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  • Asian countries dominated the global palm oil market in 2021.

    Indonesia and Malaysia accounted for 67.8 million tonnes out of 80.7 million tonnes produced.

    Smaller producers like Nigeria (1.4 million tonnes) and Guatemala (0.8 million tonnes) had modest contributions.

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    ASUU strikes have lasted a total of 742 days since 2010. The longest to date was the almost nine-month-long strike of 2020. With another academic strike looming, we give you the trend of all ASUU strikes by duration since 2010.

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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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  • In 1994, the IBM Simon Personal Communicator, paved the way for a digital revolution. Fast forward to 2017, when smartphone shipments peaked at 1.57 billion units. However, the subsequent six-year period witnessed a 25% decline in shipments.

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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

Canada granted permanent residency to 471.8k individuals in 2023, with Indian citizens leading with nearly 30% of the total.

Nigeria (3.7%), Cameroon (2.5%), and Eritrea (2.3%) were in the top ten recipients.

 

 

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After growing from 1.5% in 2015 and peaking at 5.1% in 2022, Nigeria's share of Canadian permanent residency status issuances dropped to 3.7% in 2023.

This is Nigeria's share of Canadian permanent residency status issuances since 2015.

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Nigerian academic IELTS test takers scored an average of 6.7 out of 9 in 2022, placing the country joint 5th globally with Ghana, Hong Kong, and Indonesia. Spanish academic IELTS test takers topped the list with an overall score of 7.1.

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Over the years, the value of the Zimbabwean Dollar (ZWL) has been on a massive downward trend compared to the US Dollar (USD). This has led to the latter accounting for most of the domestic transactions in the Southern African country. The ZWL went from 10,152.5 to USD 1 as of January 1, 2024, to 30,674.3 on April 1, 2024. The Reserve Bank of Zimbabwe is introducing a gold-backed digital currency as a legal tender to stabilise its currency.
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In 2023, Nigerian students emerged as the third-highest recipients of Canadian study permits, behind India and China.

This marked a jump from their fifth position in 2022, when 16,105 study permits were issued to its citizens.

India maintained its position as the top source country, followed by China. The Philippines, Nepal, and France retained their places in the top ten.

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Compared to 2022, there was a remarkable surge of 133.7% in the issuance of Canadian study permits to Nigerians in 2023. After experiencing a decline in 2020 (-22%), the number of Nigerian study permit recipients rebounded strongly.

Globally, the issuance of Canadian study permits witnessed an increase of 24.6%, climbing from 548,610 in 2022 to 683,585 in 2023.

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Nigeria’s electricity distribution companies (DISCOs) generated ₦1.07 trillion revenue in 2023 — double 2020's amount and 3.8x that of 2015. From 2015 to 2023, revenue has grown from ₦279b to ₦1.07t, while customer base has increased by over 5m, from 7m to 12.1m.

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After peaking at ₦5.69b in 2021, Nigeria's railway revenue from passengers has fallen for two consecutive years, dropping to ₦4.43b in 2023. Cargo revenue, on the other hand, reached its highest (₦1.08b) in 2023.y revenue from passengers has fallen for two consecutive years, dropping to ₦4.43b in 2023. Cargo revenue, on the other hand, reached its highest (₦1.08b) in 2023.

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Newzoo, a provider of video game and gamer data, reported that in 2023, Nigerian mobile gamers spent approximately $229.7m — the highest expenditure in Africa — boasting a sizable 14.7m spenders.

Egypt's gamers spent an estimated $212.6m and occupied second place in Africa's mobile gaming expenditure ranking.

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Spotify paid out more than $9 billion in music royalties in 2023.

Artistes who received earnings ranged from 259,700 earning at least $1,000 to just 60 earning $10 million or more.

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How much more debt did Nigerian states add to their existing domestic debt in 2023?

Nigerian states' domestic debt increased by 9.8% in 2023, with 20 states and the FCT contributing to this increase. Lagos State recorded the biggest jump in domestic debt with ₦241.5b added.

