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  • Figures as of December 2022 show that Nigeria's millionaires decreased by 30% between 2012 and 2022, indicating a significant shift in the dynamics of wealth. Mauritius saw a noteworthy increase of 69%, with Kenya recording a 30% growth.
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    In the US fiscal year 2022, 26% of Nigerians who applied for a US visitor visa were denied, marking the lowest refusal rate in 17 years. After a steady refusal rate of between 32% and 38% from 2007 to 2015, there was an increase to 67% over four consecutive years.
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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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  • 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.

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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:

  • Tunisia ranked the highest in Africa with a remarkable life expectancy of about 77 years, surpassing Africa's value of 64 years.
  • Five North African countries are among the top 8 countries with the highest life expectancy at birth in Africa.
  • There is a significant 22-year difference between the life expectancy in Tunisia (77 years) and Nigeria (55 years).
  • Sub-Saharan countries generally have lower life expectancy rates.
  • Nigeria is ranked among countries with the lowest life expectancy in Africa and the world.
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Key takeaways:

  • Sudan requires the largest amount of humanitarian assistance, exceeding $4.16 billion.
  • The Syrian Arab Republic is second on the list of recipients, requiring $4 billion in humanitarian aid.
  • A total of eleven top countries are set to receive over $1 billion each in support, with the leading six countries requiring more than $2.4 billion each.
  • The top ten countries account for over 75% of total global humanitarian needs, which exceeds $32 billion.
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  • December 2024 saw the biggest year-on-year increase in average movie ticket price since the 38.5% increase in 2021.
  • Cinema ticket prices in Nigeria have maintained an upward price trend since 2018, increasing by over 300%.
  • Since 2021, average ticket prices in December have maintained double-digit increases over 30% annually.
  • 2024's average ticket price was 17% below projections.
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Key takeaways:

  • The crisis in Ukraine, affecting about 12.7 million people, represents 5.13% of the global humanitarian needs.
  • The top eleven nations account for more than 70% of global humanitarian demands, with over 177 million individuals requiring aid.
  • Sudan has the highest number of individuals requiring assistance (30.4 million), which is 12.29% of the total global figure.
  • Both Nigeria and Chad report 7.8 million individuals in need, which is 3.15% of the total global humanitarian need.
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Key takeaways:

