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  • top rice producing countries for 2024
    • 1990-2000: In this decade, China and India accounted for over 50% of the world's total output, with other dominant rice producers being Indonesia, Vietnam, and Bangladesh, with production figures falling between 20 and 30 million metric tons.
    • 2001-2010: China and India remained the two top producers, with China producing 140 million metric tons annually and India 100 million metric tons annually. 
    • 2011-2020: China and India continue to lead at about 150 million and 105 million metric tons, respectively. 
    • 2021-2024: China and India continued to lead. China reached 144.62 million metric tons in 2023/2024, and India accounted for 137.83 million metric tons.
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    Five of the top tep African countries with the largest gold reserves are North African

    Half of the top 10 African countries with significant gold reserves come from North Africa, with Algeria leading with 174 tonnes. Egypt and South Africa come in second and third with 126 tonnes and 125 tonnes, respectively. Algeria, Egypt, South Africa, and Libya hold the most significant gold reserves.

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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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  • 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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  • 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
 
  • Private sector credit growth peaked at 13.5% in Q4 2023.
  • Growth remained stable between 12 and 13% throughout 2022 and 2023.
  • A sharp decline began in 2024, dropping to 11.5% in Q1.
  • Credit growth plunged to 5.4% in Q2 2024, showing a steep contraction.
  • The lowest point was Q4 2024, at just 0.9%.
  • A rebound started in early 2025, with growth rising to 2.4% in Q1.
  • By Q2 2025, private sector credit growth recovered to 4.4%, though still far below its 2023 highs.
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  • Private households hold the largest share of credit at 27.8%.
  • Trade accounts for 14.4% of outstanding private sector loans.
  • Manufacturing makes up 12.3% of the private sector credit share.
  • Combined, households, trade, and manufacturing absorb 54.5% of all private credit.
  • Consumer durables contribute 9.4% of outstanding loans.
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  • Nearly three-quarters of all startup funding in Africa came from equity financing at 74.1%.
  • A significant 25.2% of funding was raised through debt, showing increasing reliance on loans and credit.
  • Only 0.7% of startup funding came from grants, reflecting limited non-dilutive capital support.
  • The high share of equity signals sustained investor belief in Africa’s startup ecosystem despite global headwinds.
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  • The financial services sector attracted the largest share of funding at $806.3m, accounting for more than 40% of total startup investment.
  • Renewable energy secured $377.1m, showing strong investor appetite for sustainable solutions in Africa.
  • Telecommunications raised $316.0m, while mobility & logistics brought in $222.8m, highlighting infrastructure-driven growth.
  • Electric vehicles ($87.9m), e-commerce ($50.3m), and crypto/blockchain ($35.3m) attracted meaningful investments, signalling diversification beyond traditional sectors.
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  • ₦7.88 trillion worth of manufactured goods made up 51.6% of imports, underscoring Nigeria’s dependence on foreign industrial products.
  • Other petroleum oil products accounted for ₦2.79 trillion (18.2%) of imports, showing continued reliance on external energy supplies despite Nigeria’s oil-rich status.
  • ₦1.72 trillion in raw material imports (11.3%) highlights the gap in local processing capacity.
  • Solid minerals (₦70.9 bn, 0.46%) and energy goods (₦150 mn, almost 0%) show almost no role in imports.
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  • Total trade in Q2 2025 was valued at ₦38.04tn.
  • Imports accounted for ₦15.29tn, led by manufactured goods and petroleum products.
  • Exports reached ₦22.75tn, boosted mainly by crude oil.
  • The trade gap favoured Nigeria with a surplus of ₦7.46tn.
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  • Osun’s Internally Generated Revenue (IGR) grew from ₦11.78b in 2015 to ₦54.70b in 2024, marking a 364% increase.
  • The state maintained steady annual growth after 2017, with notable acceleration from 2020 onward.
  • The single biggest leap occurred between 2023 and 2024, with revenue nearly doubling from ₦27.72b to ₦54.70b.
  • The upward trend reflects improved tax collection, diversification of revenue sources, and stronger fiscal policies.
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  • English dominates globally with 1.5 billion speakers, nearly 300 million more than Mandarin Chinese.
  • Asian languages are highly represented, with Mandarin, Hindi, Arabic, Bengali, Indonesian, Urdu, Japanese, Marathi, Vietnamese, Telugu, and Turkish making up over half of the top 20.
  • Spanish and French stand out as major global languages, reflecting both native speakers and strong international adoption. African languages are emerging on the global stage, with Nigerian Pidgin (120.7M) and Hausa (94.4M) among the top 20.
