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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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    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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  • The Nigerian Workplace Report indicates that over 50% of Nigeria’s working population earns less than ₦200,001 monthly. It further highlights that individuals earning above ₦600k are among the top 10% earners.

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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
Number of individuals globally using the internet since the creation of the first website (1991 - 2025)
  • Between 1995 and 2000, internet users jumped from 39.4 million to 394 million, a 900% leap that marked the beginning of the digital era.
  • Just 14 years after the first website, over 1 billion people were online, showing how quickly the internet became essential.
  • Between 2010 and 2015, internet usage grew by 54.5%, slower than before but still powerful, especially in developing regions coming online.
  • With 5.6 billion users in January 2025, most of the world is now online, and future growth will be more about improving access, speed, and quality than just connecting new people.
  • Each phase had its catalyst. In the 1990s, it was websites and email. The 2000s brought broadband and Google. In the 2010s, it was smartphones. Now, it's AI, 5G, and IoT that are quietly shaping the future of internet use.
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CAGR of nominal GDP per capita of the top ten African economies (2020 - 2024)
 
  • At -16.02% CAGR, Nigeria's GDP per capita is shrinking fast, signalling deep economic strain on its population despite being a top 4 African economy.
  • Angola recorded 8.28% CAGR, showing that smaller economies can drive significant per capita progress when policies and investments align with citizen welfare.
  • With 8.23% CAGR, Algeria continues to transform national wealth into measurable benefits for its people.
  • Ethiopia’s 6.86% annual growth in GDP per capita highlights how consistent development efforts can raise living standards even in densely populated, developing nations.
  • A modest 2.52% CAGR for South Africa might not sound like much, but in a mature economy, this reflects resilience and relative stability in per capita income.
  • Egypt has a -1.41% CAGR, showing mild contraction, but far less severe than Nigeria’s economic shrinkage.
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Nominal GDP per capita of top 10 African economies (2024)
 
  • Despite being among the top 4 economies by size, Nigeria ranks low in GDP per capita, revealing a disconnect between total wealth and individual prosperity.
  • With the highest nominal GDP and highest per capita GDP, South Africa showcases balanced growth and better wealth distribution.
  • Countries like Ethiopia and Nigeria have huge populations, which dilutes their GDP and drags down per capita figures.
  • Though fifth in total GDP, Morocco performs better in GDP per capita, highlighting efficiency in wealth distribution.
  • This proves that a country’s economic “size” doesn’t always translate to individual opportunity, wealth, or standard of living.
  • Economies like Nigeria and Ethiopia must focus not just on increasing GDP but on ensuring that economic growth improves lives at the grassroots level.
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Key Takeaways:

  • The United States exported $318.7 million worth of agricultural products to Nigeria in 2024.
  • Wheat accounted for nearly half of the US' agricultural exports to Nigeria, valued at $148 million.
  • The trade balance substantially favours the United States, with exports to Nigeria ($318.7 million) nearly double imports ($114.7 million).
  • The top three products account for 74.49% of all agricultural exports to Nigeria.
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Key Takeaways:

  • Oilseed meal and cake constituted the United States' largest agricultural import from Nigeria, valued at $29.9 million.
  • Total US agricultural imports from Nigeria in 2024 amounted to $114.7 million.
  • Cocoa beans represented 19% ($21.8 million) of Nigeria's agricultural exports to the US.
  • Oilseed, cocoa, and tea collectively accounted for 59% of the total agricultural exports from Nigeria to the United States.
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Key takeaways:

  • Revenue grew impressively from ₦27.8 billion in 2015 to ₦129.2 billion in 2024, a 364% increase.
  • The company recorded profitable years between 2017 and 2022, peaking at ₦1.15 billion profit in 2015.
  • From 2015 to 2019, the company maintained consistent single-digit growth, averaging 9% each year.
  • The revenue more than tripled between 2020 and 2024, reaching ₦129 billion in 2024.
  • Losses were recorded in 2016, 2023, and 2024.
  • Despite revenue more than doubling between 2022 and 2024, profitability reduced dramatically.
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  • Rwanda is a global leader in gender-inclusive governance, with nearly two-thirds (63.8%) of its parliament occupied by women.
  • Latin American nations dominate the list, with Cuba (55.7%), Nicaragua (55.0%), and Mexico (50.2%) showing strong female political participation.
  • The UAE stands out as the only Middle Eastern country in the top 10, achieving 50% female representation.
  • Despite being a high-income European nation, Monaco has the lowest representation among the top 10, with women holding only 45.8% of seats.
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  • Only 4 countries have ever topped global oil production since 1973: the US, USSR, Saudi Arabia, and Russia.
  • The USSR and Saudi Arabia each led for 17 years, while Russia held 9 and the U.S. reclaimed the top with 8 years, mostly after the shale boom.
  • Top producers have peaked at 9–12 million barrels/day, but the US once dropped as low as 5 million in the 2000s.
  • Nigeria peaked at 2.5 million barrels/day in 2005 and 2011, but never reached the top five.
  • Global crude oil production grew by over 26 million barrels per day between 1973 and 2023—an increase of nearly 47% over 50 years.
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Key takeaways:

  • Revenue grew by 402% over a decade, from ₦14 billion in 2015 to ₦70 billion in 2024.
  • The company witnessed an extraordinary post-pandemic recovery, with 111% revenue growth in 2021.
  • There was a consistent strong performance from 2021-2024, with revenue more than tripling.
  • Transcorp Hotels recorded a profit of ₦14.9 billion in 2024, representing a 326% increase from 2015.
  • Despite setbacks, Transcorp Hotels’ performance improved notably from 2021 onward, marking strong growth.
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Key takeaways:

