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  • Voice is still king for Airtel Africa, accounting for the largest share of its revenue between 2019 and 2023. However, the revenue from data and Airtel Money, its mobile money services have more than doubled within this period. Revenue from voice and others didn't record a sharp increase unlike data and Airtel Money.

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    Nigeria's exports amounted to ₦35.9 trillion in 2023, with the Netherlands its top destination accounting for ₦4.5 trillion, followed by Spain with ₦3.3 trillion. India and the United States were also top destinations. Here are Nigeria's top export destinations in 2023.

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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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  • 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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  • 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

Until 1976, Ghana was the world’s largest cocoa producer, with an average annual output of 410,000 tonnes. However, Ghana lost this lead when production fell to 277,000 tonnes in 1997, allowing Côte d'Ivoire and Brazil to overtake.

Since 1977, Côte d'Ivoire has led global cocoa production, increasing its output by 634%.

Nigeria’s cocoa production peaked at 485,000 tonnes in 2006, consistently ranking among the top ten producers.

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21% of the ₦17.67 billion lost to fraud in 2023 was recorded in October totaling ₦3.76 billion

Fraud data submitted to the Nigeria Inter-Bank Settlement System by financial institutions in 2023 reveals that customers lost ₦17.67 billion across 95,630 cases, with the highest loss of ₦3.76 billion occurring in October 2023

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66% of fraud in 2023 was committed using social engineering

In 2023, 66% of fraud cases were committed using social engineering, the most common technique. Mobile channels accounted for 50% of fraud, followed by web channels (23%) and POS channels (18%).

Technique: How the fraud is committed.
Channel: Where the fraud is committed.

Techniques refer to the methods fraudsters use to deceive victims, and Channels refer to the platforms through which the fraud is carried it.

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The cost of bus fares for intracity journeys rose by 98% after the fuel subsidy removal, with a 39% increase in just 18 months

After the fuel subsidy was removed, the cost of bus fares for intracity journeys rose by 98% between May 2023 and June 2023. In just 18 months, fares increased by 39%  significantly affecting commuters.

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AI Preparedness Index by regions

Nigeria and other sub-Saharan African nations still lag in AI readiness, scoring 0.34 on the AI Preparedness Index. This shows the need for more investment, better infrastructure, and a willingness to embrace the AI revolution. For those who want to understand how global digital progress intersects with academic work, consider exploring services like dissertation ghostwriter – especially in regions where access to expert academic support may be limited.

The AI Preparedness Index measures the level of AI readiness across 173 countries and 13 regions. It evaluates factors such as digital infrastructure, workforce skills, innovation, economic policies, and ethical regulations.

Note: Scores range from 0 to 1, with 1 being the most prepared.

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Lassa fever cases and deaths (2020 - 2024)

Lassa fever cases and deaths have shown significant variations over the years, but the death rate decreased in the first ten months of 2024 despite rising in 2023. This downward trend reflects improvements in early detection, medical interventions, and public health measures.

For many communities across Nigeria, Lassa fever remains a serious health concern, especially in rural areas with limited access to healthcare facilities. As efforts to combat the disease intensify, public awareness campaigns, proper hygiene, and access to treatment have played a vital role in reducing fatalities and giving hope to affected families.

Note: Data for 2024 only include the first ten months of the year

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The cost of a healthy diet in Nigeria rose by 91% in 11 months

The Cost of a Healthy Diet (CoHD) represents the most affordable combination of locally available foods that meet global dietary standards for a balanced diet, excluding transportation and meal preparation costs.

In Nigeria, the CoHD surged by 91%, rising from ₦703 in October 2023 to ₦1,346 in September 2024. This sharp increase underscores Nigerians' escalating financial challenges in maintaining a nutritious diet.

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40% of NELFUND’s disbursed tuition loans were sent to institutions in the North West

The Nigerian Education Loan Fund (NELFUND) disbursed tuition loans to 58 institutions, with the South West region accounting for 20 institutions. The South South and South East regions had the fewest beneficiaries, with only five institutions each.

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Ondo State election results at the 18 LGAs (the two major parties)

In Ondo State, residents across all 18 local government areas came out to perform their civic duties in the recent gubernatorial election. With over two million registered voters, only 508,963 voted during the election; 11,886 were invalid, leaving 497,077 as valid votes.

The APC secured victory in every LGA, earning a total of 366,781 votes. Meanwhile, the PDP, the closest competitor, garnered 117,845 votes. Together, the APC and PDP had a total valid vote count of 484,626.

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Millions of children missing basic education can affect future workforce skill levels and poverty cycles, especially in sub-Saharan Africa, which has the highest number of out-of-school children.

Between 2000 and 2023, Central and Southern Asia achieved a 72% reduction in out-of-school primary-age children, the largest global improvement.

