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  • Since 2011, over ₦32.8 trillion has gone to Nigeria’s state governors from the Federation Account Allocation Committee (FAAC). States from the South East have received ₦3.3 trillion combined, the least nationwide.

     

    This fund allocation is to ensure that all levels of government have the necessary funds to meet their financial obligations and to provide public services.

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    Newzoo, a provider of video game and gamer data, reported that in 2023, Nigerian mobile gamers spent approximately $229.7m — the highest expenditure in Africa — boasting a sizable 14.7m spenders.

    Egypt's gamers spent an estimated $212.6m and occupied second place in Africa's mobile gaming expenditure ranking.

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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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    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's VAT revenue has grown every year since 2013, reaching ₦3.6 trillion in 2023. The amount collected in 2023 exceeded 2022’s by ₦1.13 trillion — a 45% increase.

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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 recorded $126.3 million in foreign direct investment during Q1 2025, comprising 2.2% of the country's total capital importation.
  • Equity investment was the primary FDI channel, accounting for $124.31 million or 98.4% of the total FDI.
  • "Other Capital" (possibly intra-company loans or reinvested earnings) contributed just $1.98 million, a marginal 1.6% share.
  • The dominance of equity suggests that foreign investors are committing more to long-term ownership and participation in Nigerian businesses rather than short-term financing
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  • Nigeria recorded $5.64 billion in total capital importation in Q1 2025.
  • Portfolio investment alone contributed a massive $5.2 billion, 92.3% of total inflows.
  • FDI contributed just $126.29 million, making up only 2.2% of total capital importation.
  • Loans totalled $311.17 million, accounting for 5.5% of the total inflow.
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  • Nigeria attracted $5.2 billion in portfolio inflows in Q1 2025, making up 92.3% of all capital importation.
  • With $4.2 billion, money market instruments accounted for a dominant 80.9% of portfolio investments.
  • Bonds contributed $877.4 million, roughly 16.8% of portfolio inflows.
  • Equities saw the smallest share, at $117.3 million or just 2.3% of portfolio capital inflows.
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  • Nigeria’s GDP per capita stayed above the Sub-Saharan African average from 2002 to 2023.
  • In 2014, Nigeria peaked at $3,088.7, far ahead of the region’s $1,886.5.
  • The post-2014 oil crash triggered a prolonged economic slide for Nigeria.
  • By 2023, Nigeria ($1,596.6) and Sub-Saharan Africa ($1,580.8) were nearly identical.
  • In 2024, Nigeria fell sharply to $806.9, $710 below the regional average of $1,516.4, its widest gap in over two decades.
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  • Coal contributes a staggering 81.8% of South Africa’s total electricity generation.
  • Renewables remain marginal, with wind, solar photovoltaic (PV), and solar thermal collectively accounting for less than 8%.
  • Nuclear power holds a modest role, supplying 3.73% of the total output.
  • Hydropower and oil are limited contributors, together making up just over 6%.
  • Clean energy is growing, but slowly, with solar photovoltaic (PV) and wind leading the charge among non-fossil sources.
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  • Between 2000 and 2008, Ghana’s GDP per capita rose from $253.7 to $1,182.7, more than quadrupling in just nine years.
  • It peaked in 2013 at $2,294.8 but declined sharply after 2014.
  • After a dip in 2022, it rebounded to $2,405.8 in 2024, nearly 10 times higher than the figure in 2000.
  • The declines seen in 2009, 2015, and 2022 mirror global and local crises, including the 2008 financial crash, commodity shocks, and post-COVID disruptions.
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  • The Western Pacific Region is projected to lead globally in nursing personnel by 2030, with an estimated 9.7 million nurses — more than Africa and Southeast Asia combined.
  • The Americas (8.9M) and Europe (8.2M) are expected to follow, maintaining high nurse-to-population ratios.
  • Africa (2.1M) and the Eastern Mediterranean (1.5M) are projected to remain lowest, despite growing health needs.
  • South-East Asia (5.5M) shows steady growth but still lags behind the top three regions.
  • The global nursing workforce is projected to reach 35.9 million by 2030, up 73% from 2013 — but growth remains uneven.
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  • Company Income Tax (Non-Oil) emerged as the largest contributor, accounting for over 30% of total tax revenue.
  • NCS-Import VAT followed closely, contributing 23.63%, emphasising the significance of import-related taxes to Nigeria's revenue.
  • Traditional oil-based taxes such as Petroleum Profit Tax/Hydrocarbon Tax and CIT (Oil & Gas) jointly contributed over 26%, showing that oil remains a vital but declining pillar.
  • Newer tax streams like the Electronic Money Transfer Levy and NASENI (National Agency for Science and Engineering Infrastructure) funding have emerged, but still make up less than 2% of total revenue.
  • Minor tax categories like Capital Gains Tax, NITDEF (National Information Technology Development Fund), and NPTFL (Nigeria Police Trust Fund) had negligible impact, each contributing less than 0.5%
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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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  • Per-user data usage more than doubled in 29 months.
  • The surge [was] driven by heavier usage, not more users.
  • February dips and year-end spikes show seasonal habits.
  • 2024 marked a lasting shift to higher monthly data use.

