Bite-sized Insights about
 
Providing you with data-based insights about things happening around you.
Popular Insights

  • 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.

    See more

    Between 2010 and 2022, Nigeria imported 245 billion litres of Premium Motor Spirit (PMS), popularly called petrol, with the highest imports recorded in 2022. Here is the volume of PMS imported into the country in 13 years from 2010.

    See more
  • 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

    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.

    See more

  • 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.

    See more
    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.

    See more
  • 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.
    See more
  • 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.
    See more
  • 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
 
  • Ayra Starr's Spotify listeners more than doubled in 2024, ending 2024 as the Nigerian artiste with the most monthly listeners on Spotify.
  • Rema recorded the highest peak in Spotify listeners among Nigerian artistes.
  • Rema lost 14.4 million listeners in the year.
  • Other artistes like Burna Boy, Tems, and Wizkid, also saw listener bases increase in 2024.
See more
Real GDP growth forecast by region (2025-2029)
 
  • Africa will consistently achieve the highest GDP growth rate, projected at 4.4% from 2026 to 2029.
  • The Asia & Pacific region remains robust, starting at 4.3% in 2025 but is expected to gradually narrow down to 4.0% by 2029.
  • The global average GDP growth will hover around 3.2% from 2025.
  • Europe exhibits the slowest growth, starting at 1.6% in 2025 and declining to 1.5% by 2029.
See more
Crypto ownership by continent
 
  • Asia has the highest number of crypto owners globally, with 326.8 million individuals
  • Despite having the smallest crypto user base (3 million), Oceania experienced explosive 1-year growth of 114.3% in crypto ownership between 2023 and 2024.
  • Africa’s crypto ownership grew by just 8.5% over the past year, the lowest among all regions, with 43.5 million individuals owning cryptocurrency.
  • While some regions like Oceania and South America are experiencing rapid growth, Africa's slower adoption indicates barriers such as infrastructure and regulatory challenges.
See more
 
  • Between 2008 and 2015, Nigeria experienced consistent trade surpluses.
  • In 2023, Nigeria recorded the least trade surplus in 16 years since 2008.
  • Nigeria recorded trade deficits in three years (2016, 2020, and 2021) since 2008.
  • 2021's ₦1.9 trillion deficit marked a downturn in trade performance
See more
 
  • Lagos State Assembly added an extra ₦360b to the 2025 budget, more than four of the top states combined.
  • Yobe State Assembly is the only state legislative arm that passed a lower amount than the proposed figure.
  • Three of the top five states with the largest difference between presented and approved budgets are in the southern part of the country.
See more
 
  • With a score of 0.935, Iceland continues to set the benchmark for gender equality.
  • Namibia (0.805) and Nicaragua (0.811) are redefining expectations, proving that gender equality is not just a goal for wealthier nations but a global priority.
  • Germany (0.810), Ireland (0.802), and Lithuania (0.793) highlight Europe’s dominant role in advancing gender parity, setting examples for other regions.
  • Namibia (0.805) and South Africa (0.785) represent two of Africa’s most gender-equal societies.
  • Nigeria has a score of 0.65, making it the 125th country worldwide
See more
Number of dentists in Nigeria's geopolitical zones as of 2022 (share of total)
 
  • There are 3,112 dentists in Nigeria as of 2022, highlighting the limited availability of dental professionals in a population of over 200 million.
  • The Southwest geopolitical zone has the highest number of dentists, totaling 1,176 (37.8%), indicating a concentration of dental services in this region.
  • Collectively, the North (Northwest, North Central, and Northeast) has only 687 dentists, which is approximately 22% of the total, showcasing significant regional disparities in healthcare access.
  • The Southeast zone has the fewest dentists, with only 141 (4.5%), underlining a shortage of dental professionals in this region.
  • The concentration of dentists in zones like the Southwest likely reflects urbanization trends, leaving rural areas in other regions underserved.
See more
 
