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  • With Chinese platforms like Alibaba and AliExpress serving customers across the globe, China's eCommerce sales in 2021 ($2.78 trillion) are larger than the sales in the USA, the UK, and other countries of the top 10 eCommerce markets globally combined.
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    There is a rising concern about the shortage of COVID-19 vaccines in many African countries. Only about 1.3% of the continent's population has been vaccinated against COVID-19. Here are the countries with the highest share of fully vaccinated population as of July 11, 2021.

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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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  • 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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  • 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
 

Between 2000 and 2023, Africa received $182 billion in Chinese loans, primarily for energy and transportation development.

Angola, with 25%, was the largest recipient; Ethiopia, Egypt, Nigeria, and Kenya followed.

While 49 countries benefited, experts warn of increasing debt risks.

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Over the years, Nigeria has seen significant increases in electricity revenue.

Revenue surged from ₦129 billion in 2015 to ₦683 billion in H1 2024, while the number of customers has doubled from 6.5 million to 13 million.

This 428% increase in revenue highlights rising consumption and tariff hikes.

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In 2017, MTN Uganda recorded a 58% increase in profit with only a 9% revenue increase. On average, the telco had an 18.2% yearly increase in profit between 2016 and 2023, while revenue growth was at 9.2% yearly.

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The population of Nigerian-born immigrants in the US has more than doubled in nearly two decades, growing at an average rate of 4.8% per year.

By 2023, the number reached 476k, up from just under 200k in 2006 — a 141% growth.

Nigeria has been leading Africa in immigrant numbers in the US, ranking 22nd globally.

Rising immigrant numbers could strengthen remittance flows back to Nigeria.

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In 2023, the US immigrant (foreign-born) population reached an estimated 47.83 million, a 3.6% increase from 46.18 million in 2022, with Mexico leading as the top country of birth for immigrants, contributing nearly 23% of the total.

India, China, and the Philippines follow, with significant communities from El Salvador, Cuba, and Guatemala.

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Ten states in Nigeria account for 67% of all commercial bank branches. Lagos has over 1,000 branches, while no other state has more than 350. Thirteen states have less than 50 branches each, and Yobe, Ebonyi, and Taraba each have less than 25.

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In H1 2024, Nigeria's FDI accounted for just 2.5% of the country's $5.98 billion total capital imports, down from 14% in H2 2023 and 6.2% in H1 2023.

This highlights a shift towards other capital inflows like portfolio investments.

Portfolio investments rose significantly to $3.48 billion, rebounding from $397 million in H2 2023 and $756 million in H1 2023.

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Nigeria's FDI has dropped significantly. From an average of $417m per quarter (2013-2015) to less than $100m (Q1 2022 - Q2 2024), it hit its lowest ($29.8m) in Q2 2024.

The trend shows declines since 2013, with key fluctuations and a shift in investment priorities.

  • 2013-2015: FDI was mostly above $200 million per quarter, peaking at $769 million in Q4 2014.
  • 2016-2021: FDI mostly stayed under $400 million, with a $531 million spike in Q3 2018.
  • 2022-2024: FDI hit new lows, bottoming out at $48 million in Q1 2023 and falling even further to $29.8 million in Q2 2024 — the lowest in 46 quarters.
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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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MultiChoice Group experienced a 31% decline in revenue from Nigeria in 2024 compared to 2023. Nigeria represented 35% of the group's Rest of Africa (RoA) subscription revenue in 2024, down from 44% in 2023. South Africa's contribution to subscription revenue grew from 56.2% in 2023 to 58.4% in 2024. Meanwhile, Nigeria's share of the total revenue dropped from 18.7% in 2023 to 13.9%.

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India has been the World Bank's largest debtor for over 50 years, with a debt of $38.3 billion as of 2022.

Five Asian nations — India, Indonesia, Bangladesh, Pakistan, and China — owe a combined $111.2 billion, or 27% of the World Bank’s total debt.

Nigeria, Africa's largest World Bank debtor, ranks 10th, with nearly #14 billion in debt.

