Bite-sized Insights about
 
Providing you with data-based insights about things happening around you.
Popular Insights
  • Nigerians spent ₦56.6 million last weekend seeing two blockbuster movies — #Barbie and #Oppenheimer. Popularly called Barbenheimer, they were released simultaneously on July 21, 2023. Barbie made 129% more than Oppenheimer in their first weekend.

    See more
    Africa's producers of natural rubber in 2022
    Côte d'Ivoire has maintained its title of Africa's largest producer of natural rubber, increasing production by an average of 13% annually. Nigeria was Africa's largest producer of natural rubber in the early 90s until Côte d'Ivoire took the top spot in 1999. As of 2022, its production capacity was 8.6x more than Nigeria's. In 2022, Côte d'Ivoire produced 1.286 million tonnes of natural rubber; Nigeria and Ghana followed with 149.4 thousand tonnes and 117 thousand tonnes, respectively.
    See more
  • 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.
    See more
    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
  • 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.

    See more

    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.

    See more

  • Data from Nigeria's National Bureau of Statistics shows that the Federal Allocation Account Committee (FAAC) disbursed at least ₦32.8 trillion net to the 36 states and the FCT since 2011.

     

    Five of Nigeria's oil-producing states — Delta, Akwa Ibom, Rivers, Bayelsa, and Lagos — have received 33.7% of the country's net federal allocation since 2011, with Delta State receiving the most. Kano, Katsina, Borno, Kaduna, and Ondo complete the top ten.

    See more
  • 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.

    See more
  • 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.
    See more

Other Insights

Revenue from voice is still the largest contributor to Airtel Africa's revenue between 2019 and 2023 however its share of the revenue has been on a steady decline. Voice went from accounting for 60.97% of the total revenue in 2018, to 46.16% in 2023. The share of revenue from data and Airtel Mobile have been on a steady rise since 2020.

See more

Just like Nigeria, Tanzania has more mobile subscriptions than its population. As of December 2023, Nigeria had a teledensity of 103.66%. With a population of 67.4 million as of 2023, the East African country had 70.3m telecom subscriptions, up from 32 million in 2014.

See more

In January 2024, the communications authority in Zimbabwe warned against using Starlink Internet Services. The Southern African country has less than 100k subscribers on Fibre and Fixed LTE each. At the same time, a significant portion of its citizens rely on mobile Internet, with 10.97 million subscriptions as of 2023 in a country with 16.67 million people.

See more

Canada granted permanent residency to 471.8k individuals in 2023, with Indian citizens leading with nearly 30% of the total.

Nigeria (3.7%), Cameroon (2.5%), and Eritrea (2.3%) were in the top ten recipients.

 

 

See more

After growing from 1.5% in 2015 and peaking at 5.1% in 2022, Nigeria's share of Canadian permanent residency status issuances dropped to 3.7% in 2023.

This is Nigeria's share of Canadian permanent residency status issuances since 2015.

See more

Nigerian academic IELTS test takers scored an average of 6.7 out of 9 in 2022, placing the country joint 5th globally with Ghana, Hong Kong, and Indonesia. Spanish academic IELTS test takers topped the list with an overall score of 7.1.

See more
Over the years, the value of the Zimbabwean Dollar (ZWL) has been on a massive downward trend compared to the US Dollar (USD). This has led to the latter accounting for most of the domestic transactions in the Southern African country. The ZWL went from 10,152.5 to USD 1 as of January 1, 2024, to 30,674.3 on April 1, 2024. The Reserve Bank of Zimbabwe is introducing a gold-backed digital currency as a legal tender to stabilise its currency.
See more

In 2023, Nigerian students emerged as the third-highest recipients of Canadian study permits, behind India and China.

This marked a jump from their fifth position in 2022, when 16,105 study permits were issued to its citizens.

India maintained its position as the top source country, followed by China. The Philippines, Nepal, and France retained their places in the top ten.

See more

Compared to 2022, there was a remarkable surge of 133.7% in the issuance of Canadian study permits to Nigerians in 2023. After experiencing a decline in 2020 (-22%), the number of Nigerian study permit recipients rebounded strongly.

Globally, the issuance of Canadian study permits witnessed an increase of 24.6%, climbing from 548,610 in 2022 to 683,585 in 2023.

See more

Nigeria’s electricity distribution companies (DISCOs) generated ₦1.07 trillion revenue in 2023 — double 2020's amount and 3.8x that of 2015. From 2015 to 2023, revenue has grown from ₦279b to ₦1.07t, while customer base has increased by over 5m, from 7m to 12.1m.