  • Two of the top five markets by ARPU are in its Southern African region.
  • Two of the top three markets by ARPU are units that are operating as joint ventures
  • Nine markets are less than the group's ARPU
  • Benin recorded the highest ARPU across its West African markets
See more
1 … 38 39 40 41 42 … 83
Total funding raised in East Africa, excluding exits (2019 - 2024)
  • Kenya is the absolute leader in startup funding, with $3.3 billion raised in the past six years.
  • The rest of East Africa is way behind, with Tanzania ($286M), Uganda ($183M), and Rwanda ($91M) being the next in line. But collectively, they don’t even match 20% of the funding Kenya received.
  • The total funding raised across East Africa from 2019 to 2024 is $3.94 billion, which means Kenyan startups alone secured more than 8 out of every 10 dollars invested in the region.
  • Investor confidence is highly concentrated in Kenya, largely due to its well-developed venture capital ecosystem, startup accelerators, and government support for innovation.
Read more
Kenya's share of startup funds raised in East Africa, excluding exits (2019 - 2024)
  • Kenya dominates East Africa’s startup funding, securing over 83% of all funds raised between 2019 and 2024 — a clear indication of its position as the region’s startup capital.
  • Kenya’s startup funding share has remained consistently above 80% since 2020.
  • 2023 and 2024 saw Kenya secure nearly 89% of all funds, marking its strongest position.
  • Other East African countries combined have not received more than 30% of the funding in any year since 2019.
  • The lowest share of funding Kenya secured was in 2019 (69.81%).
Read more
Percentage of internet users globally aged 16+ who own each kind of device (January 2025)
  • Smartphones are nearly universal, with only 2.2% of internet users worldwide not owning one.
  • Laptop and desktop ownership (58.3%) lags behind smartphones, reinforcing the shift toward mobile-first usage for internet access.
  • Smart TVs (48.2%) are closing in on traditional computing devices, showing how entertainment consumption is increasingly digital and on-demand.
  • Wearables are rising, with smartwatches (25.8%) and smart wristbands (12.9%) becoming more mainstream, signalling a growing appetite for health and fitness tracking.
  • Gaming consoles (18.9%) and smart home devices (17.4%) have niched but steady adoption, appealing to entertainment and home automation enthusiasts.
  • Virtual Reality (VR) remains a specialty product, with just 4.7% ownership.
  • For businesses, the mobile-first reality is non-negotiable —any service, product, or content must prioritise accessibility via smartphones to reach the widest audience.
Read more
Share of Nigeria's federal government capital expenditure (1999 - 2023)
  • Economic services still receive the largest share of capital expenditure (47% on average), which has declined over time, raising concerns about long-term infrastructure development.
  • Spending on administration has risen, now accounting for a quarter of total capital expenditure (25%), highlighting a stronger focus on governance and institutional processes.
  • Social community services (such as education and healthcare) have seen growth in allocation, reaching around 12-19% in recent years, signalling a shift toward social development.
  • Transfers, which are funds allocated to specific entities or programmes, have fluctuated but occasionally spiked.
Read more
Key takeaways:
  • Africa's ten most profitable banking institutions are concentrated in South Africa, Egypt, and Nigeria.
  • South African and Egyptian banks claim the first five positions among Africa's most profitable banks.
  • Nigeria's banking sector shows resilience, with three of its "FUGAZ" banks securing positions in the continental top ten.
  • The average profit after tax among Africa's top ten profitable banks reached $867 million.
  • The four most profitable banks in Africa each exceeded $1 billion in profit after tax.
Read more
Key Takeaways:
  • MTN Nigeria's income tax payments consistently rose from ₦75.66 billion in 2018 to ₦170.1 billion in 2022.
  • In 2023, there was a significant drop in the payments, which fell to ₦40.87 billion, the lowest in the period under review.
  • In 2024, MTN Nigeria saw its income tax jump by 267% from 2023's figure.
  • The company achieved its peak income tax payment of ₦170.1 billion in 2022.
  • The income tax for MTN in 2023 dropped by ~76% due to substantial forex loss from naira devaluation.
Read more
1 … 38 39 40 41 42 … 165
Can’t find what you’re looking for? Please fill the form below
Contact Form Demo
SIGN UP TO OUR NEWSLETTER
Get periodic updates about the African startup space, access to our reports, among others.
Subscribe Here
Subscription Form
A product of Techpoint Africa. All rights reserved