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  • Nigeria’s electricity distribution companies (DISCOs) generated ₦1.07 trillion revenue in 2023 — double 2020's amount and 3.8x that of 2015. From 2015 to 2023, revenue has grown from ₦279b to ₦1.07t, while customer base has increased by over 5m, from 7m to 12.1m.

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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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  • 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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    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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  • 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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    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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  • 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.

    See more
Other Insights
 
  • Estimates place Sierra Leone at the top, with about 64.5% of its GDP tied to the shadow economy.
  • Niger (56.3%) and Ethiopia (50.2%) are the only other nations where over half of economic activity is informal.
  • Even larger economies like Nigeria (30.0%) are estimated to have nearly a third of their GDP in unrecorded transactions.
  • Across the listed countries, estimates range from 28.1% to 64.5%, revealing deep but varied informality in African economies.
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  • The FIRS collected ₦21.7 trillion, outpacing the target of ₦19.4 trillion set by the government.
  • FIRS grossed its highest revenue of all time since 2012 in 2024.
  • Comparing the values of 2021, 2022, 2023 and 2024 reveals a significant shift.
  • The tax revenue collected in 2024 surpassed the amount collected in 2023 by an outstanding 75.6%.
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  • The highest-ranked countries have managed to provide electricity to every single citizen.
  • Four of the six countries with 100% access are from North Africa.
  • The list isn't a continuous climb; there's a big jump down from the 100% group to the rest of the top 15.
  • The data shows that with the right investment and policies, it is a very realistic goal for a country to achieve full electrification.
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  • Sudan’s debt-to-GDP ratio of 238.8% is the highest in Africa and over twice the size of its economy.
  • Three African countries—Sudan, Cabo Verde, and Zambia—have debt burdens exceeding 100% of their GDP.
  • Egypt, Mozambique, and the Congo Republic follow closely with ratios above 88% each, despite efforts at economic reform.
  • Ghana and Sierra Leone are also in the top 10, showing that West Africa isn’t exempt from debt pressure.
  • Nigeria, while not in the top 10, has a debt-to-GDP ratio of 41.3% and ranks 43rd in Africa.
  • A high debt-to-GDP ratio often limits a country’s ability to invest in growth-driving sectors, even if the economy is growing nominally.
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  • DR Congo has the lowest debt-to-GDP ratio in Africa, at just 11.1%.
  • Africa’s average debt-to-GDP ratio stands at 63.2%, meaning most countries on the bottom 10 list are performing better than the continental average.
  • Nigeria, despite its size and challenges, still maintains a relatively moderate debt load of 41.3%.
  • Botswana’s debt ratio of 18.1% places it among Africa’s most fiscally conservative economies.
  • Ethiopia and Guinea, both undergoing major economic transitions, still keep debt levels below 32%.
  • The presence of both low-income and resource-rich countries on the list shows that low debt isn’t exclusive to one economic model.
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  • The low access rates in nations like South Sudan and the Central African Republic are often linked to conflict and instability.
  • Fourteen countries on the continent have less than 50% of their population with electricity.
  • At the very bottom of the list, South Sudan has a 5.40% access rate, while Burundi stands at 11.60% and Chad at 12.00%.
  • Twelve African countries have less than 40% access.
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  • The United Kingdom accounted for over 62% of total capital imports into Nigeria in Q1 2025.
  • South Africa and Mauritius are the only African countries in the top 10, ranking 2nd and 3rd respectively.
  • Traditional powerhouses like the US and UAE contributed significantly less than the UK.
  • Emerging markets like the Cayman Islands and Singapore also made the list, reflecting Nigeria’s diverse capital origin base.
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  • Nigeria now has 7 AfroBasket titles, with five consecutive wins from 2017 to 2025.
  • Senegal leads the all-time chart with 11 titles, last winning in 2015.
  • Only three countries, Senegal, Nigeria, and Congo have more than two titles.
  • Nigeria is the only team to win five consecutive titles in a row.
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  • Nigeria’s capital importation fell from $21.3 billion in 2013 to $12.3 billion in 2024, marking a 42% decline over the 12-year period.
  • After four years of consistent decline, capital inflows surged by 215% in 2024, rising from $3.9 billion in 2023 to $12.3 billion.
  • The data reflects sharp swings, with 2019 peaking at $24 billion, followed by a 60% plunge in 2020 due to global and domestic disruptions.
  • In 2023, capital imports plummeted to their lowest point of the 12-year period, reaching just $3.9 billion.
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  • 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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  • 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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  • Production dipped sharply in 2022, with the steepest quarterly decline of –16.08% in Q3, before recovering at year-end.
  • 2023 marked a rebound year, highlighted by strong quarterly growth of 18.85% in Q3, lifting production back above 1.5 mbpd.
  • 2024 showed relative stability, with modest fluctuations; production only briefly fell below 1.5 mbpd before gradually recovering.
  • By Q2 2025, output hit 1.68 mbpd, the highest in the series, supported by consistent growth in three straight quarters.
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  • Nigeria received a total of 880 H-1B visas in FY 2024, averaging about 73 per month.
  • December 2023 was the peak month, with 118 issuances, while June 2024 recorded the lowest at just 46.
  • Issuances fluctuated throughout the year, reflecting no clear upward trend but significant month-to-month volatility.
  • Despite peaks and dips, overall activity remained steady, with most months ranging between 60–90 approvals.
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  • Nigeria ranked first in Africa, with 880 H-1B visas issued in FY 2024, far ahead of Ghana (499) and Egypt (364).
  • East and Southern Africa featured prominently, with Kenya (320), South Africa (208), and Zimbabwe (132) among the top 10.
  • North African representation was modest, with Morocco (78) and Egypt (364) being the only countries in the region on the list.
  • Despite these numbers, Africa’s collective total is marginal globally, especially compared to India’s ~150,000 issuances and China’s large volumes.
  • President Donald Trump’s $100,000 fee for new U.S. H-1B skilled worker visas will have limited impact on Africa, which has historically received only a small fraction of these visas.
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  • Ghana secured 499 H-1B visa approvals in FY 2024, averaging about 42 per month.
  • April 2024 was the highest month with 80 visas, while September 2024 dropped sharply to just 16.
  • Visa issuances were relatively steady until early 2024, before a mid-year surge and late-year decline.
  • Ghana ranks second in Africa for H-1B visas, behind Nigeria, reflecting its growing pool of skilled professionals abroad.
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  • 2024 recorded the highest number of H1-B issuances to Nigerians at 880, nearly double 2022’s level.
  • Issuances dropped sharply to 231 in 2020 and 197 in 2021, marking the lowest levels in nearly two decades.
  • Between 2006 (483) and 2017 (354), there was a gradual decline in approvals before a steeper fall in 2020.
  • From 2021 to 2024, issuances surged by more than 340%, suggesting strong demand for U.S. tech and professional opportunities among Nigerians.
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