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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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    According to UNESCO, low-budget movies from Nigeria and other African countries account for most of the films produced annually in Africa. Here is a breakdown of the estimated number of films produced annually, private television channels, and cinema screens by African region.

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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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  • 68% of Nigeria's capital imports in Q1 went to three sectors - banking, production, and IT services

    Most of Nigeria's capital imports in the first quarter of 2023 were directed toward three sectors. The banking sector got the most investments with $304 million, accounting for 27%, and the production and IT services sectors followed, with 22% and 19%, respectively.

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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
Top 10 African economies by real GDP growth (2024)
 
  • Niger’s 9.9% GDP growth in 2024 was the highest among African nations
  • At 7.0%, Rwanda remained one of Africa’s most consistent high-growth economies.
  • Despite being Africa’s largest economy, Nigeria’s 2.9% GDP growth is modest compared to smaller, more agile economies, signalling potential challenges in leveraging its vast resources.
  • The contrast between Niger’s 9.9% growth and Nigeria’s 2.9% highlights how smaller nations can outperform larger ones.
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  • Techstars three-month accelerators happen in different locations across the world.
  • The ARM Labs Lagos Techstars Accelerator admitted ten startups between 2022 and 2023.
  • 2022 and 2023 account for 69% of all Nigerian startups admitted into a Techstars accelerator.
  • Techstars Toronto Accelerator admitted more Nigerian startups than any other location.
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  • The share of 2G has fallen from 60% to 42% in one year.
  • 4G has seen the largest increase among all mobile generations, making it the market leader.
  • 3G has shrunk by 0.5% points while 5G grew by 1.4% over the same period.
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  • 60 Nigerian startups have featured annually in the prestigious Y Combinator startup accelerator programme since 2016.
  • Y Combinator admitted a record 23 Nigerian startups into its accelerator in 2022.
  • There has been a significant decline in Nigerian startups accepted into the programme after the peak in 2022.
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Share of total DMB credit to the Nigerian industrial sector (Jan-Sep 2024)
 
  • The Manufacturing industry received the lion’s share of DMB credit to the industrial sector, consistently surpassing 50% and peaking at 56.9% in September.
  • Despite being a crucial part of Nigeria’s economy, the Oil and Gas industry received 40–42.8% of the credit, which was less than the Manufacturing industry.
  • The Power and Energy industry received less than 5% of credit throughout the period, reflecting minimal support for the industry.
  • Manufacturing’s share increased from 52.4% in January to 56.9% in September, indicating growing prioritisation of this sector.
  • Approximately 0.2% of total credit was allocated to mining and quarrying, showcasing an almost complete neglect of this sector.
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Top 8 economies by real GDP growth (2024)
 
  • Guyana leads with a 43.8% GDP growth, driven by its oil boom and foreign investment.
  • Interestingly, the rest of the list comprises smaller economies, including Samoa, Palau, and Rwanda, each showing promising growth rates.
  • African countries like Niger and Rwanda take significant spots on the list.
  • Nigeria has a growth rate of 2.9%, putting the country in 104th position worldwide (out of 190 countries)
  • The list reflects diverse regional representation, from Africa (Rwanda, Niger) to Asia-Pacific (Macao, Samoa, and Palau) and Latin America (Guyana).
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Top ten countries by Global Peace Index (Global and sub-Saharan)
 
  • Mauritius leads in Africa, ranking 22nd globally, with the best GPI score in sub-Saharan Africa (1.577).
  • Iceland continues to lead as the most peaceful nation in the world with an impressive GPI of 1.112.
  • Madagascar and Botswana rank 2nd and 3rd in sub-Saharan Africa, with GPI scores of 1.838 and 1.863, respectively.
  • The peace gap is evident, with sub-Saharan Africa’s top scorer, Mauritius, trailing behind global leaders.
  • Despite making the sub-Saharan top ten, Angola ranks 72nd globally, highlighting room for significant improvement.
  • Europe dominates the global top ten peace rankings, showcasing the impact of regional stability and cooperation.
  • Nigeria ranks 38 in the continent and 147 worldwide with a GPI of 2.907
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Top 20 African countries by their openness index (2024)
 
  • Eight African countries, including Burundi, Cape Verde, and Kenya, lead the way with a perfect score of 198, setting the standard for unrestricted accessibility and visa-free entry.
  • Nations with high scores will likely attract increased tourism, business opportunities, and cultural exchange, positioning themselves as hubs for international engagement.
  • Nigeria has a score of 49 out of 198, showing a relatively low openness.
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  • Ayra Starr's Spotify listeners more than doubled in 2024, ending 2024 as the Nigerian artiste with the most monthly listeners on Spotify.
  • Rema recorded the highest peak in Spotify listeners among Nigerian artistes.
  • Rema lost 14.4 million listeners in the year.
  • Other artistes like Burna Boy, Tems, and Wizkid, also saw listener bases increase in 2024.
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Real GDP growth forecast by region (2025-2029)
 
