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Popular Insights
  • Nigeria's Federal Account Allocation Committee shared ₦1.85 trillion among 36 states between January and June 2023. Here is the revenue allocation by geopolitical zone in H1 2023.
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    Nigerians made up 6.5% of international students in the United Kingdom as of 2022
    In the 2021/2022 academic year, 2.86 million students studied in UK's higher education institutions, with 680k (23.8%) being international students. Nigerians accounted for 44k (6.5%) of overseas students in the UK, trailing China's 151k (22.3%) and India's 126k (18.6%).
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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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  • 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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  • GSM subscribers in Nigeria only recorded three year-on-year drops in the past 11 years

    As of March 2024, there were 219m subscribers in Nigeria's GSM market which is dominated by three players each with over 20% market share. More than 40 mobile virtual network operators (MVNOs) have been licensed to date, all of whom will rely on the infrastructure of the country's four mobile network operators to offer their services.

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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
 
1. With a brand value of $574.6B, Apple maintains a commanding lead, outpacing Microsoft by over $113.5B and reinforcing its position as the world’s most influential brand.
2. The top four brands (Apple, Microsoft, Google, Amazon) are all tech giants, collectively amassing over $1.8 trillion in brand value, proving technology remains the most valuable industry.
3. TikTok ($105.8B) has overtaken Facebook ($91.5B) and Instagram ($79.9B), signaling a shift in digital engagement and consumer preferences towards short-form video content.
4. Four of China’s top banks (ICBC, China Construction Bank, Agricultural Bank of China, and Bank of China) collectively hold $291.5B in brand value, while State Grid leads the energy sector at $85.6B, showcasing China’s growing financial and infrastructure influence.
5. The rapid ascent in brand value of NVIDIA and AI ($87.9B) highlights the increasing importance of AI, semiconductors, and GPUs in shaping the future of technology and computing.
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  • Volatility and risks are the biggest concerns for Nigerians engaging with cryptocurrency, making up 35.7%.
  • Lack of knowledge accounts for 17.5%, highlighting a gap in crypto education and awareness.
  • Difficulty in using apps is the least pressing concern at 6.4%, suggesting that accessibility is not a major barrier.
  • Addressing volatility fears, improving security measures, and expanding financial education could boost confidence in crypto adoption.
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  • The 2025 approved budget is nearly ₦55 trillion, marking a dramatic increase compared to previous years.
  • From 2020 onwards, the budget has seen a rapid upward trend.
  • Nigeria's national budget has consistently grown over the years, with notable jumps in 2016, 2021, and 2025.
  • The most significant year-on-year increase occurred from 2024 to 2025, with a 91% rise.
  • Since 2010, the budget has only decreased in four years (2012, 2014, 2015, and 2019), highlighting a generally upward trend in government spending
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  • Africa's labour force continues to grow significantly, with several countries exceeding 10 million workers in 2023.
  • South Africa, despite its developed economy, has a labour force of 27 million, ranking below Tanzania and Egypt.
  • Nigeria, Ethiopia, and the Democratic Republic of Congo have the largest labour forces in Africa.
  • East Africa remains a major hub, with Kenya and Uganda featuring prominently in the top ten.
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  • Sovereign currency-backed instant payments are rare, suggesting limited adoption of central bank digital currency (CBDC) models.
  • Cross-domain instant payment systems are the most popular, showing a strong push for interoperability across financial platforms.
  • Instant payment systems with only bank participants are still widely used, indicating that traditional financial institutions remain central to digital transactions.
  • Some African countries operate multiple instant payment systems, enhancing financial access through diverse options.
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  • Passenger travel generated the largest share of railway revenue at 63.5%.
  • Pipeline usage accounted for 13.9%, showing that the sector tapped into multiple transport streams.
  • Other income sources were minimal at 2%, highlighting limited ancillary revenue sources.
  • The dominance of passenger fares underscores the importance of commuter travel for railway sustainability.
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  • Train passenger revenue in 2024 reached ₦4.8 billion naira by Q3, already surpassing 2023’s total revenue of ₦4.43 billion.
  • The lowest passenger count was recorded in 2020 at 1.02 million, due to pandemic-related restrictions, but revenue still stood at ₦1.75 billion.
  • The highest revenue in the last six years was in 2021, reaching ₦5.70 billion, with 3.21 million passengers contributing to the surge.
  • Passenger numbers peaked in 2021 at 3.21 million and have steadily declined since, dropping by over one million passengers in just three years.
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  • Japan, South Korea, and Germany collectively host approximately 75% of all U.S. troops stationed abroad.
  • Japan leads with 53K U.S. troops, followed by Germany (35K) and South Korea (24K).
  • The Indo-Pacific (77K) edges out Europe (58K), while the Middle East (5K) holds minimal footholds in regional priorities.
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  • Japan leads with 14 bases. It hosts the most U.S. bases globally, exceeding individual counts in the Philippines (9) and South Korea (8).
  • Asia-Pacific Dominance: The region (Japan, Philippines, South Korea, Australia, and Papua New Guinea) accounts for 41 bases, nearly 1/3 of the global total.
  • The Asia-Pacific region hosts 41 U.S. bases, while Europe (Italy, Germany, Poland, UK) has 23. This indicates a growing strategic pivot towards the Pacific compared to traditional European deployments.
  •  Kuwait (5 bases) stands out as the primary hub for U.S. military operations in the Middle East, highlighting its role as a key staging ground for regional security.
