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  • African countries dominated the list of top diamond producers, with 11 of them among the top 14 in 2022. Russia tops the list with a production of 41.9 million carats, followed by Botswana, which produced 24.5 million carats. Here are the top diamond-producing countries in 2022.
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    The Petroleum Industry Bill passed in July 2021 is expected to transform the oil and gas industry. Nigeria's oil production dropped from 2.1m barrels per day in 2019 to 1.798m barrels per day in 2020. Here's a representation of the country's oil production over the years:

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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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  • 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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  • Cocoa beans are a vital commodity for many countries, driving their economies and supporting livelihoods. Over the years, cocoa production has seen significant fluctuations across different countries.

    The world's cocoa-producing countries produced 104.2 million tonnes of cocoa beans between 2000 and 2022, enough to fill about 2.084 billion 50kg bags. Côte d'Ivoire maintains its dominance, accounting for 35.3% of global production in the 23 years under review, with Ghana (16.5%), Indonesia (15.4%), and Nigeria (7.7%) completing the top four.

    These are the top ten countries in the period.

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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.

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Other Insights
21% of the ₦17.67 billion lost to fraud in 2023 was recorded in October totaling ₦3.76 billion
 
Fraud data submitted to the Nigeria Inter-Bank Settlement System by financial institutions in 2023 reveals that customers lost ₦17.67 billion across 95,630 cases, with the highest loss of ₦3.76 billion occurring in October 2023
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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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