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  • Between September 2022 to August 2023, 3 of Nigeria's mobile Internet providers saw a combined 8 million increase in their active mobile Internet subscribers, with MTN gaining the most, followed by Globacom and Airtel. 9mobile on the other hand, recorded almost 1 million decline.

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    In 1994, the IBM Simon Personal Communicator, paved the way for a digital revolution. Fast forward to 2017, when smartphone shipments peaked at 1.57 billion units. However, the subsequent six-year period witnessed a 25% decline in shipments.

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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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  • 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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  • 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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Other Insights
Tourist centres in Nigeria (2022)

Enugu and Kwara lead as the states with the most tourist centres in Nigeria, boasting 17 tourist sites each. States like Edo (16), Kogi (15), and Oyo (15) closely follow, showcasing Nigeria's rich and varied attractions across different regions.

Lagos, often called Nigeria's commercial capital, features prominently with 13 tourist centres.

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Train accidents in Nigeria by type (2020-2022)

In 2022, derailments accounted for 44% of all train accidents, increasing from 35% in 2021 to 38% in 2020. This shows the need to prioritise railway infrastructure maintenance. Locomotive failures also contributed to train accidents, making up 35% of cases in 2022. Although this is slightly lower than the 36% recorded in 2020, it still represents a significant proportion of rail incidents.

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The world's top ten semiconductor vendors control nearly 50% of the market share. Intel has maintained its position as the market leader, though its share has declined significantly from 15.4% in 2013 to 9.1% in 2023, and Samsung Electronics, its closest rival, has experienced a similar downward trend.

Apple and Nvidia have emerged as formidable contenders in the semiconductor business, joining the ranks of leading players in less than five years.

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Cinemas provide consumers with entertainment outside their homes, allowing them to watch the latest blockbusters with friends on a large screen. They also help movie producers get their films in front of thousands of people.

In Nigeria, independent cinemas form the largest group, with names recognisable mostly within the towns where they exist. However, cinema chains are growing. Filmhouse Cinemas has 12 locations in five states, while Genesis Cinemas operates in six states, albeit with fewer locations than Filmhouse Cinemas. Unlike the other top five, Kada Cinemas has no cinemas in Lagos.

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Seven Nigerian commercial banks have international authorisation. Per the new capital requirements, these banks must raise their shareholders' funds to ₦500 billion by April 2026, up from ₦50 billion, to retain their licences.

All seven banks have footprints in the UK, where FCMB and Fidelity Bank operate, underutilising their licence. Ghana and Sierra Leone are the only countries where all the big five have a presence.

While UBA is present in more countries than any other bank, Access is catching up quickly and poised to overtake it. In the past two years, it has expanded into over five countries, with plans to grow its presence to nearly 30 countries by 2027.

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Number of monthly road traffic crashes (2022)

Road traffic crashes in Nigeria remain a significant concern, with an average casualty rate of approximately 50% throughout 2022. This means half of the people involved in crashes either sustained injuries or lost their lives. While the remaining half walked away unharmed, February and November had the highest casualty rates at 53%, though with just a slight increase from other months.

A closer look at the data reveals that injuries far outweigh fatalities across all months. This pattern shows the heavy burden on hospitals and emergency services, which often struggle to manage the influx of victims. December, a festive season marked by increased travel, saw a casualty rate of 52%, with deaths accounting for 6.4% and injuries rising to 45.7%. This reaffirms the need for extra caution during peak travel when road congestion and reckless driving are heightened.

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With the top ten states receiving 40% of the ₦82b shared in EMTL, Lagos led with ₦7.68b, followed by Kano with ₦3.46b. Oyo, Rivers, and Kaduna rounded out the top five, each securing over ₦2b. These states are driving the lion’s share of the revenue. In stark contrast, the bottom ten states, including Bayelsa and Ebonyi, saw much smaller allocations, with each receiving less than ₦2b.

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Total number of traffic crashes by year

Data from the Federal Road Safety Corps (FRSC) highlights a worrying rise in traffic crashes in Nigeria between 2020 and 2022. Fatal crashes and crashes resulting in serious injuries have increased consistently, emphasising a growing public safety challenge on the nation’s roads.

In 2020, Nigeria recorded 11,935 crashes with 2,961 fatalities and 7,627 serious injuries. By 2022, the numbers climbed further to 13,656 total crashes, with 3,309 fatal incidents (a 12% rise) and 8,953 serious injuries (a 17% increase).

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On December 1, 2024, fintech companies including OPay, PalmPay, and Moniepoint announced plans to begin implementing the Electronic Money Transfer Levy (EMTL), a ₦50 charge applied to electronic transfers of ₦10,000 and above. The announcement sparked widespread reactions from Nigerians who expressed concerns about the rising cost of living.

Since January 2024, however, Nigerian states (excluding FCT) have shared ₦82b in EMTL revenue. The South West received the highest allocation of ₦19b, while the South East received the lowest, at ₦11b.

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Causes of road accidents in 2022

In 2022, approximately 36% of road accidents in Nigeria were caused by speeding violations, accounting for 6,578 cases. This reveals the need for drivers to prioritise safety over the rush to reach their destinations. Loss of control closely follows as another significant cause, contributing to 19.9% of accidents.