See more

After peaking at ₦5.69b in 2021, Nigeria's railway revenue from passengers has fallen for two consecutive years, dropping to ₦4.43b in 2023. Cargo revenue, on the other hand, reached its highest (₦1.08b) in 2023.y revenue from passengers has fallen for two consecutive years, dropping to ₦4.43b in 2023. Cargo revenue, on the other hand, reached its highest (₦1.08b) in 2023.

See more

Newzoo, a provider of video game and gamer data, reported that in 2023, Nigerian mobile gamers spent approximately $229.7m — the highest expenditure in Africa — boasting a sizable 14.7m spenders.

Egypt's gamers spent an estimated $212.6m and occupied second place in Africa's mobile gaming expenditure ranking.

See more
1 58 59 60 61 62 78
Market share by mobile phone generation (2024)
  • 2G is still widely used but has dropped significantly from 57.78% in January to 41.59% in December.
  • 4G has become the dominant mobile network in Nigeria, surpassing 2G by mid-2024 and maintaining a steady increase in market share.
  • 3G remains stable, averaging around 9% market share,
  • 5G adoption is slow but rising, increasing from 1.11% in January to 2.46% in December.
Read more
Forms of economic cost of violence (2023)
  • The world spent $19.1 trillion on violence in 2023, accounting for 13.5% of global GDP.
  • Military and internal security spending make up 74% of this cost.
  • Homicides alone cost the global economy $1.34 trillion, highlighting the economic toll of crime beyond loss of life.
  • Private security is now a $1.15 trillion industry, as businesses and individuals invest heavily in safety.
  • Violent crime resulted in $760 billion in economic losses, affecting productivity, businesses, and legal systems worldwide.
  • Spending on security competes with development needs, diverting resources from education, healthcare, and infrastructure.
  • The cost per person globally is $2,380, illustrating how violence impacts individuals, not just governments or corporations.
Read more
  • Instant messaging leads with 94% usage, reflecting its role as the primary communication tool for Nigerians.
  • Social media is used by 91% of mobile internet users, but only 65% engage with it for business purposes, showing its dominance in personal interactions.
  • Online voice and video calls are highly popular, emphasising a shift toward real-time digital communication.
  • Only 45% access government services, while 41% use online health platforms, indicating gaps in essential digital services.
  • Agriculture-related internet use is the lowest at 25%, highlighting the rural digital divide and limited online resources for the sector.
Read more
  • Heritage Bank emerged from the ashes of Société Générale Bank Nigeria (SGBN), which lost its license in 2006.
  • The bank rebranded and re-entered the market in 2012, later acquiring Enterprise Bank in 2014 to expand its reach.
  • Despite its growth, financial instability and poor loan performance plagued its operations.
  • By 2021, it recorded a staggering 81.2% non-performing loan (NPL) ratio.
  • Regulatory pressures mounted, leading to the revocation of its banking license in June 2024.
Read more
  • Bank PHB was among the banks flagged in the 2009 CBN/NDIC audit for capital inadequacy and governance failures.
  • Despite regulatory interventions, it failed to recapitalise by the September 30, 2011 deadline, leading to its license revocation.
  • The CBN and Nigeria Deposit Insurance Corporation (NDIC) established Keystone Bank as a bridge bank to take over Bank PHB’s assets and liabilities.
  • The Asset Management Corporation of Nigeria (AMCON) managed Keystone Bank until 2017, when it was sold to private investors.
  • The bank later divested from its international subsidiaries, focusing on the domestic market.
  • In 2024, the CBN dissolved its board, signalling ongoing financial and governance concerns.
Read more
Key takeaways:
  • The top 11 nations accounted for 73% of the total asylum seekers in 2024, with each nation contributing more than 100,000 asylum seekers.
  • Venezuela (620,074) ranks first as the source country with the most asylum seekers in 2024.
  • Latin American countries dominate the top 11 list, with eight out of the eleven countries originating from the region.
  • Asian countries (China and India) make up a smaller share of the leading asylum-seeking populations.
  • Venezuela is the sole country of origin with an asylum seeker count exceeding 600,000 in 2024.
Read more
1 58 59 60 61 62 156

Can’t find what you’re looking for? Please fill the form below
Contact Form Demo
SIGN UP TO OUR NEWSLETTER
Get periodic updates about the African startup space, access to our reports, among others.
Subscribe Here
Subscription Form

A product of Techpoint Africa. All rights reserved