 

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  • In 1970, about 76.7% of Nigerian women of reproductive age were married, compared to 66.4% in 2024.
  • The trend shows a consistent decline in marriage rates among women of reproductive age over the past five decades.
  • Marriage among reproductive-age women in Nigeria is projected to drop further to 64.5% by 2030.
  • Between 1985 and 2005, the marriage rate among women in this group declined more sharply than in previous decades.
  • The data indicates a gradual but steady societal shift away from early or widespread marriage.
  • Modern factors such as education, urbanisation, and career options likely contribute to this ongoing decline.
  • This decline in marriage rates may have ripple effects on fertility trends, family size, and national planning.
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  • South Sudan and Zimbabwe have crossed 100% food inflation.
  • Three of the top five countries with the highest food inflation in Africa are in East Africa, showing a regional pattern of vulnerability.
  • Nigeria ranks 7th in Africa for food inflation at 21.3%, underlining persistent cost-of-living pressures despite being a major economy.
  • Liberia and Zambia round out the top 10 with double-digit food inflation.
  • Djibouti, Somalia, and Senegal are experiencing food price deflation, setting them apart from most African countries.
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  • Private households hold the largest share of credit at 27.8%.
  • Trade accounts for 14.4% of outstanding private sector loans.
  • Manufacturing makes up 12.3% of the private sector credit share.
  • Combined, households, trade, and manufacturing absorb 54.5% of all private credit.
  • Consumer durables contribute 9.4% of outstanding loans.
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  • Nearly three-quarters of all startup funding in Africa came from equity financing at 74.1%.
  • A significant 25.2% of funding was raised through debt, showing increasing reliance on loans and credit.
  • Only 0.7% of startup funding came from grants, reflecting limited non-dilutive capital support.
  • The high share of equity signals sustained investor belief in Africa’s startup ecosystem despite global headwinds.
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  • The financial services sector attracted the largest share of funding at $806.3m, accounting for more than 40% of total startup investment.
  • Renewable energy secured $377.1m, showing strong investor appetite for sustainable solutions in Africa.
  • Telecommunications raised $316.0m, while mobility & logistics brought in $222.8m, highlighting infrastructure-driven growth.
  • Electric vehicles ($87.9m), e-commerce ($50.3m), and crypto/blockchain ($35.3m) attracted meaningful investments, signalling diversification beyond traditional sectors.
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  • ₦7.88 trillion worth of manufactured goods made up 51.6% of imports, underscoring Nigeria’s dependence on foreign industrial products.
  • Other petroleum oil products accounted for ₦2.79 trillion (18.2%) of imports, showing continued reliance on external energy supplies despite Nigeria’s oil-rich status.
  • ₦1.72 trillion in raw material imports (11.3%) highlights the gap in local processing capacity.
  • Solid minerals (₦70.9 bn, 0.46%) and energy goods (₦150 mn, almost 0%) show almost no role in imports.
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  • Total trade in Q2 2025 was valued at ₦38.04tn.
  • Imports accounted for ₦15.29tn, led by manufactured goods and petroleum products.
  • Exports reached ₦22.75tn, boosted mainly by crude oil.
  • The trade gap favoured Nigeria with a surplus of ₦7.46tn.
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  • Osun’s Internally Generated Revenue (IGR) grew from ₦11.78b in 2015 to ₦54.70b in 2024, marking a 364% increase.
  • The state maintained steady annual growth after 2017, with notable acceleration from 2020 onward.
  • The single biggest leap occurred between 2023 and 2024, with revenue nearly doubling from ₦27.72b to ₦54.70b.
  • The upward trend reflects improved tax collection, diversification of revenue sources, and stronger fiscal policies.
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