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  • In Q2 2023, Nigeria collected 10% more VAT than in the first quarter, 30% more than in Q2 2022, 53% more than in Q2 2021, and 555% more than 40 quarters ago in Q2 2013. Do you see VAT collections reaching one trillion naira soon?

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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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  • 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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  • Top ten cocoa-producing countries in the world in 2020

    In 2020, 5.2 million metric tons of cocoa were produced globally, with four African countries — Ivory Coast, Ghana, Nigeria, and Cameroon — accounting for 68% of the produce.

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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
Internet Adoption by Region (as % of Total Population), Jan 2025
  • With a 98% adoption rate, Northern Europe leads the world in digital inclusion.
  • Eastern Africa (29%), Middle Africa (34%), and Western Africa (43%) have the lowest adoption rates.
  • Southern and Eastern Europe boast over 90% adoption, proving that even outside the wealthiest nations, high connectivity is achievable.
  • While Eastern Asia (79%) and South-Eastern Asia (78%) show strong progress, Southern Asia lags behind at 54%.
  • Oceania maintains a solid 78% adoption rate, quietly outperforming many regions.
  • With 70% adoption, the Caribbean outperforms parts of Asia and Africa.
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Key Takeaways:

  • Cocoa products, including paste, butter, and beans dominated the US' agricultural imports from Sub-Saharan Africa in 2024, making up nearly one-third of the total.
  • Other major import categories included coffee, seafood, oilseed meals, and tree nuts, rounding out the top six.
  • The top 10 agricultural imports accounted for 74% of all the US' agricultural imports from the region.
  • Each of the top 10 products had an import value exceeding $120 million.
  • From SSA, Côte d'Ivoire and Ghana were the leading suppliers of cocoa products to the US in 2024.
  • The top three products together represented 41% of the total agricultural imports from the region.
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Key Takeaways:

  • Nigeria’s outstanding debt to the IMF has reduced from SDR 2.45 billion in March 2023 to SDR 306.81 million by March 2025.
  • The country has maintained a consistent quarterly repayment pattern, averaging SDR 306.8 million.
  • This steady repayment trend reflects Nigeria’s commitment to managing its external obligations.
  • At the current repayment rate, Nigeria is positioned to fully clear its IMF obligations by mid-2025.
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Key Takeaways:

  • Despite recent gains, Oando Plc's earnings before tax have declined by 222% over the past decade.
  • Major losses occurred in 2019 and 2020, with a rebound in 2021 and 2023.
  • The company demonstrated remarkable resilience by recovering to ₦103 billion profit in 2023.
  • The earnings before tax in 2024 fell by 54% from 2023.
  • The year-on-year growth rate from 2015 to 2024 was shown to be negative despite recording ₦47.8 billion in 2024, as against -₦39.1 billion in 2015.
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Key Takeaways:  

  • Argentina tops the list with SDR 31.1 billion in outstanding IMF credit.
  • The top three borrowers, Argentina, Ukraine, and Egypt, together hold over 45% of total IMF credit.
  • All 15 countries on the list have outstanding credit of at least SDR 1.4 billion.
  • African nations such as Kenya, Angola, Ghana, and Ethiopia rank among the top 15 IMF debtors.
  • The top 10 countries alone account for more than two-thirds of the IMF’s total outstanding credit.
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Key Takeaways:

  • Egypt leads African nations in IMF debt, with SDR 8.63 billion in outstanding credit.
  • The combined debt of these 10 countries represents 24% of the IMF’s total outstanding credit globally.
  • East African nations, Kenya and Ethiopia, hold a combined SDR 4.5 billion in IMF credit.
  • West Africa is strongly represented with Côte d'Ivoire, Ghana, Senegal, and Cameroon owing more than SDR 7.4 billion collectively.
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Key takeaways:

  • Cadbury Nigeria's total assets increased by 155%, from ₦28.4 billion in 2015 to ₦72.4 billion in 2024.
  • Assets remained relatively stable between 2015 and 2019, hovering around ₦28 billion.
  • Despite recent financial challenges, Cadbury Nigeria's asset base has more than doubled in the last decade.
  • Significant expansion began in 2020, with continued steady growth through 2024.
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Number of smartphone handsets in use around the world (2015 - 2025)
  • From 2.99B in 2015 to 7.42B in January 2025, the world has added more than 4.4 billion smartphone devices in a decade.
  • Annual growth dropped from a high of 23.1% in 2016 to 3.6% in 2025, a clear sign of global market saturation.
  • During 2016-2018, the world added nearly 2 billion new smartphones.
  • Since 2020, annual growth has been under 6%.
  • Most of the future growth will come from device upgrades or multiple device ownership, not necessarily new smartphone users.
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Number of individuals globally using the internet since the creation of the first website (1991 - 2025)
  • Between 1995 and 2000, internet users jumped from 39.4 million to 394 million, a 900% leap that marked the beginning of the digital era.
  • Just 14 years after the first website, over 1 billion people were online, showing how quickly the internet became essential.
  • Between 2010 and 2015, internet usage grew by 54.5%, slower than before but still powerful, especially in developing regions coming online.
  • With 5.6 billion users in January 2025, most of the world is now online, and future growth will be more about improving access, speed, and quality than just connecting new people.
  • Each phase had its catalyst. In the 1990s, it was websites and email. The 2000s brought broadband and Google. In the 2010s, it was smartphones. Now, it's AI, 5G, and IoT that are quietly shaping the future of internet use.
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CAGR of nominal GDP per capita of the top ten African economies (2020 - 2024)
 
