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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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    Over the past ten years, there has been a rising trend of fraud and forgery cases in Nigerian banks. Although there was an 88% increase in reported cases in 2021, there was a 27% decrease in 2022, resulting in a 221% increase in financial losses of ₦9.5 billion.
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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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    Africa's sanitation crisis is alarming, with 17 of the top 20 countries having the highest open defecation rates.

    Eritrea (67%), Niger (65%), and Chad (63%) lead, putting millions at risk of disease.

    Even Nigeria, the most populous African country, has 18% of its population practising it.

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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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    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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  • 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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  • 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
     
  • Asia and Europe have consistently represented over 70% of Nigeria’s imports since 2013.
  • Asia’s share of imports reached a record 53.5% in H1 2025.
  • Europe contributed 23.1% of total imports in H1 2025.
  • Imports from the American region averaged between 10%–14% over the period.
  • Africa’s import share remained below 10%, showing limited regional trade.
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  • The Netherlands has mostly been the top European import source, with Nigeria averaging 20% of annual imports from the region.
  • Netherlands' highest share of Nigeria's imports was 27.9% in 2018.
  • The United Kingdom consistently contributed around 5–15% of Nigeria’s European imports.
  • Germany’s share remained relatively stable at 5–10% over the years.
  • France, Italy, and Spain maintained smaller shares, mostly under 7%.
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  • Imports have consistently exceeded 85% of Nigeria's manufactured goods trade since 2017.
  • In H1 2025, imports accounted for 93.3% of the total ₦16.5 trillion trade.
  • Nigeria’s export share in the manufactured goods trade was only 6.7% in H1 2025.
  • The highest export share in the past eight years was 14.8% in 2019.
  • Total manufactured goods trade grew from ₦4.9 trillion in 2017 to ₦29.1 trillion in 2024.
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  • Nigeria’s food and beverage imports increased almost ninefold, from ₦0.7 trillion in 2013 to ₦6.6 trillion in 2024.
  • Imports remained relatively stable between 2015 and 2019, averaging around ₦1.1–₦1.6 trillion.
  • A major spike occurred in 2021, when imports surged by 62%, reaching ₦2.9 trillion.
  • Overall, the trend underscores Nigeria’s ongoing challenge of reducing dependency on imported food and beverages despite policies aimed at self-sufficiency.
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  • Nigeria imported a total of ₦60.6 trillion worth of goods in 2024.
  • Fuels and lubricants dominated imports with ₦22.7 trillion (37.4%).
  • Industrial supplies accounted for ₦13.4 trillion (22.1%), showing strong demand for production inputs.
  • Capital goods and parts represented ₦9.1 trillion (15%).
  • Food and beverage imports reached ₦6.6 trillion (10.9%), signalling a high reliance on external food sources.
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  • ECOWAS’s share of Nigeria’s African imports grew to 32.4% in H1 2025, up from 15.0% in 2021.
  • The lowest ECOWAS import share was recorded in 2014 (8.8%), showing significant progress since then.
  • The share of ECOWAS imports has more than doubled since 2021, signalling stronger regional trade ties.
  • Nigeria’s total imports from Africa rose to ₦1.8 trillion in 2025 (H1), indicating expanding trade activity.
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  • The six North-Eastern states collectively owe around ₦450 billion in domestic debt as of Q2 2025.
  • Borno State maintains the lowest debt in the region at ₦22.3 billion, showing signs of controlled borrowing amid post-conflict rebuilding.
  • Bauchi State has the highest domestic debt burden of ₦143.6 billion, accounting for about 31% of the region’s total.
  • The top three states, Bauchi, Taraba and Gombe, collectively account for more than two-thirds of the zone’s total subnational debt stock.
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  • Nigeria paid $816.3 million to the International Monetary Fund, accounting for over 35% of total external debt service payments.
  • Eurobond payments followed closely, with $687.8 million paid, reflecting Nigeria’s heavy reliance on commercial debt instruments.
  • Multilateral lenders like IDA and AfDB collectively received about $463 million, signalling continued exposure to concessional financing.
  • China’s share shrinking: Payments to Chinese lenders (EXIM + CDB) totalled $235.6 million, less than 11% of total outflows, suggesting reduced Chinese debt servicing in H1 2025.
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  • FGN bonds dominated: ₦1.07 trillion went to Federal Government Bonds, accounting for about 63% of total domestic debt servicing.
