%–46% of total credit from January to September 2024.
  • The Services sector remains a top recipient of bank credit, with shares fluctuating between 37% and 41%.
  • The Government sector receives relatively low credit levels, averaging 4.9%, suggesting reliance on alternative funding sources rather than direct bank borrowing.
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Sectoral contribution to GDP by sectors (2012 -2024)
 
  • With an impressive 20.1% CAGR, the Industry (including construction) has experienced the fastest expansion, more than doubling its contribution to GDP over the period.
  • Services remains the largest contributor to GDP, but its growth at 14.6% CAGR is being outpaced by Industry, signalling an evolving economic structure.
  • Agriculture’s 11.2% CAGR shows steady growth, but its share of GDP is shrinking compared to the industrial and service sectors.
  • The rapid growth in Industry reflects Tanzania’s shift towards manufacturing, construction, and infrastructure development.
  • Unlike decades ago, when agriculture dominated, today’s GDP contributions are more balanced between Services, Industry, and Agriculture, reducing reliance on any single sector.
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  • Nigeria recorded its highest-ever Chinese FDI inflow of $390.4 million in 2007
  • The second-highest inflow of $333.1 million was recorded in 2012
  • FDI from China to Nigeria fluctuated significantly over the years, with major peaks in 2007, 2012, and 2020
  • 2022 saw a decline in Chinese FDI to Nigeria, falling to $119.6 million from $308.9 million in 2020
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Key Takeaways:
  • As of March 13, 2025, Elon Musk is the sole individual whose net worth exceeds $300 billion.
  • Mark Zuckerberg is recognised as the youngest member among the top ten wealthiest individuals globally.
  • The exclusive $200 Billion Club features just three members: Musk, Bezos, and Zuckerberg.
  • The combined wealth of the ten richest individuals in the world totals around $1.8 trillion.
  • Eight individuals in the top ten wealth ranking list hail from the United States.
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  • Nigeria has received $9.4 billion dollars in Chinese loans across different sectors since 2002
  • The highest loan inflow was in 2017, with $2.8 billion, mainly for transportation and energy
  • Transportation projects received the most funding, with notable amounts in 2017 ($2 billion) and 2019 ($1 billion)
  • Loan inflows dropped significantly after 2017, with no borrowings between 2020 and 2022, and $973 million in 2023
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Key Takeaways:
  • The North East had the highest average cooking gas prices of ₦7.4k and ₦18.2k for 5kg and 12.5kg cylinders respectively
  • The average price of 5kg and 12.5kg cooking gas rose by 44.62% and 50.08% from December 2023
  • The North East had the highest average price for 5kg gas, followed by the North Central, South West, North East, South East, and then the South South, which had the lowest average price
  • The North East had the highest average price for 12.5kg gas, followed by the South West, South-South, South East, North East, and then the North Central, which had the lowest average price
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Key Takeaways:
  • The average price for 12.5kg cooking gas varies between ₦15,000 and ₦20,300
  • The average price difference of cooking gas among Nigerian states is 28.97%
  • Four out of the six states in the Southwest region are among the top 20 Nigerian states with the highest average cooking gas prices
  • Nine out of Nigeria's 36 states plus Abuja have an average price for 12.5kg cooking gas that exceeds ₦18,000
  • Taraba State stands out as the only state in Nigeria with an average cooking gas price surpassing ₦20,000
  • The national average price of 12.5kg cooking gas in Nigeria is ₦17,274.16
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Key takeaways:
  • The average kerosene price increased by approximately 70.5%, rising from ₦1,206.1 in May 2023 to ₦2,056.4 in December 2024.
  • Prices witnessed a moderate growth rate of 13% from May to December 2023, while the rate of increase escalated sharply in 2024, with a rise of 50.9% from January to December 2024.
  • A notable acceleration in prices began in July 2024, when the price per litre first surpassed ₦1,700.
  • The average price in December 2024 (₦2,056.4) was 51% greater than the average price in December 2023 (₦1,362.3).
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