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  • In 2023, 1.17 billion smartphones were shipped globally. Samsung and Apple maintained their stronghold on the smartphone market, collectively accounting for 38%, with each brand capturing 19%.

    Xiaomi maintained a 12% share after peaking at 14% in 2021. Apple's market share shows a gradual increase from 2020, reaching 19% in 2022 and 2023.

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    Nigeria produced 1.4 million tons of palm oil in 2022, 2% of the global production in the 2022/2023 market year, making the country the fifth largest producer of the commodity. Indonesia dominated global production with 59%, followed by Malaysia and Thailand.
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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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    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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  • 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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    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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  • 23 African countries are in one phase or the other in launching a digital currency
    Senegal's cancellation of its experiment with an eCFA in 2016 makes Nigeria's eNaira the only active Central Bank Digital Currency (CBDC) in Africa. Half of the countries in Africa are currently not doing anything about CBDC, while a larger share of the other half is currently in the research phase.
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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
  • Nigeria’s outstanding debt to the World Bank rose from $180 million in 1970 to $17.81 billion in 2024, a nearly 100-fold increase in 54 years.
  • The balance remained below $5 billion until 2013, but more than tripled between 2013 and 2024, signalling accelerated reliance on multilateral credit.
  • From 2020 to 2024, the outstanding debt rose by $6.4 billion, the sharpest five-year surge on record.
  • The figures reflect a steady accumulation of obligations, driven by long-term borrowing and slower repayment relative to disbursement.
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  • Peak FDI was in 2009 with $2.75 billion, the highest recorded in the 1990–2024 period.
  • The year 2015 saw a rare negative inflow of -$580 million, marking Algeria’s only net FDI loss in the last three decades.
  • FDI inflows rose significantly between 2005 and 2011, consistently staying above $1 billion each year.
  • After the 2015 drop, inflows recovered modestly, hovering between $1.1B and $1.6B from 2016 to 2020.
  • FDI weakened again post-2020, falling to just $250 million in 2022, before rebounding to $1.44 billion by 2024.
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  • Only four African countries, Seychelles, South Africa, Namibia, and Ghana, meet or exceed the WHO’s recommended minimum of 44.5 nursing and midwifery personnel per 10,000 people.
  • Seychelles leads the continent with 73 personnel per 10,000, followed by South Africa (64), Namibia (54), and Ghana (45).
  • The lowest number within the top 20 is 16, shared by Nigeria, Comoros, and Mauritania.
  • The dataset includes 47 African countries, and no country outside the top 20 has more than 16 nursing and midwifery personnel per 10,000 people.
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  • Egypt attracted $46.6B in FDI in 2024, the highest in 35 years and nearly quadruple 2023’s $9.8B inflow.
  • Average FDI between 1990–2023 was just $4.9B, meaning 2024’s figure is over 9× the long-term average.
  • Prior to 2024, FDI peaked at $11.6B in 2007, with only three other years, 2008, 2022, and 2023 crossing the $9B mark.
  • In 2011, Egypt recorded –$0.48B in FDI, meaning more foreign investment left the country than came in, largely due to the Arab Spring unrest.
  • The 2005–2010 period was previously Egypt’s strongest run, averaging over $8B annually before political instability triggered sharp declines.
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  • Kenya recorded $27.5B total FDI between 1990 and 2024, with most inflows occurring after 2007.
  • From 1990 to 2006, Kenya averaged just $0.04B annually, a sign of limited foreign investor confidence in early years.
  • A major turnaround began in 2007, with FDI jumping from $0.05B to $0.90B, and peaking at $2.23B in 2011.
  • Between 2007 and 2024, Kenya received over 92% of its total FDI, a sharp shift in its investment profile.
  • FDI has stayed above $1B annually since 2009, signalling consistent investor interest in Kenya’s growing economy.
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  • Rwanda attracted a total of $6.28 billion in foreign direct investment (FDI) over 35 years, from 1990 to 2024.
  • The highest annual inflow recorded was $820 million in 2024, making it the country’s strongest FDI year yet.
  • Between 2020 and 2024, Rwanda pulled in $2.70 billion, accounting for over 40 percent of its total investment since 1990.
  • From 1990 to 2004, annual FDI barely exceeded $100 million, with several years recording zero inflows.
  • Even during its best-performing years, Rwanda’s FDI never hit the $1 billion threshold.
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  • June 2025 PMI: 51.6, down from 52.7 in May — marking a three-month slowdown in growth.
  • The figure is 2.99% above June 2024 levels, when PMI was 50.1 — confirming year-on-year improvement.
  • The June dip reflects subdued demand and persistent inflation, echoing broader market sentiments.
  • A PMI above 50 signals expansion; Nigeria’s figure signals ongoing growth, though losing speed.
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  • Uganda and Mauritius offer the most affordable mobile data in Africa, with 1GB for just $0.02 over a 30-day period.
  • Comoros, Ghana, and South Africa also rank among the cheapest, each offering 1GB of data for $0.07 to $0.10.
  • Nigeria is among the top 10, with a relatively low cost of $0.13 per 1GB, placing it below the continental average.
  • Madagascar, at $0.32 per 1GB, closes out the top 20, which reflects the upper boundary of affordable data across African nations.
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  • Road accidents declined by 53% between Q3 2020 and Q3 2024.
  • Q4 2022 recorded the highest number of accidents, with 4,835 reported cases.
