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  • Airtel Nigeria started 2023 with slight drops in revenue in Q1 and Q2. However, a significant decline was recorded in the third quarter, representing the biggest quarterly decline since Q3 2018. Here are Airtel Nigeria's revenues since Q2 2018.
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    Since Nigeria's first attendance at the Olympic games, the country has won a total of 27 medals; 3 gold, 11 silver and 13 bronze medals. Following the just concluded Tokyo 2021 Olympic Games, we look at the African countries by Olympic medals won in the 2021 Tokyo Olympic games.

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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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  • Global inflows of foreign direct investment fell by 12% in 2022, and Africa saw a 44% decline from $80 billion in 2021 to $45 billion. According to UNCTAD data, only two of Africa's five major regions — North and East Africa — saw a rise in FDI in 2022.
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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
 

 

  • The US dusbursed $512 million to Nigeria’s health sector during the fiscal year.
  • The US allocated over $232 million to HIV/AIDS programs in Nigeria.
  • The World Health Organization (WHO) warns that this freeze could reverse decades of progress in HIV prevention and treatment, with the potential to worsen global health outcomes.
  • PEPFAR, a US initiative, provides HIV treatment for over 20 million people worldwide.
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  • Nigeria's GDP in 2025 is expected to grow faster than in 2024.
  • Nigeria's GDP growth rate has stayed below 3.5% since 2016, reaching 3.2% in 2024.
  • The federal government's 3.68% projection in 2025 is lower than its 2024 projection of 3.74%
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  • Europe and Eurasia led overall, with $19.59 billion.
  • $11.13 billion was disbursed to the Middle East; nearly half ($5.48b) was for military support.
  • Sub-Saharan Africa was the second largest recipient, with $16.21 billion.
  • President Trump paused all US foreign aid for 90 days to reassess alignment with strategic priorities.
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Key takeaways:

  • Economic development in Africa often relies heavily on carbon-intensive energy sources.
  • Emissions by South Africa were more than twice Algeria's.
  • The top four countries have been the highest contributors to carbon emissions in the past four years.
  • Sixty-nine percent of carbon emissions in Africa in 2023 were from the top four African countries.
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Key takeaways:

  • African countries have the lowest life expectancy.
  • Most of the countries with the highest life expectancy are in Europe and Asia
  • The countries with the highest life expectancy are mostly developed nations.
  • Thirteen countries were observed to have a life expectancy above 84 years, while 11 countries have a life expectancy below 61 years.
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Key takeaways:

  • Asia contributes more than 50% to global emission
  • CO2 contributes to the rise of climate disaster
  • Africa's vulnerability to climate change can be attributed to its limited adaptive capacity and high exposure to severe climate risks.
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  • The top 15 Nollywood movies grossed ₦3.4 trillion combined.
  • The top Nollywood movie in 2024, Everybody Loves Jenifa, accounted for 33.3% of the ₦3.4 trillion.
  • 13 Nollywood movies crossed ₦100 million in earnings.
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  • While all states increased their budgets in 2025, only ten increased their budgets by less than 50%.
  • Akwa Ibom is the only state with a year-on-year budget increase below 20%.
  • Lagos has the country's biggest budget and the highest increase in the group, at nearly 50%.
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  • Some organisations project that Nigeria's 2025 inflation rate will be lower than 2024's 33.2%.
  • Projections for 2025 range from the AfDB's optimistic 20.7% to Meristem's bearish 33.99%, reflecting variations in the expected average annual inflation rate.
  • International organisations have more optimistic projections on Nigeria's average inflation rate in 2025 compared to local organisations.
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Key Takeaways:
  • Africa’s sesame seed oil production grew from 23,706 tonnes in 1961 to 217,048 tonnes in 2022, an overall increase of 815%.
  • The highest production was recorded in 2012, with an output of 375,697 tonnes, which is more than 15 times the 1961 volume.
  • Between 1961 and 2012, production rose by 1,484.8%.
  • The largest single-year increase occurred between 1969 and 1970, when production jumped from 41,456 tonnes to 101,472 tonnes.
  • After reaching its peak in 2012, production experienced notable fluctuations, settling at 217,048 tonnes by 2022.
  • The sharpest annual decline occurred in 2013, with a 38.6% drop following the 2012 peak.
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Key takeaways:
  • Over the past six decades, global wine production has remained relatively stable, averaging around 28 million tonnes annually.
  • Wine production increased from 21.5 million tonnes in 1961 to 27.4 million tonnes in 2022.
  • The highest production was recorded in 1979, reaching 37.5 million tonnes.
  • The second-highest year was 1982, with a production of 37.4 million tonnes.
  • Wine production exceeded 30 million tonnes in ten different years between 1961 and 2022.
  • Between 2000 and 2022, production was consistently stable, averaging about 27 million tonnes.
  • The 2022 production of 27.4 million tonnes represented a 27.3% increase compared to 1961.
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Key Takeaways:
  • African wine production peaked in 1965 at 2.39 million tonnes, the highest level recorded during the entire period.
  • The most dramatic single-year drop occurred between 1965 and 1966, when production fell by 40%, from 2.39 to 1.44 million tonnes.
  • A gradual recovery began in the early 2000s, with production consistently exceeding 1 million tonnes from 2003 onward.
  • The most recent peak occurred in 2021, with production reaching 1.23 million tonnes, a 48.5% decline from the 1965 high.
  • Despite this partial recovery, current production levels remain well below the highs of the 1960s.
  • As of 2022, African wine production stood at 1.16 million tonnes, representing a 43% decrease from 1961.
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Key Takeaways:    
  • China’s exports to Nigeria increased from less than $100 million in 1992 to $20.2 billion in 2023, an overall growth of 22,074%.
  • The highest export value was recorded in 2022 at $22.3 billion.
  • China's exports to Nigeria dropped sharply in 2016 to $9.7 billion from $15.39 billion in 2014.
  • After a sharp 29% decline between 2015 and 2016, exports entered a period of sustained growth beginning in 2017.
  • The 2020–2022 period saw remarkable growth, with exports rising by 33% despite global pandemic challenges.
  • In 2023, exports declined by 9.5%, yet remained significantly above pre-pandemic levels.
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Value of startup funding deals in Francophone Africa by type of deal, 2024
  • 87.2% of startup deal value in Francophone Africa in 2024 came from equity funding.
  • Debt financing made up only 12.4% of the total startup capital raised, showing its limited role.
  • Grants accounted for just 0.4%, reflecting minimal non-dilutive support for startups.
  • Startups are more likely to trade ownership than take on debt or apply for grants.
  • The funding landscape remains investor-driven, with equity seen as the path to scale.
  • The near absence of grant funding may hinder innovation for startups that need early runway but aren't ready to give up equity.
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Nigeria's arts, entertainment, and recreation sector's contribution to GDP (2020 - 2050)
  • The arts, entertainment, and recreation sector contributed 4.12% to Nigeria’s GDP in 2020.
  • By 2025, this contribution is projected to rise modestly to 4.43%.
  • The growth rate maintains a steady pace, reaching 4.75% by 2030.
  • By 2050, the arts, entertainment, and recreation sector is projected to reach a 6.00% share of Nigeria’s GDP.
  • With only a 1.88 percentage point rise forecasted over 30 years, the pace of growth suggests the sector remains undervalued or under-leveraged relative to its potential.
  • The creative economy’s resilience, despite limited public infrastructure and policy support, demonstrates strong organic demand and global competitiveness.
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