Insights Archive - Page 79 of 79

Banking
The share of sub-Saharan Africa with bank/mobile money accounts in 2021 is twice what it was in 2011. The proportion of males aged 15 and above with bank/mobile money accounts is also higher than that of females of the same age.

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Agriculture
In 2022, the US exported $631 million worth of agricultural produce to Nigeria, with wheat the biggest export. It accounted for 76% of the exports followed by industrial ethanol (9.3%).

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Cinema
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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Population

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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Economy
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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Wealth

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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Economy

Nigeria's government collected ₦2 trillion in corporate income tax in H1 2023, with a spike from ₦469 billion in Q1 to ₦1.53 trillion in Q2. The corporate tax payments for H1 2023 are higher than any full-year collections from 2015 to 2021.

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Education

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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Cinema
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

President Tinubu's government recently added a new aircraft to the presidential fleet, sparking concerns over rising maintenance costs. From 2017 to 2024, the cost of maintaining Nigeria's presidential air fleet has increased by 366%, jumping from ₦4.4 billion to ₦20.5 billion. The Presidency argues that the new jet will save millions in maintenance and fuel costs.

Remittance

Nigeria, Egypt, and Morocco have consistently led Africa's diaspora remittance, contributing 67% of the continent's total inflows since 2000. In 2023, African nations received $94.78 billion, with Egypt, Nigeria, and Morocco leading. Here are the top ten countries since 2000.

Remittance

Africa's remittance inflow nearly reached $100 billion in 2021, driven by contributions from Nigeria, Egypt, and Morocco, the top recipients on the continent. Growing from $9.7 billion in 2000 to $97.6 billion in 2021, highlights the crucial role of the African diaspora.

top-10-african-countries-by-number-of-medals-won-in-summer-olympics-history-2-66c598118aa14

Sport

Kenya and South Africa dominate Africa's Olympic success, with 46% of the continent's total medals in Summer Games history. Kenya tops the list with 124 medals, while South Africa follows with 95. Ethiopia, Egypt, and Nigeria trail with fewer wins.

Wealth

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.

Health

As of 2022, Libya had the highest dentist availability in Africa. Many top African countries have fewer than 5 dentists per 10,000 people, with several falling below 1, and Nigeria at just 0.2. The WHO recommends at least 2 per 10,000 for adequate care.

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