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  • Over time, Nigerian workers under 50 have increasingly relied on pension savings during unemployment. This graph illustrates the upward trend with some fluctuations in both the total amount withdrawn — ₦26.9 billion in 2022, and the number of approved withdrawals. Individuals who can withdraw 25% of their retirement savings balance are those who disengaged/retired before the age of 50 years in accordance with the terms and conditions of their respective employment and stayed unemployed for at least six months.

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    africas-imports-by-country-2022-65bcdbd921bcd

    African countries imported products worth $694 billion in 2022, with South Africa, the continent's leading importer, bringing in products worth $111.9 billion, representing 16.1% of the total. Egypt followed with $79.7 billion, constituting 11.5%.

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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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  • Per projections made by Goldman Sachs, China should lead the global economy in terms of GDP by the year 2075, closely followed by India and the US. Nigeria and Egypt are the only African countries expected to be in the top 15 by that time.

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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 dominates with ₦339.6b, contributing over 70% of GTCO’s total profit after tax in Africa.
  • Ghana (₦61.9b) and Côte d’Ivoire (₦28.2b) followed as the strongest non-Nigerian subsidiaries.
  • Tanzania (₦46m) and Uganda (₦505m) contributed negligible profits compared to peers.
  • GTCO subsidiaries across Africa collectively generated around ₦476b profit after tax in the first half of 2025.
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  • Nigeria’s public debt rose to $99.7 billion, up from $91.3 billion in June 2024, marking a return to growth after a dollar-value decline in 2024.
  • The debt in local currency climbed to ₦152.4 trillion, reflecting both borrowing and continued naira depreciation.
  • The increase underscores ongoing domestic financing challenges and vulnerability to exchange-rate fluctuations.
  • The growth in dollar terms points to renewed external borrowing as the government manages debt obligations post-2024 volatility.
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  • From recession to recovery, Nigeria’s GDP growth journey reveals three decades of economic volatility and slow transformation.
  • Nigeria's economy grew by 14.6% in 2002, which is still the highest in the country's history.
  • The country entered a recession in 2016, with the economy shrinking by -1.6%.
  • Nigeria enjoyed a long period of strong growth between 2003 and 2010: The economy grew between 7% and 11%, powered by high oil prices and booming sectors like telecoms and banking.
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  • The U.S. consistently leads Nigeria’s imports from the Americas, accounting for 57–73% between 2013 and 2025.
  • Brazil ranks second, with shares ranging between 11% and 24%, highlighting its steady trade ties with Nigeria.
  • During the period, the combined share of the U.S. and Brazil never fell below 76%, even at its lowest point in 2022.
  • Total imports from the Americas surged from ₦0.9 trillion in 2013 to a peak of ₦6.3 trillion in 2024.
  • Canada’s import share peaked at 16.4% in 2022, showing a rare moment of diversification.
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  • South Africa dominates with 30 battery storage systems, the largest by far.
  • Egypt is the second-largest market with 7 projects, while Morocco has 4.
  • Nigeria and Senegal have five projects each (operational + pipeline).
  • Several countries, including Ghana, Togo, Angola, Botswana, DR Congo, and Mauritius, each have just one or two projects, indicating an uneven spread across the continent.
  • South Africa also leads in systems under construction (7).
  • Operational projects are still limited continent-wide, with most systems either under construction or in the planning pipeline.
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  • Imports from ECOWAS countries peaked at 39.9% in H1 2024, up from just 12.0% in H1 2021.
  • The share declined to 32.4% in H1 2025, showing a reversal after the 2024 peak.
  • Total import values grew sharply, from ₦209.6B in H1 2020 to ₦1.8T in H1 2025.
  • In H1 2019, ECOWAS already had a decent share of 19.6%, showing long-standing but fluctuating trade ties.
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  • ECOWAS’ share of Nigerian exports rose from 34.2% in H1 2019 to 62.1% in H1 2025.
  • The most significant share came in H1 2022, when ECOWAS accounted for 75.8% of exports.
  • Exports to other African countries dropped significantly in 2022, to just 24.2%.
  • Nigeria’s total exports to Africa grew from ₦0.9T in H1 2022 to ₦4.8T in H1 2025.
  • ECOWAS consistently maintained a majority share from H1 2022 onwards, with a share above 60%.
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  • FDI inflows in Nigeria peaked at $8.8 billion in 2011, marking the highest point in the Fourth Republic.
  • From 2011 to 2024, FDI inflows dropped, settling at $1.1 billion in 2024.
