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  • There were over a hundred Internet Service Providers in Nigeria and only 4 have over 10,000 active subscribers as of Q3 2022. Spectranet led with 115, 103 active subscribers. No other operator has up to 20,000 active subscribers.

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    In 2023, Nigeria experienced an overall decrease of 24% in road accidents compared to the previous year. All vehicle categories contributed to this decline except Luxury Bus, which recorded 13 cases more than in 2022, and Bicycle, which recorded 4 more than in 2022. Commercial vehicles recorded 68% of the total road accidents in the country, followed by private vehicles with 31%; 194 government vehicles and 4 diplomat vehicles were involved in road accidents in the year.
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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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    Inflation rate in Nigeria increased to 31.7% in February 2024. Nigeria has the 13th highest inflation rate out of 186 countries and territories as of February 2024.

    The data showcases Argentina leading with 276%, followed by Lebanon and Syria. Seven of the top fifteen are African.

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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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    Top ten African countries by estimated number of films produced annually

    The Nigerian movie industry, mainly financed via public or private funding and international grants, produces the most films in Africa, yearly. Nigeria produced more than double the number of films that the Ghanaian and Kenyan movie industries produce annually.

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  • Surfshark's 2023 Digital Quality of Life (DQL) Index surveyed Internet affordability and four other key factors influencing the digital well-being of 121 countries, including 25 from Africa. Per the finding, Angola leads Africa in terms of Internet affordability 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.

    See more
Other Insights
  • The NGX premium board accommodates an elite list of companies that meet specific requirements
  • Six of the eight companies are audited by EY and KMPG, with each firm auditing three companies
  • PwC audits the remaining two companies on the premium board
  • Deloitte is the only big four firm that does not audit a premium board company
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  • Listed banking groups in Nigeria are all audited by the big four
  • KPMG is the top auditor for the industry, auditing five companies
  • Deloitte audits four companies, close behind KPMG
  • EY and PwC audit three of the five tier one banks
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Nigeria's gross external reserves (2005 - 2024)
  • External reserves hit a peak of $53 billion, a level that hasn’t been reached since.
  • Reserves have moved between $27 billion and $43 billion in the last decade.
  • At $27 billion, 2016 was the most challenging period, coinciding with an economic recession and foreign exchange crises.
  • Reserves rebounded after 2016, reaching as high as $42.6 billion in 2019.
  • With $39.3 billion in reserves as of September 2024, Nigeria is in a stronger position than in some past years but still below historical highs.
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  • The Gambia, Guinea-Bissau, Niger, Sierra Leone, and Guinea had the most stable electricity supply from 2000 to 2021.
  • Cape Verde experienced the highest electricity fluctuations, with values ranging from 2981.5 kWh/person to 7692.9 kWh/person.
  • Nigeria, Ghana, Benin, Mali, and Cape Verde had the most unstable electricity supply, with significant year-to-year variations.
  • Nigeria’s electricity supply averaged 2161.7 kWh/person but remained highly inconsistent, fluctuating between 1250.4 and 2707.9 kWh/person.
  • Mali had the lowest electricity availability among unstable nations, averaging 757.4 kWh/person, with a drop as low as 350.7 kWh/person.
  • Countries with stable electricity had lower fluctuations, with The Gambia leading at 957.8 kWh/person and Guinea reaching 1110.8 kWh/person.
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  • Ghana's under-5 mortality rate at 42.3 deaths per 1,000 live births, still higher than the SDG target of 25 deaths per 1,000 live births.
  • Cape Verde achieved the most dramatic reduction in under-5 mortality rates, cutting its rate by over 93%, from 174.8 in 1960 to 12.3 in 2022, the lowest in West Africa.
  • Sierra Leone had the highest under-5 mortality rate in 1960, at 390.1 deaths per 1,000 live births, marking it as one of the most challenging places for child survival in the region at the time.
  • Liberia experienced a troubling increase in under-5 mortality rates during the 1980s, peaking at 263.8 in 1990, a period marked by civil war and economic instability.
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  • Cabo Verde maintained relatively stable unemployment rates, averaging around 13% from 1991 to 2015.
  • Nigeria's unemployment rate climbed to 5.742% in 2020, marking an increase compared to previous years.
  • Burkina Faso saw a sharp rise in unemployment, reaching 5.389% in 2022, the highest in its recorded history.
  • Niger experienced extreme unemployment fluctuations, with a peak of 3.1% in 2005 and a drastic drop to 0.316% in 2011.
  • Ghana experienced its highest unemployment rate of 10.456% in 2000.
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