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  • In the past 10 years, Nigeria has received $131 billion in capital imports

    Nigeria's capital importation has been on a decline after it hit a $24 billion peak in 2019. In the past 10 years, it received $131 billion, with the lowest recorded in 2016. Here are the country's capital imports since 2013.

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    Global inflows of foreign direct investment fell by 12% in 2022, and Africa saw a 44% decline from $80 billion in 2021 to $45 billion. According to UNCTAD data, only two of Africa's five major regions — North and East Africa — saw a rise in FDI in 2022.
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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 collected nearly ₦5 trillion income tax from companies in 2023. The amount collected in 2023 is 3.5x the collections in 2015 and 73% more than in 2022. Here are Nigeria's company income tax collections since 2015.

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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
 
  • Ronaldo leads the UEFA Champions League scoring chart with 141 goals, ahead of Messi's 129.
  • Salah and Drogba are the only two African players in the top 20 scorers list.
  • Just 8 goals separate the 10th and 20th-ranked scorers, showing how tight competition is outside the top ranks.
  • Haaland and Mbappé are the only two players under 30 in the top 15.
  • Legendary players like Neymar and Ibrahimović never broke into the top 10 despite long careers at top clubs.
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  • Starlink is cheaper than traditional ISPs in five out of the twelve African countries analysed.
  • Zimbabwe has the widest price gap, with traditional ISPs costing over 21 times more than Starlink.
  • Nigeria currently offers the cheapest traditional ISP plan at $9.59, undercutting Starlink’s price by a wide margin.
  • In Ghana and Kenya, Starlink’s monthly subscription is less than half the cost of the leading ISPs.
  • Only slight differences exist between Starlink and traditional ISP prices in Zambia and Botswana, indicating near-parity.
  • Mozambique and Cape Verde have moderate Starlink price advantages, suggesting potential for market competition.
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  • Sudan recorded the steepest GDP decline in Africa in 2024 at -13.49%.
  • Botswana’s economy contracted by -2.99%, the second-worst on the continent.
  • Libya was the only other country in the bottom 10 with negative growth at -0.61%.
  • South Africa, with 0.58% growth, continues to struggle with low economic momentum.
  • Sao Tome & Principe and Equatorial Guinea both recorded growth below 1%.
  • Despite being Africa’s largest economy, Nigeria’s 3.43% growth places it closer to underperforming countries than to the continent’s fastest risers.
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  • Rwanda recorded the highest GDP growth in Africa in 2024 at 8.89%.
  • Six out of the top ten fastest-growing economies in Africa are from West Africa.
  • Niger and Benin posted impressive growth rates of 8.42% and 7.45% respectively.
  • Nigeria, one of Africa’s biggest economies, had a growth rate of 3.43%, below countries like Senegal and Cabo Verde.
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  • Ikeja DisCo leads with a 78.45% metering rate, having metered over 1.03 million customers.
  • Abuja DisCo follows closely with a 71.60% metering rate and over 924,000 metered customers.
  • Ibadan has the highest number of registered customers, but only a 44.23% metering rate.
  • Kaduna and Kano have alarmingly low metering rates of 24.92% and 24.77%, respectively.
  • Yola DisCo has the lowest metering rate at just 14.45% of its 824,700 customers.
  • Eko DisCo has a relatively high metering rate of 63.92% despite having fewer registered customers.
  • Only 4 out of 13 DisCos have metered at least half of their customer base as of March 2025.
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  • Kano DisCo recorded the highest increase in metered customers with a 330.75% rise in just one quarter.
  • Aba DisCo more than doubled its metered customers, increasing by 116.87%.
  • Ikeja DisCo, despite being a top performer overall, saw a 23.62% drop in meter installations.
  • Enugu and Eko also recorded declines in quarterly deployments by 12.31% and 4.02% respectively.
  • Ibadan DisCo deployed the highest number of meters in Q1 2025 but grew at a moderate rate of 15.09%.
  • Yola DisCo experienced the steepest decline in the country, dropping by 56.70% in metered customers.
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  • Gabon imposes Africa’s highest international air travel tax at $297.70, followed closely by Sierra Leone at $294 and Nigeria at $180.
  • Libya charges the lowest air travel tax among the listed African countries at just $1.30, with other low-cost countries including Malawi ($5.00), Lesotho ($5.70), and Algeria ($9.80).
  • All of the 10 most expensive countries charge over $100 in departure taxes, suggesting a trend of high levies among a subset of African nations.
  • The gap between the highest and lowest air travel taxes in Africa exceeds $296, revealing significant disparities in passenger costs across the continent.
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  • Côte d'Ivoire attracted $3.80 billion in FDI in 2024, its highest annual inflow ever recorded, more than double 2022’s $1.6 billion.
  • Between 1990 and 2016, its FDI remained mostly below $1 billion annually, only beginning to surge from 2017 onwards.
  • The country crossed the $1 billion mark for the first time in 2021, signalling increased investor confidence and macroeconomic improvements.
  • Over the last three years (2022–2024) alone, Côte d'Ivoire drew in $7.89 billion in FDI, accounting for over 40% of total inflow since 1990.
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  • The United States remains the undisputed leader with 589 active rigs, accounting for nearly a third of all rigs worldwide in 2024.
