Insights Archive - Page 88 of 99

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WhatsApp Business generated an estimated $39.5 million from Africa in 2023, representing 10.3% of its global revenue.

Estimates from Statista show that Asia was the leading contributor to WhatsApp Business' revenue, with $155.2 million.

Here is a breakdown of WhatsApp Business' revenue by region in 2023.

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Per data from Stockholm International Peace Research Institute, countries in the Americas were the biggest military spenders in 2022, with a combined $961.1 billion in military expenditure — 43% of the global military spending — followed by Asia & Oceania with $574.9 billion. In Africa, Algeria has maintained its top position for years, spending as much as $10.4 billion in 2015. Nigeria's military spending saw a 56% growth in 2021 as it reached $4.5 billion. However, it dropped 44% in 2022, making the country Africa's fourth highest spender.

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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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Inflation
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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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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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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Funding

In the past five years, Nigerian Fintech startups have received the most funding in the startup space, with over $1.01b raised in 2021, the highest in 14 years. Funding for the sector has since reduced following the raise in 2021.

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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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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.

See more

Other Insights

As of 2024, 149 private universities are accredited by the National Universities Commission. Southern Nigeria houses 62%, with the South West leading at 47 universities, while the North East has the fewest, with just 5 (3%).

Education

Bayelsa, Gombe, and Katsina States have the fewest accredited universities — five each — of the 274 in Nigeria in 2024. Ogun leads with 19, followed closely by Abuja (17) and Delta (15).

Participants of the National Open Apprenticeship Scheme by gender (2021 - 2023)

Labour productivity

Participation in Nigeria’s National Open Apprenticeship Scheme has dropped by over 50% since 2021, with male and female enrolments declining significantly; over the years, there have been more female participants. The declining participation rates raise questions about awareness, funding, and programme efficiency. For many Nigerian youths, apprenticeship programmes are a gateway to self-reliance and stable income. The National Open Apprenticeship Scheme is a National Directorate of Employment (NDE) programme that upskills unskilled and unemployed people and equips them with relevant demand-driven skills.

Nomadic primary school enrolment in Nigeria by regions

Education

Nomadic primary school enrolment in Nigeria remains most prevalent in the North West, with over 503,000 children enroled in 2021, significantly higher than any other region. Enrolment numbers have shown gradual improvement across most regions.

Education

Nearly one in two accredited universities in Nigeria is located in the South West or North Central. The South West has the highest number of private and federal universities, with a total of 71 universities, while the North East has the fewest, with 21 universities.