The Nigerian Workplace Report indicates that over 50% of Nigeria’s working population earns less than ₦200,001 monthly. It further highlights that individuals earning above ₦600k are among the top 10% earners.

Over the past seven years, West Africa has consistently been Jumia Group's top market, contributing at least 43% of the company's total revenue. In contrast, regions like East and South Africa have not exceeded a 21% revenue contribution in any single year within this period.

Argentina's inflation rate dropped to 209% in September 2024 from 237% in August, slightly easing costs. Despite this, the South American country still has the highest inflation rate of the 184 countries and territories ranked.

Nigeria's inflation rate stands at 32.7%, ranking 9th globally and 4th in Africa after South Sudan, Zimbabwe, and Malawi.

Private institutions represent the largest share of Nigeria’s higher education sector, accounting for half of the universities and polytechnics in the country.

Between 2000 and 2023, Africa received $182 billion in Chinese loans, primarily for energy and transportation development.

Angola, with 25%, was the largest recipient; Ethiopia, Egypt, Nigeria, and Kenya followed.

While 49 countries benefited, experts warn of increasing debt risks.

Over the years, Nigeria has seen significant increases in electricity revenue.

Revenue surged from ₦129 billion in 2015 to ₦683 billion in H1 2024, while the number of customers has doubled from 6.5 million to 13 million.

This 428% increase in revenue highlights rising consumption and tariff hikes.

In 2017, MTN Uganda recorded a 58% increase in profit with only a 9% revenue increase. On average, the telco had an 18.2% yearly increase in profit between 2016 and 2023, while revenue growth was at 9.2% yearly.

The population of Nigerian-born immigrants in the US has more than doubled in nearly two decades, growing at an average rate of 4.8% per year.

By 2023, the number reached 476k, up from just under 200k in 2006 — a 141% growth.

Nigeria has been leading Africa in immigrant numbers in the US, ranking 22nd globally.

Rising immigrant numbers could strengthen remittance flows back to Nigeria.

In 2023, the US immigrant (foreign-born) population reached an estimated 47.83 million, a 3.6% increase from 46.18 million in 2022, with Mexico leading as the top country of birth for immigrants, contributing nearly 23% of the total.

India, China, and the Philippines follow, with significant communities from El Salvador, Cuba, and Guatemala.

Ten states in Nigeria account for 67% of all commercial bank branches. Lagos has over 1,000 branches, while no other state has more than 350. Thirteen states have less than 50 branches each, and Yobe, Ebonyi, and Taraba each have less than 25.

In H1 2024, Nigeria's FDI accounted for just 2.5% of the country's $5.98 billion total capital imports, down from 14% in H2 2023 and 6.2% in H1 2023.

This highlights a shift towards other capital inflows like portfolio investments.

Portfolio investments rose significantly to $3.48 billion, rebounding from $397 million in H2 2023 and $756 million in H1 2023.

Nigeria's FDI has dropped significantly. From an average of $417m per quarter (2013-2015) to less than $100m (Q1 2022 - Q2 2024), it hit its lowest ($29.8m) in Q2 2024.

The trend shows declines since 2013, with key fluctuations and a shift in investment priorities.

• 2013-2015: FDI was mostly above $200 million per quarter, peaking at $769 million in Q4 2014.
• 2016-2021: FDI mostly stayed under $400 million, with a $531 million spike in Q3 2018.
• 2022-2024: FDI hit new lows, bottoming out at $48 million in Q1 2023 and falling even further to $29.8 million in Q2 2024 — the lowest in 46 quarters.