  • Q3 2024 had the lowest number, with just 1,945 accidents.
  • Speed violation remains the leading cause of road accidents in Nigeria.
  • Ogun, FCT, Kaduna, and Nasarawa consistently rank among the top four states with the highest accident occurrences.
  • Bayelsa, Borno, Imo, Rivers, and Akwa Ibom regularly report the lowest number of accidents each quarter.
  • Commercial vehicles are the most frequently involved vehicle category in accidents.
  • Cars account for the highest number of individual vehicle accidents.
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  • The Federal Capital territory (FCT) recorded the highest number of road accidents between Q3 2020 and Q3 2024, with a total of 8,133 accidents, accounting for 12.42% of total accidents.
  • FCT, Ogun, Nasarawa, and Kaduna consistently ranked among the top four states with the highest accident occurrences.
  • Bayelsa, Borno, Akwa Ibom, Rivers, and Imo were among the states with the lowest number of recorded accidents each quarter.
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  • Tesla remains the EV manufacturer with the highest revenue, generating approximately $19 billion in Q1 2025.
  • Among companies that exclusively produce EVs, Tesla was the only one to report a year-over-year revenue decline between Q1 2024 and Q1 2025.
  • Tesla's decline has been partially attributed to public backlash against CEO Elon Musk’s controversial political involvement.
  • VinFast not only achieved a 300% increase in vehicle deliveries but also recorded the highest revenue growth, up 149.81% year-over-year.
  • VinFast’s strong performance was largely driven by robust sales in Vietnam, its largest market.
  • Despite a 38.46% drop in EV deliveries, Rivian posted a 2.99% year-over-year revenue increase between Q1 2024 and Q1 2025.
  • Tesla, Rivian, and Lucid are U.S.-based EV manufacturers; NIO is Chinese, VinFast is Vietnamese, and Polestar is Swedish.
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  • Egypt leads with $195.2 billion in cumulative FDI inflows as of 2024.
  • South Africa follows with $151.0 billion, and Nigeria is third with $110.7 billion.
  • Only these three countries have crossed the $100 billion mark over the 34-year span.
  • Morocco and Mozambique are neck-and-neck, with around $58–59 billion each.
  • Ghana and Ethiopia show strong mid-tier performances, both near or above $45 billion.
  • DR Congo, Algeria, and Congo round out the top 10 — all with over $30 billion in long-term FDI.
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  • Nigeria exported $10.81 billion in digital services between 2005 and 2024.
  • Imports during the same period reached $105.34 billion.
  • The result was a trade deficit of $94.53 billion over 20 years.
  • Exports rose from just $40 million in 2005 to $1.55 billion in 2024.
  • Imports were almost ten times larger than exports, showing a persistent imbalance.
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  • Nigeria’s renewable energy capacity grew from 2.1 GW in 2015 to 3.7 GW in 2024.
  • This represents a 76% increase over the decade.
  • The compound annual growth rate (CAGR) was 5.7% between 2015 and 2024.
  • From 2015 to 2020, capacity was stagnant at around 2.2 GW.
  • The biggest growth year was 2022, with a sharp 34.9% increase.
  • Capacity stagnated in 2023 at 3.1 GW before climbing again in 2024.
  • Nigeria’s renewable growth remains modest compared to its population size and energy demand.
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  • Morocco’s renewable energy capacity grew from 2.4 GW in 2015 to 4.0 GW in 2024.
  • This represents a 67% increase over the decade.
  • The compound annual growth rate (CAGR) was 5.3% between 2015 and 2024.
  • Capacity was stagnant at 2.4 GW from 2015 to 2017 before growth resumed.
  • The biggest single-year increase happened in 2022, with a 13.7% jump.
  • Capacity additions slowed in 2023 (3.7 GW) and 2024 (4.0 GW).
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  • South Africa’s renewable energy capacity grew from 3.4 GW in 2015 to 13.5 GW in 2024.
  • The country recorded a CAGR of 14.7% over the period.
  • The biggest annual growth was in 2016, when capacity surged by 49.2%.
  • Stagnation occurred in 2021 (0.8% growth) and 2023 (0.0%), reflecting project delays or policy issues.
  • The most recent increase was in 2024, when capacity rose to 13.5 GW, showing renewed momentum.
  • South Africa’s renewable energy capacity is more than three times Nigeria’s 3.7 GW in 2024.
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  • Kenya’s renewable energy capacity grew from 1.6 GW in 2015 to 3.1 GW in 2024.
  • This represents a near doubling of capacity in less than a decade.
  • The compound annual growth rate (CAGR) was 6.9% between 2015 and 2024.
  • The largest single-year jump came in 2016 with a 23.2% increase.
  • Kenya faced a setback in 2021 when capacity dipped by -8.6%.
  • A strong rebound occurred in 2022 (+15.5%), reaffirming momentum.
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  • Egypt’s renewable capacity grew from 6.2 GW in 2015 to 11.8 GW in 2024.
  • This represents a net increase of 5.6 GW over the decade.
  • Egypt recorded a 6.5% compound annual growth rate (CAGR) from 2015 to 2024.
  • Between 2015 and 2019, growth was very slow, with capacity almost flat.
  • The turning point came in 2020, when expansion began to pick up pace.
  • The largest jump occurred in 2022, with a 26.3% year-over-year increase.
  • By 2024, Egypt’s renewable capacity was more than three times Nigeria’s 2024 level of 3.7 GW.
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