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  • When Olusegun Obasanjo took office in 1999, the exchange rate was ₦97 to $1; it was ₦128 under Yar'Adua in 2007. During Jonathan's tenure in 2010 it was ₦151 while it was ₦199 when Buhari was in office.

    Despite efforts to let market forces decide the rate, the naira continues to weaken. Will the current administration turn things around soon?

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    happiness-2024-65fdcc8a1f311

    Nigeria has ranked the 102nd happiest country of 143 countries surveyed globally as of 2024; it ranked 11th of 40 African countries.​
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    ​Libya ranked 66th globally and 1st in Africa, followed by Mauritius and South Africa in 70th and 83rd positions, respectively.

    The World Happiness Report ranks happiness based on GDP per capita, life expectancy, generosity, social support, freedom, and corruption.

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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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    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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  • 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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    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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  • Miss Universe - Top countries by the number of wins since 1952
    • 2000–2005: Of the titles, two went to Venezuela and one to India and Puerto Rico. India's win in 2000 marked its first Miss Universe title.
    • 2006–2010: Mexico, Venezuela, and Puerto Rico each managed to win a single contest. Mexico's win in 2010 was particularly historic, given that it was the first time the country won the title of Miss Universe.
    • 2011–2015: While the Philippines and Venezuela each won two titles, Colombia took one.
    • 2016–2020: Mexico and South Africa managed one victory each; South Africa had consecutive victories in 2017 and 2019.
    • 2021–2024: India, Mexico, South Africa, and Denmark each secured one win. This win for India in 2021 is the third Miss Universe title in the country.
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  • MTN Nigeria has dominated the country's telecommunications market over the years, accounting for the largest market share. All four operators, apart from 9mobile, recorded a significant increase in their subscriber base between May 2014 and March 2024.

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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.

    See more

Other Insights
  • Asia added 413 GW in one year, marking the most significant renewable energy expansion globally.
  • Asia’s 2024 renewable capacity is larger than the combined totals of all other regions indicated.
  • Europe reached 850 GW of installed capacity in 2024, consolidating its position as the second-largest renewable energy region.
  • North America’s renewable energy grew by 8.7% to 572 GW.
  • Oceania recorded a 12.9% growth rate, one of the highest relative increases despite its small base.
  • The Middle East achieved 10.8% growth, reflecting increased investments in solar and wind energy.
  • Africa’s renewable energy grew modestly to 70 GW.
  • Central America & the Caribbean recorded no growth, staying at 19 GW, making it the only stagnant region in 2024.
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  • Egypt has been the lead source of African scholars in the US in the last 24 years.
  • Of the African scholars in the US as of the 2023/24 academic session, 20% were Egyptians.
  • The country remains a pivotal actor in building transcontinental academic bridges and contributing to global knowledge exchange.
  • Egypt’s visibility in the US scholarly ecosystem reinforces its role as a regional academic hub.
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  • Mauritius, with a median age of 38 years, has the oldest population in Africa.
  • The Central African Republic has the youngest population, with a median age of 14 years.
  • Nigeria’s median age of 18 years reflects the dominance of youth in its population.
  • Older populations tend to signal lower fertility rates.
  • Younger populations highlight higher fertility rates and greater demand for education and jobs.
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  • US imports from Africa grew 23.9% year-on-year to $23.4 billion in H1 2025.
  • South Africa drove much of the growth, with exports surging 52.2% to $9.5 billion.
  • Nigeria recorded a 12.1% decline in exports to the US, falling to $2.8 billion.
  • Algeria also posted a contraction, with exports dropping 13.5% to $1.1 billion.
  • Egypt’s exports increased 14.8%.
  • Other African countries collectively expanded exports by 23.5% to $8.6 billion.
  • Africa’s trade growth with the US continues despite tariff barriers, showing resilience.
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  • US imports from Africa jumped 24% to $23.4 billion in H1 2025 despite tariffs.
  • Egypt led gains, doubling its surplus with the US to $2.73 billion.
  • Nigeria swung into a $576 million surplus, reversing last year’s deficit.
  • South Africa’s deficit with the US nearly doubled to $6.32 billion, dragging the overall balance.
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  • Johannesburg is home to the highest number of millionaires in Africa, with 11,700 individuals.
  • Six out of the top ten wealthiest African cities are located in South Africa.
  • Cairo leads North Africa with 6,800 millionaires, showing its dominance as a financial hub.
  • Nairobi has 4,200 millionaires, making it East Africa’s wealthiest city.
  • Lagos, with 3,600 millionaires, remains West Africa’s wealthiest city.
  • Lifestyle regions, such as the Cape Winelands and the Garden Route, feature prominently, reflecting the importance of property and lifestyle economies.
  • Casablanca, with 2,900 millionaires, underscores Morocco’s rising appeal as a North African wealth centre.
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  • Capital expenditure accounted for the largest share of Lagos State’s Q1 2025 spending, at 52%.
  • Overhead costs consumed 22% of the total expenditure.
  • Personnel costs accounted for 18%, reflecting the importance of workforce expenses.
  • Debt servicing made up 5%, indicating relatively low pressure from debt obligations.
  • The balance between recurrent (personnel, overhead, debt, and other recurrent) and capital spending leans heavily towards long-term growth.
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  • Internally Generated Revenue (IGR) accounted for 61% of Lagos State’s Q1 2025 receipts.
  • VAT was the second-largest funding source, contributing 22%.
  • Loans made up 8% of total inflows for the quarter.
  • Opening balance accounted for 4%, indicating a moderate carryover from the previous year.
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  • South Africa has doubled from 317,000 units in 1999 to approximately 600,000 units in 2024.
  •  Major peaks were recorded in 2006 (588K), 2016 (616K), and 2018 (632K), while noticeable declines occurred in 2009 (374K) and 2020 (447K), reflecting global economic shocks.
  • South Africa remains one of the leading vehicle producers in Africa, manufacturing a wide mix of passenger cars, light commercial vehicles (LCVs), trucks, and buses/coaches.
  • The industry plays a critical role in exports, employment, and industrial development, making South Africa an automotive hub on the continent.
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  • China built 31.3M vehicles in 2024, more than the U.S. and Japan combined, and over one-third of global output.
  • The U.S. and Japan are still major players, but each produced less than half of China’s volume.
  • India, rising with 6.0M vehicles, is cementing its place as a global automotive powerhouse.
  • Europe’s strength: Germany leads with 4.1M units, supported by Spain, France, and the Czech Republic.
  • Brazil, Thailand, and Turkey demonstrate strong regional growth.

