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  • Voice is still king for Airtel Africa, accounting for the largest share of its revenue between 2019 and 2023. However, the revenue from data and Airtel Money, its mobile money services have more than doubled within this period. Revenue from voice and others didn't record a sharp increase unlike data and Airtel Money.

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    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.

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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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  • 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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  • 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
 
  • Construction and mining dominate Chinese FDI in Africa, accounting for nearly 60% of the total investments
  • Financial intermediation, manufacturing, and commercial services also received $10.96 billion combined, smaller than construction alone
  • Leasing and commercial services attracted $2.16 billion, the least among all sectors
  • China’s FDI strategy in Africa continues to emphasise resource extraction and infrastructure, reinforcing economic interdependence
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  • Energy attracted the largest share of Chinese loans to Africa, totalling $62.7 billion across 207 loans
  • Transportation received $52.7 billion—the second-highest amount—through 336 loans, making it the most frequently financed sector
  • Agriculture ($2.4 billion) and education ($2 billion) received relatively low funding, reflecting China’s focus on infrastructure
  • Smaller sectors like non-energy mining and services/social protection had minimal Chinese loan activity
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- Akwa Ibom, Delta, Rivers, and Bayelsa collectively account for nearly 85% of Nigeria’s crude oil production.
- Their impressive output reflects decades of focused investment and advanced production infrastructure in the Niger Delta.
- The disparity between these high-producing states and lower-performing regions like Abia and Imo highlights significant regional imbalances.
- The untapped potential in states with lower outputs presents promising opportunities for strategic development and future growth
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Distribution of credit by Kenya's banking system to finance foreign trade (H1 2024)
 
