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  • Of the $157 million worth of human hair exported globally in 2022, India had the highest share, with almost 90%. The top four, which are Asian countries, accounted for 95%. Here are the world's top human hair exporting countries in 2022.
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    Four of the seven African countries that have been certified malaria-free are North African; two are East African and one is Southern African. Here are the countries in Africa that have been certified malaria-free.

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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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    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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  • 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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    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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  • Global inflows of foreign direct investment fell by 12% in 2022, and Africa saw a 44% decline from $80 billion in 2021 to $45 billion. According to UNCTAD data, only two of Africa's five major regions — North and East Africa — saw a rise in FDI in 2022.
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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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  • 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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Other Insights
China, India, and Nigeria accounted for 61% of the global groundnut production between 1961 and 2022

From 1961 to 2022, Nigeria contributed about 7.3% to the global groundnut production, making it a key player in the sector. Alongside China and India, which also dominated production, these three countries accounted for 61% of the world’s groundnut supply.

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States' share of Nigeria's public debt has dropped from 20.5% in 2019 to 8.5% in 2024, while the federal government’s debt has risen to over 91% of the total, in dollar terms.

The FG's debt grew from $66.7 billion to $83.6 billion in this period, while the states' debt dropped from $17.2 billion in 2019 to $7.8 billion, marking a shift in borrowing dynamics at federal and state levels.

Notably, states and FCT debt decreased in dollar terms but increased in naira terms, while FG debt rose in both dollar and naira terms over the same period.

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Nigeria’s public debt decreased in dollar terms between June 2023 and June 2024. However, when converted to naira, it jumped to ₦134.3 trillion, largely due to currency devaluation. This sharp increase in debt could lead to tighter budgets, potentially affecting public services and everyday costs for Nigerians.

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Primary school enrolment (1999-2021)

Nigeria's primary school enrolment has increased significantly, reaching 30.5 million enrolments in 2021. This highlights the country's efforts to expand access to education, with consistent annual growth in enrolments over the past two decades.

Notably, male enrolments have consistently surpassed female enrolments annually, but the gaps keep decreasing, signaling continued efforts towards gender parity in education.

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Bitcoin has experienced a remarkable surge, with an increase close to $20,000 in just ten days to reach an all-time high (ATH) of $89.6K on November 11, 2024. This rapid rise depicts the potential of cryptocurrency markets, with Bitcoin leading the charge as the world's most recognised digital asset. The recent price movement shows a growing interest in Bitcoin as an investment asset.

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The Nigerian Education Loan Fund (NELFUND), established by the Federal Government of Nigeria, has disbursed over ₦5 billion in tuition payments to 58 universities, with Bayero University, Kano State, receiving ₦834 million.

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State's share of the 13% oil derivation funds

Nigeria’s 13% oil derivation fund is primarily allocated to four states — Delta, Akwa Ibom, Bayelsa, and Rivers — which collectively receive over 90% of the fund annually. This funding is crucial for developing these oil-producing states, with Delta State consistently receiving the largest share in recent years. Other states, including Abia, Anambra, Edo, Imo, Lagos, and Ondo, receive smaller portions.
The 13% derivation fund is part of Nigeria’s revenue-sharing formula aimed at compensating oil-producing states for oil extraction's environmental and infrastructural impacts.

Note: Small allocations to Soku and Gbetiokun are also included in "others".

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Tax-to-GDP-ratio-across-regions-2013-2021
 

Nigeria's tax-to-GDP ratio remains significantly lower than regional averages, showing a gap in revenue mobilisation. While OECD countries reached a tax-to-GDP ratio of 34.2% in 2021, and even the African regional average stood at 18.8%, Nigeria's tax revenue represented only 6.7% of its GDP. This disparity emphasises the need for strategic tax policy reforms to strengthen Nigeria’s fiscal capacity.

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In 2020, OPEC's oil prices dropped by 35% as global demand collapsed due to the COVID-19 pandemic. Two years of economic recovery followed before Russia, one of the world's largest oil producers and importers, invaded Ukraine in 2022. This invasion triggered global economic instability, resulting in a 21% decline in oil prices the following year.

