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  • Between 2013 and 2022, Nigeria exported crude oil worth ₦123 trillion, with yearly figures ranging from ₦6.8 trillion to ₦21.1 trillion, and the highest (₦21.1 trillion) recorded in 2022. This chart shows the annual values.

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    In Q4 2023, Spectranet maintained its top position as Nigeria's biggest internet service provider with nearly 114k active subscribers, holding 43% of the market share. FiberOne followed with 10% of the market.

    Starlink increased its subscriber base by 113% to claim the 3rd position with 9% of the market.

    Here are Nigeria's top internet service providers by active subscribers in Q4 2023.

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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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  • 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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  • 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
  • Production dipped sharply in 2022, with the steepest quarterly decline of –16.08% in Q3, before recovering at year-end.
  • 2023 marked a rebound year, highlighted by strong quarterly growth of 18.85% in Q3, lifting production back above 1.5 mbpd.
  • 2024 showed relative stability, with modest fluctuations; production only briefly fell below 1.5 mbpd before gradually recovering.
  • By Q2 2025, output hit 1.68 mbpd, the highest in the series, supported by consistent growth in three straight quarters.
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  • Nigeria received a total of 880 H-1B visas in FY 2024, averaging about 73 per month.
  • December 2023 was the peak month, with 118 issuances, while June 2024 recorded the lowest at just 46.
  • Issuances fluctuated throughout the year, reflecting no clear upward trend but significant month-to-month volatility.
  • Despite peaks and dips, overall activity remained steady, with most months ranging between 60–90 approvals.
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  • Nigeria ranked first in Africa, with 880 H-1B visas issued in FY 2024, far ahead of Ghana (499) and Egypt (364).
  • East and Southern Africa featured prominently, with Kenya (320), South Africa (208), and Zimbabwe (132) among the top 10.
  • North African representation was modest, with Morocco (78) and Egypt (364) being the only countries in the region on the list.
  • Despite these numbers, Africa’s collective total is marginal globally, especially compared to India’s ~150,000 issuances and China’s large volumes.
  • President Donald Trump’s $100,000 fee for new U.S. H-1B skilled worker visas will have limited impact on Africa, which has historically received only a small fraction of these visas.
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  • Ghana secured 499 H-1B visa approvals in FY 2024, averaging about 42 per month.
  • April 2024 was the highest month with 80 visas, while September 2024 dropped sharply to just 16.
  • Visa issuances were relatively steady until early 2024, before a mid-year surge and late-year decline.
  • Ghana ranks second in Africa for H-1B visas, behind Nigeria, reflecting its growing pool of skilled professionals abroad.
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  • 2024 recorded the highest number of H1-B issuances to Nigerians at 880, nearly double 2022’s level.
  • Issuances dropped sharply to 231 in 2020 and 197 in 2021, marking the lowest levels in nearly two decades.
  • Between 2006 (483) and 2017 (354), there was a gradual decline in approvals before a steeper fall in 2020.
  • From 2021 to 2024, issuances surged by more than 340%, suggesting strong demand for U.S. tech and professional opportunities among Nigerians.
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  • Nigeria ranked first in Africa, with 880 H-1B visas issued in FY 2024, far ahead of Ghana (499) and Egypt (364).
  • East and Southern Africa featured prominently, with Kenya (320), South Africa (208), and Zimbabwe (132) among the top 10.
  • North African representation was modest, with Morocco (78) and Egypt (364) being the only countries in the region on the list.
  • Despite these numbers, Africa’s collective total is marginal globally, especially compared to India’s ~150,000 issuances and China’s large volumes.
  • President Donald Trump’s $100,000 fee for new U.S. H-1B skilled worker visas will have limited impact on Africa, which has historically received only a small fraction of these visas.
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  • The US granted 219,813 H-1B visas in FY 2024 to skilled workers worldwide.
  • India received nearly 70%, followed by China at 14.5%.
  • The Philippines (1.6%), South Korea (1%), Mexico (0.9%), and Nigeria (0.4%) received smaller shares.
  • 427,091 petitions were filed in 2024, 399,402 approved, but only 219,813 visas issued, showing the difference between approvals and actual visas used.
  • Starting September 21, 2025, a $100,000 fee on new H-1B petitions will be implemented, exempting existing visa holders and renewals, potentially impacting top recipient countries like India and China.
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  • Nigeria’s sports budget rose sharply to ₦113 billion in 2025, tripling from the 2024 figure.