  • The early Fourth Republic (1999–2011) showed growth in FDI inflows.
  • FDI outflows rose from $0.2 billion in 1999 to $1.5 billion in 2009, reflecting gradual international expansion by Nigerian investors.
  • From 2015 onward, both inflows and outflows showed significant volatility, with no clear recovery trend.
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  • Debt service costs in South Africa overtook government health spending in 2020/21.
  • In South Africa's 2025 budget, debt service costs stand at R426.3B, compared to R296.1B for health.
  • Debt service costs grew at 11.3% CAGR (2017–2025), more than double the 5.0% CAGR of government health expenditure.
  • The gap between debt and health spending widened sharply after 2020/21, with debt consistently pulling ahead.
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  • The young-to-old dependency ratio stands at 14:1, showing that youth dependency overwhelmingly drives the total ratio.
  • The total dependency ratio declined from 88.2% in 1976 to 78.8% in 2024, showing slow but steady improvement.
  • The youth dependency ratio has dropped from 82.2% to 73.3% over the same period.
  • The old-age dependency ratio remained almost flat, averaging around 5–6% for nearly 50 years.
  • The highest total dependency ratio was 95.0% in 1988.
  • The ratio’s slight downward trend after 2012 reflects a growing working-age population entering the labour market.
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  • Oil exports continued to dominate, averaging over 88% of total exports in 2024 and remaining above 81% in the first half of 2025.
  • Non-oil exports rose gradually, from a low of 6.9% (February 2024) to a high of 18.1% (January 2025).
  • Peaks in non-oil export contributions occurred in July 2024 (16.4%) and January–April 2025 (13–18%), indicating progress toward diversification.
  • Total exports remained heavily oil-driven, though sustained double-digit non-oil shares in late 2024 and early 2025 show a slow shift.
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  • Non-oil exports rose to 14.3% of total exports in 2025, up from 8.7% in 2023.
  • Oil exports still represent 85.7% of total exports in 2025.
  • The non-oil share reached 13.1% in 2019 before dipping and rebounding by 2025.
  • Nigeria’s total exports expanded from ₦9.6 trillion in 2015 to ₦43.3 trillion in H1 2025, showing strong value growth.
  • The lowest non-oil share in the decade occurred in 2016 (4%), reflecting heavy oil dependence.
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  • Kenya recorded 2,008 protests in 2024, the highest in its modern history.
  • The number of protest events increased seven-fold between 2022 and 2024.
  • Social media has become a major mobilisation tool for civic expression.
  • Rising cost of living, taxation, and unemployment remain the top drivers of unrest.
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  • Africa recorded 12,581 protests and violent demonstrations in 2024.
  • Morocco led the continent with 3,654 protests, far ahead of others.
  • Kenya ranked second with 2,008 protests.
  • South Africa (1,715) and Nigeria (971) followed, driven by economic and political frustrations.
  • North African countries, such as Morocco, Tunisia, and Libya, accounted for a significant share of protests.
  • The bottom 10 countries, including Lesotho, Gambia, and Seychelles, recorded fewer than 10 protests each.
  • Djibouti and Eritrea reported zero protests.
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  • India recorded the highest number of protests and demonstration events globally in 2024 (22.1K).
  • The United States followed with 10.5K protest events.
  • Yemen (8.2K) ranked third, reflecting the instability and ongoing conflict-driven unrest.
  • Pakistan (7.3K) and France (6.9K) rounded out the top five, underscoring the diverse sources of civic agitation.
  • Morocco (3.7K) was Africa’s leading country for protest activity, placing 12th globally.
  • The global total of protest and violent demonstration events reached 153,573 in 2024.
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  • The Protestants dominate church networks in Nigeria, counting 68.1 million adherents, making up 63.9% of all Christians.
  • Following closely are the independent churches, with 30 million members, representing 28.2% of Nigerian Christians.
  • The Catholic Church stands firm with 27.9 million Christians, or about 26.2% of the Christian population.
  • At the smaller end of the spectrum are the Orthodox Christians, just 3,100 strong, and 152,000 unaffiliated believers who walk their spiritual path independently.
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  • West Africa dominates Africa’s top 15, holding six positions on the remittance importance index.
  • Zimbabwe (78) ranks as Africa’s top country in terms of remittances' importance.
  • Senegal (77) and Nigeria (72) highlight the central role of diaspora inflows in West Africa’s economies.
  • Morocco (74) leads North Africa in remittance importance.
  • Smaller nations like Lesotho (68) and Liberia (68) depend heavily on remittances relative to their GDP.
  • The lowest-ranked countries, including Angola (9) and Djibouti (11), rely minimally on remittance inflows.
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