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  • Over the past ten years, there has been a rising trend of fraud and forgery cases in Nigerian banks. Although there was an 88% increase in reported cases in 2021, there was a 27% decrease in 2022, resulting in a 221% increase in financial losses of ₦9.5 billion.
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    Every Nigerian president since 1999 left office with a higher dollar to naira exchange rate than when they took office. Will President Tinubu's tenure be the exception?

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  • In the past 10 years, Nigeria has received $131 billion in capital imports

    Nigeria's capital importation has been on a decline after it hit a $24 billion peak in 2019. In the past 10 years, it received $131 billion, with the lowest recorded in 2016. Here are the country's capital imports since 2013.

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    As of the end of September 2023, Starlink Nigeria had amassed a customer base of 11,207 active subscribers, growing 66% from 6,756 in June. It placed 4th in the market after Spectranet (113,747), Tizeti Network (19,126), and ipNX Nigeria (14,871).

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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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    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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  • Over the past ten years, there has been a rising trend of fraud and forgery cases in Nigerian banks. Although there was an 88% increase in reported cases in 2021, there was a 27% decrease in 2022, resulting in a 221% increase in financial losses of ₦9.5 billion.
    See more
  • Every Nigerian president since 1999 left office with a higher dollar to naira exchange rate than when they took office. Will President Tinubu's tenure be the exception?

    See more
  • In the past 10 years, Nigeria has received $131 billion in capital imports

    Nigeria's capital importation has been on a decline after it hit a $24 billion peak in 2019. In the past 10 years, it received $131 billion, with the lowest recorded in 2016. Here are the country's capital imports since 2013.

    See more

Other Insights

In almost 61 years since Nigeria's First Republic, there have been 16 Presidents and Heads of State either by seizure, democratic election, or handing over by an interim government.

The unsuccessful attempt to restore Nigeria to democracy between 1992 and 1993 gave rise to the aborted Third Republic.

 

 

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In Q1 2024, there was a 146% increase in Nigeria's foreign trade value from ₦12.9t in Q1 2023, with exports reaching ₦19.2t, and surpassing the whole of 2020's exports (₦12.5t).

The total trade value in the quarter reached nearly half of the total trade in 2023.

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After tax, 12 NGX-listed Nigerian banks retained 10% - 45% of their respective revenues for the year as profit, with GTCO in the lead.

Despite Zenith Bank leading in profit after tax with nearly ₦677 billion, GTCO recorded the highest profit margin, keeping 45% of its revenue.

Here are Nigerian banks' profit margins in 2023.

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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 2022, the US hosted a diverse African immigrant community, totaling over 2.75 million. ​​ ​Nigerians make up the largest group at 448,405 (16.3%), followed by Ethiopians (10.6%), Egyptians (8.3%), and Ghanaians (7.8%).

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MTN Group: The share of revenue for data almost doubled in a decade while share of voice almost halved

MTN Group's share of voice revenue has steadily declined since 2014, falling from 71% to 36.6% in 2023. On the other hand, data services' share went from 18.6% to 37% in the same period.

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MTN Group: Revenue from data almost tripled in a decade

MTN Group's revenue of ZAR104.3b from voice services in 2014 dropped to ZAR81b in 2023, with data services revenue almost tripling within the same period. With increasing digital inclusion, data service is definitely the future for telcos.

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MTN Nigeria’s voice and data revenue has been on an upward trend since 2018 but data recorded a higher year-on-year growth rate. Data grew at an average of 47.5% in five years, while voice, which had not seen an increase up to 10% in the years under review, grew to 27.1% in 2022.
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From 2006 to 2022, the Nigerian-born immigrant population in the US saw significant growth, increasing from 197.5k to 448.4k. This figure reflects almost a 1% share of the total foreign-born population in the US, which reached 46.2m in 2022.

Notably, the most rapid increases occurred between 2014 and 2022, with the Nigerian immigrant population jumping from 264.4k to 448.4k.

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A recent UNICEF report shows that 293m children worldwide did not have drinking water in their schools in 2023. Six African and four Asian countries make up the top ten, with Ethiopia and Nigeria occupying first and second positions, respectively, with 33.2m and 29m children.

The top five countries account for 42% of the total affected population.

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Bitcoin has seen remarkable growth since 2010. Starting from a high of just $0.5 in 2010, it reached an all-time high of $73.7k in March 2024.

It recorded new peaks in 2011, 2013, 2017, 2020, 2021, and recently in 2024.

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Nine of the top ten countries with the highest rates of female child marriage are in Africa. Niger leads the list, with 76% of women aged 20 to 24 married or in union before 18.
Bangladesh is the only non-African country in the top ten, with a rate of 51%.

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In almost 61 years since Nigeria's First Republic, there have been 16 Presidents and Heads of State either by seizure, democratic election, or handing over by an interim government. The unsuccessful attempt to restore Nigeria to democracy between 1992 and 1993 gave rise to the aborted Third Republic.    
Read more
In Q1 2024, there was a 146% increase in Nigeria's foreign trade value from ₦12.9t in Q1 2023, with exports reaching ₦19.2t, and surpassing the whole of 2020's exports (₦12.5t). The total trade value in the quarter reached nearly half of the total trade in 2023.
Read more
After tax, 12 NGX-listed Nigerian banks retained 10% - 45% of their respective revenues for the year as profit, with GTCO in the lead. Despite Zenith Bank leading in profit after tax with nearly ₦677 billion, GTCO recorded the highest profit margin, keeping 45% of its revenue. Here are Nigerian banks' profit margins in 2023.
Read more
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).
Read more
In 2022, the US hosted a diverse African immigrant community, totaling over 2.75 million. ​​ ​Nigerians make up the largest group at 448,405 (16.3%), followed by Ethiopians (10.6%), Egyptians (8.3%), and Ghanaians (7.8%).
Read more
MTN Group: The share of revenue for data almost doubled in a decade while share of voice almost halved

MTN Group's share of voice revenue has steadily declined since 2014, falling from 71% to 36.6% in 2023. On the other hand, data services' share went from 18.6% to 37% in the same period.

Read more
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