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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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    Crude oil exports, which made up 81% of Nigeria's export value in 2023 have increased in three consecutive years since 2021. After a 36% decline in 2020, exports increased by 53% in 2021, 46% in 2022, and 37% in 2023 to reach ₦29 trillion.

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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 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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  • 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
 
  • Kenya recorded 2,008 protests in 2024, the highest in its modern history.
  • The number of protest events increased seven-fold between 2022 and 2024.
  • Social media has become a major mobilisation tool for civic expression.
  • Rising cost of living, taxation, and unemployment remain the top drivers of unrest.
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  • Africa recorded 12,581 protests and violent demonstrations in 2024.
  • Morocco led the continent with 3,654 protests, far ahead of others.
  • Kenya ranked second with 2,008 protests.
  • South Africa (1,715) and Nigeria (971) followed, driven by economic and political frustrations.
  • North African countries, such as Morocco, Tunisia, and Libya, accounted for a significant share of protests.
  • The bottom 10 countries, including Lesotho, Gambia, and Seychelles, recorded fewer than 10 protests each.
  • Djibouti and Eritrea reported zero protests.
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  • India recorded the highest number of protests and demonstration events globally in 2024 (22.1K).
  • The United States followed with 10.5K protest events.
  • Yemen (8.2K) ranked third, reflecting the instability and ongoing conflict-driven unrest.
  • Pakistan (7.3K) and France (6.9K) rounded out the top five, underscoring the diverse sources of civic agitation.
  • Morocco (3.7K) was Africa’s leading country for protest activity, placing 12th globally.
  • The global total of protest and violent demonstration events reached 153,573 in 2024.
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  • The Protestants dominate church networks in Nigeria, counting 68.1 million adherents, making up 63.9% of all Christians.
  • Following closely are the independent churches, with 30 million members, representing 28.2% of Nigerian Christians.
  • The Catholic Church stands firm with 27.9 million Christians, or about 26.2% of the Christian population.
  • At the smaller end of the spectrum are the Orthodox Christians, just 3,100 strong, and 152,000 unaffiliated believers who walk their spiritual path independently.
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  • West Africa dominates Africa’s top 15, holding six positions on the remittance importance index.
  • Zimbabwe (78) ranks as Africa’s top country in terms of remittances' importance.
  • Senegal (77) and Nigeria (72) highlight the central role of diaspora inflows in West Africa’s economies.
  • Morocco (74) leads North Africa in remittance importance.
  • Smaller nations like Lesotho (68) and Liberia (68) depend heavily on remittances relative to their GDP.
  • The lowest-ranked countries, including Angola (9) and Djibouti (11), rely minimally on remittance inflows.
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  • Stablecoins lead the market, accounting for 38.3% of all crypto sent, highlighting Nigerians’ preference for stability and dollar-backed assets.
  • Bitcoin ranks second at 27.3%, showing it remains a major channel for store-of-value transfers and remittances.
  • Altcoins like SOL, ADA, SHIB, and DOGE (15.4%) attract younger and experimental users but remain secondary to stable assets.
  • Ethereum (10.2%) and BNB (8.9%) maintain moderate transaction volumes, suggesting users favor low-fee and widely accepted tokens for transfers.
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  • Students are the largest crypto-holding group (43.6%), underscoring the youthful nature of Nigeria’s crypto community and their early adoption of digital finance.
  • Entrepreneurs follow closely (25.7%), showing strong participation from self-employed Nigerians, traders, business owners, and hustlers who use crypto for investment and business flexibility.
  • Traditional employees make up 17.4%, indicating growing acceptance of crypto beyond informal or youth circles, even among salary earners.
  • Freelancers and gig workers (5.6%) also feature, reflecting crypto’s role in global online work and cross-border earnings. Unemployed and retired individuals remain a small minority, under 3.5% combined.
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  • About 60% of users make less than $50 per month, showing crypto activity is mostly at a small, retail scale.
  • The $10–$50 band (36%) is the single largest group, reflecting frequent, low-value trading or incremental investment returns.
  • Only about 30% of users earn between $50 and $500, suggesting that consistent moderate returns are less common.
  • Less than 3% of users earn above $1,000 per month, confirming that the Nigerian crypto market remains largely retail-driven rather than dominated by professional or institutional traders.
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  • 56.1% of users mostly send crypto, compared to 43.9% who mostly receive it, showing an active transaction culture.
  • Investing in other platforms or projects leads as the top reason for sending crypto (29.2%), indicating strong speculative and wealth-building motives.
  • Every 1 in 4 users (25.1%) use crypto for daily transactions like bills and subscriptions, showing rising integration into everyday finance.
  • Cross-border payments (7.7%) and donations (4.6%) remain small but notable niches, signaling growing utility beyond trading.
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  • 2024 was the strongest year on record, with 495.6k tons of cargo transported, more than 60% higher than 2023 and ₦1.95 billion in freight revenue.
