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  • Poverty rate: 87 million Nigerians raise rate to 38.9% in 2023

    Despite various cash assistance programmes, including the Conditional Cash Transfer (CCT) Program, and extensive macroeconomic reforms such as the unification of the exchange rate and the removal of fuel subsidies, poverty in Nigeria rose to 38.9% in 2023, leaving 87 million Nigerians in poverty.

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    With 68% of 80.7k inmates awaiting trial, Nigerian correctional centres have 23.4k (41%) more inmates than their 57.2k capacity. From October 2021 to November 2023, 10.6k inmates have been added to the country's prison population.
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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.

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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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  • Between 2010 and 2022, Nigeria imported 245 billion litres of Premium Motor Spirit (PMS), popularly called petrol, with the highest imports recorded in 2022. Here is the volume of PMS imported into the country in 13 years from 2010.

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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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  • 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.
    See more
Other Insights
Nigeria has generated ₦3.5 trillion in company income tax revenue this year. Foreign companies contributed ₦1.72 trillion (50% of the total), while local companies added ₦1.74 trillion. The Financial and Insurance sector topped the list of local contributors.
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The University of Ibadan remained Nigeria's only university for twelve years before the University of Nigeria, Nsukka, was established in 1960. Eleven universities followed between 1962 and 1975, increasing the number to 13 federal government-owned universities. The first state university was established in Rivers State in 1979, marking the beginning of the displacement of the federal government's ownership monopoly. Six state and nine federal universities were added in the 1980s, with four federal universities added in 1988, the year of the first Academic Staff Union of Universities (ASUU) strike. While state-owned universities have grown steadily, slightly outpacing those owned by the federal government, private universities have displaced both, increasing from three institutions in 1999 to 33 in 2007, 60 in 2015, and 149 in 2024. There are now more private universities than federal and state universities combined.
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Judges and magistrates received the highest average bribe amounts in 2023
In 2023, a staggering ₦721 billion was paid as bribes to public officials in Nigeria, highlighting systemic corruption. Judges and magistrates received the highest average bribe of ₦31,000, reflecting the critical nature of their roles in decision-making processes. Immigration officers followed with an average of ₦17,800, while members of the armed forces received ₦16,600.
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42% of bribe refusers in Nigeria declined due to ethics
In 2023, bribery was increasingly being rejected in Nigeria, with 70% of Nigerians refusing to pay a bribe when asked to. Of these, 42% cited moral beliefs as the primary reason, while 21% opted for alternative methods to achieve their objectives, reflecting a growing resistance to corruption.
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On a regional level, sub-Saharan Africa has the lowest average at 33, among 49 countries, while the Western Europe and European Union region outperforms all regions with an average of 65. The Corruption Perception Index measures the perceived levels of corruption across countries and territories.
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