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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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  • 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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    This table shows how adult literacy rates varied among African countries between 2018 and 2021. Seychelles and South africa were first and second respectively, with 96% and 95% of their adult population able to read and write. As of 2021, Chad had the lowest literacy rate.
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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.

    See more

    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.

    See more

  • 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.

    See more
  • 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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  • 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.

    See more

Other Insights

Known for its Elephant Cement brand, Lafarge Africa is on its way to reaching its highest annual revenue in the past decade, with its 2024 9-month revenue outperforming full-year revenues for 2023.

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Lafarge Africa's journey over six decades is a tale of growth, transformation, and significant milestones. From its roots as WAPCO in 1959 to its current position, the company’s evolution continues, with an acquisition by Huaxin Cement in 2024, pending regulatory approval.

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Top 31 countries based on the 2024 English Proficiency Index

Nigeria occupies the 30th spot globally in the English Proficiency Index, achieving a score of 557, just behind Kenya (581) and South Africa (594). As one of Africa's linguistic leaders, this ranking highlights Nigeria’s strength in English proficiency, a vital skill driving communication, business, and education across the continent.

This data comes from the EF English Proficiency Index, which aggregated the test results of 2.2m adults from 113 countries and regions. Countries where English is the primary native spoken language are not included in this ranking. Ranks are determined by each country’s average score in the EF Standard English Test (EF SET).

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GDP per capita Nigeria and Africa (2010-2029)
 

Over the years, many African countries, including Nigeria, have experienced economic turbulence caused by fluctuating global markets and domestic challenges. However, amidst these challenges, there’s hope as IMF economic forecasts point toward growth.

According to the IMF, GDP per capita in Nigeria and Africa is projected to increase from 2025 after years of stagnation and decline. Nigeria’s GDP per capita fell sharply from $2,197 in 2022 to $877 in 2024. Encouragingly, growth is expected with projections of $1,047 for Nigeria by 2029, signaling a slow but steady improvement in living standards.

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Fatalities caused by the 50 worst terrorist attacks in 2022

In 2022, the top 50 terrorist attacks claimed 2,088 lives across 11 countries, with African nations significantly affected. Seven of these nations are African, and together they account for over half of the fatalities. Mali alone recorded 421 deaths, Burkina Faso recorded 317 deaths, while Nigeria and Somalia saw 212 and 200 lives lost, respectively.

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71% of households in Nigeria’s North East lack access to electricity

Nearly half (46%) of Nigerian households struggle with electricity access, with the Northern region facing the most significant challenges. The three Northern geopolitical zones have access rates below the national average, whereas South East Nigeria has the highest access, with only 25.4% of households lacking electricity.

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8.4 bribes were paid per bribe-payer in Nigeria's North West

The average number of bribes paid per person in Nigeria marginally reduced from 5.4 to 5.1. However, this decrease had no impact in the North East, where bribe-payers nearly doubled the amount paid in 2019, increasing from 4.5 to 8.4. In contrast, other regions recorded slight declines in bribes paid.

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Modern slavery by regions (2022)

On this International Day for the Abolition of Slavery, it’s important to face the harsh realities of modern slavery worldwide. As of 2022, 22 million people globally were forced into marriages, and 27.6 million were subjected to forced labour. Africa alone accounted for 3.8 million in forced labour and 3.2 million in forced marriages, making up a significant number of this global issue.

Africa’s numbers were lower than Asia & the Pacific’s, with a total of 29.3m modern slaves. In Africa, people face daily struggles in exploitative labour conditions, from children forced to work on farms to women coerced into early or abusive marriages. These realities explain the broader statistics and call for efforts to address modern slavery in all its forms.

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First Class Honours at the Nigerian Law School have been a rarity, but 2023 saw a notable rise. At 251, it is the highest number of First Class candidates in a decade, 2x the number in 2022.

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While several African nations have state-controlled telcos, some private operators have extended their presence across the continent. Notably, none operates in all countries on the continent.

MTN Group and Orange are present in 17 countries, with MTN having a stronger presence in Southern Africa than Orange. Francophone West Africa and North Africa are Orange's primary markets.

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Fail rates at the Nigerian Law School have declined from 33% in 2014 to 11% in 2023. Over the same period, second-class lower has overtaken the pass grade as the most common outcome.

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On a regional level, sub-Saharan Africa has the lowest average at 33, among 49 countries, while the Western Europe and European Union region outperforms all regions with an average of 65. The Corruption Perception Index measures the perceived levels of corruption across countries and territories.
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Inflation levels across Africa's largest economies range from low and stable in Morocco to high and concerning in Nigeria. Egypt and Nigeria have seen inflation rise to record levels, driven partly by currency devaluations in both countries. Nigeria has not only fallen from its top spot as the continent's largest economy, but it now holds the spot for the highest inflation rate amongst the top ten economies by GDP.
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Rwanda is performing relatively well in terms of governance and rule of law, leading sub-Saharan Africa for the third consecutive year with a score of 0.63 in the 2024 Rule of Law Index. Namibia (0.61) and Mauritius (0.60) closely follow, showcasing relatively stronger legal frameworks. At the lower end, Nigeria, Congo, and Gabon score 0.40, highlighting persistent governance challenges. Globally, Denmark tops the list of 142 countries, with a score of 0.90, while Venezuela ranks last at 0.26, emphasising the gap between SSA's highest performers and global leaders. This mix of progress and struggles illustrates the varied state of governance across the region.
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