Economy
Nigeria Records Highest Crypto Ownership, Use in 2022
By Adedapo Adesanya
A new research has revealed that Nigeria topped the countries with the highest rate of cryptocurrency use and ownership in 2022.
Nigeria, Africa’s largest economy, clinched the top spot, with almost half the population having used or owned cryptocurrency.
The study, conducted by an online casino guide Trading Browser, analysed data on crypto ownership and usage. The ranking was done via the percentage of the population that reported that they used or owned cryptocurrency each year from 2019 to 2022.
Nigeria tops the list, with 45 per cent of the population using or owning cryptocurrency in 2022. The nation boasts over 90 million people using cryptocurrency – that’s almost 150 per cent higher than the population of the United Kingdom.
From 2019 to 2022, Nigeria saw a 17 per cent total increase in ownership and use from 28 per cent to 45 per cent, equating to over 34 million people adopting cryptocurrency over the three years.
Coming in second place is Thailand. The Southeast Asian country has a massive 44 per cent of its population reporting to using or owning cryptocurrency – equal to just over 30 million people.
Despite being dwarfed by some of the other contenders on the list, Thailand has the biggest uptake in ownership and usage, with a huge 21 per cent increase from 23 per cent to 44 per cent. That’s equal to 14.6 million people, just over one in five of the population of the country, which is the highest percentage of the top ten.
The number three spot belongs to Turkey. The transcontinental country has 40 per cent of its population owning and using cryptocurrency in 2022, equal to over 33 million people. The adoption of cryptocurrency has doubled from 20 per cent to 40 per cent amongst the population from 2019 to 2022 – over 16 million people. This increase from 2019 to 2022 places Turkey second in terms of cryptocurrency uptake.
The first South American country on the list, Argentina, comes in fourth with an ownership and usage rate of 35 per cent in 2022 – almost 16 million people. This may well change in the near future, though, with several draft laws aimed at institutionalising and regulating various aspects of digital assets and the virtual currency industry.
In fifth place comes the United Arab Emirates (UAE). The UAE is hot on the heels of Argentina, with 34 per cent of the population owning or using cryptocurrency in 2022 – just over one in three people of the almost 10 million population.
Minister of State for Foreign Trade, Dr Thani Al Zeyoudi, said in a recent interview with Bloomberg that a key area the UAE is looking to expand into, is cryptocurrencies. So, this might well mean that the 34 per cent figure is set to increase over the coming years.
The remainder of the top ten features the Philippines in sixth place with 29 per cent (15 million) of its population using or owning cryptocurrency. Vietnam is in seventh place with 27 per cent of the population, equalling just over 26 million people using or owning cryptocurrency.
Surprisingly, in joint eighth place, the country with the highest population in the top ten, India, is matched with the country with the lowest population in the top ten, Singapore. Both nations have a rate of 25 per cent of the population owning or using cryptocurrency in 2022, over 341 million and almost 1.5 million, respectively.
In ninth place is Brazil. The second South American country of the top ten has the lowest rate of cryptocurrency ownership and use at only 24 per cent – just over 51 million of the population. Last place in the top ten is South Africa, with a usage and ownership ship of 23 per cent, working out to over 13 million people.
Surprisingly, the United States ranks 22nd on the list, with only 16 per cent of the population owning or using cryptocurrency. That’s equivalent to just over one in six people. The United Kingdom ranks even lower, coming in at 50th place with only 11 per cent of the country owning or using cryptocurrency – equal to just over 7 million people.
Commenting on the findings, a spokesperson for Trading Browser said, “The information presented in the data offers valuable perspectives on the industry’s current status, specifically emphasizing the increasing adoption of digital assets worldwide. It is positive to observe various countries making strides in terms of cryptocurrency regulation and infrastructure. It is hoped that this data will contribute to the further development and widespread acceptance of digital assets.”
The study was conducted by Trading Browser, a one-stop solution for cryptocurrency traders and investors. They have a dedicated team of experienced crypto professionals on hand to guide and help people through cryptocurrency trading. They also provide information on the market, best practices for trading, and useful tools and resources for making informed decisions.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited further depreciated by 0.84 per cent on Monday as a result of sell-offs in PZ Cussons, BUA Cement and others.
During the session, apart from the consumer goods index, which closed higher by 0.59 per cent, every other index closed lower, with the industrial goods sector the heaviest loser after shedding 3.28 per cent. The insurance space declined by 2.18 per cent, the banking sector depleted by 1.44 per cent, and the energy segment shrank by 0.09 per cent.
Consequently, the All-Share Index (ASI) retreated by 2,049.65 points to 241,749.11 points from 243,798.76 points, and the market capitalisation contracted by 1.315 trillion to N155.130 trillion from N156.445 trillion.
The market was under selling pressure yesterday, as reflected in the market breadth index, which was negative after closing with 48 price losers and 22 price gainers, indicating weak investor sentiment.
PZ Cussons was the worst-performing stock after shedding 10.00 per cent to finish at N81.00, BUA Cement lost 9.99 per cent to settle at N306.20, Red Star Express declined by 9.98 per cent to N22.10, RT Briscoe depreciated by 9.70 per cent to N12.10, and C&I Leasing dropped 9.38 per cent to trade at N28.12.