Meanwhile, sub-Saharan Africa only managed a 4.4% decrease. This highlights the critical need for educational investment in regions still lagging behind.

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Global smartphone shipments market share by companies in 2024 (Q1-Q3)

Samsung consistently led the global smartphone shipments market through the first three quarters of 2024, maintaining the highest market share in each quarter.

Apple and Xiaomi followed closely, while other brands, including Oppo, Vivo, and Transsion, were among the top brands. The top three smartphone brands (Samsung, Apple, and Xiaomi) dominate the market, collectively capturing nearly half of the global share in the first three quarters of 2024.

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Diabetes prevalence and percentage of diabetes-related deaths of people under 60 years by Region (2021)

Today, World Diabetes Day, we’re reminded of the urgent need to address the growing impact of diabetes across the globe. This day is a call to action to support preventive measures, raise awareness, and improve healthcare access for those affected by this chronic condition.

In the Western Pacific region alone, 205.6 million people are living with diabetes, and it also has one of the highest percentage of diabetes-related deaths (7.0%) in people under 60.

By comparison, Europe, while also heavily impacted, reports a lower death rate among this age group. Though Africa has the lowest number of people living with diabetes, it has a high percentage of diabetes-related deaths in people under 60.

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  • The North-West region received ₦66.55 billion, more than double its remittance (₦28.31B), showing a heavy reliance on federal VAT sharing.
  • Zamfara, the lowest contributor (₦1.45B), received the highest percentage gain (+433%), getting ₦7.72B, while Kano, the highest contributor (₦9.59B), had the smallest relative gain (+41.5%).
  • Kaduna and Katsina, despite remitting ₦3.50B and ₦3.86B, received ₦10.18B and ₦10.01B, respectively, nearly tripling their remittance.
  • Kano remitted 34% of the zone’s VAT but received only 20.4% of the total allocation, reinforcing that VAT is distributed based on equality and not economic strength.
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  • The North-East remitted only ₦14.98 billion but received ₦46.68 billion, showing a 211.6% gain due to sharing.
  • Taraba, the lowest contributor (₦0.94 billion), saw the highest percentage gain (635%) with an allocation of ₦6.91 billion, reinforcing that smaller economies benefit the most from VAT sharing.
  • Bauchi, despite remitting just ₦2.44 billion, received the highest allocation (₦8.93 billion), a 266% increase, illustrating how VAT is shared based on equality and population, not economic activity.
  • Every state in the region received at least 2× what they remitted, highlighting the North East’s reliance on VAT sharing and fuelling the fiscal federalism debate on whether VAT should be retained at the state level.
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  • Men hold the majority share in crypto adoption (61%), indicating that the industry is still male-dominated despite growing female participation.
  • Over 219M women own crypto globally, showing that female adoption is increasing but still lags behind male ownership.
  • With 6.8% of the world’s population involved in crypto, adoption is growing, but there is still massive untapped potential, especially among women.
  • Bridging the gender gap could drive the next wave of crypto adoption, and greater financial inclusion and education could encourage more women to enter the space.
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Cumulative issuance of Eurobonds by African countries (Jan 2024 - Jan 2025)
  • African countries issued a total of $15.7 billion in Eurobonds, demonstrating continued reliance on external debt markets.
  • While the first ten months totaled $6.2 billion, November and December alone added $7.5 billion, marking a sharp increase.
  • The total issuance jumped from $6.2 billion in October to $10 billion in November and then $13.7 billion in December, showing a drastic shift in borrowing.
  • Eight African countries drove this activity, as the borrowing is concentrated among key economies.
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  • Sterling Bank's origins trace back to 1960 as Nigeria Acceptances Limited, later becoming the first merchant bank in 1969
  • In 2006, NAL Bank merged with four other banks, forming Sterling Bank as it is known today
  • Sterling explored several merger opportunities, including with Ecobank in 2008 and FirstRand in 2011, but these plans did not materialise
  • In 2023, Sterling transitioned into a holding company structure, spinning off its alternative finance arm as a standalone entity, AltBank
  • The bank began raising fresh capital in 2024, with shareholders approving a ₦200 billion equity capital raise and  securing a $50 million private placement as part of its recapitalisation
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  • FirstBank has undergone multiple transformations since its establishment in 1894, adapting to industry shifts and regulatory changes.
  • The bank transitioned from foreign ownership to local incorporation in 1969, aligning with Nigeria’s indigenisation policy.
  • Structural and branding changes continued, including its rebranding to First Bank of Nigeria in 1979 and restructuring into a holding company in 2012.
  • Recent developments include FBN Holdings’ name change to FirstHoldCo and the bank’s planned relocation of its headquarters to Eko Atlantic City in 2025.
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