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Nigeria's debt to the World Bank grew from $182 million in 1970 to nearly $15 billion by 2023 – an 8,100% increase.

Between 2005 and 2023, it rose by 705%, highlighting Nigeria's reliance on World Bank financing for development.

As of Q1 2024, Nigeria owed $15.59 billion, 37% of its external debt.

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Number of smartphone handsets in use around the world (2015 - 2025)
  • From 2.99B in 2015 to 7.42B in January 2025, the world has added more than 4.4 billion smartphone devices in a decade.
  • Annual growth dropped from a high of 23.1% in 2016 to 3.6% in 2025, a clear sign of global market saturation.
  • During 2016-2018, the world added nearly 2 billion new smartphones.
  • Since 2020, annual growth has been under 6%.
  • Most of the future growth will come from device upgrades or multiple device ownership, not necessarily new smartphone users.
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Number of individuals globally using the internet since the creation of the first website (1991 - 2025)
  • Between 1995 and 2000, internet users jumped from 39.4 million to 394 million, a 900% leap that marked the beginning of the digital era.
  • Just 14 years after the first website, over 1 billion people were online, showing how quickly the internet became essential.
  • Between 2010 and 2015, internet usage grew by 54.5%, slower than before but still powerful, especially in developing regions coming online.
  • With 5.6 billion users in January 2025, most of the world is now online, and future growth will be more about improving access, speed, and quality than just connecting new people.
  • Each phase had its catalyst. In the 1990s, it was websites and email. The 2000s brought broadband and Google. In the 2010s, it was smartphones. Now, it's AI, 5G, and IoT that are quietly shaping the future of internet use.
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CAGR of nominal GDP per capita of the top ten African economies (2020 - 2024)
  • At -16.02% CAGR, Nigeria's GDP per capita is shrinking fast, signalling deep economic strain on its population despite being a top 4 African economy.
  • Angola recorded 8.28% CAGR, showing that smaller economies can drive significant per capita progress when policies and investments align with citizen welfare.
  • With 8.23% CAGR, Algeria continues to transform national wealth into measurable benefits for its people.
  • Ethiopia’s 6.86% annual growth in GDP per capita highlights how consistent development efforts can raise living standards even in densely populated, developing nations.
  • A modest 2.52% CAGR for South Africa might not sound like much, but in a mature economy, this reflects resilience and relative stability in per capita income.
  • Egypt has a -1.41% CAGR, showing mild contraction, but far less severe than Nigeria’s economic shrinkage.
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Nominal GDP per capita of top 10 African economies (2024)
  • Despite being among the top 4 economies by size, Nigeria ranks low in GDP per capita, revealing a disconnect between total wealth and individual prosperity.
  • With the highest nominal GDP and highest per capita GDP, South Africa showcases balanced growth and better wealth distribution.
  • Countries like Ethiopia and Nigeria have huge populations, which dilutes their GDP and drags down per capita figures.
  • Though fifth in total GDP, Morocco performs better in GDP per capita, highlighting efficiency in wealth distribution.
  • This proves that a country’s economic “size” doesn’t always translate to individual opportunity, wealth, or standard of living.
  • Economies like Nigeria and Ethiopia must focus not just on increasing GDP but on ensuring that economic growth improves lives at the grassroots level.
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Key Takeaways:
  • The United States exported $318.7 million worth of agricultural products to Nigeria in 2024.
  • Wheat accounted for nearly half of the US' agricultural exports to Nigeria, valued at $148 million.
  • The trade balance substantially favours the United States, with exports to Nigeria ($318.7 million) nearly double imports ($114.7 million).
  • The top three products account for 74.49% of all agricultural exports to Nigeria.
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Key Takeaways:
  • Oilseed meal and cake constituted the United States' largest agricultural import from Nigeria, valued at $29.9 million.
  • Total US agricultural imports from Nigeria in 2024 amounted to $114.7 million.
  • Cocoa beans represented 19% ($21.8 million) of Nigeria's agricultural exports to the US.
  • Oilseed, cocoa, and tea collectively accounted for 59% of the total agricultural exports from Nigeria to the United States.
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