  • Despite a profit after tax record of ₦65.5 billion in 2024, Oando Plc recorded a negative growth rate from 2015.
  • The company faced significant profit losses for several years, with notable improvements in 2021 and 2024.
  • Profit after tax fluctuated, with a notable improvement in 2024, reaching ₦65.49 million.
  • The year-on-year growth rate of 148% in 2022 indicates great market positioning.
  • From ₦477.1 billion in 2020 to ₦4.1 trillion in 2024, Oando Plc's revenues increased by 764%.
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The average amount of time (in hours and minutes) that internet users worldwide aged 16+ spend with each medium or device each day (as of Jan 2025)
  • With nearly four hours daily, mobile internet is the primary way people interact with content.
  • At 3 hours and 13 minutes daily, TV remains relevant but is being outpaced by mobile consumption.
  • With 2 hours and 21 minutes daily, platforms like Instagram, TikTok, and X are where people spend much of their mobile time.
  • Digital press consumption (58 minutes daily) outpaces traditional print (42 minutes), signalling a continued decline in physical media.
  • Users spend 1 hour 25 minutes on music streaming, but gaming consoles only see 1 hour and 3 minutes, showing that on-the-go entertainment is preferred.
  • With podcasts at 52 minutes and radio at 51 minutes, audio content is still relevant but not as dominant as video and social media.
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Cellular mobile connections compared with total population (Percentage per region), as of Jan. 2025
  • Southern Africa is the global leader in mobile connectivity, with 183% mobile connections compared to its population, significantly ahead of all other regions.
  • The world’s most connected regions are outside North America and Western Europe, with Eastern Europe (144%), Eastern Asia (133%), and Southern Europe (131%) leading the charge after Southern Africa.
  • Africa is deeply divided in mobile adoption. While Southern Africa dominates, Eastern Africa (79%) and Middle Africa (66%) have a lower penetration.
  • Some regions have more mobile connections than people. The fact that multiple regions exceed 100% connectivity means that many individuals own multiple SIM cards, a trend driven by business needs, mobile money, and telecom competition.
  • Western Africa, at 85% connectivity, is doing better than Eastern Africa but still lags behind the global average, signaling potential for more growth in mobile adoption.
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  • Algeria leads Africa with 41 active oil rigs, making up nearly 29% of the continent's total count.
  • Nigeria follows with 31 rigs, confirming its strong position in West Africa’s upstream oil activity.
  • Egypt ranks third with 23 rigs, while Libya maintains 18 rigs despite its fluctuating political climate.
  • The top seven countries host 122 of Africa’s 144 rigs, showing drilling operations are concentrated in just a handful of nations.
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  • July 2025 saw the ASI rise by 8.6%, the largest monthly jump in over a year.
  • The index grew steadily for four straight months from April to July 2025.
  • ASI climbed from 99.5K in June 2024 to 126.7K in July 2025, a 27.3% increase overall.
  • August 2024 recorded the sharpest monthly drop at -2.9%.
  • December 2024 and January 2025 posted back-to-back strong gains of 2.5% and 3.8% respectively.
  • May and June 2025 saw healthy gains of 4.2% and 6.6%, paving the way for July’s surge.
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  • Manufacturing hit a record $64.90b in 2022, after steady growth from 2016.
  • Output fell 55% to $25.36b in 2024, the worst one-year drop since 1999.
  • Military-era lows: Slumped from $33.33b (1981) to $8.08b (1989).
  • Democratic rebounds: Output grew from $9.62b (1999) to $55.33b (2014), and from $35.12b (2016) to $64.90b (2022).
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  • Ronaldo leads the UEFA Champions League scoring chart with 141 goals, ahead of Messi's 129.
  • Salah and Drogba are the only two African players in the top 20 scorers list.
  • Just 8 goals separate the 10th and 20th-ranked scorers, showing how tight competition is outside the top ranks.
  • Haaland and Mbappé are the only two players under 30 in the top 15.
  • Legendary players like Neymar and Ibrahimović never broke into the top 10 despite long careers at top clubs.
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  • Starlink is cheaper than traditional ISPs in five out of the twelve African countries analysed.
  • Zimbabwe has the widest price gap, with traditional ISPs costing over 21 times more than Starlink.
  • Nigeria currently offers the cheapest traditional ISP plan at $9.59, undercutting Starlink’s price by a wide margin.
  • In Ghana and Kenya, Starlink’s monthly subscription is less than half the cost of the leading ISPs.
  • Only slight differences exist between Starlink and traditional ISP prices in Zambia and Botswana, indicating near-parity.
  • Mozambique and Cape Verde have moderate Starlink price advantages, suggesting potential for market competition.
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  • Sudan recorded the steepest GDP decline in Africa in 2024 at -13.49%.
  • Botswana’s economy contracted by -2.99%, the second-worst on the continent.
  • Libya was the only other country in the bottom 10 with negative growth at -0.61%.
  • South Africa, with 0.58% growth, continues to struggle with low economic momentum.
  • Sao Tome & Principe and Equatorial Guinea both recorded growth below 1%.
  • Despite being Africa’s largest economy, Nigeria’s 3.43% growth places it closer to underperforming countries than to the continent’s fastest risers.
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