  • Treasury bills followed: Payments on NTBs reached ₦537.9 billion, making up roughly 31% of the total.
  • Sukuk and promissory notes together cost ₦90.8 billion, reflecting Nigeria’s mix of infrastructure and settlement instruments.
  • Green and savings bonds remained minimal, together below ₦5 billion, showing limited traction for retail and sustainability-focused debt.
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  • China (773M) and India (607M) together make up for about 40% of the world’s total labour force.
  • Nigeria ranks 5th globally with 113 million workers, the largest in Africa and only African country in the top 10.
  • Asia dominates, accounting for over 47% of global workers, highlighting the region’s population and production strength.
  • The U.S.A. (174M) ranks third, representing just about 5% of global labour but producing almost a quarter of global GDP, proving productivity, not size, drives wealth.
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  • The Federal Government’s share of total public debt rose from 79.5% in 2019 to 92.6% in 2025.
  • States’ share has more than halved, from 20.5% to 7.4% in six years.
  • Total public debt grew from $83.9 billion to $99.7 billion, peaking at $113.4 billion in 2023.
  • Nigeria’s debt burden is increasingly concentrated at the centre, amplifying federal repayment risks and reducing fiscal independence for states.
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  • Wealth-building dominates motivation: 45.4% cite “active wealth building” as their primary motive, and an additional 21.8% cite “long-term financial security”.
  • Payments and utility are minor drivers: Only 3.3% report “daily utility” and 2.2% “digital commerce” as their chief motive for using crypto.
  • Hedging and cross-border flows matter: 8.7% use crypto for currency hedging, and 4.1% for cross-border payments, showing a dual role of investment plus international value flows.
  • Nigerian retail users treat crypto like a conventional financial instrument rather than only as a means of payment or speculation.
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  • The Federal Ministry of Information and National Orientation received a total of ₦108.3 billion in the 2025 budget.
  • The National Orientation Agency (₦24.4 billion), FRCN (₦21.5 billion), and NTA (₦21.3 billion) account for over 60% of the total allocation.
  • The National Institute for Cultural Orientation was allocated ₦11.8 billion.
  • Regulatory bodies like ARCON (₦3.8 billion), the Nigerian Press Council (₦3.2 billion), and NBC (₦2.4 billion) received the smallest allocations, suggesting limited funding for oversight functions.
  • A separate ₦8.9 billion was allocated to the Ministry’s headquarters for administrative operations.
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  • The Gambia leads Africa in remittance-GDP ratio, with remittance accounting for 21.1% of its GDP in 2024.
  • Lesotho (20.9%) and Comoros (18.3%) closely follow as highly remittance-dependent economies.
  • Somalia (17.5%) and Liberia (14.3%) also rely heavily on diaspora inflows to support their economies.
  • Nigeria (11.3%) remains a major player, highlighting its strong global diaspora network.
  • Cabo Verde (12.1%) and Senegal (11.6%) demonstrate that remittances are key drivers of income in smaller economies.
  • In larger economies like Egypt (7.6%) and Morocco (8.1%), remittances also make up a significant share of GDP.
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  • Europe ($12.58 trillion), Asia ($11.88 trillion), and the Americas ($11.49 trillion) are nearly tied after 35 years, each capturing roughly a third of global FDI
  • Asia grew from just $25 billion annually in 1990 to consistently attracting $600-700 billion per year, showing the most stable growth pattern
  • Major crises (2001, 2008-09, 2020, and 2022) caused dramatic swings, with Europe even recording negative flows in 2022
  • Africa and Oceania combined received just 6% of total FDI, remaining far behind despite Africa's recent acceleration to $97 billion in 2024
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  • Africa attracted $97 billion in total FDI inflows in 2024.
  • North Africa dominated with $51 billion (52%), remaining the continent’s top foreign investment hub.
  • West Africa ranked second with $15 billion (15.3%).
  • East Africa secured $13 billion (13.3%).
  • Central Africa remained the least favoured, with only $8 billion (8.2%) in FDI inflows.
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  • The naira buys the most in countries like Guinea, Uganda, Burundi, and Malawi, where local currencies have lost value faster.
  • High inflation and unstable monetary systems have eroded the strength of several African currencies.
  • Most of the weakest currencies are in East and West Africa.
  •  The naira’s higher value in these countries does not mean it has fully recovered.
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  • Anambra has the highest intercity transport fare at ₦9,862, exceeding the national average by ₦1,857.
  • Kwara recorded the lowest fare at ₦5,991, a difference of nearly ₦3,900 from Anambra.
  • The national average fare for intercity bus travel stood at ₦8,005 as of July 2025.
  • Imo (₦9,710) and Oyo (₦9,708) followed closely behind Anambra, rounding out the top three highest-fare states.
  • The South West (₦8,570) and South East (₦8,547) were the most expensive regions for intercity bus travel.
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