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    • The GDP contribution from the telecom sector increased from 14.13% in Q1 2023 to 16.36% in Q2 2024.
    • The highest contribution (16.36%) was seen in Q2 2024.
    • The telecom sector contributes significantly to GDP, maintaining values above 10% quarterly from Q1 2020 to Q3 2024.
    • The second quarter consistently contributed more to Nigeria’s GDP throughout the observed timeframe.
    • The first and second quarters of 2024 showed an improvement in the sector's contribution to GDP compared to the previous years.
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    Nigeria's VAT revenue has grown every year since 2013, reaching ₦3.6 trillion in 2023. The amount collected in 2023 exceeded 2022’s by ₦1.13 trillion — a 45% increase.

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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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    Countries by Global Innovation Index 2024

    The Global Innovation Index 2024 reveals a striking contrast in innovation performance between countries globally and across Africa. Switzerland leads the global rankings with an impressive score of 67.5, followed by Sweden (64.5) and the USA (62.4), highlighting their sustained investments in research, development, and technological advancement.

    In Africa, Mauritius takes the top spot with a score of 30.5, followed closely by Morocco (28.8) and South Africa (28.3). However, even Africa's most innovative nations achieve less than half the score of global leaders, indicating a significant innovation gap.

    Nigeria ranks 15th in the African ranking and 113th globally, out of 133 countries, with a score of 17.1.

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  • In addition to having one of the lowest populations on the continent, Mauritius boasts the greatest broadband penetration rate — 147.39% as of 2022 — of any country in Africa. The eastern African nation's broadband Internet subscribers surpassed its population in 2019.

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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
     
