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  • Twelve Nigerian banks listed on the Nigerian Exchange Group (NGX) reported a total profit of ₦3.42 trillion in 2023, with all banks making a profit and seeing increases from 2022. The top four banks — Zenith Bank, Access Holdings, UBA, and GTCO — contributed 71% of this amount. Zenith Bank saw a 202% increase from the previous year and led the way with ₦676.9 billion, while Access Bank recorded the highest increase in profits (307%). Jaiz Bank made the least profit (₦11.2 billion) followed by Sterling Bank (₦21.6 billion) and Wema Bank (₦36 billion).

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    In Q4 2023, Spectranet maintained its top position as Nigeria's biggest internet service provider with nearly 114k active subscribers, holding 43% of the market share. FiberOne followed with 10% of the market.

    Starlink increased its subscriber base by 113% to claim the 3rd position with 9% of the market.

    Here are Nigeria's top internet service providers by active subscribers in Q4 2023.

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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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    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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  • 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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    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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  • 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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  • 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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Other Insights
Global active LinkedIn users by region as of January 2025
  • North America holds the largest LinkedIn audience globally, with 277 million users.
  • All African regions combined have fewer users than North America alone—3.3 times fewer, to be exact.
  • Nigeria is one of Africa’s leading LinkedIn countries, with 11 million users as of January 2025.
  • The Caribbean and Central Asia have the lowest usage, with 6.5 million and 3 million users, respectively.
  • Africa’s total user base remains modest despite a large, youthful, and growing workforce.
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Key takeaways:

  • MTN continuously received the most ported-in subscribers, particularly from 2023 to 2025.
  • MTN ported-in subscribers increased from 616 in June 2021 to 5,551 in January 2025.
  • Airtel subscribers from other networks expanded from 360 to 2,414 port-ins (567%) throughout the same period.
  • Airtel experienced significant growth in August-September 2024 and January 2025, with over 2,000 port-ins monthly.
  • Globacom's performance remained low, with fewer than 1,000 port-ins throughout the period.
  • The high number of subscribers switching to MTN indicates a stronger customer preference for MTN, most likely owing to perceived quality or promotional incentives.
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Nigeria’s average daily fuel consumption in litres (2015 - 2024)
  • Nigeria’s daily fuel consumption peaked at 66.7 million litres in 2022.
  • Fuel consumption fell to 47.5 million litres in 2023 after the subsidy removal.
  • Consumption rebounded slightly to 51.8 million litres in 2024, but remains far below 2022 levels.
  • Between 2015 and 2022, consumption grew from 48.7m to 66.7m litres daily.
  • 2021 saw a notable increase to 61.9m litres, likely due to economic recovery post-COVID.
  • The lowest recorded consumption in the 10-year period was 47.5m litres in 2023.
  • The post-subsidy dip marks the largest single-year decline in consumption within the observed period.
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Bitcoin’s market capitalisation, monthly average (Jan. 2016 - Jan. 2025)
  • Bitcoin’s market cap grew from $6B in 2016 to $2T in 2025 — a 337x increase.
  • In 2021, Bitcoin’s market value peaked at $1.1T before reaching $1.2T in 2022.
  • Bitcoin experienced a sharp drop to around $525B in 2023.
  • Its recovery was strong in 2024, with the market cap rising again to $1.4T.
  • Despite periodic dips, the long-term chart shows a consistent upward growth trend.
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Nigeria’s estimated population share by generation (as of Jan 2025)
  • Gen Z and Millennials combined make up just over half of Nigeria’s population at 50.1%.
  • Gen Alpha alone represents 35.6% of the total population — the single largest generational cohort.
  • Gen Z, born between the late 1990s and early 2010s, accounts for 25.8% of Nigerians.
  • Millennials make up 24.3%, maintaining a strong influence across work, culture, and consumer trends.
  • Gen X, typically born between 1965 and 1980, represents only 9.2% of the population.
  • Older generations (Baby Boomers and Silent Generation) account for just 5.1% of the total population.
  • Nigeria’s entire population under the age of 44 (Gen Alpha, Gen Z, and Millennials) represents approximately 85.7% of the total population.
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Share of women members of the national parliament (upper and lower chambers), African top and bottom 10 countries (2024)
  • Rwanda leads Africa in female parliamentary representation with 61.3% women in its national legislature.
  • Nigeria has the lowest representation of women in parliament across the continent at just 4.3%.
  • South Africa and Cabo Verde also boast high female parliamentary shares, with 44.7% and 44.4% respectively.
  • Four of the top 10 countries have more than 40% women in their national assemblies.
  • Only five countries in the bottom 10 have over 10% female representation.
  • The gap between the top and bottom countries is massive: a nearly 57-percentage-point difference between Rwanda and Nigeria.
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All-time most popular TV shows (non-English-language content) by the number of views in their first 91 days on Netflix, global top 10
  • Squid Game (Seasons 1 and 2) dominates with 457.8 million combined views, securing the top two spots globally.
  • Money Heist appears three times on the top 10 list—Parts 3, 4, and 5—with 285.2 million combined views.
  • France’s Lupin makes a strong showing, with Part 1 and Part 2 totalling 167.9 million views.
  • The top 10 list spans shows from Korea, Spain, France, Mexico, and Colombia, indicating Netflix’s successful global strategy.
  • Latin American thrillers like Who Killed Sara? and La Palma feature prominently, proving demand for drama-rich storytelling.
  • All shows on the list surpassed 50 million views each in just 91 days, showing rapid global consumption patterns.
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All-time-most-popular-movies-non-English-language-content-by-the-number-of-views-in-their-first-91-days-on-Netflix-global-top-10
  • Troll leads with 103 million views, making it the most-watched non-English movie on Netflix in its first 91 days.
  • Under Paris follows closely with 102.3 million views, proving France's influence in Netflix's global content slate.
  • Society of the Snow (98.5M) and Nowhere (85.7M) show how survival and human drama resonate deeply with audiences worldwide.
  • Dystopian themes remain popular, with The Platform (82.8M) drawing strong viewership through intense, minimalist storytelling.
  • Five out of the top 10 movies pulled in more than 80 million views each, highlighting a huge appetite for international cinema.
  • Latin America and Europe dominate the list, with films from Spain, France, and Norway also attracting global attention.
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All-time most popular movies (English-language content) by the number of views in their first 91 days on Netflix, global top 10
  • Red Notice leads with 230.9 million views in 91 days, making it the most-watched English-language Netflix movie to date.
  • Carry-On and Don’t Look Up are close, with 172.1M and 171.4M views respectively.
  • Five of the top 10 movies surpassed 150 million views within their first 91 days on the platform.
  • The Adam Project and Bird Box are tied closely, each drawing around 157 million views.
  • Back in Action and Leave the World Behind also made strong entries with over 140 million views each.
  • The entire top 10 showcases a mix of action, sci-fi, family, and thriller genres, proving Netflix’s broad appeal across demographics.
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All-time most popular TV shows (English-language content) by the number of views in their first 91 days on Netflix, global top 10
  • Wednesday (Season 1) tops the list with 252.1 million views, by far the highest ever for an English-language Netflix series.
  • Stranger Things 4 follows at a distant second with 140.7 million views in the same 91-day window.
  • The limited series Adolescence secured third place with 137.8 million views
  • Monster: The Jeffrey Dahmer Story also performed strongly, gathering 115.6 million views.
  • Bridgerton Seasons 1 and 3 made the list, emphasising the franchise’s popularity.
  • Three of the top 10 shows had under 100 million views, with Stranger Things 3 closing the list at 94.8 million.
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Key Takeaways:

  • South Africa has been the leading wine producer in Africa from 1975 to 2022.
  • Algeria was the top producer from 1961 to 1974 but saw a significant decline in output in later years.
  • South Africa, Algeria, Morocco, and Tunisia have been the dominant wine-producing countries in Africa between 1961 and 2022.
  • On average, eight African countries have engaged in wine production annually during this period.
  • Sub-Saharan nations such as Zimbabwe, Ethiopia, and Tanzania have contributed small but steady wine to Africa’s production in recent decades.
  • Egypt has consistently ranked among Africa’s top wine producers, with its highest production recorded in 2008.
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Key takeaways:

