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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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    Nigeria has added ₦23.9 trillion to the debt it owes creditors within the country as of Q2 2023. As of June 2023, the country's domestic debt had risen from ₦30.2 trillion in March to ₦54.1 trillion, a 79% increase.

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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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    The FAAC's revenue distribution from 2017 to August 2023 highlights the dominance of Delta, Akwa Ibom, Rivers, and Bayelsa states in allocations. Despite Lagos' economic prominence, it ranked fifth. Here is the distribution of revenue among states between 2017 and August 2023.

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  • Miss Universe - Top countries by the number of wins since 1952
    • 2000–2005: Of the titles, two went to Venezuela and one to India and Puerto Rico. India's win in 2000 marked its first Miss Universe title.
    • 2006–2010: Mexico, Venezuela, and Puerto Rico each managed to win a single contest. Mexico's win in 2010 was particularly historic, given that it was the first time the country won the title of Miss Universe.
    • 2011–2015: While the Philippines and Venezuela each won two titles, Colombia took one.
    • 2016–2020: Mexico and South Africa managed one victory each; South Africa had consecutive victories in 2017 and 2019.
    • 2021–2024: India, Mexico, South Africa, and Denmark each secured one win. This win for India in 2021 is the third Miss Universe title in the country.
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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
     
  • Nigeria's debt service per GDP rose from 0.9% in 2009 to a projected 15.1% in 2025.
  • Overall CAGR from 2009 to 2025 is 17.8%.
  • President Muhammadu Buhari’s tenure saw the fastest growth (29.1% CAGR).
  • Under President Goodluck Jonathan, growth was slower (6.5% CAGR).
  • President Bola Ahmed Tinubu’s term so far shows a 27.6% CAGR.
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  • Debt service in Angola hit 68.3% of GDP in 2024.
  • Even with a projected fall to 67.7% in 2025, the debt burden remains high.
  • Between 2009 and 2025, the debt service ratio grew at a CAGR of 11.2%.
  • The ratio stayed below 15% from 2009 to 2014 before surging to 41.9% in 2016.
  • Angola has faced multiple spikes above 50% since 2019, showing recurring debt strain.
  • The sharp drop to 31.2% in 2022 was short-lived, followed by a steep increase.
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  • Africa’s population in H1 2025 stood at 1.51 billion.
  • Eastern Africa is the most populous region with 500.7M people (33.0%).
  • Western Africa follows with 456.3M (30.1%).
  • Together, Eastern and Western Africa account for over 63% of Africa’s total population.
  • Southern Africa is the least populous with 73.1M (4.8%).
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  • Africa’s largest net migration gain was in 1985, with +328K people.
  • The continent faced its steepest loss in 2010, with -998K.
  • 2020 was a standout year in recent decades with +248K net gain.
  • The 2024 net migration figure of -644K is the third-largest loss since 1955.
  • Despite a partial recovery in 2025 to -378K, losses still outweigh gains.
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  • Africa’s share of the global population has more than doubled, from 9.3% in 1955 to an estimated 18.8% in 2025.
  • The most rapid growth has occurred since 2000, increasing from 13.5% to 18.8% over 26 years.
  • Between 1980 and 2000, Africa’s share rose modestly from 10.9% to 13.5%.
  • The most significant 20-year gain occurred between 2000 and 2020, with an increase of 4 percentage points.
  • Population growth in Africa contrasts with stagnation or decline in many other parts of the world.
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  • Nigeria leads Africa with 1,630.83 points, ranked 36th globally, maintaining their long-standing supremacy in Africa's women’s football.
  • South Africa remains second, 165 points behind Nigeria, consolidating their position after consistent WAFCON performances.
  • North Africa's breakthrough is evident with Morocco at 3rd, driven by recent World Cup appearances and continental success.
  • There is tight competition in mid-table, with Zambia, Cameroon, and Ghana separated by less than 12 points.
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  • Nigeria’s D’Tigress leads Africa with 640.1 points, holding 8th place in the world rankings.
  • Mali sits in second with 343.7 points, more than 290 points behind Nigeria.
  • Senegal, Mozambique, and Cameroon complete Africa’s top five, all ranked within the global top 40.
  • South Sudan enters the continental top 10 at 10th, while ranking 55th globally.
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  • The USA dominates the rankings with 880.9 points, holding a significant lead over second-placed Australia (719.6).
  • France and China follow closely in 3rd and 4th, separated by just 6.5 points.
  • Nigeria’s D’Tigress ranks 8th globally with 640.1 points, the highest for any African nation.
  • Brazil and Serbia round out the top 10, both under 640 points.
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  • Nigeria led with 78.9 Mtoe, accounting for over 22% of Africa’s total oil output.