  • At -16.02% CAGR, Nigeria's GDP per capita is shrinking fast, signalling deep economic strain on its population despite being a top 4 African economy.
  • Angola recorded 8.28% CAGR, showing that smaller economies can drive significant per capita progress when policies and investments align with citizen welfare.
  • With 8.23% CAGR, Algeria continues to transform national wealth into measurable benefits for its people.
  • Ethiopia’s 6.86% annual growth in GDP per capita highlights how consistent development efforts can raise living standards even in densely populated, developing nations.
  • A modest 2.52% CAGR for South Africa might not sound like much, but in a mature economy, this reflects resilience and relative stability in per capita income.
  • Egypt has a -1.41% CAGR, showing mild contraction, but far less severe than Nigeria’s economic shrinkage.
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Nominal GDP per capita of top 10 African economies (2024)
 
  • Despite being among the top 4 economies by size, Nigeria ranks low in GDP per capita, revealing a disconnect between total wealth and individual prosperity.
  • With the highest nominal GDP and highest per capita GDP, South Africa showcases balanced growth and better wealth distribution.
  • Countries like Ethiopia and Nigeria have huge populations, which dilutes their GDP and drags down per capita figures.
  • Though fifth in total GDP, Morocco performs better in GDP per capita, highlighting efficiency in wealth distribution.
  • This proves that a country’s economic “size” doesn’t always translate to individual opportunity, wealth, or standard of living.
  • Economies like Nigeria and Ethiopia must focus not just on increasing GDP but on ensuring that economic growth improves lives at the grassroots level.
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Share of global active Twitter (X) users by continent (Jan. 2025)
  • Asia accounts for the largest share of X (formerly Twitter) users globally at 43.5%.
  • America follows closely with a 30.2% global share of active users.
  • Africa contributes just 4.8% of active users, highlighting underrepresentation.
  • Oceania has the smallest presence, accounting for only 1.1% of users.
  • Asia alone has more X users than Europe and Africa combined.
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Number-of-Africans-who-use-each-selected-social-media-platform-as-of-January-2025
  • Facebook leads Africa’s social media use with 291.1M users, accounting for 12.7% of its global base.
  • TikTok holds second place with 189.3M African users, representing 11.9% of TikTok's global audience.
  • Meta dominates among the top four platforms with Facebook, Messenger, and Instagram.
  • LinkedIn’s 82.99M users show a strong uptake in professional networking, amounting to 5.3% of the platform’s global users.
  • Twitter (X) is used by 27.85M Africans, representing 4.8% of its global base—smallest on the chart, but still impactful.
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Share of global active TikTok users by continent (Jan. 2025)
  • Asia accounts for 39.6% of global TikTok users, the largest regional share.
  • America follows with 31.7% of the global TikTok user base.
  • Africa represents 11.9% of active TikTok users globally, totaling 189.3 million.
  • Oceania has the smallest share with 10 million users or just 0.6% globally.
  • Asia and America combined make up over 71% of all TikTok users worldwide.
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  • Institutional loans lead slightly, with 552,009 applications, showing a strong need for tuition and direct school-related expenses.
  • Upkeep loans are not far behind, at 519,964 applications, highlighting the importance of financial support beyond school fees.
  • Combined, over 1 million applications reveal a large and growing demand for structured educational funding in Nigeria.
  • The close margin suggests dual pressure: students aren’t just struggling to pay fees, but also to survive the cost of schooling.
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Key Takeaways:
  • MTN remains the market leader, growing from an average of 26 million subscribers in 2013 to an average of 75 million by early 2025.
  • The average active data subscribers for MTN was over 75 million in early 2025.
  • Airtel saw consistent growth, rising from 8.2 million in 2013 to 48.7 million in 2025, on average.
  • Globacom’s average data subscriber base peaked in 2023 at 43.7 million but fell sharply by 2025 to 15.8 million.
  • 9mobile's average data subscriber base in 2025 dropped to just 1.8 million from its 2016 peak of 15.2 million.
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Key Takeaways:
  • Lockheed Martin leads with $60.8 billion in arms revenue.
  • The top ten companies' combined revenue from arms production was $307.3 billion.
  • The top five corporations are all from the United States.
  • BAE Systems, based in the United Kingdom, remains Europe's strongest defence contractor, ranking sixth.
  • Russia and the United Kingdom each have one company among the top ten.
  • China secures three slots in the top 10, with a total revenue of $57.5 billion.
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