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  • Over the past nine years, the UK has been a major player in Nigeria's economy, contributing a substantial 43% ($47.5b) of the total capital imports. The UK's biggest capital investments in Nigeria occurred in 2014 and 2019. Since peaking in 2019, they have fallen 75% as of 2022.
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    Per Africa Wealth Report 2024, South Africa maintained its position as the country with the most millionaires in Africa in 2023.

    The country has 2.4x the number of millionaires as Egypt and 4.6x the figure of Nigeria.

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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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  • While many living in Nigeria have already experienced the effects of the fuel subsidy removal on their daily expenses, this chart presents a clearer picture of reality. Will the prices of food items continue to rise? Is there hope of some respite soon?

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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
Total funding raised in West Africa, excluding exits (2019 - 2024)
  • Nigeria is the clear leader, securing over 80% of total startup funding in West Africa. Its ecosystem benefits from a strong fintech sector, a large market, and increased investor trust.
  • Ghana and Senegal are challengers, attracting $460M and $410M, respectively. These countries are proving they can compete but still have a long way to go to match Nigeria.
  • Nigeria’s startups raised over ten times more than Ghana, the second-highest country on the list. This highlights an imbalance in investor focus.
  • Benin ($133M) and Côte d'Ivoire ($107M) are rising players but remain in the shadows of the region’s top three. Their growing startup ecosystems could gain more traction with the right policies and investments.
  • Mali, Togo, and Sierra Leone struggle to attract major funding, receiving less than $30M each. This signals a need for stronger ecosystems and investor confidence in these markets.
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Share of global population - Top 10 countries as of 2025​
  • India is now the world’s most populous country, surpassing China with 17.78% of the global population.
  • China closely follows with 17.30%, showing that even though its population growth is slowing, it remains one of the most dominant globally.
  • The United States (4.23%) remains the most populous Western country, reinforcing its continued economic and political significance.
  • Nigeria leads Africa with 2.87% of the global population, showing that Africa's rising demographic weight will be a major factor in future economic and workforce trends.
  • Ethiopia (1.63%) is another African country on the rise, showing how Africa’s demographic shift is accelerating beyond just Nigeria.
  • Russia (1.76%) is the only European country on the list, underscoring Europe’s declining share in global population dynamics compared to the rapid growth of Asian and African nations.
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  • In 2023, over 324 million chickens were slaughtered in Nigeria, making them the dominant source of meat.
  • Goats and sheep followed at 28.23 million and 19.45 million, respectively, but their slaughter numbers were far lower than poultry.
  • Pigs accounted for 8.11 million slaughters, while cows were the least slaughtered at 3.32 million, likely due to their higher economic value.
  • The disparity in slaughter numbers highlights Nigeria's preference for poultry over red meat, aligning with global trends in cost-effective protein consumption.
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  • Moniepoint began as TeamApt in 2015, building solutions for banks before pivoting to agent banking in 2019.
  • In 2022, Moniepoint secured a banking license, launched business banking, and processed 5.2 billion transactions.
  • The company rebranded to Moniepoint in 2023, relocated to the UK, and launched personal banking.
  • By 2024, Moniepoint achieved unicorn status, with over $200 million in total funding.
  • In 2025, Moniepoint plans to expand into contactless payments and remittances through Monieworld.
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  • Nigeria leads Africa in total arable land with 36,872,000 hectares, more than twice that of Niger, the second-ranking country.
  • Niger ranks second with 17,700,000 hectares.
  • The Democratic Republic of Congo (DRC) ranks third with 13,680,000 hectares, revealing the role of Central Africa in agricultural land availability.
  • Other notable countries include Chad (5.3M hectares), Zambia (3.8M hectares), and Guinea (3.1M hectares).
  • The countries at the bottom of the top ten list, such as Congo (550,000 hectares), Liberia (500,000 hectares), and Mauritania (450,000 hectares), have relatively limited arable land compared to leading nations.
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  • The number of artists earning over $5,000 in royalties from Spotify has risen from 36,400 in 2017 to 110,500 in 2024, a 205% increase.
  • The growth trend accelerated significantly after 2020, crossing 80,000 artists by 2021.
  • Between 2017 and 2019, the growth rate was slower, rising from 36,400 to 53,700 artists in two years.
  • The most significant jumps happened between 2019-2021, as numbers surged from 53,700 to 81,700 artists.
  • The consistent rise suggests increased monetisation opportunities for independent and mainstream artists on Spotify.
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  • Avatar remains the highest-grossing movie globally, earning $2.92 billion.
  • Titanic, released in 1997, is still among the top-grossing films with $2.22 billion, showing the lasting appeal of classics.
  • Recent films like Avatar: The Way of Water ($2.32 billion) and Spider-Man: No Way Home ($1.92 billion) prove that sequels and superhero films continue to drive massive revenues.
  • Disney properties dominate the list, with multiple Marvel, Star Wars, and animated films ranking among the top earners.
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  • Dangote first announced the refinery in 2013 with a $9 billion plan, securing $3.3 billion in funding.
  • The estimated cost grew to $15 billion in 2017, as planned refining capacity increased to 650,000 barrels per day.
  • By 2023, the refinery was finally commissioned, after its total cost surged past $20 billion.
  • In December 2023, the first crude supply of 1 million barrels arrived, marking the start of operations.
  • By 2024, the refinery began producing diesel and jet fuel, with 6 million barrels received for processing.
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Key takeaways:

  • In 2024, BUA Foods hit new heights, with gross profit for Q4 surpassing ₦189 billion.
  • A remarkable surge occurred in 2024, with quarterly gross profits regularly exceeding ₦100 billion.
  • The fourth quarter of 2024 marked a significant peak, illustrating a 200% increase from Q4 2023.
  • BUA Foods' gross profit dramatically climbed from approximately ₦25 billion in 2021 to nearly ₦190 billion in Q4 2024.
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Share of people living in Africa by region as of January 2025
  • Eastern Africa is the most populous region, making up 33.09% of Africa’s total population, with over 507 million people.
  • Together, Eastern and Western Africa house over 63% of Africa’s total population, indicating where much of the continent’s human capital and economic activity will be concentrated.
  • Northern Africa has 274.1 million people (17.89%), while Central Africa has 216.3 million (14.11%), placing them in the mid-range of Africa’s population distribution.
  • Southern Africa is by far the least populous region, contributing just 4.8% (73.6 million people) to Africa’s 1.5 billion total.
  • The population contrast across regions highlights key differences in urbanisation, economic opportunities, and development needs.
  • Understanding Africa’s population distribution is crucial for businesses, policymakers, and investors, as future economic growth, consumer markets, and labour forces will be heavily influenced by these demographic trends.
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The number of people living in each region globally as of January 2025
  • Asia remains the world's population giant, housing nearly 59% of the global population.
  • Africa’s population boom is accelerating, contributing 18.7% of the world’s people.
  • Europe is shrinking in global demographic weight, making up only 9.09% of the world’s people.
  • Oceania remains sparsely populated, with just 0.57% of the global population.
  • Demographic trends will shape economic power, as nations with younger populations could become economic engines if properly harnessed.
  • Urbanisation and resource allocation will become critical, especially in Asia and Africa, where rising populations will put pressure on housing, food, and infrastructure.
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Share of individuals globally in each age group (January 2025)
  • Nearly half of the global population is aged between 20 and 54, making this group the primary driver of economic activities worldwide.
  • Individuals under 19 years old make up 32.9% of the total global population, highlighting the need for sustained investments in education and child welfare.
  • Over 19% of the population is aged 55 and above, emphasising the need for healthcare, retirement planning, and age-friendly policies.
  • With 2.10 billion people, the 35-54 group represents the backbone of global leadership, corporate decision-making, and financial stability.
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  • With 167,639 applications, the North West zone accounts for the highest number of student loan submissions, representing a significant concentration of demand in that region.
  • The North East follows with 134,359 applications, bringing the northern region's combined total to over 300,000, more than half of all zonal submissions.
  • The South West stands as the highest-contributing southern zone with 104,079 applications, showing a strong but comparatively lower demand than the North.
  • The South East recorded just 29,097 applications, the lowest across all six geopolitical zones.
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Share of global active LinkedIn users by continent (Jan. 2025)
  • America leads globally on LinkedIn, with 465.6M users making up 38.8% of the user base.
  • Asia follows, contributing 397M users, or 33.1% of the global total.
  • Together, Asia and America make up 71.9% of all LinkedIn users, totalling over 862M.
  • Europe holds a solid 19.5% share, with 233.8M users.
  • Africa’s 83M users represent a smaller but growing 6.9% share of global users.
  • Oceania has the smallest share, at 1.8%, with only 21.5M users.
  • The distribution reveals that LinkedIn’s core strength lies in regions where digital employment and professional networks are deeply integrated into economic and career activity.
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Share of global active Instagram users by continent (Jan. 2025)
  • Asia alone holds over half of Instagram’s global users (51%), more than all other continents combined.
  • America is the second-largest region with a 28.8% share (501.4M users).
  • Europe accounts for 14.1% of Instagram’s audience, showing a modest footprint.
  • Africa, with 91.3M users (5.2%), still has plenty of headroom for expansion.
  • Oceania holds just 1% of the global user base, with 17.5M active users.
  • The user gap between Asia and other continents points to a major opportunity for brands looking to scale in Asian markets.
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  • Kenya recorded the highest ivory seizure among the top 10 countries, with 130,432 kg confiscated over the 34-year period.
  • China and Hong Kong follow closely, with 106,069 kg and 75,707 kg seized, respectively, showing their long standing roles as critical players in the global ivory network.
  • Vietnam and Singapore, both located in Southeast Asia, had substantial seizure records; 71,256 kg and 29,882 kg, indicating persistent trafficking through the region.
  • Nigeria leads West Africa in ivory confiscations within the top 10, with 23,031 kg, signalling its importance as a key node in the transit chain.
  • All countries listed in the top 10 are either source, transit, or destination points in the global ivory supply chain, reflecting how widespread and interconnected the illegal trade remains.
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  • Coal demand peaked in 2007 at 1,705.1 Mtce, after a steady rise from 1,123.2 Mtce in 1974, marking a 52% increase over three decades.
  • A dramatic drop followed post 2007, with demand falling by 44.8% to 941.3 Mtce by 2020, a loss of over 763 Mtce in just 13 years.
  • Between 2020 and 2024, the decline continued, albeit more gradually, reaching 832.7 Mtce, indicating a consistent downward trend.
  • Coal consumption in 2024 is the lowest in five decades, even lower than 1974 levels, reflecting a major shift in global energy use.
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Key Takeaways:
  • In June 2022, 9mobile recorded a peak of 324 port-ins.
  • The lowest port-in figure during the period was recorded in February 2025, with only one subscriber.
  • In June 2021, 9mobile received 191 new ported-in users, which decreased to 3 by April 2025.
  • Monthly port-in numbers have been progressively dropping, from a three-digit to a single-digit level by 2025.
  • A slight recovery was observed in May 2024 (226), but it was not sustained.
  • By early 2025, port-ins dropped to as low as 1-3 per month.
  • This trend is consistent with a sharp decline in its subscriber base.
  • Compared to other service providers, 9mobile has struggled to attract and maintain switching clients.
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