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  • Between September 2022 to August 2023, 3 of Nigeria's mobile Internet providers saw a combined 8 million increase in their active mobile Internet subscribers, with MTN gaining the most, followed by Globacom and Airtel. 9mobile on the other hand, recorded almost 1 million decline.

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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
 

Nigeria’s happiness scores range from 4.552 to 5.268, fluctuating from year to year.

There was a slight upward trend from 2016 to 2019, with the highest recorded in 2015. Here are Nigeria's happiness scores from 2012.

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At the end of every year from 2017 to 2023, Nigeria added between $800m and $7.5b to its external debt. After repaying $3.5 billion of its external debt in 2023, the country's external debt only increased by $800m as of December, marking the lowest increase in the past 7 years.

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Moove Africa's total disclosed funding as of March 19, 2024, comprises 41.6% debt financing, 22.5% Series B, 19.8% Series A, 14.9% private equity, and 1.2% Seed round.

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In its second funding disclosure in 2024, Moove Africa has raised $100 million in a Series B round. The startup has disclosed funding at least twice yearly since 2021 and six times in 2022. The total disclosed funding now totals $444M.

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Nigeria collected nearly ₦5 trillion income tax from companies in 2023. The amount collected in 2023 is 3.5x the collections in 2015 and 73% more than in 2022. Here are Nigeria's company income tax collections since 2015.

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happiness-2024-65fdcc8a1f311
 

Nigeria has ranked the 102nd happiest country of 143 countries surveyed globally as of 2024; it ranked 11th of 40 African countries.​
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​Libya ranked 66th globally and 1st in Africa, followed by Mauritius and South Africa in 70th and 83rd positions, respectively.

The World Happiness Report ranks happiness based on GDP per capita, life expectancy, generosity, social support, freedom, and corruption.

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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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In 2023, Nigeria experienced an overall decrease of 24% in road accidents compared to the previous year. All vehicle categories contributed to this decline except Luxury Bus, which recorded 13 cases more than in 2022, and Bicycle, which recorded 4 more than in 2022. Commercial vehicles recorded 68% of the total road accidents in the country, followed by private vehicles with 31%; 194 government vehicles and 4 diplomat vehicles were involved in road accidents in the year.
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Crude oil exports, which made up 81% of Nigeria's export value in 2023 have increased in three consecutive years since 2021. After a 36% decline in 2020, exports increased by 53% in 2021, 46% in 2022, and 37% in 2023 to reach ₦29 trillion.

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Nigeria's VAT revenue has grown every year since 2013, reaching ₦3.6 trillion in 2023. The amount collected in 2023 exceeded 2022’s by ₦1.13 trillion — a 45% increase.

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Bitcoin, the flagship cryptocurrency, has hit an all-time-high of $72,000 as of March 11, 2024, signifying a bull run in the crypto market.

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As of 2021, there were 400 fully electric vehicles sold in Africa, which is expected to reach 2,200 by 2027. By 2027, Africa will only account for approximately 0.02% of fully electric vehicles sold worldwide.

 

Global sales of electric vehicles are projected to hit 13.33 million by 2027, up from 4.6 million in 2021, indicating a significant increase in the shift from petroleum product-powered vehicles to electronic ones.

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Countries globally with the largest unconnected (internet) population (2025)
  • India tops the list with 651.6 million people offline — almost five times Nigeria’s number, but a smaller percentage (44.7%) of its population.
  • China has 311.9 million unconnected people, but that’s only 22% of its population.
  • With 78.7% of its population offline (105.2M people), Ethiopia has the lowest internet penetration among the top countries listed.
  • Bangladesh, Nigeria, and Pakistan all have over 50% of their populations unconnected.
  • Despite their smaller populations, over 70% of people in both Tanzania and Uganda remain offline.
  • While Nigeria is a regional tech hub, it still has over 128 million people offline, pointing to a major disconnect between urban tech growth and rural internet access.
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The average retail price of Automotive Gas Oil (Diesel) paid by consumers in Nigerian states in February 2025
  • Diesel prices in Adamawa skyrocketed by 92.77%, the most significant year-on-year increase nationwide, more than 4x the national average.
  • Many northern states, including Plateau (72.12%), Benue (60.57%), and Kano (54.76%), experienced steep diesel cost increases, intensifying regional cost disparities.
  • States like Gombe (-10%), Edo (-9.68%), and Kogi (-6.29%) bucked the national trend, offering some relief from rising energy costs.
  • The Federal Capital Territory recorded the highest absolute diesel price in the country.
  • Some states, such as Akwa Ibom (+2.17%) and Ebonyi (+2.23%), saw minimal changes.
  • Despite being a commercial hub, Lagos recorded one of the lowest diesel prices at ₦1,222.22, with a relatively small increase of 5.21%.
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The year-on-year change in average retail price of Automotive Gas Oil (Diesel) paid by consumers in Nigerian geopolitical zones in February 2025
  • Diesel prices in the North East soared by 36.26%, the highest increase nationwide.
  • All three northern zones—North East (36.26%), North Central (33.71%), and North West (15.44%)—saw the steepest fuel price increases, outpacing their southern counterparts.
  • The South East (6.97%) and South South (9.23%) recorded the lowest diesel price increases.
  • The South West experienced a moderate rise at 13.30%, positioning it between the extremes of northern and other southern zones.
  • The uneven price changes point to a broader issue of fuel supply chain challenges, infrastructure, and perhaps market inefficiencies affecting certain regions more than others.
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Private capital deals in Francophone Africa (2012 – 2024 H1)
  • Francophone Africa attracted $1.8 billion in private capital in 2021, about 9x the previous year (2020).
  • That same year saw 34 deals, which is quite high when compared to some other years, indicating strong investor confidence.
  • In 2024, deal value amounted to just $0.1 billion, and deal volume to 19, pointing to a significant cooling in activity.
  • Between 2012 and 2015, the region saw low deal values, with both 2014 and 2015 recording just $0.01 billion in investments.
  • A notable spike occurred in 2017 with $0.7 billion invested across 17 deals, marking the first major surge before 2021's breakout.
  • Deal counts haven’t always aligned with capital volume. For instance, 2023 had 42 deals but only $0.4B, suggesting a trend of smaller-sized investments.
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  • Lagos State contributed ₦305B in VAT, making up over 53% of the national total and more than three times that of any other state.
  • Rivers (₦90B) and Oyo (₦27B) followed Lagos as the second and third highest contributors, highlighting a steep drop after the top state.
  • Only a few states, including Bayelsa, Kano, Kwara, and Edo, remitted above ₦5B, showing a highly uneven distribution of VAT contributions.
  • Over 8 states, such as Kebbi, Osun, Imo, and Zamfara, contributed less than ₦2B each, indicating minimal VAT activity in many parts of the country.
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  • Kano State has the highest number of LGAs in Nigeria, with 44, far exceeding the national average of 21 LGAs per state.
  • Bayelsa, Nasarawa, and the FCT have the fewest LGAs, recording 8, 13, and 6 respectively, despite varying population sizes and landmass.
  • Northern states dominate the upper tier of the LGA count, with Katsina (34), Oyo (33), and Jigawa (27) all ranking among the top.
  • Southern states tend to have fewer LGAs, with Lagos and Ogun, two highly urbanised states, having just 20 LGAs each, hinting at a denser governance structure per area.
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