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  • Key takeaways:

    • In February 2025, Samsung and Apple dominate the mobile market in Africa.
    • Samsung leads with a 29.80% share of the continent's mobile market based on usage.
    • Apple ranks second with a 13.27% share, demonstrating resilience in markets sensitive to pricing.
    • Collectively, Chinese manufacturers hold more than 45% of the mobile market in Africa.
    • Brands under Transsion Holdings (Tecno, Infinix, Itel) together represent nearly 25% of the total market share based on usage.
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    The Federation Account Allocation Committee (FAAC) has distributed a total of ₦593 billion as derivation funds to nine oil-producing states in Nigeria. These funds are part of the statutory allocation intended to support states with significant contributions to the country's oil revenue. Delta State emerged as the largest beneficiary, receiving ₦193 billion, which constitutes 32.5% of the total allocation.

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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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  • 21% of the ₦17.67 billion lost to fraud in 2023 was recorded in October totaling ₦3.76 billion

    Fraud data submitted to the Nigeria Inter-Bank Settlement System by financial institutions in 2023 reveals that customers lost ₦17.67 billion across 95,630 cases, with the highest loss of ₦3.76 billion occurring in October 2023

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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
  • Lagos State’s IGR grew by 112%, from ₦384.26B in 2013 to a record ₦815.86B in 2023.
  • Revenue dipped to ₦268.22B in 2015 before recovering and steadily increasing.
  • A major jump occurred in 2019, with IGR rising from ₦382.18B to ₦646.61B in one year.
  • Despite a dip in 2022, IGR hit an all-time high in 2023, signalling a strong economic recovery.
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Key takeaways:
  • Throughout the decade, Nigeria saw a consistent decline in education funding as a percentage of GDP.
  • The most substantial allocation occurred in 2012 at 0.55% of GDP.
  • The lowest allocation was noted in 2022 at 0.35% of GDP.
  • There was a brief recovery from 2017 to 2018 before the downward trend resumed in 2019.
  • Over the decade, the overall reduction in education spending relative to GDP was approximately 36.5%.
  • Nigeria's education spending as a percentage of GDP is significantly lower than the UNESCO recommendation of 4-6% for developing nations.
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Key Takeaways:
  • Nigeria's total revenue decreased from 17.73% of GDP in 2011 to 9.09% in 2022.
  • The lowest point for the country’s revenue occurred in 2016, at only 5.12% of GDP.
  • Although there has been some recovery since 2016, revenue still falls well below the levels seen before 2015.
  • The sharpest decline took place between 2011 and 2016, with revenue dropping by over 12 percentage points.
  • In 2020, during the COVID-19 pandemic, there was a significant drop to 6.52%, followed by a period of recovery.
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Key takeaways:
  • February 2024 saw the largest month-on-month rise in inflation, climbing nearly 2% from 23.59% in January 2024.
  • Nigeria experienced brief periods of relief, with slight drops in core inflation during November 2023 and September 2024.
  • From May 2023 to December 2024, the inflation rate fluctuated within the 20% to 30% range.
  • December 2023 registered the highest inflation rate during the first eight months of the observed period.
  • The core inflation rate dropped to 22.59% in January 2025 from 29.28% in December 2024 due to the Consumer Price Index rebasing from 2009 to 2024.
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Key takeaways:
  • Libya's total revenue (85.78% of GDP) significantly surpassed all other African states.
  • Lesotho is noteworthy with the second-highest total revenue ratio at 48.12%.
  • Equatorial Guinea and Sao Tomé & Príncipe in Western Africa recorded total revenue of 30.79% and 25.38% respectively.
  • South Africa generated 27.74% of its GDP in revenue.
  • The top ten countries reported total revenue exceeding 28%.
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  • The South-South remitted ₦121.84B, making it one of the biggest net donors to the national VAT pool.
  • The region received only ₦52.49B, meaning it got back just 43% of its VAT contributions.
  • Rivers State alone remitted a staggering ₦90.21B (74% of the region’s total) but received only ₦11.01B (12.2% return), marking one of the worst VAT allocation disparities in Nigeria.
  • Cross River had the lowest VAT contribution (₦1.55B) but received ₦7.45B, a 380% gain, while Bayelsa, despite remitting ₦12.8B, received only ₦8.02B, less than lower-remitting states like Delta (₦9.05B).
  • Every state in the South-South received more than it remitted, except for Bayelsa and Rivers, with the latter being the only state to suffer a massive VAT deficit.
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