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Poverty rate: 87 million Nigerians raise rate to 38.9% in 2023

Despite various cash assistance programmes, including the Conditional Cash Transfer (CCT) Program, and extensive macroeconomic reforms such as the unification of the exchange rate and the removal of fuel subsidies, poverty in Nigeria rose to 38.9% in 2023, leaving 87 million Nigerians in poverty.

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Tax Revenue Structures Across Regions (2021)
     

Nigeria's tax revenue structure relies heavily on corporate income tax, which constitutes 35% of the total revenue, surpassing personal income tax and social security contributions. In contrast, the rest of Africa and OECD countries demonstrate a more balanced tax composition, with significant shares from personal income tax, VAT, and other tax categories.

This heavy reliance on corporate income tax highlights the unique fiscal structure in Nigeria, where other forms of tax contributions are less prominent. For those who wish to understand such fiscal models in depth or need support in presenting complex academic topics, services like hausarbeit schreiben lassen can offer professional guidance and structured academic writing tailored to economic subjects.

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Duration between Nigeria’s national grid issues (January 2024 till date)

Nigeria’s national grid has experienced a record ten collapses/disturbances impacting power supply nationwide. From February to November, frequent disruptions have pointed out the grid’s vulnerability and the need for sustainable solutions to Nigeria’s energy crisis. These grid issues reoccur every 31 days on average, affecting households, businesses, and industries.

 

 

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Key Takeaways:
  • The average price for 12.5kg cooking gas varies between ₦15,000 and ₦20,300
  • The average price difference of cooking gas among Nigerian states is 28.97%
  • Four out of the six states in the Southwest region are among the top 20 Nigerian states with the highest average cooking gas prices
  • Nine out of Nigeria's 36 states plus Abuja have an average price for 12.5kg cooking gas that exceeds ₦18,000
  • Taraba State stands out as the only state in Nigeria with an average cooking gas price surpassing ₦20,000
  • The national average price of 12.5kg cooking gas in Nigeria is ₦17,274.16
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Key takeaways:
  • The average kerosene price increased by approximately 70.5%, rising from ₦1,206.1 in May 2023 to ₦2,056.4 in December 2024.
  • Prices witnessed a moderate growth rate of 13% from May to December 2023, while the rate of increase escalated sharply in 2024, with a rise of 50.9% from January to December 2024.
  • A notable acceleration in prices began in July 2024, when the price per litre first surpassed ₦1,700.
  • The average price in December 2024 (₦2,056.4) was 51% greater than the average price in December 2023 (₦1,362.3).
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Key Takeaways: 
  • The northern regions of Nigeria experienced higher prices than the southern regions, except for the North East.
  • The North Central region had the highest average kerosene cost, while the South East reported the lowest.
  • There is a significant price difference of about ₦483.7 between the region with the highest price (North Central) and the region with the lowest (South East).
  • Households in the North Central region will likely spend a larger portion of their budget on kerosene than those in the South East region.
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  • Transportation received $6.2 billion dollars, which accounts for 65% of all Chinese loans to Nigeria
  • Energy projects received $1.2 billion, highlighting China’s role in Nigeria’s power infrastructure
  • Industry and trade/services had the least funding at $368.2 million dollars, reflecting lower Chinese loan priorities in these areas
  • China’s loans to Nigeria between 2000 and 2023 have largely focused on infrastructure development, particularly in transportation and energy
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  • Construction and mining dominate Chinese FDI in Africa, accounting for nearly 60% of the total investments
  • Financial intermediation, manufacturing, and commercial services also received $10.96 billion combined, smaller than construction alone
  • Leasing and commercial services attracted $2.16 billion, the least among all sectors
  • China’s FDI strategy in Africa continues to emphasise resource extraction and infrastructure, reinforcing economic interdependence
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  • Energy attracted the largest share of Chinese loans to Africa, totalling $62.7 billion across 207 loans
  • Transportation received $52.7 billion—the second-highest amount—through 336 loans, making it the most frequently financed sector
  • Agriculture ($2.4 billion) and education ($2 billion) received relatively low funding, reflecting China’s focus on infrastructure
  • Smaller sectors like non-energy mining and services/social protection had minimal Chinese loan activity
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