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  • In the past 10 years, Nigeria has received $131 billion in capital imports

    Nigeria's capital importation has been on a decline after it hit a $24 billion peak in 2019. In the past 10 years, it received $131 billion, with the lowest recorded in 2016. Here are the country's capital imports since 2013.

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    In Q1 2024, there was a 146% increase in Nigeria's foreign trade value from ₦12.9t in Q1 2023, with exports reaching ₦19.2t, and surpassing the whole of 2020's exports (₦12.5t).

    The total trade value in the quarter reached nearly half of the total trade in 2023.

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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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  • 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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    Africa's sanitation crisis is alarming, with 17 of the top 20 countries having the highest open defecation rates.

    Eritrea (67%), Niger (65%), and Chad (63%) lead, putting millions at risk of disease.

    Even Nigeria, the most populous African country, has 18% of its population practising it.

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  • In Q4 2023, Spectranet maintained its top position as Nigeria's biggest internet service provider with nearly 114k active subscribers, holding 43% of the market share. FiberOne followed with 10% of the market.

    Starlink increased its subscriber base by 113% to claim the 3rd position with 9% of the market.

    Here are Nigeria's top internet service providers by active subscribers in Q4 2023.

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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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  • 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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Other Insights
  • Tesla recorded its highest automotive revenue in 2023, reaching an impressive $82.4 billion.
  • In 2024, Tesla’s automotive revenue declined for the first time, with a 6.49% drop compared to the previous year.
  • Despite the decline in automotive revenue, Tesla’s total revenue grew by 0.95%, indicating resilience in other business segments
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  • FCT, Ogun, and Nasarawa consistently rank as the top three states with the highest number of road accidents.

  • The FCT recorded its peak accident figures in 2022, particularly in Q2 (842 cases) and Q4 (864 cases).

  • In Q2 and Q3 of 2024, Ogun State surpassed the FCT in the number of reported accidents.

  • Across these three states, there has been a notable decline in accident numbers, with an average decrease of approximately 37.6% between Q2 and Q3 2024.

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  • In 2024, Tesla delivered a total of 1,789,226 vehicles, marking its first year-over-year delivery decline (1.11%) since 2015.
  • Tesla’s highest annual deliveries occurred in 2023, with 1,808,581 vehicles delivered.
  • Of the total vehicles delivered in 2024, 1,704,093 were Model 3 and Model Y, while 85,133 were other models, including the Cybertruck.
  • The Cybertruck officially launched in late 2023, with production ramping up through 2024.
  • Both Model Y and Model 3 received notable upgrades in 2024, enhancing performance and interior features.
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  • Private universities in Nigeria outnumber federal and state institutions combined.
  • Nigeria has 159 private universities, more than double the number of federal universities.
  • Federal universities stand at 72, showing steady federal government investment in tertiary education.
  • State-owned universities number 66, slightly fewer than federal universities but forming a significant part of public education.
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  • The 1990s saw multiple years of flat or negative FDI, including -$0.02B in 1995 and -$0.04B in 1997.
  • FDI surged to $1.81B in 2007 and $2.94B in 2010, marking a turning point.
  • The all-time high was $3.31B in 2012, with 2024 following closely at $3.11B.
  • From 2015 to 2024, annual FDI remained steadily above $1B, signalling sustained investor confidence.
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  • 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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  • Morocco achieved the highest cumulative surplus in Africa’s digital trade at $26.4 billion between 2005 and 2024.
  • Mauritius and Tunisia followed distantly with surpluses of $8.7 billion and $4.4 billion, respectively.
  • Nigeria and Angola recorded the deepest deficits, each exceeding $90 billion cumulatively.
  • Africa’s overall digital trade balance remained negative, averaging a -$618 million deficit in 2024.
  • Smaller economies like Kenya and Togo managed modest but consistent surpluses over the years.
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  • Equity Group was the most profitable bank on the list with $268M in H1 2025.
  • KCB followed closely with $250M in profits, supported by 8% YoY growth.
  • I&M Group achieved the fastest growth rate of 36%, despite a smaller base of $63 million.
  • Standard Chartered’s profits fell by 21%, highlighting the struggles of foreign banks.
  • Stanbic Holdings also declined by 9%, contrasting with local banks’ upward trend.
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  • Qatar has the lowest share of seniors, with only 1.7% of its population aged 65+.
  • The UAE follows closely at 1.8%.
  • Zambia has 2.0% of its population aged 65 and above, totalling about 438,000 people.
  • Uganda, Chad, and the Central African Republic each have a senior population of around 2.1–2.2%, with totals exceeding 1 million seniors.
  • Qatar also has the smallest absolute number of seniors on the list—just 53,000 people.
  • Nigeria has 7.3 million seniors that represent only 3.1% of its population, ranking 25th worldwide.
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  • Africa’s goat population grew from 94 million in 1961 to 522 million in 2023 — more than a fivefold increase.
  • The continent’s share of the world’s goats rose from 27% in 1961 to 46% in 2023.
  • Nigeria leads with nearly 89 million goats in 2023, holding the top spot since 1998.
  • Ethiopia, Chad, Sudan, Niger, and Mali consistently rank among the largest goat producers.
  • Around 70% of Africa’s goats are concentrated in the top ten countries each year.
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  • Asia leads global copper exports with 31.6% of total export value.
  • Europe follows closely at 31.4%, making the two regions nearly equal in contribution.
  • Combined, Asia and Europe control 63% of the global copper export market.
  • Africa ranks third globally, contributing 15.3% to copper exports.
  • Oceania plays the smallest role, with just 2% of the total export value.
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  • The DR Congo is Africa’s copper giant, exporting $19.8 billion in 2024 (56.7% of the total).
  • Zambia follows with $7.6 billion, representing 21.7% of exports.
  • Together, the DR Congo and Zambia control almost 80% of Africa’s copper trade.
  • Tanzania is the third-largest exporter with $2.2 billion (6.3%).
  • Despite 52 African countries exporting copper, 42 of them collectively make up only 2% of the total value.
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