The best-performing equity for the day was International Breweries, which chalked up 9.77 per cent to quote at N14.60, NAHCO improved by 8.36 per cent to N177.00, UAC Nigeria expanded by 8.11 per cent to N199.95, DAAR Communication grew by 6.67 per cent to N1.76, and Vitafoam Nigeria gained 5.87 per cent to close at N194.80.
During the session, investors bought and sold 523.5 million shares worth N22.3 billion in 59,945 deals compared with the 441.3 million shares valued at N19.4 billion traded in 44,938 deals last Friday, indicating an increase in the trading volume, value, and number of deals by 18.63 per cent, 14.95 per cent, and 33.40 per cent, respectively.
FCMB closed the day as the most traded stock, with 102.2 million units valued at N1.0 billion. International Breweries sold 26.8 million units worth N387.2 million, Access Holdings exchanged 24.8 million units for N618.2 million, McNichols traded 20.3 million units worth N95.0 million, and Stanbic IBTC transacted 18.4 million units valued at N2.9 billion.
By Adedapo Adesanya
Nigeria met its production quota set by the Organisation of Petroleum Exporting Countries (OPEC) as crude oil and condensate production soared to an average of 1,735,398 barrels per day in June 2026, representing positive growth for a fourth consecutive month.
This is according to a statement released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and signed by its Head of Media and Corporate Communications, Mr Eniola Akinkuotu, on Sunday.
The regulator noted that in June, crude oil production hit 1.56 million barrels per day while 0.18 million barrels per day of condensates were produced. The commission revealed that Nigeria met 104 per cent of the 1.5 million barrels per day crude oil production quota set by OPEC.
Business Post reports that OPEC quota doesn’t account for condensates in its count.
In strict crude oil terms (excluding condensates), the 1.56 million daily average production Nigeria witnessed in June is the highest that Africa’s biggest oil producer has recorded since April 2020, thus representing a 74-month high.
In June, NUPRC noted that the peak combined crude oil and condensate production was 1.89 million barrels per day, reflecting Nigeria’s potential to reach 2 million barrels per day in the near term. However, the lowest production was 1.57 million barrels per day for the period in review.
According to the upstream regulator, the improved performance was primarily driven by stable production operations across most producing assets and the absence of any major pipeline outages during the period under review.
This enhanced operational stability supported improved production uptime and crude evacuation efficiency.
Nigeria, which is Africa’s biggest oil producer, has not been able to top its record-high production of 2.5 million barrels per day recorded in 2025 due to challenges ranging from underinvestment to oil theft.
By Dipo Olowookere
On the Nigerian Exchange (NGX) Limited last week, investors transacted 3.648 billion shares worth N220.568 billion in 251,861 deals compared with the 3.821 billion shares valued at N154.393 billion traded in 258,567 deals a week earlier.
Analysis showed that financial stocks led the activity chart with 2.899 billion units sold for N147.360 billion in 106,603 deals, accounting for 79.48 per cent and 66.81 per cent of the total trading volume and value, respectively.
Services equities recorded a turnover of 164.914 million units valued at N3.615 billion in 16,375 deals, and the consumer goods shares exchanged 157.451 million units worth N7.777 billion in 27,950 deals.
First Holdco, Zenith Bank, and Fidelity Bank were the busiest stocks for the five-day trading week, trading 1.745 billion units valued at N121.828 billion in 31,053 deals, contributing 47.85 per cent and 55.23 per cent to the total trading volume and value, respectively.
Business Post reports that 60 equities appreciated during the week versus 22 equities in the previous week, 28 shares depreciated versus 57 shares of the preceding week, and 58 stocks closed flat versus 67 stocks of the previous week.
International Breweries gained 40.00 per cent to trade at N13.30, RT Briscoe expanded by 32.02 per cent to N13.40, Livestock Feeds improved by 28.47 per cent to N9.25, First Holdco chalked up 25.82 per cent to close at N69.20, and Abbey Bank rose by 23.65 per cent to N9.15.
On the flip side, McNichols lost 28.57 per cent to finish at N5.00, Thomas Wyatt gave up 11.64 per cent to quote at N2.43, Geregu Power declined by 10.00 per cent to N825.70, CAP shed 9.99 per cent to settle at N157.60, and Guinness Nigeria also slipped by 9.99 per cent to N329.00.
Customs Street was under buying pressure last week, making the All-Share Index (ASI) and the market capitalisation close higher by 6.35 per cent to 243,798.76 points and N156.445 trillion, respectively.
In the same vein, all other indices finished higher apart from the growth and sovereign bond indices, which depreciated by 7.43 per cent and 0.02 per cent, respectively.
Pingback: Nachhaltigen Entwicklung (SDG16) schreitet unaufhalsam voran – Wir sind jetzt jetzt hier! – „Durchsetzung der digitalen Identität“ – Welt25
Pingback: 11 Ways To Make Money With Ethereum in Nigeria – Business Post Nigeria - Bittyswap
Pingback: Part 2 — Enforcing Digital Identity – IndieNewsNow