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  • Nigeria's debt burden has been a growing concern, with data revealing that for every $1 billion external loan repaid in the past decade, approximately $3 billion was borrowed. Here, we look at how the country has managed its external debt in the past ten years.
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    Top 23 most powerful countries by strength index in 2024

    South Africa is rising on the global stage, showcasing its growing influence as it secures its spot as the only African country among the world's top 23 superpowers.

    The United States leads with a strength index of 0.89, followed closely by China at 0.80. While traditional powers like Germany and Japan hold their ground, South Africa proudly stands among the top 23 superpowers with a strength index of 0.1. This is the only African country that made the top 23, coming 22nd on the list.

    The ranking is based on analysis from Ray Dalio's Great Powers Index 2024. Dalio assessed each nation's strength based on a wide range of metrics, including education, innovation and technology, cost competitiveness, economic output, and military strength.

    Note: The Eurozone, ranked third on the list, was removed as it cannot be considered a single country.

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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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  • Bitcoin has seen remarkable growth since 2010. Starting from a high of just $0.5 in 2010, it reached an all-time high of $73.7k in March 2024.

    It recorded new peaks in 2011, 2013, 2017, 2020, 2021, and recently in 2024.

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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
  • Wizkid's Morayo leads the pack with 12.12 million first-day streams—30% more than the runner-up, 5ive (9.29M).
  • The top three singles (Morayo, 5ive, Lungu Boy) together account for 27.29M streams, or 45% of the combined 46.75M total.
  • Streams fall nearly 50% between 3rd (5.88M) and 4th place (Timeless, 4.91M), highlighting a sharp mid-chart taper.
  • Even #10 (S2) amassed over 2M first-day spins, showing strong baseline engagement across diverse artists.
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Key Takeaways: 

  • The US' trade deficit with Nigeria narrowed significantly, shifting from a $5.14 billion deficit in 2017 to a $1.69 billion surplus in 2024.
  • US goods exports to Nigeria reached $4.2 billion in 2024, representing a 92% increase from the $2.2 billion recorded in 2017.
  • US goods imports from Nigeria totalled $5.9 billion in 2024, a 20% decrease from the $7.3 billion recorded in 2017.
  • The COVID-19 pandemic severely disrupted bilateral trade in 2020, but both imports and exports began recovering steadily from 2021 onwards.
  • By 2024, trade had rebounded substantially, with US imports from Nigeria reaching $5.87 billion and exports to Nigeria reaching $4.17 billion.
  • Despite experiencing persistent trade deficits from 2017 through most of the period, the US achieved trade surpluses with Nigeria in 2020 and 2021.
  • Total goods trade between the US and Nigeria ranged from $4 billion to approximately $10 billion.
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Key takeaways:

  • Zenith Bank Plc led the profitability ranking with a Profit After Tax (PAT) of ₦1.03 trillion.
  • Guaranty Trust Holding Company followed closely with ₦1.02 trillion in PAT.
  • Each of the top six banks recorded profits exceeding ₦600 billion.
  • The total PAT for the top ten banks rose by 53%, from ₦3.39 trillion in 2023 to ₦5.54 trillion in 2024.
  • FCMB Group Plc was the only bank among the top ten to record a year-on-year decline in PAT.
  • Ecobank, First Holdco, Fidelity Bank, and Wema Bank each recorded over 100% growth in PAT compared to 2023.
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Key takeaways:

  • Ecobank Transnational Incorporated ranks first with total assets of ₦43.3 trillion, marking a 67% increase from 2023.
  • Access Holdings Plc ranked the second-largest bank in 2024, as against the first in 2023.
  • The combined assets of the top five banks amount to ₦171.6 trillion, a 55% increase from 2023.
  • These five institutions represent the largest players in Nigeria’s banking sector by total assets as of 2023 and 2024.
  • The increase in total assets of the top ten banks ranges from 34% to 67% year on year.
  • The assets of the top ten listed public banks rose by 54% in 2024.
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Global monthly cellular data usage by mobile application category (Jan. 2025)
  • Video apps consumed 75.86% of the total global mobile data, making them by far the largest data users.
  • Social networking apps accounted for 7.84% of the total data usage, translating to 11.52 exabytes.
  • The "Others" category, which includes smaller app groups, made up 10.48% of global mobile data usage.
  • Software updates consumed 2.73% of the global mobile data volume, equivalent to 4.01 exabytes.
  • Web browsing took up 1.42% of mobile data use globally, accounting for 2.09 exabytes.
  • Audio apps like streaming music services accounted for 1.20% of the total mobile data usage.
  • File sharing applications consumed just 0.47% of the mobile data globally, indicating a relatively small share compared to other categories.
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Popes in the history of the papacy by their country of origin (as of 2024)
  • Italy alone accounts for 217 popes, dominating papal history more than any other region or country.
  • France, the second-most represented, has had only 16 popes, which is fewer than one-tenth of Italy's total.
  • Germany and Syria have had 6 and 5 popes respectively, reflecting early and medieval Church dynamics.
  • Africa has had just 3 popes.
  • Modern nations like Argentina, Poland, and the Netherlands have produced only 1 pope each.
  • Israel (3), Greece (4), and Turkey (2) are notable for their ancient Christian histories but limited papal presence in modern times.
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  • Nigeria spent $6 million on its first post-independence census in 1962.
  • There is no publicly available data on the amount spent during the 1991 census.
  • By 2006, census spending had surged to $266 million, highlighting a significant increase in the cost of national population counts.
  • The budget for the upcoming 2025 census has not yet been disclosed.
  • In April 2025, President Tinubu inaugurated the National Census Committee and gave a three-week deadline to submit a detailed report.
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Key takeaways:

  • Kano State received the highest allocation at ₦1.23 billion, accounting for 5.7% of the total NPHCDA Gateway fund.
  • Katsina followed closely with an allocation of nearly 4%.
  • Five of the top ten recipient states are from Southern Nigeria, while the other five are from the Northern part of Nigeria.
  • Southern states (Osun, Oyo, Anambra, Akwa Ibom, and Imo) featured prominently, together receiving approximately 19% of the total disbursement.
  • The top ten states collectively received ₦8.30 billion, representing 38.6% of the total fund.
  • In total, ₦21.51 billion was disbursed to all states under the NPHCDA Gateway in 2024.
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  • India led globally for 21 of 24 years, followed by China (2) and Mexico (1)
  • No African country ever topped global remittance inflow rankings
  • Nigeria ranked among the top 10 recipients for several of the years
  • India’s dominance reflects its large global diaspora and steady labour migration
  • China’s brief lead came in the early 2000s but it was overtaken quickly
  • Mexico in the top spot for one year was tied to strong remittance links with the US
  • The top countries rarely changed, showing a stable global remittance pattern
  • Most global leaders have large populations abroad in high-income economies
  • Global remittances remain a major economic lifeline for developing countries
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  • Egypt had the highest total remittance inflows across all years in the dataset.
  • Nigeria was consistently among the top 3 recipients every year, topping the chart for 13 years.
  • Morocco and Ghana showed strong, stable inflows throughout the 2000–2023 period.
  • Kenya and Senegal experienced some of the fastest remittance growth from 2000 to recent years.
  • Rwanda had high percentage growth, though starting from a small base.
  • A noticeable dip occurred in 2020 for most countries, likely linked to COVID-19 — followed by recovery in 2021 and 2022.
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Key takeaways:

  • Kano State received the highest individual allocation, totalling ₦1.43 billion, which accounts for 6% of the overall disbursement.
  • The North-West region received the largest regional share, with ₦7.16 billion of the total NHIA Gateway Fund.
  • The South-West received the smallest regional allocation, amounting to nearly 10% of the total.
  • The top ten recipient states collectively received ₦10.07 billion, representing 42.1% of the entire fund.
  • The Southern regions collectively received 42% of total disbursement.
  • The total NHIA Gateway Fund disbursed in 2024 amounted to ₦23.92 billion.
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Key Takeaways:

  • Kaduna led national corn production on average, contributing 8% of total output, between 450,000 and 947,000 metric tons.
  • Niger, Gombe, Borno, Plateau, and Taraba followed closely, each accounting for 5–6% of the total output on average.
  • Corn production is heavily concentrated in the North-Central and North-East regions.
  • Kaduna and Niger together accounted for 14% of Nigeria’s corn output on average.
  • The top 10 corn-producing states, all located in northern Nigeria, on average contributed 47% of the national total.
  • Southern states such as Osun and Ondo contributed modest but notable shares, each representing 3% of national production on average.
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  • Nigeria leads Africa with 1,630.83 points, ranked 36th globally, maintaining their long-standing supremacy in Africa's women’s football.
  • South Africa remains second, 165 points behind Nigeria, consolidating their position after consistent WAFCON performances.
  • North Africa's breakthrough is evident with Morocco at 3rd, driven by recent World Cup appearances and continental success.
  • There is tight competition in mid-table, with Zambia, Cameroon, and Ghana separated by less than 12 points.
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  • Nigeria’s D’Tigress leads Africa with 640.1 points, holding 8th place in the world rankings.
  • Mali sits in second with 343.7 points, more than 290 points behind Nigeria.
  • Senegal, Mozambique, and Cameroon complete Africa’s top five, all ranked within the global top 40.
  • South Sudan enters the continental top 10 at 10th, while ranking 55th globally.
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  • The USA dominates the rankings with 880.9 points, holding a significant lead over second-placed Australia (719.6).
  • France and China follow closely in 3rd and 4th, separated by just 6.5 points.
  • Nigeria’s D’Tigress ranks 8th globally with 640.1 points, the highest for any African nation.
  • Brazil and Serbia round out the top 10, both under 640 points.
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  • Nigeria led with 78.9 Mtoe, accounting for over 22% of Africa’s total oil output.
  • Algeria (59.3 Mtoe) and Angola (57.4 Mtoe) followed closely; the three top producers together supplied] 56% of the continent’s oil.
  • Africa’s total oil production was 345.5 Mtoe, just 7.6% of the global total (4,542.7 Mtoe).
  • The top 5 producers accounted for over 80% of Africa’s oil.
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  • The United States of America dominated the production of gas oil with 234,886 metric tons, making up 32.4% of the global total in 2023.
  • Only four countries in Africa, Niger, Chad, Ghana and Zambia, produced gas oil.
  • Africa barely produced 0.13% of the global total of gas oil.
  • Australia imported 25.1k metric tons of gas oil, making it the country with the highest quantity of gas oil import in 2023.
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  • FIRS recorded ₦15.9 trillion of non-oil tax, almost three times the ₦5.8 trillion recorded for oil tax.
  • Non-oil tax revenue made up 73.3% of the total revenue collected in 2023.
  • From 2012 down to 2024, non-oil tax revenue surpassed oil tax revenue most of the time.
  • Oil taxes are petroleum profit tax and company income (oil & gas) tax while non-profit tax includes company income (non-oil) tax, gas tax, capital gains, stamp duty, NCS import VAT, and non-import VAT.
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