  • The gap between top and bottom languages in the ranking is wide. English has over 15 times more speakers than Turkish, which closes the top 20 list.
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  • Comoros stands out with a corporate tax rate of 50%, the highest on the continent and far above the regional norm.
  • Chad and Equatorial Guinea follow at 35%, while Morocco and Cameroon set rates at 33%.
  • A broad cluster of 17 African countries, including Nigeria, Ethiopia, Kenya, and South Sudan, hold steady at the 30% rate.
  • All other African economies not listed apply corporate tax rates below 30%.
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  • South Africa sets the benchmark with the fastest average download speed (42.42 Mbps), more than double Morocco’s (19.61 Mbps).
  • Southern African countries dominate the top half of the ranking, with South Africa, Eswatini, Botswana, Lesotho, and Madagascar all featuring strongly.
  • Rwanda and Mauritius show East Africa’s progress, with average speeds above 30 Mbps, signalling solid digital infrastructure growth.
  • Wide disparities persist, with the gap between the highest (South Africa) and lowest (Morocco) averaging over 22 Mbps.
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  • Sudan sits at the bottom with an average speed of 4.02 mbps, far below the continental average.
  • The Central African Republic follows closely at 4.08 mbps, making Central Africa a weak spot for digital connectivity.
  • Somalia, despite topping the list, averaged only 6.64 mbps, showing even the “fastest among the slowest” remains well behind global standards.
  • The concentration of slow speeds in East and Central Africa points to persistent infrastructure and investment gaps.
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  • South Africa is the clear leader, recording a bond market volume of $328.8 billion and 2,952 issuances, far ahead of all other African economies.
  • Egypt and Morocco follow as strong contenders with bond volumes of $188.8 billion and $116.4 billion, respectively, though both trail South Africa by wide margins.
  • Côte d’Ivoire, Algeria, and Nigeria represent the mid-tier, each exceeding $65 billion, showing notable regional financial activity.
  • Smaller markets like Tunisia and Angola feature relatively lower volumes ($16.9 billion and $28.4 billion) but maintain significant issuance activity.
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  • The South West (₦8.3m) far surpasses all regions in monthly revenue, reflecting Lagos’ dominance as Nigeria’s commercial hub.
  • The South South (₦831k) and South East (₦605k) trail far behind but still outperform the northern regions.
  • The North East (₦562k) and North West (₦479k) show significantly lower average revenues.
  • The North Central (₦241k) records the weakest average, underlining stark regional disparities.
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  • Only 12.1% of entrepreneurs are aged 18–25, showing limited entry among very young adults.
  • The largest groups are 26–35 (33.3%) and 36–45 (33.8%), together accounting for two-thirds of entrepreneurs.
  • Mid-life representation: 14.6% are aged 46–55.
  • Just 6.2% are 56 and above, indicating fewer older adults start or run MSMEs.
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  • 48.8% of MSMEs earn less than ₦100,000 monthly.
  • 19.5% report revenues between ₦100,000 and ₦199,900.
  • The share of businesses decreases steadily in the ₦200,000–₦999,900 bands, ranging from 9.3% to 6%.
  • Only 8.8% of MSMEs earn above ₦1 million monthly, with just 0.4% exceeding ₦100 million.
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  • Mauritius leads Africa with the highest GII score (32.5), ranking 53rd globally out of 139 countries.
  • North Africa dominates the top 5, with Morocco and Tunisia both strong performers.
  • Sub-Saharan Africa’s bright spots include South Africa, Seychelles, Botswana, and Senegal.
  • Nigeria is 105th globally (21.1), highlighting Africa’s uneven innovation capacity.
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  • At independence in 1960, Nigeria contributed about 10% of Africa’s GDP, establishing itself early as one of the continent’s largest economies.
  • Nigeria’s share peaked at 31% in 1981 during the oil boom, highlighting the dramatic impact of natural resources on the economy.
  • Between the mid-1980s and 2000s, Nigeria’s share fluctuated significantly, dropping to 9.2% in 1999 due to political instability, economic mismanagement, and external shocks.
  • By 2024, Nigeria’s share fell to 7.1%, despite a GDP of $187.8 billion, showing slower relative growth compared to other African economies and the ongoing need for economic diversification.
  • This share reflects Nigeria’s relative position in Africa’s economy over time, showing how it moved in relation to the growth of the rest of the continent.
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  • After yielding 61.9 million tonnes, yams were valued at $25.4 billion in 2023, the highest among reported commodities.
  • With 62.7 million tonnes produced, cassava generated $9.1 billion, making it the second most valuable crop.
  • Okra ($818/t), tomatoes ($808/t), and pineapples ($753/t) earned the highest returns per unit despite smaller volumes (1.6–3.8 million tonnes).
  • Maize ($3.7 b, 11.1 m t), rice ($3.1 b, 8.9 m t), sorghum ($2.3 b, 6.4 m t), cowpeas ($1.2 b, 4.3 m t), and groundnuts ($0.9 b, 4.3 m t) form the backbone of production.
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