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  • In Q1 2024, there was a 146% increase in Nigeria's foreign trade value from ₦12.9t in Q1 2023, with exports reaching ₦19.2t, and surpassing the whole of 2020's exports (₦12.5t).

    The total trade value in the quarter reached nearly half of the total trade in 2023.

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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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  • 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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    Africa's sanitation crisis is alarming, with 17 of the top 20 countries having the highest open defecation rates.

    Eritrea (67%), Niger (65%), and Chad (63%) lead, putting millions at risk of disease.

    Even Nigeria, the most populous African country, has 18% of its population practising it.

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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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    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 has added ₦23.9 trillion to the debt it owes creditors within the country as of Q2 2023. As of June 2023, the country's domestic debt had risen from ₦30.2 trillion in March to ₦54.1 trillion, a 79% 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
     
  • 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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  • Nigeria imported $281 million worth of generator sets in 2024.
  • China remained the dominant supplier, accounting for $195 million, or nearly 70% of total imports.
  • Other top suppliers included India ($20.6M), Germany ($15.4M), and South Korea ($16.5M).
  • Compared to 2023, imports from China dipped slightly (from $202M to $195M), and other countries like Germany and India also saw declines.
  • The data captures a wide range of generator types — petrol, diesel, wind-powered, and rotary converters — under HS Code 8502.
  • Mirror data reflects only officially reported trade and excludes informal or undocumented imports.
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  • Lebanon and Nigeria top the global list, recording millionaire population declines of -60% and -53% respectively over the past decade.
  • Three African countries, Nigeria (-53%), Angola (-36%), and South Africa (-12%), appear in the top 10, signalling a regional pattern of wealth erosion.
  • Pakistan (-40%), Egypt (-26%), and Argentina (-22%) rank among the top 10, showing that sharp millionaire losses extend beyond Africa into Asia and Latin America.
  • The average millionaire decline across the top 10 countries is over 33%, highlighting a widespread erosion of wealth in politically and economically vulnerable regions.
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  • Cars were involved in the highest number of road accidents, recording 665 cases over the four-year period.
  • Luxury buses and bicycles recorded the highest quarter-on-quarter (QoQ) growth in accident involvement.
  • Tankers, cars, and motorcycles saw the sharpest QoQ declines, with accident rates falling by 47.2%, 30.6%, and 24.7% respectively.
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  • June 2025 PMI: 51.6, down from 52.7 in May — marking a three-month slowdown in growth.
  • Still 2.99% above June 2024 levels, when PMI was 50.1 — confirming year-on-year improvement.
  • The June dip reflects subdued demand and persistent inflation, echoing broader market sentiment.
  • A PMI above 50 signals expansion; Nigeria’s figure signals ongoing growth, though losing speed.
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  • Morocco recorded a total of $54.58 billion in FDI over the past 34 years.
  • Morocco's FDI inflows peaked twice, in 2014 and 2018, both $3.5 billion.
  • The lowest FDI inflow Morocco recorded was in 1990, amounting to $0.17 billion.
  • From 2006 onward, Morocco's FDI inflows remained mostly above $1 billion, with fluctuations.
  • The most recent year, 2024, showed a modest recovery after a significant dip in 2023.
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  • Nigerians submitted 1.1 million Schengen visa applications between 2009 and 2024.
  • The highest rejection rates occurred in 2017 (53%) and 2019 (51%).
  • A total of 491,844 applications were rejected, a cumulative denial rate of 42.1%.
  • Despite post-pandemic recovery, 2024 recorded the highest applications (111k), with a 45% rejection rate.
  • The year 2010 stands out as the period with the least number of Schengen visa applications submitted by the Nigerian consulate.
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  • Equity Group was the most profitable bank on the list with $268M in H1 2025.
  • KCB followed closely with $250M in profits, supported by 8% YoY growth.
  • I&M Group achieved the fastest growth rate of 36%, despite a smaller base of $63 million.
  • Standard Chartered’s profits fell by 21%, highlighting the struggles of foreign banks.
  • Stanbic Holdings also declined by 9%, contrasting with local banks’ upward trend.
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  • Qatar has the lowest share of seniors, with only 1.7% of its population aged 65+.
  • The UAE follows closely at 1.8%.
  • Zambia has 2.0% of its population aged 65 and above, totalling about 438,000 people.
  • Uganda, Chad, and the Central African Republic each have a senior population of around 2.1–2.2%, with totals exceeding 1 million seniors.
  • Qatar also has the smallest absolute number of seniors on the list—just 53,000 people.
  • Nigeria has 7.3 million seniors that represent only 3.1% of its population, ranking 25th worldwide.
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  • Africa’s goat population grew from 94 million in 1961 to 522 million in 2023 — more than a fivefold increase.
  • The continent’s share of the world’s goats rose from 27% in 1961 to 46% in 2023.
  • Nigeria leads with nearly 89 million goats in 2023, holding the top spot since 1998.
  • Ethiopia, Chad, Sudan, Niger, and Mali consistently rank among the largest goat producers.
  • Around 70% of Africa’s goats are concentrated in the top ten countries each year.
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  • Asia leads global copper exports with 31.6% of total export value.
  • Europe follows closely at 31.4%, making the two regions nearly equal in contribution.
  • Combined, Asia and Europe control 63% of the global copper export market.
  • Africa ranks third globally, contributing 15.3% to copper exports.
  • Oceania plays the smallest role, with just 2% of the total export value.
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  • The DR Congo is Africa’s copper giant, exporting $19.8 billion in 2024 (56.7% of the total).
  • Zambia follows with $7.6 billion, representing 21.7% of exports.
  • Together, the DR Congo and Zambia control almost 80% of Africa’s copper trade.
  • Tanzania is the third-largest exporter with $2.2 billion (6.3%).
  • Despite 52 African countries exporting copper, 42 of them collectively make up only 2% of the total value.
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  • Africa has recorded more than half of the world’s wildfire-affected areas every year since 2012.
  • In some years, the continent’s share reached as high as 65% of global burned land.
  • North and South America are the second most affected regions, with shares ranging from 15% to 25%.
  • Asia’s share has remained steady at about 10% throughout 2012–2024.
  • Europe and Oceania each account for only about 5% annually, making them the least affected.
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