  • Algeria (59.3 Mtoe) and Angola (57.4 Mtoe) followed closely; the three top producers together supplied] 56% of the continent’s oil.
  • Africa’s total oil production was 345.5 Mtoe, just 7.6% of the global total (4,542.7 Mtoe).
  • The top 5 producers accounted for over 80% of Africa’s oil.
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  • The United States of America dominated the production of gas oil with 234,886 metric tons, making up 32.4% of the global total in 2023.
  • Only four countries in Africa, Niger, Chad, Ghana and Zambia, produced gas oil.
  • Africa barely produced 0.13% of the global total of gas oil.
  • Australia imported 25.1k metric tons of gas oil, making it the country with the highest quantity of gas oil import in 2023.
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  • FIRS recorded ₦15.9 trillion of non-oil tax, almost three times the ₦5.8 trillion recorded for oil tax.
  • Non-oil tax revenue made up 73.3% of the total revenue collected in 2023.
  • From 2012 down to 2024, non-oil tax revenue surpassed oil tax revenue most of the time.
  • Oil taxes are petroleum profit tax and company income (oil & gas) tax while non-profit tax includes company income (non-oil) tax, gas tax, capital gains, stamp duty, NCS import VAT, and non-import VAT.
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  • The United States of America led the production of black liquor with 696.0PJ produced making up 38.9% of the global total produced in 2023.
  • South Africa is the only African country producing black liquor with 16.4PJ produced making up 1% of the global total.
  • The total amount of black liquor produced globally in 2023 was 1,787PJ.
  • Sweden, Canada, Finland and Japan produced 185.1PJ - 10.4%, 157.9PJ - 8.8%, 142.5PJ - 8.0% and 133.0PJ - 7.4% respectively.
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  • Among the 113 countries measured in the 2022 Global Food Security Index, Nigeria is ranked 107th overall, putting it deep in the bottom ten globally.
  • Nigeria has the lowest affordability score globally in the GFSI 2022, scoring only 25.0 in that pillar.
  • The country performs marginally better in other pillars: its score in “Quality and Safety” is relatively higher (55.6), and “Sustainability and Adaptation” is 53.7. But other pillars like “Availability” (39.5) remain weak.
  • Globally, a group of countries, including Nigeria, DR Congo, Sudan, Venezuela, Burundi, Madagascar, Sierra Leone, Yemen, Haiti, and Syria, all cluster at low overall GFSI scores (below ~45), reflecting severe challenges.
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  • South Africa leads Africa on the 2024 Global Travel & Tourism Index, ranking 55th worldwide with a TTI score of 3.99.
  • Mauritius and Egypt follow closely, placing 57th and 61st globally, both scoring just below 4.0, showing strong competitiveness.
  • North Africa dominates the list, with Egypt, Morocco, and Tunisia all making the top 10, highlighting the region’s strategic tourism appeal.
  • Rwanda and Namibia stand out despite being ranked lower globally (93rd and 95th), reflecting progress in tourism development in smaller economies.
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  • China remains Nigeria’s largest import partner, accounting for ₦4.96T or 32.45% of total imports—more than double the U.S.'s share.
  • The United States holds second place in imports, contributing ₦2.16T (14.12%), while India, the Netherlands, and the UAE follow with smaller shares below 6%.
  • Spain tops Nigeria’s export market, receiving ₦2.47T worth of goods, representing 10.85% of total exports.
  • Europe features strongly among export partners, with Spain, France, and the Netherlands together absorbing nearly a quarter of Nigeria’s outbound trade.
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  • Togo leads on both sides of trade, supplying ₦211.99B in imports and receiving ₦811.97B in exports, making it Nigeria’s strongest African partner by value.
  • South Africa ranks second, with imports of ₦115.15B and exports of ₦473.65B, reflecting deep bilateral trade ties.
  • Côte d’Ivoire also features prominently, sending ₦106.15B worth of goods to Nigeria while importing ₦408.97B, showing balanced engagement.
  • West Africa dominates Nigeria’s intra-African trade, with Togo, Côte d’Ivoire, and Ghana collectively accounting for a significant share of regional exports.
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  • Petitions peaked in 2022, with 474,301 filed, but only 442,043 approved, marking the widest gap in the five-year period.
  • 2021 was unique, as approvals (407,071) actually exceeded the number of petitions filed (398,269), reflecting carryovers or adjustments from prior years.
  • 2023 saw the lowest filings and approvals, at just under 387,000 each, signalling reduced demand or stricter caps.
  • By 2024, filings rebounded to over 427,000, but approvals lagged at 399,402, continuing the trend of more petitions being filed than granted.
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  • Trade contributed 18.28%, making it the largest sector in Q2 2025's GDP.
  • Crop production followed with 17.8%, underscoring agriculture’s central role.
  • Oil and gas added just 4.05%, highlighting its shrinking share compared to non-oil sectors.
  • Real estate and telecoms reinforced the growing strength of services in the Nigerian economy.
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