  • Africa will consistently achieve the highest GDP growth rate, projected at 4.4% from 2026 to 2029.
  • The Asia & Pacific region remains robust, starting at 4.3% in 2025 but is expected to gradually narrow down to 4.0% by 2029.
  • The global average GDP growth will hover around 3.2% from 2025.
  • Europe exhibits the slowest growth, starting at 1.6% in 2025 and declining to 1.5% by 2029.
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African Infrastructure Development Index (AIDI) of countries with the highest nominal GDP in Africa (2003 - 2024)
  • Morocco's AIDI score rose from 19.08 in 2003 to 70.32 in 2024, indicating substantial infrastructure progress over two decades.
  • Over the past 21 years, Egypt's infrastructure development, as measured by AIDI, has more than tripled.
  • Nigeria ranks 24th in infrastructure (AIDI) despite having the 4th largest GDP in Africa.
  • In 2024, Nigeria’s AIDI score was 25.70, significantly below peers like Morocco (91.43) and Egypt (82.54).
  • Algeria, with a GDP of $260.13B, achieved a strong AIDI score of 70.32, ranking 8th.
  • The AIDI gap highlights that economic size doesn’t guarantee infrastructure strength, underlining the need for intentional investment.
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Weakest African currencies by annual average official exchange rate (LCU per US$) in 2024
  • Eight East African nations made the list of the top 15 worst African currencies.
  • Somalia has the weakest African currency in 2024, with an exchange rate of 28,118.33 SOS per US$.
  • Guinea, with 8,613.26 GNF per US$, has the second weakest currency, but is still far behind Somalia.
  • Madagascar, Uganda, and Zimbabwe follow, each with exchange rates between 3,200 and 4,500 LCU per US$.
  • Nigeria’s currency traded at 1,478.97 Naira per US$, about 20 times stronger than Somalia's currency.
  • Despite economic turmoil, South Sudan’s currency remained below 2,200 SSP per US$, performing better than Somalia and Guinea.
  • The gap between Somalia and the rest of Africa’s currencies highlights extreme economic pressures unique to the Somali economy in 2024.
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Share of rural and urban population in Nigeria (1950 - 2050)
  • Nigeria's urban population is projected to grow from 9% in 1950 to 70% in 2050.
  • The urban population surpassed the rural population for the first time in 2020.
  • Between 1980 and 2020, Nigeria’s urban population more than doubled, from 22% to 52%.
  • The rural population share is expected to fall sharply from 91% in 1950 to just 30% in 2050.
  • In 2010, Nigeria’s population was still majority rural (57%), but within just a decade, that changed.
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  • Egypt led every single year from 1961 to the most recent year — 63 years of dominance.
  • Egypt peaked at over 10.2 million tonnes in 2009, no other African country came close.
  • As of 2023, Egypt ranked 5th globally, just ahead of Italy and behind the US.
  • Nigeria hit its highest level in 2015, with 4.2 million tonnes.
  • Nigeria was the only country that got within 1.5 million tonnes of Egypt in 13 different years.
  • Countries like Algeria, Morocco, and Tunisia remained consistent but far behind Egypt and Nigeria.
  • Egypt’s lead is backed by large-scale irrigation and strong export systems.
  • In 1987, Africa supplied 11.7% of the world’s tomatoes. But by 2023, its share dropped to 8.8%.
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Key Takeaways:
  • From 2014 to 2023, China’s imports from Nigeria fluctuated significantly, ranging between $907 million and over $3 billion.
  • A sharp 53% drop was recorded between 2014 and 2015, followed by a further decline to a decade-low in 2016.
  • China reached its highest import value in 2021, when it imported over $3 billion from Nigeria.
  • Imports fell by 47% in 2022 but recovered by 48% in 2023, reaching $2.37 billion.
  • The volatility in trade reflects the influence of global commodity prices, especially oil, and evolving bilateral trade dynamics.
  • Mineral fuels, oils, and distillation products accounted for more than 50% of China's imports from Nigeria during the period of study.
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Key takeaways:
  • China led global gold production with 378.16 tonnes, representing approximately 10.4% of global output.
  • The top five producers (China, Russia, Australia, Canada, and the United States) collectively produced 37% of the world’s gold.
  • African nations showed remarkable strength, with four countries in the top 15 (Ghana, Mali, South Africa, and Burkina Faso).
  • Ghana led Africa in gold production and ranked 6th globally, producing 135.11 tonnes in 2023.
  • China, Australia, and Russia together produced nearly 1,000 tonnes of gold, accounting for 27.3% of total world production.
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