• The number of artists earning over $5,000 in royalties from Spotify has risen from 36,400 in 2017 to 110,500 in 2024, a 205% increase.
• The growth trend accelerated significantly after 2020, crossing 80,000 artists by 2021.
• Between 2017 and 2019, the growth rate was slower, rising from 36,400 to 53,700 artists in two years.
• The most significant jumps happened between 2019-2021, as numbers surged from 53,700 to 81,700 artists.
• The consistent rise suggests increased monetisation opportunities for independent and mainstream artists on Spotify.

• Avatar remains the highest-grossing movie globally, earning $2.92 billion.
• Titanic, released in 1997, is still among the top-grossing films with $2.22 billion, showing the lasting appeal of classics.
• Recent films like Avatar: The Way of Water ($2.32 billion) and Spider-Man: No Way Home ($1.92 billion) prove that sequels and superhero films continue to drive massive revenues.
• Disney properties dominate the list, with multiple Marvel, Star Wars, and animated films ranking among the top earners.

• Dangote first announced the refinery in 2013 with a $9 billion plan, securing $3.3 billion in funding.
• The estimated cost grew to $15 billion in 2017, as planned refining capacity increased to 650,000 barrels per day.
• By 2023, the refinery was finally commissioned, after its total cost surged past $20 billion.
• In December 2023, the first crude supply of 1 million barrels arrived, marking the start of operations.
• By 2024, the refinery began producing diesel and jet fuel, with 6 million barrels received for processing.

Key takeaways:

• In 2024, BUA Foods hit new heights, with gross profit for Q4 surpassing ₦189 billion.
• A remarkable surge occurred in 2024, with quarterly gross profits regularly exceeding ₦100 billion.
• The fourth quarter of 2024 marked a significant peak, illustrating a 200% increase from Q4 2023.
• BUA Foods' gross profit dramatically climbed from approximately ₦25 billion in 2021 to nearly ₦190 billion in Q4 2024.

• Eastern Africa is the most populous region, making up 33.09% of Africa’s total population, with over 507 million people.
• Together, Eastern and Western Africa house over 63% of Africa’s total population, indicating where much of the continent’s human capital and economic activity will be concentrated.
• Northern Africa has 274.1 million people (17.89%), while Central Africa has 216.3 million (14.11%), placing them in the mid-range of Africa’s population distribution.
• Southern Africa is by far the least populous region, contributing just 4.8% (73.6 million people) to Africa’s 1.5 billion total.
• The population contrast across regions highlights key differences in urbanisation, economic opportunities, and development needs.
• Understanding Africa’s population distribution is crucial for businesses, policymakers, and investors, as future economic growth, consumer markets, and labour forces will be heavily influenced by these demographic trends.

• Asia remains the world's population giant, housing nearly 59% of the global population.
• Africa’s population boom is accelerating, contributing 18.7% of the world’s people.
• Europe is shrinking in global demographic weight, making up only 9.09% of the world’s people.
• Oceania remains sparsely populated, with just 0.57% of the global population.
• Demographic trends will shape economic power, as nations with younger populations could become economic engines if properly harnessed.
• Urbanisation and resource allocation will become critical, especially in Asia and Africa, where rising populations will put pressure on housing, food, and infrastructure.

• Nearly half of the global population is aged between 20 and 54, making this group the primary driver of economic activities worldwide.
• Individuals under 19 years old make up 32.9% of the total global population, highlighting the need for sustained investments in education and child welfare.
• Over 19% of the population is aged 55 and above, emphasising the need for healthcare, retirement planning, and age-friendly policies.
• With 2.10 billion people, the 35-54 group represents the backbone of global leadership, corporate decision-making, and financial stability.

Key Takeaways:

• In 2007/08, personal income tax (PIT) contributed 29.46% of total tax revenue, while corporate income tax (CIT) added a substantial 24.46%.
• The share of personal income tax in tax revenue rose by 27% from 2007/08 to 2023/24.
• Corporate income tax contribution declined by 26% from 2007/08 to 2023/24.
• In 2019/20, personal income tax made the largest contribution to tax revenue (38.9%), a 32% rise from the 2007/08 contribution.
• Other taxes showed minor variations, averaging around 19% of total tax revenue.
• Personal income tax reached its peak contribution at 38.92% in 2019/20 before dropping by 4% in 2023/24.

Key Takeaways:

• Nestlé’s dividends increase year after year was highest in 2018 and 2019 at ₦17.83 billion and ₦12.68 billion, respectively.
• The declared dividends reached a peak of ₦55.49 billion in 2020, while the lowest was recorded at ₦15.06 billion in 2016.
• In recent years, Nestlé Nigeria Plc has shown a declining trend in declared dividends.
• Dividends decreased by nearly 14%, 17%, and 28% in 2021, 2022, and 2023, respectively, compared to the previous years.

Key takeaways:

• Nestlé Nigeria's income tax contributions rose from ₦5.6 billion in 2015 to ₦57 billion in 2024.
• In 2024, the company saw an extraordinary 132% rise in taxes compared to the previous year.
• Despite facing economic hurdles during the COVID-19 pandemic, Nestlé ensured that its tax contributions remained above ₦21 billion annually from 2020 to 2022.
• The significant spike in 2024 was mainly due to a considerable loss before tax, driven by heightened finance costs stemming from the devaluation of the Naira.
• Nestlé Nigeria's 144% income tax growth in 2016 is the highest in the past ten years.

• Africa now spends 27.5% of revenue on interest payments, nearly 4 times higher than in 2008.
• The debt burden is rising faster than economic growth as interest payments as a percentage of GDP grew from 5.4% in 2008 to 8.2% in 2024, showing increasing financial strain.
• Effective interest rates have more than tripled from 1.4% in 2008 to 5.0% in 2024, making debt less affordable.
• Between 2008 and 2019, the ratio of interest to revenue rose by 12.2 percentage points, and in five years (2019–2024), it surged by another 8.5 percentage points.
• As borrowing costs rise, the risk of defaults and fiscal crises in African economies grows, making financial stability a concern.
• More money spent on debt means less for roads, hospitals, and schools, slowing down long-term economic progress.

• With a projected GDP of $80 million, Tuvalu ranks as the smallest economy globally, producing less in a year than many corporations earn in a day.
• Even when put together, these small economies still fall far behind the economic output of many mid-sized countries or cities.
• Nigeria’s $199.72 billion GDP overshadows the economies of these nations.
• Many of the world’s smallest economies are Pacific and Caribbean island nations, which often depend on tourism, remittances, and international aid.
• With limited industries and small populations, these economies are highly vulnerable to external shocks like climate change, supply chain disruptions, or shifts in global tourism trends.