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  • As of 2022, the top five African countries indebted to the World Bank — Nigeria, Egypt, Ethiopia, Kenya, and Tanzania — accounted for 46% of the continent's outstanding debt with the institution.

    Forty-eight African countries collectively owed around $125 billion, representing 31% of the total global debt of $408 billion. These are the top ten countries from 1970 to 2022.

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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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  • Africa's sanitation crisis is alarming, with 17 of the top 20 countries having the highest open defecation rates.

    Eritrea (67%), Niger (65%), and Chad (63%) lead, putting millions at risk of disease.

    Even Nigeria, the most populous African country, has 18% of its population practising it.

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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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  • 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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  • 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 South East is the only region where the revenue of MDAs (60.9%) exceeded tax revenue (39.1%).
  • Other regions relied more heavily on tax revenue, with the South South leading at 85.25%.
  • The North East and North Central followed closely, with tax contributions of 79.9% and 79.15%, respectively.
  • The South West generated 75.04% of its IGR from taxes, indicating a strong formal revenue structure.
  • The North West maintained a more balanced mix, with 58.54% tax and 41.46% MDAs’ revenue.
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  • Profit Before Tax (PBT) surged 471% from ₦2.15 billion (2020) to ₦12.28 billion (2023); Profit After Tax (PAT) jumped 585% to ₦9.87 billion.
  • Both metrics declined ~11% from the 2023 peak but remained well above historical averages.
  • Effective tax rate fell from 38% (2012) to 20% (2024), allowing the company to retain 80% of pre-tax profits.
  • Absolute tax payments increased from an average of ₦1.01 billion (2011-2020) to ₦2.30 billion (2021-2024), reflecting higher profitability.
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  • The Federal Ministry of Information and National Orientation received a total of ₦108.3 billion in the 2025 budget.
  • The National Orientation Agency (₦24.4 billion), FRCN (₦21.5 billion), and NTA (₦21.3 billion) account for over 60% of the total allocation.
  • The National Institute for Cultural Orientation was allocated ₦11.8 billion.
  • Regulatory bodies like ARCON (₦3.8 billion), the Nigerian Press Council (₦3.2 billion), and NBC (₦2.4 billion) received the smallest allocations, suggesting limited funding for oversight functions.
  • A separate ₦8.9 billion was allocated to the Ministry’s headquarters for administrative operations.
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  • The Gambia leads Africa in remittance-GDP ratio, with remittance accounting for 21.1% of its GDP in 2024.
  • Lesotho (20.9%) and Comoros (18.3%) closely follow as highly remittance-dependent economies.
  • Somalia (17.5%) and Liberia (14.3%) also rely heavily on diaspora inflows to support their economies.
  • Nigeria (11.3%) remains a major player, highlighting its strong global diaspora network.
  • Cabo Verde (12.1%) and Senegal (11.6%) demonstrate that remittances are key drivers of income in smaller economies.
  • In larger economies like Egypt (7.6%) and Morocco (8.1%), remittances also make up a significant share of GDP.
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  • Europe ($12.58 trillion), Asia ($11.88 trillion), and the Americas ($11.49 trillion) are nearly tied after 35 years, each capturing roughly a third of global FDI
  • Asia grew from just $25 billion annually in 1990 to consistently attracting $600-700 billion per year, showing the most stable growth pattern
  • Major crises (2001, 2008-09, 2020, and 2022) caused dramatic swings, with Europe even recording negative flows in 2022
  • Africa and Oceania combined received just 6% of total FDI, remaining far behind despite Africa's recent acceleration to $97 billion in 2024
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  • Africa attracted $97 billion in total FDI inflows in 2024.
  • North Africa dominated with $51 billion (52%), remaining the continent’s top foreign investment hub.
  • West Africa ranked second with $15 billion (15.3%).
  • East Africa secured $13 billion (13.3%).
  • Central Africa remained the least favoured, with only $8 billion (8.2%) in FDI inflows.
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