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  • Out of the 57.5k African students enrolled in US higher institutions for the 2022/23 academic year, nearly one-third — 17.6k (30.7%) — are from Nigeria. The numbers have steadily risen from 3.8k in the 2000/01 academic year.

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    In 2023, Nigeria emerged as the second-largest source of UK work visa applications, with 92.7k applications, trailing only India (171.8k). This places Nigeria ahead of other countries like the Philippines (29.5k), Ghana (36.2k), Pakistan (48.4k), and Zimbabwe (50.3k).

    Nigeria, Zimbabwe, and Ghana were the top African countries seeking work in the UK in 2023.

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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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  • 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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    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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  • Nigerians spent ₦56.6 million last weekend seeing two blockbuster movies — #Barbie and #Oppenheimer. Popularly called Barbenheimer, they were released simultaneously on July 21, 2023. Barbie made 129% more than Oppenheimer in their first weekend.

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  • The 2024 Global Peace Index reveals a decline in peacefulness in 97 countries, the highest since the index began.

    Nigeria is among the nations affected by regional conflicts and rising violence. With a peace index score of 2.91, Nigeria is facing increasing challenges.

    A deteriorating peace score impacts foreign investment and economic stability. Global economic losses due to violence reached $19.1 trillion in 2023.

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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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Other Insights

In 2022, Africa accounted for only 3.9% (1.4b tonnes) of the world's CO2 emissions from fossil fuels, with Asia being the primary contributor at 19.1b tonnes. This chart shows the variations in regional contributions to global Carbon (CO2) emissions over the past ten years.

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The top ten most populous countries as of 2022 emitted a total of 23b tonnes of CO2 from fossil fuels, with China accounting for 49%, and the US, 22%. Pakistan, Nigeria, and Bangladesh each contributed less than 1% of the total.

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Although Nigeria had the third highest number of learners on Coursera enroled in courses related to science, technology, engineering, and mathematics (STEM) as of March 2023, the country had the highest year-on-year increase — almost double.

Five African countries were in the top ten increasing STEM learners on the e-learning platform.

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What fields were Nigerian students in the US enroled in during the 2022/2023 academic year?

Science, Technology, Engineering, and Mathematics (STEM) fields took centre stage, collectively constituting a substantial 61% of the Nigerian student body.

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In the third quarter of 2023, Nigeria collected a record ₦948 billion in Value Added Tax, the biggest in any quarter recorded from 2013. This data, spanning from Q1 2013 to Q3 2023, shows a consistent upward trajectory in VAT collections over the years.

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Nigerians spent ₦56.6 million last weekend seeing two blockbuster movies — #Barbie and #Oppenheimer. Popularly called Barbenheimer, they were released simultaneously on July 21, 2023. Barbie made 129% more than Oppenheimer in their first weekend.

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Did you know? From Hausa and Igbo to Yoruba and others, Nigeria boasts more than 500 spoken languages, making it one of the world's most linguistically diverse countries. Here are the top ten countries with the most living languages as of 2022.

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Seychelles has the most powerful passport in Africa in 2023, with visa-free access to 155 countries and territories, followed by Mauritius (148). Nigerian passport holders have visa-free access to 46 countries, one of the lowest in Africa. Africa's most powerful passports in 2023 by the number of travel destinations passport holders can travel to visa-free:

Seychelles (155), Mauritius (148), South Africa (106), Botswana (89), Namibia (81), Lesotho (79), Eswatini (77), Kenya (76), Malawi (75), Tanzania (73).

Africa's least powerful passports in 2023 by the number of travel destinations passport holders can travel to visa-free:
Liberia (51), Djibouti (49), Ethiopia (47), Nigeria (46), South Sudan (46), DR Congo (45), Eritrea (44), Sudan (44), Libya (41), Somalia (35).

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Singaporean passport holders can travel visa-free to 192 countries and territories, making the country first in Henley & Partners' Global Passport Ranking for 2023. Of the top 15 most powerful passports, 12 are European. Here are the most powerful passports in 2023.

