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  • Per projections made by Goldman Sachs, China should lead the global economy in terms of GDP by the year 2075, closely followed by India and the US. Nigeria and Egypt are the only African countries expected to be in the top 15 by that time.

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    Every Nigerian president since 1999 left office with a higher dollar to naira exchange rate than when they took office. Will President Tinubu's tenure be the exception?

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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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  • 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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  • 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.

    See more
Other Insights
 
  • Africa received $96.4 billion in remittances in 2024.
  • Egypt ($22.7B) and Nigeria ($19.8B) dominated inflows, accounting for nearly half of the continent’s total.
  • Egypt’s 16% growth reflects stronger remittance networks and economic linkages with its diaspora.
  • Nigeria’s inflows grew modestly (1%).
  • Ghana recorded the highest growth (91%), indicating a resurgence in diaspora remittances.
  • Zimbabwe (-6%) and Tunisia (-3%) experienced declines, pointing to potential disruptions in inflow channels.
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  • Nigeria’s energy goods exports rose from ₦37.3B in 2017 to ₦262.9B in 2024, before falling to ₦154.2B in H1 2025.
  • Imports remained consistently low, ranging from ₦24.2M to ₦353.1M throughout the period.
  • Export growth outpaced imports, showing a widening trade surplus in energy goods.
  • The 2024 spike in exports represents the highest export value within the nine-year window.
  • Energy imports stayed below ₦400M yearly, indicating low dependency on foreign energy goods.
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  • 2.3 million Kenyan adults lack a national ID, a significant barrier to full participation in the formal economy.
  • The 18–25 age group dominates the ID-less population, accounting for 80.5% (around 1.9 million individuals).
  • Young adults face the highest exclusion risk, often missing out on opportunities that require verified identification.
  • Only 8.5% of the ID-less population falls within the ages 26–35, showing a sharp improvement in ID ownership as people age.
  • Older adults (46+ years) make up less than 10% of the ID-less group, indicating near-universal ID access among mature populations.
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  • Lagos leads with 83% Christians.
  • The South-East and South-South dominate the top 15.
  • Christianity is strongest in southern Nigeria.
  • Ekiti and Ogun show moderate Christian presence in the South-West.
  • Plateau is the only northern state on the top 15 list.
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  • 25.8 million Kenyan adults now own a national ID.
  • Youths dominate ID ownership, with 18–35-year-olds making up 52.9% of all ID holders.
  • The 26–35 age group leads the way, accounting for 30.1% of total ID owners.
  • Young adults (18–25 years) form 22.8% of all ID holders
  • Older adults (46+ years) collectively make up less than 30% of all ID holders.
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  • Nearly 1 in 4 young adults (18–25 years) in Kenya lack an ID document.
  • This rate (24.4%) is 12 times higher than that of any other adult age group.
  • ID ownership rises sharply after age 25, reaching over 98% across all older categories.
  • Adults aged 36–45 years and above 55 years show the highest ID possession rate at 98.5%.
  • Closing the ID gap among the youth is essential to advancing financial inclusion, employment access, and digital service uptake in Kenya.
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  • Kenya’s financial inclusion surged from 33.2% (men) and 20.5% (women) in 2006 to 85.7% and 84.1%, respectively, in 2024.
  • The gender gap in financial access has nearly disappeared, shrinking from 12.7 percentage points in 2006 to just 1.6 points in 2024.
  • Women’s financial inclusion grew faster, closing the gap primarily between 2009 and 2016, a period marked by mobile money expansion.
  • Digital finance has been a major driver, with mobile banking and fintech solutions providing easier and safer access to financial services.
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  • Adults aged 26–35 years have the highest formal financial access in Kenya at 92.9%.
  • The 36–45 age group follows closely with 92.7% formal inclusion, highlighting strong access among the middle-aged population.
  • Young adults (18–25 years) remain the most financially excluded group, with 23.1% still outside the financial system.
  • Older adults (above 55 years) also show weaker inclusion, with 84.1% formal access and 9.7% exclusion.
  • Informal access remains relatively low across all age groups, signalling the dominance of formal channels.
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  • Christians and Muslims dominate the faiths in Nigeria, with almost 93% of the population identifying with either of these religions.
  • 106.6 million Nigerians identify as Christians, representing about 46.5% of the population.
  • 105.3 million are Muslims, making up 46% of the population.
  • 16.4 million people still follow ethnic or traditional religions, honouring ancestral spirits, deities, and sacred rituals that predate colonial times.
  • Other religions in Nigeria include Agnostics (592,000), Baha'is (57,600), Hindus (45,000), Buddhists (12,600), Jews (1,200) and Atheists (65,000).
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  • Formal financial access in Kenya surged from 26.7% in 2006 to 84.9% in 2024, a threefold increase.
  • The share of financially excluded adults dropped drastically from 41.3% to 9.9% over the same period.
  • Informal access, through community-based and unregulated systems, has declined steadily as more people moved to formal systems.
  • Kenya achieved over 80% formal access by 2019, marking a turning point in its financial inclusion journey.
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  • A total of ₦20.45 trillion in Internally Generated Revenue (IGR) has been recorded nationwide since 2008.
  • Lagos State generated ₦1.26 trillion in 2024, maintaining its position as the top revenue-generating state.
  • For five consecutive years, Yobe and Taraba have consistently ranked among the bottom five states in revenue generation.
  • FCT IGR records began in 2018.
  • Enugu State recorded a remarkable 433.03% year-on-year increase in 2024.
  • Ebonyi (–57.27%), Ondo (–24.70%), and Yobe (–0.99%) were the only states that experienced a decline in IGR in 2024.
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  • China has dominated Nigeria’s imports from Asia, maintaining a 50–55% share for most of the period.
  • China’s share reached its highest level at 58.6% in H1 2025.
  • India's import share remained volatile, ranging between 11% and 25%.
  • Total imports from Asia surged from ₦2.6 trillion in 2013 to ₦16.4 trillion in H1 2025.
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  • The naira buys the most in countries like Guinea, Uganda, Burundi, and Malawi, where local currencies have lost value faster.
  • High inflation and unstable monetary systems have eroded the strength of several African currencies.
  • Most of the weakest currencies are in East and West Africa.
  •  The naira’s higher value in these countries does not mean it has fully recovered.
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  • Anambra has the highest intercity transport fare at ₦9,862, exceeding the national average by ₦1,857.
  • Kwara recorded the lowest fare at ₦5,991, a difference of nearly ₦3,900 from Anambra.
  • The national average fare for intercity bus travel stood at ₦8,005 as of July 2025.
  • Imo (₦9,710) and Oyo (₦9,708) followed closely behind Anambra, rounding out the top three highest-fare states.
  • The South West (₦8,570) and South East (₦8,547) were the most expensive regions for intercity bus travel.
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  • Lagos State tops the list with the highest intra-city bus fare at ₦1,384, exceeding the national average by ₦355.
  • Abia State recorded the lowest average fare at ₦508, showing a stark difference of ₦876 between the highest and lowest states.
  • The national average fare for a bus trip within Nigerian cities stood at ₦1,028.40 as of July 2025.
  • Nasarawa (₦1,306) and Enugu (₦1,280) followed closely behind Lagos State, rounding out the top three highest fares.
  • The South West had the highest regional average fare (₦1,116), while the South South (₦985) and North West (₦995) had the lowest.
  • States like Taraba (₦1,250) and Zamfara (₦1,248) also featured in the top six, showing that high fares are not limited to Southern urban centres.
 
