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Popular Insights
  • As of December 2023, Johannesburg had the highest number of millionaires (12,300) in Africa; Cape Town followed with 7,400 millionaires. South Africa dominated the list, with its cities and regions claiming top spots.

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    Nigeria collected nearly ₦5 trillion income tax from companies in 2023. The amount collected in 2023 is 3.5x the collections in 2015 and 73% more than in 2022. Here are Nigeria's company income tax collections since 2015.

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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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  • 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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Other Insights
  • Egypt dominated African cotton production for decades, from the 1960s to the early 2000s, standing far ahead of other African countries in both volume and quality.
  • The early 2000s marked a major turning point, as West African countries — especially Burkina Faso and Mali — began to overtake Egypt in total production.
  • Burkina Faso emerged as the new cotton leader between 2005 and 2015, topping production in key years like 2005, 2006, 2008, 2009, and 2012–2015, and later reclaiming the top spot in 2020 and 2022.
  • Mali built its cotton strength after 2015, becoming Africa’s number one producer multiple times, peaking at over 334,000 tonnes in 2019.
  • Benin and Côte d’Ivoire quietly closed the gap throughout the 2010s, consistently ranking in the top three, even though they didn’t dominate the number one spot.
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Top 10 countries by African Infrastructure Development Index (AIDI), 2024
  • Seychelles leads Africa with a near-perfect AIDI score of 99.77.
  • Egypt and Libya follow with strong performances of 91.43 and 85.84, respectively.
  • Tunisia ranks 6th with a score of 74.18, showing consistent infrastructure growth.
  • Morocco and Algeria, despite being major economies, scored below 75.
  • Botswana rounds out the top 10 with a score of 42.13, nearly double Nigeria’s score.
  • Nigeria, despite its economic size, scored just 25.70, far below the continental leaders, highlighting major infrastructure gaps.
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Seychelles score - African Infrastructure Development Index (AIDI), 2003 - 2024
  • Seychelles' AIDI score more than doubled between 2003 (47.43) and 2024 (99.77).
  • The score crossed the 70-point mark in 2009 and jumped past 90 in 2013.
  • Between 2012 and 2024, the country maintained an AIDI score above 89, showing long-term infrastructure strength.
  • From 2003 to 2008, the score rose steadily each year, averaging more than 2 points annually.
  • The last five years (2020–2024) showed minimal fluctuation, with scores above 98 every year.
  • This performance positioned Seychelles as Africa’s most infrastructure-ready nation in 2024.
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Nigeria's score - African Infrastructure Development Index (AIDI), 2003 - 2024
  • Goodluck Jonathan's era (2010–2015) delivered the highest AIDI growth, with a CAGR of 6.84%, more than double that of his successor.
  • Muhammadu Buhari’s administration saw steady but slower growth, with a CAGR of 2.63%, increasing the score from 20.60 in 2016 to 25.70 in 2024.
  • Musa Yar’Adua’s brief tenure (2007–2010) still managed a solid CAGR of 4.26%, indicating promising momentum that was cut short.
  • Nigeria's AIDI score rose from 8.61 in 2003 to 25.70 in 2024, nearly tripling in two decades.
  • Obasanjo’s tenure saw the slowest growth, with only a 2.59% CAGR, suggesting limited infrastructure expansion in the early 2000s.
  • The fastest absolute annual increase occurred between 2010 and 2014, when scores jumped by over 2 points per year.
  • Despite steady growth, Nigeria's 2024 score of 25.70 still places it far from top performers in Africa, showing that significant infrastructure gaps remain.
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Average monthly cellular mobile data consumption per smartphone worldwide, 2024
  • Sub-Saharan Africa has the lowest mobile data usage globally, at 6.7 GB/month, which is less than one-third of the global average.
  • India, Nepal, and Bhutan top the global chart with the highest data consumption at 36 GB/month, signalling deep mobile integration in daily life.
  • Gulf Cooperation Council countries follow closely with 31.9 GB/month.
  • Western Europe and North America share the same high usage rate of 25.8 GB/month, indicating mature digital economies with consistent connectivity.
  • Latin America also lags, though still more than twice ahead of Sub-Saharan Africa at 15.2 GB/month.
  • The Middle East and North Africa surpass the global average too, at 22.7 GB/month, further highlighting the unique lag of Sub-Saharan Africa in mobile data use.
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Estimated number of residential households in Lagos State by LGA (2024)
  • Alimosho leads by far with 1,120,776 households—more than 400,000 households ahead of second-placed Oshodi Isolo (639,866).
  • Oshodi Isolo, Ikeja, and Ojo each have over 390,000 households, positioning them as Lagos’ other major residential hubs.
  • Lagos Island, despite its popularity and commercial relevance, has the fewest households at just 27,199.
  • Ibeju-Lekki, often seen as a fast-developing area, currently has only 71,496 households, highlighting its future potential.
  • Mushin, Surulere, and Ifako Ijaiye all have over 280,000 households each, forming a mid-tier residential cluster worth noting for service providers and real estate developers.
  • Coastal and outer LGAs like Badagry and Epe still reflect moderate household numbers, potentially constrained by infrastructure and distance from central business districts.
  • The gap between top and bottom LGAs is wide, showing Lagos’ uneven urban spread and pointing to both opportunities and challenges in housing development, planning, and equitable service delivery.
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Number of days of the pontificates of past popes from the 15th century to 2025
  • Pius IX served the longest papacy from the 15th century to 2025, with 11,465 days, over three decades.
  • John Paul II comes in second with 9,658 days, guiding the Church through some of the most politically charged eras of the 20th century.
  • Leo XIII is third, serving 9,275 days, during a time of major global industrial and philosophical shifts.
  • Only three popes have served more than 9,000 days.
  • Modern popes like Francis I and Paul VI managed to serve over 4,700 and 5,500 days, respectively, reflecting continued longevity in the modern Church.
  • The 17th and 18th centuries saw multiple popes—Urban VIII, Clement XI, and Pius VI—with pontificates exceeding 7,000 days.
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Burkina Faso’s score - African Infrastructure Development Index (AIDI), 2003 - 2024
  • Burkina Faso's AIDI score increased by over 10 points between 2003 (11.36) and 2024 (22.11).
  • The country experienced notable improvements between 2010 and 2012, with scores rising from 12.72 to 14.25.
  • The period between 2018 and 2024 showed the most consistent yearly growth, climbing from 17.51 to 22.11.
  • Between 2007 and 2008, Burkina Faso saw one of its smallest improvements, with only a 0.38-point increase.
  • The country's AIDI score crossed the 15-point mark in 2013 and has not dropped below it since then.
  • Between 2019 and 2024 alone, Burkina Faso added nearly 5 points to its score, showing accelerated development efforts.
  • Despite positive growth, the 22.11 score in 2024 still reflects major infrastructure deficits when compared to an ideal score of 100.
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  • Wizkid's Morayo leads the pack with 12.12 million first-day streams—30% more than the runner-up, 5ive (9.29M).
  • The top three singles (Morayo, 5ive, Lungu Boy) together account for 27.29M streams, or 45% of the combined 46.75M total.
  • Streams fall nearly 50% between 3rd (5.88M) and 4th place (Timeless, 4.91M), highlighting a sharp mid-chart taper.
  • Even #10 (S2) amassed over 2M first-day spins, showing strong baseline engagement across diverse artists.
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Key Takeaways: 

