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  • Data from the National Bureau of Statistics reveal that the average bread prices in Nigeria increased by 20.71% for unsliced bread and 17.25% for sliced bread year on year. As Nigerians mourn this rise in cost, we consider the average bread prices over the past 24 months.

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    In 2022, Egypt, South Africa, Nigeria, Algeria, and Morocco collectively consumed an average of 2.712 million barrels of oil per day (Mb/d), 61% of the continent's daily oil consumption (4.478 Mb/d). African countries consumed 4.7% of the global usage (99.8 Mb/d).

    Egypt used the most (850.5 thousand barrels per day (Kb/d)), followed by South Africa (601.2 Kb/d) and Nigeria (514.5 Kb/d).

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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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  • As of December 2023, Johannesburg had the highest number of millionaires (12,300) in Africa; Cape Town followed with 7,400 millionaires. South Africa dominated the list, with its cities and regions claiming top spots.

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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

Key takeaways: 

  • The boneless beef price recorded the largest increase of more than ₦3,620 on average, followed closely by dried catfish (+₦3,619.35) and frozen chicken (+₦3,583.82).
  • Prices of major animal proteins have more than doubled, with price increases ranging from ₦1,900 to ₦3,630 on average.
  • The top 20 food items saw price hikes of at least ₦1,900.
  • The cost of a medium-sized crate of eggs more than tripled between May 2023 and December 2024.
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Key takeaways:

  • The total wealth of the three richest women surpasses $259 billion.
  • Alice Walton is the only woman in the world whose net worth exceeds $100 billion.
  • These women share a legacy of inherited wealth that they have successfully transformed into increased wealth.
  • Each of the top three richest women holds a net worth greater than $70 billion.
  • The top three richest women in the world are engaged in philanthropic endeavours.
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  • Women-led businesses in Africa raise significantly less funding than male-led counterparts. In 2017, female-led startups secured only $1 for every $25 raised by male-led startups, and this disparity persisted through 2024.
  • Despite making up 26% of all entrepreneurs in Africa, women receive less than 10% of total investment capital.
  • Women in Africa face structural financing challenges, including limited collateral, fewer investment networks, and biases in lending decisions.
  • While some countries have introduced financial inclusion programmes, overall access to credit for women remains disproportionately low.
  • The rise of women-focused venture funds, such as WIC Capital and Janngo, signals a slow but emerging shift towards more equitable funding distribution.
  • If this trend continues, Africa risks stifling economic growth by not fully leveraging the entrepreneurial potential of women-led businesses.​​
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Key takeaways:

  • The total wealth of Nigeria's top four billionaires amounts to $37.4 billion.
  • Aliko Dangote's fortune accounts for almost 64% of the overall wealth among Nigerian billionaires.
  • Dangote's net worth is more than three times the net worth of Adenuga, and nearly 16 times greater than Otedola's.
  • All four individuals accumulated their wealth primarily through entrepreneurial efforts.
  • The sources of wealth for Nigeria's four richest men span various sectors, including cement, telecommunications, agriculture, and energy.
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Percentage of African external debt owed by the top 11 African nations (H1 2024)
  • Just 11 countries hold 69% of Africa’s total external debt.
  • South Africa (14%) carries the highest share.
  • Egypt (13%) and Nigeria (8%) are among the top three.
  • Countries from Northern and Southern regions hold over 30% of Africa’s external debt.
  • Many of these nations rely on debt to drive development, but without efficient utilisation, rising debt could become a major drag on future progress.
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Key takeaways:

  • Africa’s wealthiest individual, Aliko Dangote, is approximately twice as rich as Johann Rupert and Nicky Oppenheimer.
  • Each of the three richest men in Africa have a net worth exceeding $10 billion.
  • Aliko Dangote maintains his status as Africa's wealthiest man, with a fortune that surpasses his closest rival by more than $9 billion.
  • The cumulative net worth of the five richest men in Africa is around $65.2 billion.
  • The difference in net worth between Africa's richest man and the fifth richest man is $17.1 billion.
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  • 68.9% of non-custodial sentences fall under community service. This sentencing method is by far the most utilised, indicating a strong preference for rehabilitation through public work.
  • Restorative justice is gaining traction (18.9%), emphasising reconciliation between offenders and victims rather than punitive measures.
  • Probation is the least utilised; despite being a common alternative to detention in other systems, probation accounts for just 5.6% of non-custodial sentences in Nigeria.
  • 6.7% of cases fall under "others," which could include lesser-known alternatives such as conditional discharge or special rehabilitation programmes.
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  • For every woman sentenced to a non-custodial measure, there are nearly 12 men (35:415), highlighting a strong gender disparity in non-custodial sentencing.
  • Men account for more than 9 out of every 10 non-custodial cases (92%), suggesting that crimes leading to these sentences are far more common among male offenders.
  • Women’s representation in non-custodial sentencing is much lower than their general crime conviction rates, indicating potential differences in crime type, judicial discretion, or rehabilitation approaches.
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Key takeaways:

  • Mozambique has the fewest individuals requiring support from the United Nations.
  • The UN plans to help 3.6 million of the 7.8 million people in Nigeria who require assistance.
  • Sudan is the only Northern African country recorded by the UN as having people in need.
  • In East and Southern Africa, the countries with the highest and lowest numbers of individuals in need are Ethiopia and Zimbabwe, respectively.
  • The Democratic Republic of Congo and Niger have the highest and lowest number of individuals needing assistance, respectively, in West and Central Africa.
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  • In February 2016, petrol was at its lowest price of 99.80 per litre, marking the last time fuel prices remained below 100.
  • By November 2024, petrol prices soared to an all-time high of 1,214.17 per litre, reflecting the compounded effects of inflation, currency depreciation, and global oil price volatility.
  • Over the nine-year period, the average petrol price stood at 272.65 per litre.
  • Between January 2016 and December 2024, petrol prices increased by 1,079.52, a staggering 984.96% rise, emphasising the long-term upward trajectory influenced by economic challenges, subsidy removals, and fluctuating exchange rates.
  • The most volatile period recorded a month-to-month price surge of over 129.23%.
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  • 66.6% of inmates (53,408) are awaiting trial, meaning 2 out of every 3 prisoners have not been convicted. This highlights major delays in the justice system, leading to prolonged detention without sentencing.
  • Male inmates dominate the prison population at 97.7%, with similar trends in both convicted (98.3%) and awaiting trial (97.4%) categories, highlighting a significant gender disparity in detention rates.
  • Only 33.4% of inmates (26,775) have been convicted, while the majority remain in legal limbo. This suggests that slow judicial processes are contributing to prison overcrowding and potential human rights concerns.
  • 75.4% of female inmates (1,399 out of 1,855) are awaiting trial, meaning only 1 in 4 female prisoners has been convicted
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  • The NGX premium board accommodates an elite list of companies that meet specific requirements
  • Six of the eight companies are audited by EY and KMPG, with each firm auditing three companies
  • PwC audits the remaining two companies on the premium board
  • Deloitte is the only big four firm that does not audit a premium board company
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Share of global active Instagram users by continent (Jan. 2025)
  • Asia alone holds over half of Instagram’s global users (51%), more than all other continents combined.
  • America is the second-largest region with a 28.8% share (501.4M users).
  • Europe accounts for 14.1% of Instagram’s audience, showing a modest footprint.
  • Africa, with 91.3M users (5.2%), still has plenty of headroom for expansion.
  • Oceania holds just 1% of the global user base, with 17.5M active users.
  • The user gap between Asia and other continents points to a major opportunity for brands looking to scale in Asian markets.
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  • Kenya recorded the highest ivory seizure among the top 10 countries, with 130,432 kg confiscated over the 34-year period.
  • China and Hong Kong follow closely, with 106,069 kg and 75,707 kg seized, respectively, showing their long standing roles as critical players in the global ivory network.
  • Vietnam and Singapore, both located in Southeast Asia, had substantial seizure records; 71,256 kg and 29,882 kg, indicating persistent trafficking through the region.
  • Nigeria leads West Africa in ivory confiscations within the top 10, with 23,031 kg, signalling its importance as a key node in the transit chain.
  • All countries listed in the top 10 are either source, transit, or destination points in the global ivory supply chain, reflecting how widespread and interconnected the illegal trade remains.
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  • Coal demand peaked in 2007 at 1,705.1 Mtce, after a steady rise from 1,123.2 Mtce in 1974, marking a 52% increase over three decades.
  • A dramatic drop followed post 2007, with demand falling by 44.8% to 941.3 Mtce by 2020, a loss of over 763 Mtce in just 13 years.
  • Between 2020 and 2024, the decline continued, albeit more gradually, reaching 832.7 Mtce, indicating a consistent downward trend.
  • Coal consumption in 2024 is the lowest in five decades, even lower than 1974 levels, reflecting a major shift in global energy use.
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Key Takeaways:
  • In June 2022, 9mobile recorded a peak of 324 port-ins.
  • The lowest port-in figure during the period was recorded in February 2025, with only one subscriber.
  • In June 2021, 9mobile received 191 new ported-in users, which decreased to 3 by April 2025.
  • Monthly port-in numbers have been progressively dropping, from a three-digit to a single-digit level by 2025.
  • A slight recovery was observed in May 2024 (226), but it was not sustained.
  • By early 2025, port-ins dropped to as low as 1-3 per month.
  • This trend is consistent with a sharp decline in its subscriber base.
  • Compared to other service providers, 9mobile has struggled to attract and maintain switching clients.
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Key Takeaways:
  • Africa’s total cashew nut (in shell) production increased from 172,050 tonnes in 1961 to over 2.25 million tonnes in 2023, a growth of approximately 1,209%.
  • Western Africa has been the primary driver of this growth since the 1990s and now produces the largest share of cashew nuts in Africa.
  • Western Africa accounted for 84% of Africa’s total cashew nut production by 2023.
  • Middle Africa has maintained a minimal but consistent level of production.
  • Eastern Africa led production from the 1960s through the 1980s before being overtaken by Western Africa.
  • The most significant growth in Africa’s cashew production began in the 1990s.
  • Despite overall growth, cashew production in Africa has experienced periodic fluctuations.
  • Mostly due to their climate conditions, Southern and Northern Africa regions are less favourable for cashew production than other African regions.
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Key takeaways:
  • MTN maintained the highest market share, growing from 41% in December 2015 to 52% by April 2025.
  • Airtel grew significantly, expanding from 22% in December 2015 to 34% by Apr 2025.
  • 9mobile experienced a steep decline, falling from 15% to 2% over the same period.
  • Globacom maintained stability until 2023, then saw a dramatic fall from 27% to 12% by December 2024.
  • The total market grew from 148.7 million in 2015 to 172.7 million subscribers in 2025 (16% growth).
  • 9mobile's market share declined from 22.2 million subscribers (15%) to just 3.0 million (2%) in 2025.
  • Globacom lost 41.5 million subscribers between 2023 and 2024.
  • Airtel's market share expanded from 22% to 34%.
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