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  • Nigeria's government collected ₦2 trillion in corporate income tax in H1 2023, with a spike from ₦469 billion in Q1 to ₦1.53 trillion in Q2. The corporate tax payments for H1 2023 are higher than any full-year collections from 2015 to 2021.
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    Since 2004, Nigerian employees have saved a cumulative ₦8.4 trillion for their retirement. Employees in the public sector have saved ₦4.4 trillion, while those in the private sector have put ₦4 trillion aside.

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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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    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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  • 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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    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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  • Nigeria repaid an average of $368m in external debt every year between 2008 and 2017. In 2018, the payments increased by 217% to $1.47b from $464m in 2017, then dropped by 9.4% in 2019, and has since been on the rise. Here are Nigeria's external debt repayments since 2008.
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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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  • 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

Nigeria held the top spot in global cashew production from 2001 to 2010. This highlights a period of strong agricultural output, though the country has since been overtaken by India and Côte d'Ivoire. In recent years, Côte d'Ivoire has emerged as the world’s leading cashew producer, holding the top spot for three consecutive years as of 2022. This shift highlights the country's growing role in global cashew production. India and Mozambique once dominated global production, with India leading for 35 of the past 62 years.

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Once the world’s leading cashew producer, Nigeria saw production fall below 100k tonnes in 2022 after hitting a high of 800,000 tonnes in 2009. Despite this decline, experts believe the sector could generate $2.4 billion in foreign exchange annually if production is increased.

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Local company income tax in Nigeria surged threefold quarter-on-quarter in Q2 2024, reaching ₦1.35t. Agriculture, Forestry, and Fishing led with a growth of 474.5%, while Household Employment and Own-Use Production experienced the steepest decline at -30.22%

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Total number of products registered with NAFDAC from 2020 to 2022

Food and packaged water dominate NAFDAC registration, as close to 50% of all products registered between 2020 and 2022 were either food or packaged water. This suggests a significant focus on ensuring the safety and quality of these essential commodities. Human drugs also make up a substantial portion of registered products, reflecting the importance of regulating medications to protect public health. Cosmetics and herbal drugs follow closely with 13.2% and 6.5%, respectively.

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Top & bottom ten states by number of dentists (2022)

Lagos State leads the dental healthcare workforce in Nigeria with an impressive 713 dentists, a figure over three times higher than any other state. This dominance shows Lagos' position as a hub for healthcare professionals. Trailing far behind are the FCT (Abuja) with 208 dentists and Oyo with 185.

The gap becomes even more glaring when examining the bottom states like Taraba, with only eight dentists, and others such as Jigawa and Abia, with just nine each. These numbers paint a concerning picture for residents of these regions, who may face long travel distances or extended waiting times to access basic dental care. Interestingly, Borno State, which faces security challenges, has 53 dentists, surpassing several other states.

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Nigeria's import value increased by 8.7% quarter-on-quarter and 63% year-on-year, reaching ₦14.67 trillion in Q3 2024. China led as the top trading partner with imports valued at ₦3.57 trillion (24%), while Malta rounded out the top five with ₦767 billion (5%).

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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 national grid has collapsed 12 times in 2024

Nigeria's national grid has experienced 12 collapses so far in 2024, a troubling trend that reveals the fragility of the country's energy infrastructure. The timeline highlights intervals ranging from as short as one day to as long as 82 days between incidents. Notably, two consecutive collapses occurred on October 14 and October 15, while a total of 9 collapses occurred in the second half of the year.

Yesterday's collapse came 35 days after November 7, when the grid went down for the 11th time.

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In 2024, the top ten universities in Nigeria graduated 3,047 first-class students. Seventeen per cent of private university students in Nigeria earned first-class degrees, compared to 3% in federal/state universities.

The University of Benin convocated the most first-class students (385), while the Federal University of Agriculture, Abeokuta (FUNAAB) had the least, with 122.

Covenant University had the highest proportion, with one in five students graduating with a first class.

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Ogun State is the top location for private universities, with 16 universities, while the top eight states collectively account for 50% of Nigeria's 149 private universities. Bauchi and Yobe are the only states with no private universities.

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Key takeaways:
  • In February 2025, Samsung and Apple dominate the mobile market in Africa.
  • Samsung leads with a 29.80% share of the continent's mobile market based on usage.
  • Apple ranks second with a 13.27% share, demonstrating resilience in markets sensitive to pricing.
  • Collectively, Chinese manufacturers hold more than 45% of the mobile market in Africa.
  • Brands under Transsion Holdings (Tecno, Infinix, Itel) together represent nearly 25% of the total market share based on usage.
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Key Takeaways:
  • In 2023, Kiribati spent the largest % of its GDP on education, amounting to 16.39%.
  • Kiribati, Tuvalu, and Vanuatu each allocated over 10% of their GDP to education.
  • Bolivia and the Solomon Islands each directed around 8.3% of their GDP spending towards education.
  • The top ten countries dedicated approximately 6.6% to 16.4% of their GDP to education.
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  • Lagos carried the South-West VAT burden, remitting ₦305.52B (89.6% of the region's total) but receiving only ₦62.59B (20.5% return), making it the highest net contributor in Nigeria.
  • Osun had the most disproportionate gain, remitting a mere ₦590M but receiving ₦7.73B, an astronomical 1,211% return—the highest redistribution gain in the South-West.
  • The entire South-West remitted ₦341.18B but received only ₦106.85B, meaning it got back just ₦0.31 for every ₦1 contributed, highlighting a severe VAT allocation imbalance.
  • Ondo and Ogun remitted only ₦3.3B but received ₦16B combined, far exceeding their generated VAT, while Lagos alone subsidised most of the allocations across the country.
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  • The South-East remitted ₦10.94 billion in VAT but received ₦39.15 billion, a 257.7% increase, showing a high reliance on VAT sharing.
  • Abia, the lowest contributor (₦734M), received ₦7.29B, nearly 10× its remittance, making it the biggest relative beneficiary in the region.
  • Anambra, the highest contributor (₦3.56B), received only ₦8.72B, showing a sharing trend where high-contributing states do not necessarily receive the most.
  • Every South-East state received at least 2× what they remitted, with an average allocation of ₦7.83B despite an average contribution of just ₦2.19B.
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  • The North-West region received ₦66.55 billion, more than double its remittance (₦28.31B), showing a heavy reliance on federal VAT sharing.
  • Zamfara, the lowest contributor (₦1.45B), received the highest percentage gain (+433%), getting ₦7.72B, while Kano, the highest contributor (₦9.59B), had the smallest relative gain (+41.5%).
  • Kaduna and Katsina, despite remitting ₦3.50B and ₦3.86B, received ₦10.18B and ₦10.01B, respectively, nearly tripling their remittance.
  • Kano remitted 34% of the zone’s VAT but received only 20.4% of the total allocation, reinforcing that VAT is distributed based on equality and not economic strength.
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  • The North-East remitted only ₦14.98 billion but received ₦46.68 billion, showing a 211.6% gain due to sharing.
  • Taraba, the lowest contributor (₦0.94 billion), saw the highest percentage gain (635%) with an allocation of ₦6.91 billion, reinforcing that smaller economies benefit the most from VAT sharing.
  • Bauchi, despite remitting just ₦2.44 billion, received the highest allocation (₦8.93 billion), a 266% increase, illustrating how VAT is shared based on equality and population, not economic activity.
  • Every state in the region received at least 2× what they remitted, highlighting the North East’s reliance on VAT sharing and fuelling the fiscal federalism debate on whether VAT should be retained at the state level.
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