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In the past 13 years, Africa's port activity has grown steadily from handling 22.8 million containers in 2010 to 35.8 million in 2022.

Asia's bustling ports outpaced the world, handling nearly 6 billion containers since 2010, and 561 million in 2022.

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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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Abdulsamad Rabiu’s wealth has consistently increased for 4 consecutive years since 2020. Aliko Dangote, on the other hand, experienced 3 consecutive years of wealth growth starting from 2021. Mike Adenuga's wealth recorded growth in 2021 and 2022, but it took a downturn in 2023.

Abdulsamad Rabiu's financial journey has been particularly noteworthy, with his wealth witnessing a substantial surge from $1.2b in 2014 to $8.2b in 2023. This growth has seen him surpass Mike Adenuga and become the country's second-wealthiest individual as of 2023.

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Eurobond issuance by African countries (2024)
  • South Africa issued $3.5 billion, making up over a quarter (25.6%) of all issuances on the continent.
  • South Africa, Côte d’Ivoire, and Nigeria issued $8.3 billion, accounting for 61% of Africa’s total Eurobond issuance in 2024.
  • Despite economic uncertainties, Nigeria remains an active player in international markets, issuing $2.2 billion in Eurobonds.
  • Francophone West Africa has a strong presence as Côte d’Ivoire, Senegal, and Benin collectively issued $4.4 billion, highlighting their growing role in Africa’s debt markets.
  • At $0.75 billion and $0.55 billion, respectively, Benin and Cameroon still secured external financing, but at significantly lower levels than their larger counterparts.
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Key takeaways:
  • The third quarter of 2023 displayed an unusually low tax payment of ₦104.9 million.
  • Tax contributions stabilised once again in Q4 2023 and maintained a robust presence in 2024, especially in Q1 and Q3.
  • Beginning at ₦1.99 billion in Q1 2021, BUA Foods’ income tax payments displayed fluctuations up until 2024.
  • Tax payments for BUA Foods remained relatively stable between 2021 and 2022.
  • The peak tax payments occurred in Q2 2023 at ₦7.09 billion and Q1 2024 at ₦6.54 billion.
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Key takeaways:
  • The tax-to-GDP ratio reached its peak in 2022/23 at 24.9%, signifying enhanced efficiency in tax collection.
  • Throughout the past two decades, the percentage of tax revenue relative to GDP has exhibited significant stability.
  • The tax revenue as a proportion of GDP has fluctuated between 21% and 25% over the last twenty years.
  • Notable declines occurred during global economic downturns, such as the financial crisis of 2008-2009 and the COVID-19 pandemic.
  • The recent years (2021-2024) reflect a robust recovery, with tax revenue percentages approaching peak levels.
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  • Shoprite leads in geographical presence, with stores in 13 Nigerian states, followed by Marketsquare with 11 states.
  • Everyday Supermarket is the only other chain with a presence in at least five states, while the majority of other brands are in just four or fewer states.
  • Most retail chains in Nigeria remain regionally concentrated, with only a few achieving significant national coverage.
  • The presence of only a few nationwide chains may present an opportunity for expansion by emerging retailers.
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  • Bokku! Mart dominates the retail landscape with 123 locations, nearly three times the count of the second-largest chain, Addide, which has 44 stores
  • Marketsquare, Justrite, and Shoprite round out the top five with 36, 31, and 23 stores, respectively, indicating a competitive yet fragmented retail sector
  • Most retail chains have fewer than 25 stores, with 13 out of the 18 listed having fewer than 15 stores
  • Traditional supermarket names like Shoprite and Game face competition from local brands
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  • 2G remains the dominant network, covering 94.14% of Nigeria’s population, ensuring basic connectivity across the country.
  • 3G has strong penetration at 89.42%, serving as a bridge between legacy and modern networks.
  • 4G coverage reaches 84.19%, reflecting growing adoption but still lagging behind older technologies.
  • 5G penetration is extremely low at just 11.80%, indicating that its rollout is still in its infancy and mostly limited to urban areas.
  • The high coverage of older networks suggests continued reliance on legacy infrastructure, particularly in rural and underserved areas.
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