While speeding dominates, other seemingly smaller actions like wrongful overtaking (5.6%), dangerous driving (5.7%), and sign/light violations (8.0%) still add up to the dangers.

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Temu has embarked on an extraordinary global expansion, cementing its place as a leading e-commerce platform across multiple markets. From its launch in the US in 2022, Temu has quickly become one of the most downloaded shopping apps in the country.

However, Temu's rapid rise has not been without its challenges. Regulators in the EU, US, and South Korea have closely scrutinised the company, examining potential links to labour issues, data protection concerns, and intellectual property violations. Despite these hurdles, Temu has continued to forge ahead, becoming Meta's top advertiser for the year and making a splash with its second Super Bowl campaign in 2024.

As Temu expands into new regions, the company must navigate an evolving regulatory landscape to maintain its momentum and solidify its position as a global e-commerce powerhouse.

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Nigeria's export value increased by 16.8% quarter-on-quarter to ₦20.49 trillion in Q3 2024. Petroleum products (oils, liquefied natural gas, and other petroleum gases) made up 85.52% of its exports, valued at ₦17.53 trillion.

This figure highlights Nigeria's heavy reliance on the oil and gas sector for revenue, emphasising the need for diversification to reduce dependence on a single industry.

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Countries with the lowest GDP per capita (PPP, current international dollars), Jan. 2025
  • All ten of the world’s lowest GDP per capita countries are in Africa, signalling deep economic inequality at the global level.
  • South Sudan has the lowest GDP per capita at just $763, reflecting its ongoing economic struggles and instability.
  • Burundi and the Central African Republic follow, both under $1,300.
  • Even the highest GDP per capita country in this bottom ten, Niger, at $1,978, remains below $2,000.
  • Low GDP per capita directly impacts standard of living, limiting access to quality healthcare, education, and infrastructure.
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Nigeria's share of startup funding raised in West Africa, excluding exits (2019-2024)
  • A staggering 92.16% of all startup funding in West Africa flowed into Nigeria in 2019, showing the country’s lead in attracting investors.
  • Nigerian startups still led, but their share dropped to 68.03% in 2023 and 69.75% in 2024, indicating that other West African countries are starting to attract more investment.
  • Despite some shifts, no other West African country has come close to breaking Nigeria’s dominance. The remaining 20-30% of funding is spread across multiple nations, making it difficult for any single country to challenge Nigeria's position.
  • While Nigeria’s startup dominance is impressive, a more balanced regional investment landscape could lead to greater innovation and economic growth across multiple countries.
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Total funding raised in West Africa, excluding exits (2019 - 2024)
  • Nigeria is the clear leader, securing over 80% of total startup funding in West Africa. Its ecosystem benefits from a strong fintech sector, a large market, and increased investor trust.
  • Ghana and Senegal are challengers, attracting $460M and $410M, respectively. These countries are proving they can compete but still have a long way to go to match Nigeria.
  • Nigeria’s startups raised over ten times more than Ghana, the second-highest country on the list. This highlights an imbalance in investor focus.
  • Benin ($133M) and Côte d'Ivoire ($107M) are rising players but remain in the shadows of the region’s top three. Their growing startup ecosystems could gain more traction with the right policies and investments.
  • Mali, Togo, and Sierra Leone struggle to attract major funding, receiving less than $30M each. This signals a need for stronger ecosystems and investor confidence in these markets.
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Share of global population - Top 10 countries as of 2025​
  • India is now the world’s most populous country, surpassing China with 17.78% of the global population.
  • China closely follows with 17.30%, showing that even though its population growth is slowing, it remains one of the most dominant globally.
  • The United States (4.23%) remains the most populous Western country, reinforcing its continued economic and political significance.
  • Nigeria leads Africa with 2.87% of the global population, showing that Africa's rising demographic weight will be a major factor in future economic and workforce trends.
  • Ethiopia (1.63%) is another African country on the rise, showing how Africa’s demographic shift is accelerating beyond just Nigeria.
  • Russia (1.76%) is the only European country on the list, underscoring Europe’s declining share in global population dynamics compared to the rapid growth of Asian and African nations.
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  • In 2023, over 324 million chickens were slaughtered in Nigeria, making them the dominant source of meat.
  • Goats and sheep followed at 28.23 million and 19.45 million, respectively, but their slaughter numbers were far lower than poultry.
  • Pigs accounted for 8.11 million slaughters, while cows were the least slaughtered at 3.32 million, likely due to their higher economic value.
  • The disparity in slaughter numbers highlights Nigeria's preference for poultry over red meat, aligning with global trends in cost-effective protein consumption.
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  • Moniepoint began as TeamApt in 2015, building solutions for banks before pivoting to agent banking in 2019.
  • In 2022, Moniepoint secured a banking license, launched business banking, and processed 5.2 billion transactions.
  • The company rebranded to Moniepoint in 2023, relocated to the UK, and launched personal banking.
  • By 2024, Moniepoint achieved unicorn status, with over $200 million in total funding.
  • In 2025, Moniepoint plans to expand into contactless payments and remittances through Monieworld.
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