  • FGN bonds dominated: ₦1.07 trillion went to Federal Government Bonds, accounting for about 63% of total domestic debt servicing.
  • Treasury bills followed: Payments on NTBs reached ₦537.9 billion, making up roughly 31% of the total.
  • Sukuk and promissory notes together cost ₦90.8 billion, reflecting Nigeria’s mix of infrastructure and settlement instruments.
  • Green and savings bonds remained minimal, together below ₦5 billion, showing limited traction for retail and sustainability-focused debt.
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  • China (773M) and India (607M) together make up for about 40% of the world’s total labour force.
  • Nigeria ranks 5th globally with 113 million workers, the largest in Africa and only African country in the top 10.
  • Asia dominates, accounting for over 47% of global workers, highlighting the region’s population and production strength.
  • The U.S.A. (174M) ranks third, representing just about 5% of global labour but producing almost a quarter of global GDP, proving productivity, not size, drives wealth.
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  • The Federal Government’s share of total public debt rose from 79.5% in 2019 to 92.6% in 2025.
  • States’ share has more than halved, from 20.5% to 7.4% in six years.
  • Total public debt grew from $83.9 billion to $99.7 billion, peaking at $113.4 billion in 2023.
  • Nigeria’s debt burden is increasingly concentrated at the centre, amplifying federal repayment risks and reducing fiscal independence for states.
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  • Wealth-building dominates motivation: 45.4% cite “active wealth building” as their primary motive, and an additional 21.8% cite “long-term financial security”.
  • Payments and utility are minor drivers: Only 3.3% report “daily utility” and 2.2% “digital commerce” as their chief motive for using crypto.
  • Hedging and cross-border flows matter: 8.7% use crypto for currency hedging, and 4.1% for cross-border payments, showing a dual role of investment plus international value flows.
  • Nigerian retail users treat crypto like a conventional financial instrument rather than only as a means of payment or speculation.
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  • Nearly two-thirds (67%) of all crypto transactions in Nigeria are below ₦50,000, reflecting widespread use among everyday retail users.
  • The ₦15,000–₦25,000 band (28.2%) is the single largest group, showing consistent, small-scale engagement rather than high-value speculation.
  • Around 25% of users transact between ₦50,000 and ₦250,000, suggesting a growing middle class of more confident, mid-level investors.
  • Less than 3% of users transact above ₦1 million, confirming that Nigeria’s crypto market remains primarily retail-driven, not institutional or high-net-worth.
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  • A majority (67.2%) of Nigerian crypto users (17.7 million people) use digital assets mainly for investment and long-term financial growth.
  • Overall, 26.34 million Nigerians—over one in eight adults—actively use or hold cryptocurrency, giving the country the highest adoption rate globally.
  • About 18.4% (4.8 million) use crypto for everyday needs such as remittances, payments, and inflation protection.
  • 14.4% (3.8 million) identify as active traders, providing liquidity and earning income through market participation.
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  • Total public debt hits ₦152.4 trillion, marking another milestone in Nigeria’s expanding debt profile.
  • Domestic debt leads at ₦80.5 trillion, making up about 53% of total obligations.
  • External debt stands at ₦71.8 trillion, equivalent to roughly 47%, reflecting Nigeria’s ongoing exposure to foreign lenders.
  • The data signals growing fiscal dependence on local markets, as authorities seek to limit exchange rate risks while still financing deficits.
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  • Power supply remains the biggest challenge affecting Nigerian businesses, affecting 82.5% of firms nationwide.
  • Poor transport infrastructure limits operations for over a quarter of businesses.
  • Internet disruptions affect more than one in five firms, highlighting connectivity gaps.
  • Climate and water issues are emerging risks, with some firms reporting weather damage and supply shortages.
  • The survey covered 1,043 firms across Nigeria and reflects responses from business owners and top managers.
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  • The IMF’s new 2019 GDP base year added between $20 billion and $235 billion annually to Nigeria’s GDP from 1990–2025.
  • 2014 saw the biggest jump — an upward revision of $235.1 billion, raising GDP to $811.1 billion from $576.0 billion under the old base.
  • The rebased data consistently show 40–45% higher GDP values through the 2000s and 2010s, revealing a larger economy than earlier estimates.
  • The impact was strongest during Nigeria’s oil boom years (2007–2014), when rebasing captured fast-growing sectors like digital services, informal trade, and modular refining.
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  • Sudan ranks highest in Africa with 18 coup attempts, the most in the continent since 1950.
  • Burkina Faso, Burundi, and Sierra Leone follow closely with 11 attempts each.
  • Ghana and Guinea-Bissau have each experienced 10 coup attempts, ranking among the top six.
  • West Africa remains the most coup-prone subregion, accounting for 9 of the top 15 coups in the region.
  • Africa has witnessed 226 coup attempts between 1950 and 2025.
  • Most coup-prone countries share traits like weak institutions, governance failures, and economic hardship.
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  • Nigeria’s GDP has been rebased to a 2019 base year, raising its nominal value by about 40.8%, according to the IMF’s October 2025 update.
  • The revision includes new data on digital, informal, and service sectors, giving a fuller picture of the economy.
  • Nigeria ranked among the world’s top 20 economies in 1998, 2013, 2014, and 2015, peaking in 2014 at $811 billion.
  • Despite later declines from currency depreciation and slower growth, the revision reaffirms Nigeria’s position as Africa’s largest economy.
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  • For every $1 Ghana earns from pharmaceutical exports, it spends about $22 on imports, underscoring the country’s overwhelming dependence on foreign pharmaceutical products.
  • Ghana is a net importer of medicine and has been for nearly two decades.
  • By 2015, Ghana’s pharmaceutical imports reached its peak with $348.12m while exports were $3.10m, meaning imports were nearly 100 times larger.
  • In 2016, Ghana recorded its highest-ever export performance at $78.33 million, but even then, imports stood at $154.96m, almost two times higher.
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  • Nigeria remains the leader at U-17 level with five titles, more than any other nation.
  • Brazil follows closely with four wins, making the two countries the dominant forces in youth football history.
  • Only Mexico and Ghana have won the tournament more than once, highlighting how rare repeated success is at this level.
  • The remaining winners — Germany, England, Switzerland, France, Saudi Arabia, Portugal, and the former Soviet Union — show that victory is widely distributed but rarely sustained.
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  • APC increased its number of sitting governors from 19 in 2019 to 26 in 2025.
  • PDP saw a significant decline, dropping from 16 governors in 2019 to 6 by 2025.
  • APC’s share of governors rose from 52.8% in 2019 to 72.2% in 2025.
  • As of May 2023, after the 2023 general elections, 13 sitting governors were still members of the PDP, but by 2025, five of these governors had defected to the APC, one had defected to
  • Accord, and one lost an election in 2024 to the APC.
  • Smaller parties (APGA, NNPP, LP, and Accord) appeared intermittently, each holding a single governorship.
  • By 2025, Nigeria’s governorship landscape was the most one-sided in recent years, heavily dominated by the APC.
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  • The U.S Department of Homeland Security specifies that the data reflects the “worst of the worst” criminal aliens arrested by ICE, not general immigration arrests.
  • Nigeria leads the list with 40 arrests, the highest among all African nationals reported.
  • Somalia (27) and Liberia (21) follow, forming a concentrated top tier.
  • Most countries report fewer than 10 arrests, showing a sharp decline beyond the top group.
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  • Asamoah Gyan leads Africa’s all-time World Cup scoring chart with six goals in eleven games, making him the most prolific African player in World Cup history.
  • Roger Milla follows closely with five goals in ten matches.
  • Nigeria’s Ahmed Musa is Africa’s highest-scoring active World Cup player with four goals in just seven matches.
  • Despite a legendary club career, Samuel Eto'o scored only three goals in eight matches.
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  • Egypt was the first African and Arab nation to play at the FIFA World Cup, debuting in 1934.
  • Despite this early start, Egypt has qualified for only three tournaments since: 1990, 2018, and 2026.
  • Egypt failed to qualify for ten consecutive World Cups from 1938 to 1986.
  • Another long drought followed, with the team missing every World Cup tournament between 1994 and 2014.
  • Each of Egypt’s three World Cup appearances to date (1934, 1990, and 2018) ended in group-stage elimination.
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  • Ghana first appeared at the World Cup in 2006 after missing all 17 previous editions.
  • They advanced to the second round in 2006, a standout entry for a first-time participant.
  • In 2010, Ghana reached the quarter-finals, marking their strongest performance to date.
  • 2018 was the only missed World Cup since their debut, reflecting consistent qualification success.
  • They have already qualified for the 2026 World Cup.
  • Ghana has made five qualifications within 20 years, showing remarkable frequency for a team that only debuted in 2006.
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