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  • Osun (₦1,867) has the highest CoHD, while Kaduna (₦1,227) has the lowest, a gap of ₦640.
  • The national average CoHD stood at ₦1,495 as of December 2024.
  • Southern states, particularly in the South West, record the highest diet costs.
  • Northern states dominate the list of the most affordable places to eat healthy.
  • Rising costs in urban centres like Lagos (₦1,702) and Rivers (₦1,780) reflect the impact of logistics and inflation.
  • The ₦640 state gap shows inequality in dietary access, which can deepen nutrition and welfare disparities.
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  • The share of minimum wage needed to afford a healthy diet fell from 124.1% in June to 54.2% in July 2024, when the minimum wage was increased from ₦30,000 to ₦70,000.
  • Before July, the cost of a healthy diet for a month exceeded 100% of [the] minimum wage, making it unaffordable for minimum-wage earners.
  • The sharpest burden was recorded in June 2024, when households needed their full salary plus 24% extra to eat healthily.
  • Between July and December, affordability worsened slightly from 54.2% to 64.1%, indicating that food prices continued to rise despite the wage boost.
  • The implementation of the ₦70,000 minimum wage in 2024 provided significant relief to Nigerian households struggling with the high cost of eating healthily.
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  • The Cost of Healthy Diet (CoHD) in Nigeria increased by over 74% in 2024.
  • The average cost rose from ₦858 in January to ₦1,495 in December.
  • June 2024 recorded the sharpest monthly jump at 19.2%, the highest of the year.
  • From August to December, CoHD rose steadily — showing no reversal in trend.
  • The persistent rise reflects food inflation, weak supply chains, and increasing import costs.
  • For many Nigerians, maintaining a healthy diet is becoming increasingly unaffordable, threatening nutrition and welfare outcomes.
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