Africa’s contribution:

  • South Africa (21st, 0.59M units) is the continent’s top producer.
  • Morocco (23rd, 0.56M units) follows closely. Combined, they reflect Africa’s small but developing presence in the global auto industry.
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  • Algeria is Africa’s largest country, covering 2.4 million km², slightly bigger than the Democratic Republic of Congo (2.3 million km²).
  • Sudan (1.9 million km²) and Libya (1.8 million km²) complete the top four, showing that North Africa dominates the list of largest territories.
  • Nigeria, Africa’s most populous nation, has a landmass of 923,800 km², placing it 14th in size, much smaller than its population ranking.
  • The smallest among the top 20 listed is South Sudan, with 619,700 km², less than one-third the size of Algeria.
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  • Samsung dominates with 26.42% of Ghana’s smartphone market, making it the clear leader.
  • Tecno (17.7%) and Apple (17.4%) are in a tight race for second place, separated by just 0.3 percentage points.
  • Infinix (10.5%) and Itel (5.2%) highlight the strong presence of Transsion Holdings brands in Ghana.
  • Global giants like Huawei (6.8%) and Xiaomi (2.5%) lag behind, showing Ghana’s preference for budget-friendly African-focused brands.
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  • The Protestants dominate church networks in Nigeria, counting 68.1 million adherents, making up 63.9% of all Christians.
  • Following closely are the independent churches, with 30 million members, representing 28.2% of Nigerian Christians.
  • The Catholic Church stands firm with 27.9 million Christians, or about 26.2% of the Christian population.
  • At the smaller end of the spectrum are the Orthodox Christians, just 3,100 strong, and 152,000 unaffiliated believers who walk their spiritual path independently.
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  • West Africa dominates Africa’s top 15, holding six positions on the remittance importance index.
  • Zimbabwe (78) ranks as Africa’s top country in terms of remittances' importance.
  • Senegal (77) and Nigeria (72) highlight the central role of diaspora inflows in West Africa’s economies.
  • Morocco (74) leads North Africa in remittance importance.
  • Smaller nations like Lesotho (68) and Liberia (68) depend heavily on remittances relative to their GDP.
  • The lowest-ranked countries, including Angola (9) and Djibouti (11), rely minimally on remittance inflows.
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  • Stablecoins lead the market, accounting for 38.3% of all crypto sent, highlighting Nigerians’ preference for stability and dollar-backed assets.
  • Bitcoin ranks second at 27.3%, showing it remains a major channel for store-of-value transfers and remittances.
  • Altcoins like SOL, ADA, SHIB, and DOGE (15.4%) attract younger and experimental users but remain secondary to stable assets.
  • Ethereum (10.2%) and BNB (8.9%) maintain moderate transaction volumes, suggesting users favor low-fee and widely accepted tokens for transfers.
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  • Students are the largest crypto-holding group (43.6%), underscoring the youthful nature of Nigeria’s crypto community and their early adoption of digital finance.
  • Entrepreneurs follow closely (25.7%), showing strong participation from self-employed Nigerians, traders, business owners, and hustlers who use crypto for investment and business flexibility.
  • Traditional employees make up 17.4%, indicating growing acceptance of crypto beyond informal or youth circles, even among salary earners.
  • Freelancers and gig workers (5.6%) also feature, reflecting crypto’s role in global online work and cross-border earnings. Unemployed and retired individuals remain a small minority, under 3.5% combined.
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  • About 60% of users make less than $50 per month, showing crypto activity is mostly at a small, retail scale.
  • The $10–$50 band (36%) is the single largest group, reflecting frequent, low-value trading or incremental investment returns.
  • Only about 30% of users earn between $50 and $500, suggesting that consistent moderate returns are less common.
  • Less than 3% of users earn above $1,000 per month, confirming that the Nigerian crypto market remains largely retail-driven rather than dominated by professional or institutional traders.
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  • 56.1% of users mostly send crypto, compared to 43.9% who mostly receive it, showing an active transaction culture.
  • Investing in other platforms or projects leads as the top reason for sending crypto (29.2%), indicating strong speculative and wealth-building motives.
  • Every 1 in 4 users (25.1%) use crypto for daily transactions like bills and subscriptions, showing rising integration into everyday finance.
  • Cross-border payments (7.7%) and donations (4.6%) remain small but notable niches, signaling growing utility beyond trading.
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