  • The top 10 host countries account for 69 of the 128 total bases (over 53%), meaning nearly half of U.S. overseas bases are spread across the remaining 39 countries.
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  • WhatsApp’s global reach hit 2 billion monthly active users. It’s the undisputed leader in global messaging engagement.
  • WeChat’s regional strength reached 1.3 billion monthly active users, but it is heavily concentrated in some regions, limiting its global monthly activity.
  • Telegram’s rise to 900 million monthly active users and Snapchat’s sticky appeals to 800 million monthly active users revealed high engagement among younger demographics.
  • QQ had 554 million monthly active users, highlighting its significant presence in the messaging market.
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-Google has 10.6x more market share of search engine than the five other market leaders combined.
-Bing accounted for 3.77% of the global search market across all devices, while market leader Google held a search traffic share of around 90.83%.
-Yandex's market share was 2.16%, while Yahoo represented around 1.20%.
-Baidu and DuckDuckGo accounted for a combined market share of less than 2% with each Search engine holding under 1% individually.
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  • Africa's migrant stock continues to rise, with several countries exceeding one million migrants in 2015.
  • Burkina Faso and the Democratic Republic of Congo round out the top ten, with over half a million migrants each.
  • Despite being Africa's youngest country, South Sudan ranked sixth, showing the country's rapid migration growth.
  • South Africa has led since 2010, despite facing fluctuations in the migrant stock.
  • East Africa sees significant migration, with Kenya and Ethiopia both exceeding one million migrants.
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Key Takeaways:
  • Nestlé’s dividends increase year after year was highest in 2018 and 2019 at ₦17.83 billion and ₦12.68 billion, respectively.
  • The declared dividends reached a peak of ₦55.49 billion in 2020, while the lowest was recorded at ₦15.06 billion in 2016.
  • In recent years, Nestlé Nigeria Plc has shown a declining trend in declared dividends.
  • Dividends decreased by nearly 14%, 17%, and 28% in 2021, 2022, and 2023, respectively, compared to the previous years.
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Key takeaways:
  • Nestlé Nigeria's income tax contributions rose from ₦5.6 billion in 2015 to ₦57 billion in 2024.
  • In 2024, the company saw an extraordinary 132% rise in taxes compared to the previous year.
  • Despite facing economic hurdles during the COVID-19 pandemic, Nestlé ensured that its tax contributions remained above ₦21 billion annually from 2020 to 2022.
  • The significant spike in 2024 was mainly due to a considerable loss before tax, driven by heightened finance costs stemming from the devaluation of the Naira.
  • Nestlé Nigeria's 144% income tax growth in 2016 is the highest in the past ten years.
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Borrowing costs in African countries (2008, 2019, and 2024)
  • Africa now spends 27.5% of revenue on interest payments, nearly 4 times higher than in 2008.
  • The debt burden is rising faster than economic growth as interest payments as a percentage of GDP grew from 5.4% in 2008 to 8.2% in 2024, showing increasing financial strain.
  • Effective interest rates have more than tripled from 1.4% in 2008 to 5.0% in 2024, making debt less affordable.
  • Between 2008 and 2019, the ratio of interest to revenue rose by 12.2 percentage points, and in five years (2019–2024), it surged by another 8.5 percentage points.
  • As borrowing costs rise, the risk of defaults and fiscal crises in African economies grows, making financial stability a concern.
  • More money spent on debt means less for roads, hospitals, and schools, slowing down long-term economic progress.
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Countries projected to have the lowest nominal GDP (2025)
  • With a projected GDP of $80 million, Tuvalu ranks as the smallest economy globally, producing less in a year than many corporations earn in a day.
  • Even when put together, these small economies still fall far behind the economic output of many mid-sized countries or cities.
  • Nigeria’s $199.72 billion GDP overshadows the economies of these nations.
  • Many of the world’s smallest economies are Pacific and Caribbean island nations, which often depend on tourism, remittances, and international aid.
  • With limited industries and small populations, these economies are highly vulnerable to external shocks like climate change, supply chain disruptions, or shifts in global tourism trends.
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Age (in years) of African nations since independence (top 10 and bottom 10)
  • Gaining independence in 1847, Liberia has been free for 177 years, long before most African nations began their fight for sovereignty.
  • With only 13 years of independence, South Sudan remains the newest nation on the continent, still navigating the challenges of nation-building.
  • The difference between Liberia and South Sudan is 164 years, showing the vast timeline over which African nations gained independence.
  • The majority of African nations secured sovereignty between the 1950s and 1970s, marking the height of the decolonisation movement.
  • Countries like Zimbabwe (1980), Namibia (1990), and Eritrea (1993) faced prolonged struggles against colonial rule.
  • Despite Liberia’s long years of independence, it has faced civil wars and economic instability, showing that the length of sovereignty doesn’t always translate to political or economic strength.
  • While sovereignty marks a historic milestone, many African nations, especially younger ones like South Sudan, continue to grapple with political, economic, and developmental challenges even decades after gaining independence.
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Key takeaways:
  • BUA Foods saw a significant profit increase between Q1 2021 and Q4 2024, with notable highs in 2024.
  • In Q3 2023, there was a drastic drop in profits, which was subsequently followed by a robust recovery.
  • The highest profit before tax was recorded in Q3 2024 at ₦78.47 billion.
  • Quarterly profits varied, ranging from as low as ₦2.02 billion to as high as ₦78.47 billion.
  • A significant turning point occurred in 2024, with quarterly profits consistently surpassing ₦60 billion.
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