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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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Key Takeaways:
  • Cameroon’s IMF debt decreased from SDR 70.6 million in 2016 to SDR 49.1 million in 2017—a 30% reduction.
  • From 2018 onwards, the country experienced steady increases in outstanding debt.
  • After an initial 30% reduction from 2016 to 2017, debt skyrocketed by 380% in just one year (2017-2018).
  • By March 2025, Cameroon’s outstanding debt had reached SDR 1.18 billion, representing a staggering SDR 1.13 billion increase from its 2017 level.
  • Although the pace of accumulation has moderated in recent years, the overall debt trend remains upward.
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Key Takeaways:
  • The Democratic Republic of Congo (DRC) reduced its external debt significantly from SDR 263 million in 2016 to SDR 69.3 million by 2019.
  • A sharp reversal occurred in 2020, with debt surging by 327% within a single year, from SDR 69.3 million in 2019 to SDR 296.2 million.
  • Over the decade from 2016 to 2025, the country’s debt increased by 580%, reaching SDR 1.79 billion by March 2025.
  • From 2020 to 2025, the DRC has accumulated over SDR 1.49 billion in new debt.
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  • Gold hit its trough at $1,985/oz in February 2024, marking the low before an uninterrupted rally.
  • After a spring consolidation, gold surged past $2,500/oz in September 2024 (peaking then at $2,546), signaling broadening investor demand.
  • The metal first cracked the $3,000/oz threshold in March 2025 when it reached $3,026, underscoring accelerating momentum.
  • That rally culminated in a new record of $3,323/oz in April 2025, a 67.5% gain from the February 2024 low.
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Global internet usage overview
  • A staggering 96.3% of users access the internet via mobile devices, making smartphones the most important digital tools in the world today.
  • While 82.7% of the global urban population is online, only 47.4% of the rural population has access. That’s a huge gap that reflects deep inequalities in infrastructure and digital opportunity.
  • Spending 6 hours and 38 minutes online every day isn’t just scrolling time; it’s a shift in how humans live, learn, and earn. It’s equivalent to more than 100 full days online per year per person.
  • Although mobile dominates, 61.5% of users still access the internet through computers, proving that traditional devices still matter for work, school, or content creation.
  • While 70% of men use the internet, 65.7% of women do. This gap may seem small, but on a global scale, it represents millions of women without access to tools for learning, income, and visibility.
  • With billions spending almost 7 hours daily online, the internet is where decisions are made, opinions are formed, and lives are influenced.
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Share of private capital deals (volume) in Francophone Africa, by Sector, 2012 – 2024 H1
  • Between 2020–2024 H1, 40.58% and 50.91% of deal volume went to consumer staples and consumer discretionary respectively, showing that everyday goods and lifestyle products are fast becoming investment magnets.
  • The utilities sector deal volume exploded in recent years, jumping from 21.62% in 2016–2019 to 70.27% in 2020–2024 H1, an indication that basic infrastructure services like energy, water, and power are now central to investment strategies.
  • 78.57% of all deal volume in the information technology sector happened in the most recent period, suggesting that digital solutions and tech platforms are increasingly being backed by private capital.
  • The industrials sector also bounced back, with 46% of its deal volume coming in the 2020–2024 period.
  • Energy sector investment dropped from 66.67% to 33.33%, and real estate recorded no new deals after 2015.
  • Health care remained consistent across all three periods, securing exactly 33.33% of the deal volume each time, highlighting its stability, even if not standout growth.
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  • Nigeria’s currency has undergone 10 key shifts; from note introductions to redesigns and a digital launch.
  • Between 1999 and 2005, four new notes; ₦100 to ₦1,000, were introduced in response to inflation.
  • The ₦200, ₦500 & ₦1,000 notes, which dominate in circulation by value, were revamped with high-security features.
  • In 2021, Nigeria launched the eNaira, making it the first African country with a Central Bank Digital Currency.
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