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  • In Q4 2023, Spectranet maintained its top position as Nigeria's biggest internet service provider with nearly 114k active subscribers, holding 43% of the market share. FiberOne followed with 10% of the market.

    Starlink increased its subscriber base by 113% to claim the 3rd position with 9% of the market.

    Here are Nigeria's top internet service providers by active subscribers in Q4 2023.

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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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  • The 2024 Global Peace Index reveals a decline in peacefulness in 97 countries, the highest since the index began.

    Nigeria is among the nations affected by regional conflicts and rising violence. With a peace index score of 2.91, Nigeria is facing increasing challenges.

    A deteriorating peace score impacts foreign investment and economic stability. Global economic losses due to violence reached $19.1 trillion in 2023.

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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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  • 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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    Countries by Global Innovation Index 2024

    The Global Innovation Index 2024 reveals a striking contrast in innovation performance between countries globally and across Africa. Switzerland leads the global rankings with an impressive score of 67.5, followed by Sweden (64.5) and the USA (62.4), highlighting their sustained investments in research, development, and technological advancement.

    In Africa, Mauritius takes the top spot with a score of 30.5, followed closely by Morocco (28.8) and South Africa (28.3). However, even Africa's most innovative nations achieve less than half the score of global leaders, indicating a significant innovation gap.

    Nigeria ranks 15th in the African ranking and 113th globally, out of 133 countries, with a score of 17.1.

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  • Nigeria’s public debt decreased in dollar terms between June 2023 and June 2024. However, when converted to naira, it jumped to ₦134.3 trillion, largely due to currency devaluation. This sharp increase in debt could lead to tighter budgets, potentially affecting public services and everyday costs for Nigerians.

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  • MTN Nigeria has dominated the country's telecommunications market over the years, accounting for the largest market share. All four operators, apart from 9mobile, recorded a significant increase in their subscriber base between May 2014 and March 2024.

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  • The 2024 Global Peace Index reveals a decline in peacefulness in 97 countries, the highest since the index began.

    Nigeria is among the nations affected by regional conflicts and rising violence. With a peace index score of 2.91, Nigeria is facing increasing challenges.

    A deteriorating peace score impacts foreign investment and economic stability. Global economic losses due to violence reached $19.1 trillion in 2023.

    See more
Other Insights
 
  • Nigeria’s sports budget rose sharply to ₦113 billion in 2025, tripling from the 2024 figure.
  • The 2025 allocation represents a 243.8% increase compared to the previous year.
  • Youth and Sports budget allocations were relatively stable between 2021 and 2023, averaging about ₦186 billion.
  • The splitting of the Ministry of Youth and Sports budgets in 2024 likely contributed to the steep dip that year.
  • The rebound in the sports development budget in 2025 signals government re-prioritisation of sports development.
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  • Africa’s cybersecurity score increased by 171% between 2017 and 2024.
  • The continent’s score rose from 21 in 2017 to 57 in 2024
  • Africa has reduced the gap with global averages, reducing the difference from 15 points in 2017 to 9 points in 2024.
  • The global cybersecurity score rose from 36 in 2017 to 66 in 2024.
  • Africa’s most notable leap was between 2021 (35) and 2024 (57), showing accelerated progress in recent years.
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  • Private sector credit growth peaked at 13.5% in Q4 2023.
  • Growth remained stable between 12 and 13% throughout 2022 and 2023.
  • A sharp decline began in 2024, dropping to 11.5% in Q1.
  • Credit growth plunged to 5.4% in Q2 2024, showing a steep contraction.
  • The lowest point was Q4 2024, at just 0.9%.
  • A rebound started in early 2025, with growth rising to 2.4% in Q1.
  • By Q2 2025, private sector credit growth recovered to 4.4%, though still far below its 2023 highs.
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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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  • English dominates globally with 1.5 billion speakers, nearly 300 million more than Mandarin Chinese.
  • Asian languages are highly represented, with Mandarin, Hindi, Arabic, Bengali, Indonesian, Urdu, Japanese, Marathi, Vietnamese, Telugu, and Turkish making up over half of the top 20.
  • Spanish and French stand out as major global languages, reflecting both native speakers and strong international adoption. African languages are emerging on the global stage, with Nigerian Pidgin (120.7M) and Hausa (94.4M) among the top 20.
  • The gap between top and bottom languages in the ranking is wide. English has over 15 times more speakers than Turkish, which closes the top 20 list.
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  • Comoros stands out with a corporate tax rate of 50%, the highest on the continent and far above the regional norm.
  • Chad and Equatorial Guinea follow at 35%, while Morocco and Cameroon set rates at 33%.
  • A broad cluster of 17 African countries, including Nigeria, Ethiopia, Kenya, and South Sudan, hold steady at the 30% rate.
  • All other African economies not listed apply corporate tax rates below 30%.
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  • South Africa sets the benchmark with the fastest average download speed (42.42 Mbps), more than double Morocco’s (19.61 Mbps).
  • Southern African countries dominate the top half of the ranking, with South Africa, Eswatini, Botswana, Lesotho, and Madagascar all featuring strongly.
  • Rwanda and Mauritius show East Africa’s progress, with average speeds above 30 Mbps, signalling solid digital infrastructure growth.
  • Wide disparities persist, with the gap between the highest (South Africa) and lowest (Morocco) averaging over 22 Mbps.
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  • The Nigeria Immigration Service received the highest share — ₦618.7 billion (55.8%) — of the Interior Ministry’s 2025 budget.
  • This allocation emphasises border security and migration management as national priorities.
  • The NSCDC follows with ₦240.9 billion (21.7%), highlighting the government’s focus on civil protection and internal security.
  • The Nigeria Correctional Service received ₦184.6 billion (16.7%).
  • Other agencies, including the ministry headquarters, received ₦64.5 billion (5.8%).
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  • The Federal Ministry of Arts, Culture, and Creative Economy received a total of ₦71.7 billion in the 2025 budget.
  • The National Commission for Museums and Monuments got the highest allocation of ₦15 billion.
  • Visual and film industries received notable funding of ₦10.1 billion for the National Gallery of Art and ₦8.4 billion for the Nigerian Film Corporation.
  • The National Council of Arts and Culture was allocated ₦7 billion.
  • The National Film and Video Censors Board received ₦4.4 billion, emphasising regulation and content oversight.
  • Institutions like the Centre for Black and African Arts and Civilisation, which promotes African identity, received ₦3.5 billion.
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  • Enugu led the country in IGR growth in 2024 with a 433% increase.
  • Bayelsa, Jigawa, Kano, and Osun also experienced large year-on-year increases, indicating widening fiscal activity across regions.
  • Lagos, Rivers, and the FCT recorded slower growth rates but still generated the largest total revenues.
  • The fastest growth often came from states focused on reforming tax systems or broadening local revenue sources, rather than from being traditionally big or wealthy states alone.
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  • Lagos drives most revenue in the South West, accounting for the clear majority of the region’s IGR.
  • Each geopolitical zone has one dominant state that shapes its revenue profile.
  • Fiscal capacity remains heavily skewed toward a few urban and resource-rich states.
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  • Every subsidiary reported profit in H1 2025, compared to three loss-making units in H1 2024.
  • Nigeria’s profit eased, but stronger performance across other African markets helped support overall group results.
  • Zambia, Sierra Leone, the DRC, Cameroon, and Kenya showed notable turnarounds from previous low or negative earnings.
  • The UK operation remained a major contributor, reinforcing the benefits of Access Holdings’ diversified regional presence.
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