  • As of January to June 2025, Nigeria had nine operational refineries.
  • Dangote Petroleum Refinery is the largest, with a capacity of 650,000 barrels per day (bpd).
  • The total combined capacity of all functional refineries is almost 975,000 bpd.
  • Government-owned refineries, Warri, Kaduna, and Port Harcourt (old), collectively have a capacity of 295,000 bpd.
  • Out of 27 licensed refineries by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), only nine were operational during this period.
  • Other operational refineries such as Aradel, OPAC, Edo, Waltersmith, and Duport Midstream collectively have a capacity of 29,500 bpd.
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Key Takeaways:
  • The Nigerian subscribers' preference trend shows their acceptance of faster networks.
  • 2G's market share dropped significantly from 58.36% in May 2023 to 39.67% in April 2025.
  • 4G adoption rose steadily from 25.06% to 49.27% within the same period.
  • 5G adoption increased by nearly 23-fold from 0.12% to 2.81%, showing the strongest growth rate in the same period.
  • A major transition occurred around May 2024 when 4G adoption jumped from 34% to 43%.
  • 3G gradually declined from 16.46% in May 2023 to 8.25% in April 2025.
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Key Takeaways:
  • Despite substantial net interest revenue (₦2.2 trillion), CBN saw a significant loss of ₦1.15 trillion in 2023.
  • From 2017 to 2019, the bank reported negative net interest income while maintaining profitability.
  • In 2024, profits increased marginally to ₦38.8 billion, following a significant decrease in 2023. 2021 and 2022 were recovery years, with considerable increases in both net interest and profits.
  • Profit decreased by nearly 68% from ₦123 billion (2015) to ₦39 billion (2024).
  • Profit after tax was typically positive, with the exception of 2023, when the institution suffered a significant loss, likely due to naira redenomination.
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Earnings per share of listed agricultural companies in Nigeria (2024)
  • Livestock Feeds Plc surged from a -₦0.08 loss per share to ₦0.64 EPS, marking a 900.0% improvement—the biggest turnaround in the sector.
  • Presco Plc posted ₦63.46 EPS in 2024, nearly doubling its previous year’s ₦32.41.
  • Okomu Oil Palm rose from ₦21.64 to ₦41.89, showing a 93.6% year-on-year growth.
  • FTN Cocoa Processors reduced its loss marginally, from -₦2.70 to -₦2.44, a 9.6% improvement.
  • The top two companies by EPS (Presco and Okomu) are significantly outperforming their peers.
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Number of listed companies in Nigeria by sector (2025)
  • Financial Services account for 29.93% of all listed companies, far ahead of any other sector.
  • Services and Consumer Goods sectors each have 20 listed companies, showing strong competition for second place.
  • Industrial Goods (13 companies) and Construction/Real Estate (10 companies) round out the mid-tier listings.
  • The ICT sector has only 8 listed companies, despite being central to digital transformation in Nigeria.
  • Oil and Gas (8) and Healthcare (7) reflect moderate participation in the public markets.
  • Agriculture has just 5 listed firms, despite being one of Nigeria’s largest employers—suggesting a capital access gap.
  • The utilities sector is the least represented sector, with only 2 listed companies.
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Age of currently listed Nigerian PLCs (Date incorporated to May 2025)
  • Royal Exchange is Nigeria’s oldest listed PLC at 104 years, incorporated on February 28, 1921.
  • Unilever (101 years) and UAC Nigeria (94 years) follow closely behind, cementing their status as legacy multinationals.
  • Greif Nigeria (85 years) and May & Baker Nigeria (81 years) show enduring pharmaceutical and industrial presence.
  • Wema Bank is the oldest bank on the list at 80 years, showcasing longevity in financial services.
  • Consumer goods dominate the list, with companies like PZ Cussons, Nigerian Breweries, and Guinness all exceeding 75 years.
  • Four companies (Chellarams, PZ Cussons, Thomas Wyatt, and Nigerian Breweries) were all incorporated 77-78 years ago, pointing to a cluster of post-WWII business growth.
  • The youngest on the list—RT Briscoe—is still 68 years old, proving that listing longevity is no accident but a product of strategic resilience.
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Key Takeaways:
  • CBN’s total assets increased from ₦14 trillion in 2013 to ₦117.6 trillion in 2024.
  • Total liabilities followed a similar upward trend, reaching ₦116.6 trillion in 2024.
  • Total assets and liabilities rose by more than 100% from 2022.
  • The gap between assets and liabilities has remained relatively narrow, indicating tight net equity margins and overall prudent financial management.
  • Total equity initially rose between 2022 and 2023, but later declined in 2024 despite a substantial increase in CBN's assets and liabilities.
  • The most significant asset jumps occurred between 2022 and 2024, reflecting a rapid expansion of the balance sheet.
  • CBN’s total equity over the years ranged from ₦500 billion to ₦2 trillion, peaking in 2023 at ₦2 trillion.
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