  • The US' trade deficit with Nigeria narrowed significantly, shifting from a $5.14 billion deficit in 2017 to a $1.69 billion surplus in 2024.
  • US goods exports to Nigeria reached $4.2 billion in 2024, representing a 92% increase from the $2.2 billion recorded in 2017.
  • US goods imports from Nigeria totalled $5.9 billion in 2024, a 20% decrease from the $7.3 billion recorded in 2017.
  • The COVID-19 pandemic severely disrupted bilateral trade in 2020, but both imports and exports began recovering steadily from 2021 onwards.
  • By 2024, trade had rebounded substantially, with US imports from Nigeria reaching $5.87 billion and exports to Nigeria reaching $4.17 billion.
  • Despite experiencing persistent trade deficits from 2017 through most of the period, the US achieved trade surpluses with Nigeria in 2020 and 2021.
  • Total goods trade between the US and Nigeria ranged from $4 billion to approximately $10 billion.
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Key takeaways:

  • Zenith Bank Plc led the profitability ranking with a Profit After Tax (PAT) of ₦1.03 trillion.
  • Guaranty Trust Holding Company followed closely with ₦1.02 trillion in PAT.
  • Each of the top six banks recorded profits exceeding ₦600 billion.
  • The total PAT for the top ten banks rose by 53%, from ₦3.39 trillion in 2023 to ₦5.54 trillion in 2024.
  • FCMB Group Plc was the only bank among the top ten to record a year-on-year decline in PAT.
  • Ecobank, First Holdco, Fidelity Bank, and Wema Bank each recorded over 100% growth in PAT compared to 2023.
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Key takeaways:

  • Ecobank Transnational Incorporated ranks first with total assets of ₦43.3 trillion, marking a 67% increase from 2023.
  • Access Holdings Plc ranked the second-largest bank in 2024, as against the first in 2023.
  • The combined assets of the top five banks amount to ₦171.6 trillion, a 55% increase from 2023.
  • These five institutions represent the largest players in Nigeria’s banking sector by total assets as of 2023 and 2024.
  • The increase in total assets of the top ten banks ranges from 34% to 67% year on year.
  • The assets of the top ten listed public banks rose by 54% in 2024.
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  • Morocco leads Africa in FIFA rankings with 1694.24 points, placing 12th globally, signalling its sustained excellence on the international stage.
  • Senegal (1630.32 pts) and Egypt (1518.79 pts) are the next top African teams, ranked 19th and 32nd globally, respectively.
  • The point gap between top teams is significant: Morocco leads Nigeria (1481.35 pts) by over 210 points, reflecting performance consistency.
  • Five of Africa’s top 10 teams are from North Africa, showcasing the region’s dominance in tactical strength and international success.
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Key Takeaways:
  • Aradel Holdings led with ₦247.79 billion in PAT, marking a 361% year-on-year growth.
  • Oando and Seplat Energy followed with ₦220.12 billion and ₦214.25 billion in PAT, respectively.
  • Eterna Plc recorded a significant turnaround with 114% year-on-year growth, recovering from a loss in 2023.
  • The sector experienced widespread profitability gains, reflecting stronger market dynamics and operational improvements.
  • Profit after tax growth across the sector ranged from 15% to 361%.
  • Nigeria's oil & gas sector delivered a combined profit totalled ₦730 billion in 2024.
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Key Takeaways:
  • The sector’s total PAT rose by 28% from ₦31.68 billion in 2023 to ₦40.49 billion in 2024.
  • Chapel Hill Denham Nigeria Infrastructure Debt Fund remained the top earner with ₦19.59 billion, despite a modest 4% year-on-year decline.
  • Julius Berger and UPDC REIT also posted strong profits, contributing significantly to the overall performance.
  • UPDC Plc recorded the strongest profit growth, surging by nearly 278% from ₦221.5 million in 2023 to ₦836.9 million in 2024.
  • Ronchess Global Resources Plc significantly narrowed its losses by over 64%, though it remained in negative territory.
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Key Takeaways:
  • Seplat Energy recorded the highest EPS in 2024 at ₦385.61, up from ₦92.75 in 2023.
  • Aradel Holdings posted the strongest growth, with a 361% increase in EPS from ₦12.37 to ₦57.03.
  • Eterna PLC reversed its negative EPS in 2023, reporting ₦1.03 in 2024.
  • All listed companies reported positive earnings in 2024, compared to 2023.
  • Three companies grew their EPS by more than 200%.
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Key Takeaways:
  • SFS REIT reported the highest EPS in 2024 at ₦21.50, up from ₦14.50 in 2023.
  • UPDC Plc achieved the most significant growth, with EPS rising fivefold from ₦1.00 to ₦5.00.
  • Most companies posted improved EPS, reflecting stronger earnings and better shareholder returns.
  • Ronchess Global Resources reduced its loss per share by 68%, from -₦71.50 to -₦23.15.
  • Julius Berger and UPDC REIT recorded steady EPS growth of 23% year-on-year.
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Key Takeaways:
  • Meyer Plc recorded the highest EPS in 2024 at ₦59, up from ₦47.
  • Beta Glass had the largest year-on-year EPS growth, more than doubling from ₦10.74 to ₦22.71.
  • Among cement producers, Dangote Cement led with EPS rising to ₦29.74 from ₦26.47.
  • Notore Chemical Industries reduced its losses by 33%, improving EPS from -₦70.87 to -₦47.45.
  • Most listed firms recorded higher EPS, indicating improved profitability and operational efficiency.
  • Lafarge Africa, CAP Plc, and Berger Paints reported steady EPS growth.
  • Notore Chemical remained the only company with a negative EPS.
  • Austin Laz & Co maintained a flat EPS of zero for both years.
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