  • The 2025 allocation represents a 243.8% increase compared to the previous year.
  • Youth and Sports budget allocations were relatively stable between 2021 and 2023, averaging about ₦186 billion.
  • The splitting of the Ministry of Youth and Sports budgets in 2024 likely contributed to the steep dip that year.
  • The rebound in the sports development budget in 2025 signals government re-prioritisation of sports development.
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  • Africa’s cybersecurity score increased by 171% between 2017 and 2024.
  • The continent’s score rose from 21 in 2017 to 57 in 2024
  • Africa has reduced the gap with global averages, reducing the difference from 15 points in 2017 to 9 points in 2024.
  • The global cybersecurity score rose from 36 in 2017 to 66 in 2024.
  • Africa’s most notable leap was between 2021 (35) and 2024 (57), showing accelerated progress in recent years.
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  • Private sector credit growth peaked at 13.5% in Q4 2023.
  • Growth remained stable between 12 and 13% throughout 2022 and 2023.
  • A sharp decline began in 2024, dropping to 11.5% in Q1.
  • Credit growth plunged to 5.4% in Q2 2024, showing a steep contraction.
  • The lowest point was Q4 2024, at just 0.9%.
  • A rebound started in early 2025, with growth rising to 2.4% in Q1.
  • By Q2 2025, private sector credit growth recovered to 4.4%, though still far below its 2023 highs.
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  • Private households hold the largest share of credit at 27.8%.
  • Trade accounts for 14.4% of outstanding private sector loans.
  • Manufacturing makes up 12.3% of the private sector credit share.
  • Combined, households, trade, and manufacturing absorb 54.5% of all private credit.
  • Consumer durables contribute 9.4% of outstanding loans.
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  • Nearly three-quarters of all startup funding in Africa came from equity financing at 74.1%.
  • A significant 25.2% of funding was raised through debt, showing increasing reliance on loans and credit.
  • Only 0.7% of startup funding came from grants, reflecting limited non-dilutive capital support.
  • The high share of equity signals sustained investor belief in Africa’s startup ecosystem despite global headwinds.
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  • Asia and Europe have consistently represented over 70% of Nigeria’s imports since 2013.
  • Asia’s share of imports reached a record 53.5% in H1 2025.
  • Europe contributed 23.1% of total imports in H1 2025.
  • Imports from the American region averaged between 10%–14% over the period.
  • Africa’s import share remained below 10%, showing limited regional trade.
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  • The Netherlands has mostly been the top European import source, with Nigeria averaging 20% of annual imports from the region.
  • Netherlands' highest share of Nigeria's imports was 27.9% in 2018.
  • The United Kingdom consistently contributed around 5–15% of Nigeria’s European imports.
  • Germany’s share remained relatively stable at 5–10% over the years.
  • France, Italy, and Spain maintained smaller shares, mostly under 7%.
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  • Imports have consistently exceeded 85% of Nigeria's manufactured goods trade since 2017.
  • In H1 2025, imports accounted for 93.3% of the total ₦16.5 trillion trade.
  • Nigeria’s export share in the manufactured goods trade was only 6.7% in H1 2025.
  • The highest export share in the past eight years was 14.8% in 2019.
  • Total manufactured goods trade grew from ₦4.9 trillion in 2017 to ₦29.1 trillion in 2024.
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  • Nigeria’s food and beverage imports increased almost ninefold, from ₦0.7 trillion in 2013 to ₦6.6 trillion in 2024.
  • Imports remained relatively stable between 2015 and 2019, averaging around ₦1.1–₦1.6 trillion.
  • A major spike occurred in 2021, when imports surged by 62%, reaching ₦2.9 trillion.
  • Overall, the trend underscores Nigeria’s ongoing challenge of reducing dependency on imported food and beverages despite policies aimed at self-sufficiency.
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  • Nigeria imported a total of ₦60.6 trillion worth of goods in 2024.
  • Fuels and lubricants dominated imports with ₦22.7 trillion (37.4%).
  • Industrial supplies accounted for ₦13.4 trillion (22.1%), showing strong demand for production inputs.
  • Capital goods and parts represented ₦9.1 trillion (15%).
  • Food and beverage imports reached ₦6.6 trillion (10.9%), signalling a high reliance on external food sources.
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  • ECOWAS’s share of Nigeria’s African imports grew to 32.4% in H1 2025, up from 15.0% in 2021.
  • The lowest ECOWAS import share was recorded in 2014 (8.8%), showing significant progress since then.
  • The share of ECOWAS imports has more than doubled since 2021, signalling stronger regional trade ties.
  • Nigeria’s total imports from Africa rose to ₦1.8 trillion in 2025 (H1), indicating expanding trade activity.
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