  • Canada (162 rigs) and Iran (117 rigs) follow as the second and third highest contributors to global drilling activity.
  • Middle Eastern producers dominate the top 10, with Kuwait (80), UAE (73), Saudi Arabia (70), Iraq (62), and Oman (50) collectively operating 335 rigs.
  • Nigeria ranks 15th globally with 31 active rigs, making it one of only two African nations in the global top 20.
  • The top 10 countries account for over 75% of the world’s active rigs, reflecting the continued concentration of drilling infrastructure in a handful of key oil-producing regions.
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  • The world’s total proven recoverable crude oil reserves stand at 1.57 trillion barrels in 2024.
  • Venezuela, Saudi Arabia, and Iran collectively hold over 50% of these reserves, with 303.2B, 267.2B, and 208.6B barrels respectively.
  • Nigeria ranks 10th globally with 37.3 billion barrels, placing it ahead of other major producers like Kazakhstan, China, and Brazil.
  • The majority of the largest reserves are concentrated in Middle Eastern and South American countries, with only a few top holders located in North America, Africa, and Asia.
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  • India dominates global banana output with 36.6 million tonnes, accounting for over a third of total production among the top 10 countries.
  • China (11.7M) and Indonesia (9.34M) round out the top three, contributing significantly to Asia’s dominance in banana farming.
  • Nigeria ranks 4th globally, producing 7.3 million tonnes, slightly ahead of Ecuador and Brazil.
  • Africa is well represented, with Nigeria, Angola, and Tanzania collectively contributing 15.86 million tonnes, or about 16% of the top 10 output.
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  • Ethiopia recorded a total of $46.43 billion in foreign direct investment between 1990 and 2024.
  • Its annual FDI inflows surged from just $10 million in 1990 to $3.98 billion in 2024, reflecting massive investor interest over time.
  • The country experienced three major FDI booms in 1997–2004, 2011–2014, and 2015–2016, driven by policy reforms and industrial expansion.
  • After a pandemic-era dip in 2020, Ethiopia rebounded strongly in 2021 with $4.26 billion in inflows, maintaining high investment momentum through 2024
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  • Majority trust will be moderate to high: 92.6% of Nigerians are expected to have either high (43.9%) or moderate (48.7%) trust in financial institutions by 2025.
  • Transparency is the biggest driver of trust as 46.2% of respondents believe transparent policies and fees will most improve their trust.
  • Security is a rising priority; 30.2% of Nigerians highlight improved security features as a key factor in strengthening confidence in financial institutions.
  • Customer service and regulation still matter as 17% emphasise better customer service and 6.6% stronger regulatory oversight, showing that while oversight has a role, people prioritise fairness, safety, and service.
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  • São Tomé & Príncipe’s dobra is the weakest African currency, trading at over 22,000 per US dollar.
  • Sierra Leone and Guinea follow closely, highlighting persistent monetary pressures in West Africa.
  • Nigeria’s naira, despite recent reforms, ranks 9th weakest, reflecting ongoing exchange rate volatility.
  • East African currencies such as the Ugandan shilling, Tanzanian shilling, and Rwandan franc also appear, showing regional vulnerability.
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  • Jumia's highest sales are typically recorded in the fourth quarter of the year due to Jumia Black Friday, except in 2022.
  • Black Friday sales generally run through November.
  • GMV represents the total value of orders for products and services, including shipping fees and VAT, before discounts and irrespective of cancellations or returns.
  • GMV tracks platform usage and is not influenced by whether sales are first-party or third-party, or by the payment method used.
  • The lowest GMV in six years was recorded in 2024 at $720 million.
  • A major factor behind the GMV decline is foreign exchange depreciation, as 8 out of 10 local currencies in Jumia’s markets lost value against the US dollar, especially in Nigeria.
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  • Jumia launched JumiaPay in 2016 as a third-party payment solution.
  • Jumia partnered with Mastercard in 2016, and in 2019, Mastercard invested €50 million.
  • In June 2024, Jumia ended its commercial deal with Mastercard Asia/Pacific but still accepts Mastercard as payment method.
  • JumiaPay is available in nine countries, including Nigeria, Ghana, Kenya, and Egypt.
  • The JumiaPay app offers bill payments, airtime recharge, transport ticketing, and financial services.
  • JumiaPay’s digital and financial services category is its fastest-growing by GMV.
  • JumiaPay’s highest transaction share was 44.4% in 2024.
 
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  • Total fraud cases in Kenyan banks rose from 173 in 2023 to 353 in 2024.
  • Mobile banking fraud cases jumped by 87.2% to 146, making it the most common fraud type.
  • Online banking fraud recorded the steepest rise, growing by 457.9% to 106 cases.
  • Identity theft increased by 51.4%, reaching 56 reported cases in 2024.
  • Internet scams increased by 28.6%, totalling 9 cases in 2024.
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  • Jumia's highest active customers was recorded in the year 2022 with a total of 8.4 million users.
  • Jumia's highest number of orders was recorded in 2021 with a total of 39.4 million orders.
  • Jumia's lowest order record was in 2023, with numbers as low as 23.2 million, its lowest in seven years.
  • Jumia's fastest growing categories in terms of items sold are the food delivery and the FMCG, supported by the momentum of the grocery sub-category.
  • Fashion is the largest category of which orders are made in terms of items sold.
  • Jumia's largest markets are in Nigeria and Egypt.
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