  • Over 60% of Kenya’s bank loans for foreign trade were used to fund imports, limiting resources for exports.
  • In all six months, exports received less than 40% of the credit allocation, highlighting a significant gap.
  • Import credit peaked at 66.23% in June
  • The import-export credit ratio remained relatively stable, suggesting an ongoing structural trend in trade financing.
  • To balance trade, policies could focus on enhancing export production, incentives for exporters, and easing export credit access.
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  • The United States leads with a massive $1.1 trillion in trade deficit, over four times larger than India's $245.5 billion deficit
  • India and the United Kingdom follow, each exceeding $230 billion in trade deficits, reflecting high import reliance
  • The USA’s trade imbalance alone surpasses the combined deficits of the other nine countries on this list
  • Six of the top ten countries with the largest deficits are European economies
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  • FirstBank and Union Bank have operated in Nigeria for over a century, making them the longest-surviving commercial banks
  • Three of Nigeria’s largest banks today, GTBank, Zenith Bank, and Access Bank, were founded in the late 20th century
  • Citibank is the oldest foreign bank in Nigeria
  • Only five banks have existed in Nigeria for over fifty years
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  • Netflix leads the global streaming market with 301.63 million subscribers
  • Amazon Prime follows with 200 million, making these two platforms account for over 500 million subscribers combined
  • Disney+ and Tencent Video signal the rise of regional and diverse content, with Disney+ at 124.6 million and Tencent Video at 116 million
  • Smaller platforms struggle to compete, with services like Apple TV having significantly lower numbers
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  • Egypt and Morocco dominate Africa’s trade deficit, with a combined shortfall of $50.8 billion dollars, which surpasses the total deficit of the other eight countries on the list
  • North African economies — Egypt, Morocco and Tunisia — account for more than half of the total trade deficit across the top 10
  • East African economies also feature prominently, with Ethiopia, Kenya, and Tanzania making up a significant share of the deficit
  • Smaller economies like Rwanda and Uganda post notable deficits, though on a much smaller scale than their North and East African counterparts
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  • Angola's $23.8 billion surplus is nearly double Algeria’s
  • The top three countries are major oil exporters
  • Oil, minerals, and natural resources drive most surpluses
  • No North African country besides Algeria makes the top 10
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  • Nestlé Nigeria’s revenue grew by 75.3% in 2024, its highest growth rate since 2014.
  • Revenue jumped from ₦547.1 billion in 2023 to ₦958.8 billion in 2024, a ₦411.7 billion increase.
  • The 2024 growth rate is over three times the 22.5% growth recorded in 2023.
  • The company has grown revenue for ten straight years without decline.
  • Between 2014 and 2024, revenue increased by an average of 22.4% on a year-on-year basis.
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  • Nestlé Nigeria maintained steady profits for eight years, growing from ₦22.2 billion naira in 2014 to ₦49 billion naira in 2022
  • Nestlé Nigeria swung from a ₦49 billion naira profit in 2022 to a ₦79.5 billion naira loss in 2023, a 262% decline in one year
  • Losses deepened by 107%, from ₦79.5 billion naira in 2023 to ₦164.6 billion naira in 2024
  • A combined ₦244 billion naira loss for 2023 and 2024 nearly wiped out all the profits of ₦304.5 billion naira made between 2014 and 2022
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Share of global active Facebook users by continent (Jan. 2025)
  • Asia holds nearly half (47.7%) of Facebook’s global users, with over 1.1 billion people actively using the platform.
  • America is second with 611.8M users, comprising 26.8% of the total user base.
  • Africa’s 291.1M users (12.7%) place it slightly ahead of Europe in Facebook engagement.
  • Europe contributes 11.8%, with 269M active users.
  • Oceania remains the smallest market, with just 23.6M users (1.0%).
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  • Mercado Libre leads with $8.5B, making it Baillie Gifford’s most valuable tech holding after its Jumia exit.
  • Amazon ($6.2B) and NVIDIA ($6.8B) remain major anchors in the portfolio, highlighting confidence in cloud, AI, and e-commerce.
  • The "Others" category holds the largest share ($75B), showing how Baillie Gifford’s exposure is spread widely beyond the major names.
  • Even post-Jumia, the portfolio is deeply rooted in innovation, with stakes in Spotify, Cloudflare, Moderna, and Shopify; covering audio streaming, cybersecurity, biotech, and e-commerce platforms.
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  • Microsoft’s revenue has grown steadily from $26.8B in Q1 2018 to $70.1B in Q1 2025, marking a 161% increase over the seven-year period.
  • Its net income more than tripled from $7.4B in Q1 2018 to $25.8B in Q1 2025, with consistent year-on-year growth, especially sharp increases between 2020 and 2023.
  • The company crossed the $50B quarterly revenue mark for the first time in Q4 2021, and hasn’t dropped below that threshold since Q1 2022.
  • From Q1 2023 to Q1 2025 alone, Microsoft’s net income surged by over $7.5B, signalling an era of record profitability, with each quarter surpassing $20B in profit since Q2 2023.
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Share of global active Messenger users by continent (Jan. 2025)
  • Asia leads the world in Messenger usage with 471.8M users, representing 49.9% of the global total.
  • Asia has 2.2 times more users than the Americas, which is the next largest region.
  • The Americas account for 210.7M users, or 22.3% of the global audience.
  • Europe contributes 154.3M users, making up 16.3% of all Messenger users worldwide.
  • Africa stands at 104.6M users, showing growth potential and already accounting for 11.1% of global usage.
  • Oceania has the smallest user base at just 4.8M users, contributing 0.5%.
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Number of Nigerians who use each (selected) social media platform (Jan. 2025)
  • Facebook has the highest number of users in Nigeria at 38.7 million, reaching 16.4% of the population.
  • TikTok follows closely with 37.4 million users, accounting for 15.8% of Nigerians.
  • YouTube attracts 27 million users, showing its continued relevance for content consumption.
  • Snapchat boasts 19.6 million users, with 8.3% penetration across the country.
  • LinkedIn is used by 11 million Nigerians, reflecting rising interest in professional networking.
  • Instagram has 9.9 million users, slightly below LinkedIn in total reach.
  • X (formerly Twitter) has 7.57 million users, capturing 3.2% of the population.
  • Messenger is the least used among the listed platforms, with 5.65 million users in Nigeria.
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  • University students filed 497,000 loan applications, accounting for a staggering 90.1% of all institutional submissions.
  • College of education students submitted just 34,000 applications, making up only 6.2% of the total pool.
  • Polytechnics trailed with 21,000 applications, contributing 3.7% to the national tally.
  • Out of every 10 students applying for a loan, 9 are university students, underscoring their dominance in demand.
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