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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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    Bitcoin has seen remarkable growth since 2010. Starting from a high of just $0.5 in 2010, it reached an all-time high of $73.7k in March 2024.

    It recorded new peaks in 2011, 2013, 2017, 2020, 2021, and recently in 2024.

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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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    Africa's sanitation crisis is alarming, with 17 of the top 20 countries having the highest open defecation rates.

    Eritrea (67%), Niger (65%), and Chad (63%) lead, putting millions at risk of disease.

    Even Nigeria, the most populous African country, has 18% of its population practising it.

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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.

    See more
Other Insights
     
  • Angola and Ethiopia account for the highest debt service-to-GDP ratios in Africa, both exceeding 67%.
  • East Africa dominates the high debt-servicing bracket, with five countries among the top ten most burdened.
  • Algeria has the lowest debt service-to-GDP ratio on the continent at just 0.10%.
  • There’s a wide gap between the top and bottom debt service burdens, reflecting divergent fiscal paths across Africa.
  • Low debt servicing doesn’t automatically mean economic strength—it may reflect limited borrowing capacity.
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  • Algeria’s debt service per GDP dropped from 0.77% in 2009 to a projected 0.09% in 2025.
  • The country’s debt service per GDP declined at a -11.9% CAGR from 2009–2025.
  • A high of 0.73% occurred in 2012 before the consistent decline resumed.
  • By 2015, the country's debt service fell to 0.27%, showing progress in reduction.
  • The lowest point is forecast for 2025, at 0.09% of GDP.
  • Algeria’s debt burden is among the lowest in Africa, contrasting with the rising trend in many other nations.
  • This low debt service level allows for greater fiscal flexibility in public spending and investment.
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  • 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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  • Only 12.1% of entrepreneurs are aged 18–25, showing limited entry among very young adults.
  • The largest groups are 26–35 (33.3%) and 36–45 (33.8%), together accounting for two-thirds of entrepreneurs.
  • Mid-life representation: 14.6% are aged 46–55.
  • Just 6.2% are 56 and above, indicating fewer older adults start or run MSMEs.
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  • 48.8% of MSMEs earn less than ₦100,000 monthly.
  • 19.5% report revenues between ₦100,000 and ₦199,900.
  • The share of businesses decreases steadily in the ₦200,000–₦999,900 bands, ranging from 9.3% to 6%.
  • Only 8.8% of MSMEs earn above ₦1 million monthly, with just 0.4% exceeding ₦100 million.
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  • Mauritius leads Africa with the highest GII score (32.5), ranking 53rd globally out of 139 countries.
  • North Africa dominates the top 5, with Morocco and Tunisia both strong performers.
  • Sub-Saharan Africa’s bright spots include South Africa, Seychelles, Botswana, and Senegal.
  • Nigeria is 105th globally (21.1), highlighting Africa’s uneven innovation capacity.
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  • At independence in 1960, Nigeria contributed about 10% of Africa’s GDP, establishing itself early as one of the continent’s largest economies.
  • Nigeria’s share peaked at 31% in 1981 during the oil boom, highlighting the dramatic impact of natural resources on the economy.
  • Between the mid-1980s and 2000s, Nigeria’s share fluctuated significantly, dropping to 9.2% in 1999 due to political instability, economic mismanagement, and external shocks.
  • By 2024, Nigeria’s share fell to 7.1%, despite a GDP of $187.8 billion, showing slower relative growth compared to other African economies and the ongoing need for economic diversification.
  • This share reflects Nigeria’s relative position in Africa’s economy over time, showing how it moved in relation to the growth of the rest of the continent.
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  • After yielding 61.9 million tonnes, yams were valued at $25.4 billion in 2023, the highest among reported commodities.
  • With 62.7 million tonnes produced, cassava generated $9.1 billion, making it the second most valuable crop.
  • Okra ($818/t), tomatoes ($808/t), and pineapples ($753/t) earned the highest returns per unit despite smaller volumes (1.6–3.8 million tonnes).
  • Maize ($3.7 b, 11.1 m t), rice ($3.1 b, 8.9 m t), sorghum ($2.3 b, 6.4 m t), cowpeas ($1.2 b, 4.3 m t), and groundnuts ($0.9 b, 4.3 m t) form the backbone of production.
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  • In 2023, the total number of African-born immigrants in the US was about 2.79 million.
  • Western Africa is the largest source region, contributing 1.08 million immigrants (39%), led by Nigeria (476k).
  • Eastern Africa is the second-largest source (28%), dominated by Ethiopia (278.2k).
  • Northern Africa accounts for 17%, mainly from Egypt (225.7k).
  • Central Africa contributes 8%, with Cameroon (90.7k) as the top country.
  • Southern Africa is smaller at 5%, almost entirely from South Africa (133.4k).
  • Five countries—Nigeria, Ethiopia, Egypt, Cameroon, and South Africa—together make up nearly half of all African-born immigrants in the US.
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