  • Economic activities are categorised into three sectors.
  • The services sector is the largest employer of labour.
  • The data indicates that Nigeria's economy is primarily service-based.
  • The industry sector comprises of mining and quarrying, manufacturing, construction, and public utilities.
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Top 10 nations in the world with the highest inflation rates
  • With 120% and 118% inflation rates, respectively, the two top nations are experiencing economic meltdowns, making essentials like food and housing almost unattainable.
  • With 57.5% inflation, Zimbabwe continues its battle against economic instability, making it the 4th highest in the world and the worst in Africa.
  • The fact that several countries exceed the global average of 7.27% by 4x to 16x highlights the severe economic strain facing multiple regions.
  • Countries with inflation above 30% risk prolonged economic instability as businesses struggle to survive and citizens face rising poverty levels.
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Share of FGN domestic debt service payment (2017 - 2024)
  • FGN Bonds dominate Nigeria’s domestic debt service payments, rising from 66.6% in 2017 to 87.9% in 2024. This reflects a growing reliance on long-term debt financing.
  • Treasury Bills have seen a sharp decline in their share of domestic debt service, dropping from 30.1% in 2017 to just 6.4% in 2024. This suggests a shift away from short-term debt instruments.
  • Treasury Bonds, which peaked at 14.9% in 2022, also declined to just 5.6% in 2024.
  • By 2021, over 80% of domestic debt service payments were already allocated to FGN Bonds, showing a consistent pattern of prioritisation. The trend has only intensified in subsequent years.
  • The rising dominance of FGN Bonds means Nigeria is locking itself into long-term repayment obligations, potentially increasing the fiscal burden in the future.
  • This trend underscores the need for careful debt management policies to prevent a future where long-term commitments become a burden rather than a stabilising factor. 🚨
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  • Lagos led Nigeria’s box office with ₦5.8 billion in revenue, generating more revenue than all other regions combined.
  • The South-South emerged as the strongest market outside Lagos, contributing ₦2.1 billion, nearly 50% more than the South-West.
  • Abuja outperformed all three northern zones combined, earning ₦852 million, which is nearly four times their total revenue.
  • Cinema penetration in northern Nigeria remains weak, with the North-East contributing only ₦2.4 million—less than 0.05% of the national total, highlighting a significant gap in cinema infrastructure and audience engagement.
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Federal Government of Nigeria's capital expenditure (2010 - 2024)
  • Between 2010 and 2024 (a 15-year period), the federal government invested over ₦25.7 trillion in capital projects.
  • The post-2020 era saw a dramatic rise in capital expenditure, growing from ₦1.61 trillion in 2020 to ₦5.15 trillion in 2024, indicating accelerated investments in infrastructure.
  • The increase in expenditure after 2020 suggests the government prioritised economic recovery efforts, allocating more resources to capital projects post-pandemic.
  • Nigeria recorded its highest-ever capital expenditure in 2023 (₦4.49 trillion) and 2024 (₦5.15 trillion), showing a more aggressive investment approach in recent years.
  • 2014 recorded the lowest capital expenditure (₦0.59 trillion) in the 15-year span, possibly due to revenue shortfalls, oil price fluctuations, or policy shifts at the time.
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Federal Government of Nigeria expenditure on pension and gratuities (2013 - 2024)
  • Since 2013, the Nigerian government has disbursed ₦3.4 trillion in pension and gratuity payments.
  • Pension expenditure jumped from ₦107.4 billion in 2013 to ₦438.6 billion in 2023, a nearly four times increase, showing the rising cost of maintaining pension obligations.
  • While pension spending grew gradually between 2013 and 2018, a significant spike began in 2019 (₦307.4 billion), showing a shift in pension allocations.
  • The highest pension expenditure recorded so far was in 2023, surpassing all previous years.
  • The Need for a Sustainable Pension System – With pension spending climbing yearly, ensuring a sustainable funding model will be crucial for future government budgets.
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  •  The three largest cinema chains in Nigeria grossed over ₦7.6 billion naira combined in 2024 from Anglophone West Africa
  • EbonyLife Cinemas made the highest amount of any single cinema location
  • Filmhouse Cinemas has maintained the highest box office revenue for seven years
  • At ₦3.3 billion naira, Filmhouse's 2024 revenue is the highest ever recorded by a cinema chain in the region
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  • Nigeria alone holds 89% of all cinema locations and 92% of all screens in the region.
  • Ghana is the second-largest market but has only seven locations and 18 screens, significantly trailing behind Nigeria.
  • Sierra Leone has four cinema locations and eight screens, while Liberia has just one location with two screens, highlighting the limited cinema infrastructure in both countries.
  • The overwhelming concentration of cinema infrastructure in Nigeria reflects its established film industry and audience demand.
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Top countriesterritories with the highest net migrants per 1,000 population (2024) in Africa
  • South Sudan ranks 2nd globally and 1st in Africa in net migration, with 19.1 migrants per 1,000 population.
  • Equatorial Guinea is the only other African country in the global top 10, with a rate of 12.1 per 1,000.
  • Djibouti (4.2), Gabon (3.5), and Botswana (2.7) round out the top 5 within Africa but trail far behind the top two.
  • Nigeria shows negative migration (-0.2), indicating more people are leaving than coming in.
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  • Global public agriculture funding between 1991 and 2023 totaled $878 trillion.
  • The U.S. alone received $199 trillion, averaging $6.2 trillion per year — the highest of any country.
  • Japan and China followed with $166 trillion and $122 trillion respectively.
  • Just 10 countries accounted for over 75% of the total.
  • Nigeria ranked 41st out of 145 countries, with only $1 trillion in 32 years — about $32 billion per year.
  • For a country with over 200 million people, that low level of investment tracks closely with rising food prices, low yields, and import dependence.
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  • 90.7% of approvals came from 10 countries — all in Asia and Africa; the rest of the world got just 9.3%
  • India: 222,521 approvals (highest)
  • Nigeria: 149,299 approvals (2nd overall, 1st in Africa)
  • Zimbabwe: 92,960 approvals (3rd overall, despite smaller population)
  • India, Nigeria, and Zimbabwe alone account for over 460,000 approvals — more than 62% of the total
  • Five of the top 10 countries are African
  • Total approvals (2020–2024): 741,933
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  • Netherlands imported the most cocoa beans — 25.48 million tonnes (1961–2023)
  • US (21.1M) and Germany (16.8M) followed in total volume
  • These three countries dominated the top 5 nearly every year
  • Malaysia, UK, France, and Belgium also ranked high over time
  • USSR stayed in the top 10 despite dissolving in 1991
  • Global cocoa imports grew from 1M tonnes in 1961 to nearly 4M in 2023
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Average net migrants per 1,000 population (2024) globally by region
  • Europe had the only significantly positive net migration rate in 2024 at 2.2 migrants per 1,000 people.
  • East and Southeast Asia recorded a modest net gain of 0.2 migrants per 1,000 population.
  • South America and Central America & the Caribbean saw slight net migration gains of 0.2 and 0.1, respectively.
  • Africa had a net migration rate of -0.4, showing more people are leaving the continent than coming in.
  • North America, despite being a key destination historically, recorded a net loss of -0.5 migrants per 1,000 people.
  • Australia and Oceania experienced the steepest net loss at -6.9 per 1,000 population.
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Top countries/territories with the highest net migrants per 1,000 population (2024) globally
  • Ukraine topped the global net migration rate at 36.5 per 1,000 population in 2024, highlighting its unexpected role in global migration.
  • South Sudan ranked second with 19.1 net migrants per 1,000.
  • Equatorial Guinea made the top 10 with a rate of 12.1.
  • Smaller island territories dominated the rankings, showing how migration impacts are magnified in smaller populations.
  • The British Virgin Islands and Venezuela both attracted high net migration rates (12.9 and 13.2, respectively).
  • Monaco and Luxembourg continue to draw migrants, reflecting their strong economies and strategic locations.
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