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  • In its second funding disclosure in 2024, Moove Africa has raised $100 million in a Series B round. The startup has disclosed funding at least twice yearly since 2021 and six times in 2022. The total disclosed funding now totals $444M.

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    Despite the drop in production over the past decade, Nigeria remains Africa's largest oil-producing country. According to data from Trading Economics, it ranked 15th among the world's oil-producing countries as of June 2021. Here are the largest oil-producing countries in Africa:

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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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    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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  • 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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    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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  • In 2023, 7,383 people from Nigeria were issued US immigrant visas, 33% higher than 5,547 in 2022. Visas issued to skilled workers, professionals, and unskilled workers declined by 66%. Here are the US immigrant visas issued to Nigerians in 2023 by visa class.

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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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  • 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

Other Insights
The New World Wealth's Africa Wealth Report for 2023 ranked Lagos 4th among African cities with the most dollar millionaires, below South Africa's Johannesburg and Cape Town, and Egypt's Cairo. Four of the cities in the top ten are South African.
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Figures as of December 2022 show that Nigeria's millionaires decreased by 30% between 2012 and 2022, indicating a significant shift in the dynamics of wealth. Mauritius saw a noteworthy increase of 69%, with Kenya recording a 30% growth.
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Did you know that for every dollar millionaire in Nigeria, there are nearly four in South Africa? Discover the diverse wealth of Africa's landscapes.
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Nigeria imported hair products such as wigs, false beards, eyebrows, eyelashes, and others worth $5.1 million in 2022, with 94.7% coming from China. Here are the countries from which Nigeria imported these products.

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Since 2004, Nigerian employees have saved a cumulative ₦8.4 trillion for their retirement. Employees in the public sector have saved ₦4.4 trillion, while those in the private sector have put ₦4 trillion aside.

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Since 2001, the 2022/23 academic year has recorded the highest number of Nigerians studying in US' higher institutions, adding 3,202 students to the previous academic year to reach 17,640. This represents the biggest addition in the time period.

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Four of the seven African countries that have been certified malaria-free are North African; two are East African and one is Southern African. Here are the countries in Africa that have been certified malaria-free.

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Since 2017, 34% (₦5.8 trillion) of Nigeria's revenue allocation to states has gone to the South South states. This chart shows a snapshot of how allocations vary across regions.

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With about 24.8m people in Nigeria facing acute food insecurity, the country is first on the World Food Programme's list of hunger hotspots in 2023. 11 of the 20 countries on the list are African.
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Impact of flood in Nigeria People displaced and killed in 2022
Flood incidents affected 4.47 million people in Nigeria in 2022, displacing 2.4 million people and resulting in 665 deaths. Though Bayelsa was worst hit with 1.2 million displacements, Jigawa recorded 103 deaths from 68k+ displacements.
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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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In Q3 2023, Nigeria's GDP soared, with almost every sector recording year-on-year growth. Noteworthy growth includes Information and Communication, which increased by 40% compared to Q3 2022. Check out the chart for a quick overview.

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66% of fraud in 2023 was committed using social engineering
In 2023, 66% of fraud cases were committed using social engineering, the most common technique. Mobile channels accounted for 50% of fraud, followed by web channels (23%) and POS channels (18%). Technique: How the fraud is committed. Channel: Where the fraud is committed. Techniques refer to the methods fraudsters use to deceive victims, and Channels refer to the platforms through which the fraud is carried it.
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The cost of bus fares for intracity journeys rose by 98% after the fuel subsidy removal, with a 39% increase in just 18 months
After the fuel subsidy was removed, the cost of bus fares for intracity journeys rose by 98% between May 2023 and June 2023. In just 18 months, fares increased by 39%  significantly affecting commuters.
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AI Preparedness Index by regions
Nigeria and other sub-Saharan African nations still lag in AI readiness, scoring 0.34 on the AI Preparedness Index. This shows the need for more investment, better infrastructure, and a willingness to embrace the AI revolution. The AI Preparedness Index measures the level of AI readiness across 173 countries and 13 regions. It evaluates factors such as digital infrastructure, workforce skills, innovation, economic policies, and ethical regulations. Note: Scores range from 0 to 1, with 1 being the most prepared.
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Lassa fever cases and deaths (2020 - 2024)

Lassa fever cases and deaths have shown significant variations over the years, but the death rate decreased in the first ten months of 2024 despite rising in 2023. This downward trend reflects improvements in early detection, medical interventions, and public health measures.

For many communities across Nigeria, Lassa fever remains a serious health concern, especially in rural areas with limited access to healthcare facilities. As efforts to combat the disease intensify, public awareness campaigns, proper hygiene, and access to treatment have played a vital role in reducing fatalities and giving hope to affected families.

Note: Data for 2024 only include the first ten months of the year

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The cost of a healthy diet in Nigeria rose by 91% in 11 months
The Cost of a Healthy Diet (CoHD) represents the most affordable combination of locally available foods that meet global dietary standards for a balanced diet, excluding transportation and meal preparation costs. In Nigeria, the CoHD surged by 91%, rising from ₦703 in October 2023 to ₦1,346 in September 2024. This sharp increase underscores Nigerians' escalating financial challenges in maintaining a nutritious diet.
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40% of NELFUND’s disbursed tuition loans were sent to institutions in the North West
The Nigerian Education Loan Fund (NELFUND) disbursed tuition loans to 58 institutions, with the South West region accounting for 20 institutions. The South South and South East regions had the fewest beneficiaries, with only five institutions each.
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