  • Cargo volume and revenue both crashed in 2020 due to COVID-19 disruptions, falling to 87.4k tons and ₦281.4 million respectively.
  • Recovery began in 2021–2022, as improved freight operations and industrial demand pushed steady gains in both tonnage and income.
  • Q1 2025 shows 181.5k tons and ₦650m (approx.) in revenue, signaling strong momentum that could surpass 2024 totals if maintained.
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  • 2020 marked the lowest point for both passenger volume (1.02 million) and revenue (₦1.7 billion), reflecting the full impact of COVID-19 lockdowns.
  • Strong recovery followed in 2021, with passenger numbers jumping to 2.71 million and revenue surging by 226% to ₦5.6 billion.
  • 2024 was the best-performing year, recording ₦6.7 billion in revenue and 3.14 million passengers, a clear sign of renewed public confidence in rail transport.
  • Q1 2025 (₦1.9 billion revenue, 929,000 passengers) suggests steady ridership levels but moderate momentum compared to the 2024 surge.
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  • Nigeria’s domestic debt jumped from ₦3.8 trillion in 2010 to ₦80.55 trillion by mid-2025.
  • Foreign debts increased from $4.27 billion in 2010 to $46.98 billion in 2025, reflecting growing reliance on external financing.
  • Debt accumulation surged notably after 2020, coinciding with pandemic spending, naira depreciation, and higher fiscal deficits.
  • The widening gap between revenue and debt service raises questions about Nigeria’s long-term debt sustainability.
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  • The South East is the only region where the revenue of MDAs (60.9%) exceeded tax revenue (39.1%).
  • Other regions relied more heavily on tax revenue, with the South South leading at 85.25%.
  • The North East and North Central followed closely, with tax contributions of 79.9% and 79.15%, respectively.
  • The South West generated 75.04% of its IGR from taxes, indicating a strong formal revenue structure.
  • The North West maintained a more balanced mix, with 58.54% tax and 41.46% MDAs’ revenue.
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  • Profit Before Tax (PBT) surged 471% from ₦2.15 billion (2020) to ₦12.28 billion (2023); Profit After Tax (PAT) jumped 585% to ₦9.87 billion.
  • Both metrics declined ~11% from the 2023 peak but remained well above historical averages.
  • Effective tax rate fell from 38% (2012) to 20% (2024), allowing the company to retain 80% of pre-tax profits.
  • Absolute tax payments increased from an average of ₦1.01 billion (2011-2020) to ₦2.30 billion (2021-2024), reflecting higher profitability.
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  • The Federal Ministry of Information and National Orientation received a total of ₦108.3 billion in the 2025 budget.
  • The National Orientation Agency (₦24.4 billion), FRCN (₦21.5 billion), and NTA (₦21.3 billion) account for over 60% of the total allocation.
  • The National Institute for Cultural Orientation was allocated ₦11.8 billion.
  • Regulatory bodies like ARCON (₦3.8 billion), the Nigerian Press Council (₦3.2 billion), and NBC (₦2.4 billion) received the smallest allocations, suggesting limited funding for oversight functions.
  • A separate ₦8.9 billion was allocated to the Ministry’s headquarters for administrative operations.
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  • The Gambia leads Africa in remittance-GDP ratio, with remittance accounting for 21.1% of its GDP in 2024.
  • Lesotho (20.9%) and Comoros (18.3%) closely follow as highly remittance-dependent economies.
  • Somalia (17.5%) and Liberia (14.3%) also rely heavily on diaspora inflows to support their economies.
  • Nigeria (11.3%) remains a major player, highlighting its strong global diaspora network.
  • Cabo Verde (12.1%) and Senegal (11.6%) demonstrate that remittances are key drivers of income in smaller economies.
  • In larger economies like Egypt (7.6%) and Morocco (8.1%), remittances also make up a significant share of GDP.
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  • Europe ($12.58 trillion), Asia ($11.88 trillion), and the Americas ($11.49 trillion) are nearly tied after 35 years, each capturing roughly a third of global FDI
  • Asia grew from just $25 billion annually in 1990 to consistently attracting $600-700 billion per year, showing the most stable growth pattern
  • Major crises (2001, 2008-09, 2020, and 2022) caused dramatic swings, with Europe even recording negative flows in 2022
  • Africa and Oceania combined received just 6% of total FDI, remaining far behind despite Africa's recent acceleration to $97 billion in 2024
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  • Africa attracted $97 billion in total FDI inflows in 2024.
  • North Africa dominated with $51 billion (52%), remaining the continent’s top foreign investment hub.
  • West Africa ranked second with $15 billion (15.3%).
  • East Africa secured $13 billion (13.3%).
  • Central Africa remained the least favoured, with only $8 billion (8.2%) in FDI inflows.
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