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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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    Crude oil exports, which made up 81% of Nigeria's export value in 2023 have increased in three consecutive years since 2021. After a 36% decline in 2020, exports increased by 53% in 2021, 46% in 2022, and 37% in 2023 to reach ₦29 trillion.

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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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    Countries by Global Innovation Index 2024

    The Global Innovation Index 2024 reveals a striking contrast in innovation performance between countries globally and across Africa. Switzerland leads the global rankings with an impressive score of 67.5, followed by Sweden (64.5) and the USA (62.4), highlighting their sustained investments in research, development, and technological advancement.

    In Africa, Mauritius takes the top spot with a score of 30.5, followed closely by Morocco (28.8) and South Africa (28.3). However, even Africa's most innovative nations achieve less than half the score of global leaders, indicating a significant innovation gap.

    Nigeria ranks 15th in the African ranking and 113th globally, out of 133 countries, with a score of 17.1.

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  • Countries by Global Innovation Index 2024

    The Global Innovation Index 2024 reveals a striking contrast in innovation performance between countries globally and across Africa. Switzerland leads the global rankings with an impressive score of 67.5, followed by Sweden (64.5) and the USA (62.4), highlighting their sustained investments in research, development, and technological advancement.

    In Africa, Mauritius takes the top spot with a score of 30.5, followed closely by Morocco (28.8) and South Africa (28.3). However, even Africa's most innovative nations achieve less than half the score of global leaders, indicating a significant innovation gap.

    Nigeria ranks 15th in the African ranking and 113th globally, out of 133 countries, with a score of 17.1.

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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
 
  • President Tinubu has spent 237 days (about eight months) abroad since 2023.
  • France alone accounts for 89 days, making it his most-visited country.
  • The UK ranks second with 28 days.
  • The UAE, Brazil, and Saudi Arabia feature prominently.
  • Asia is well represented by China, India, and Japan, indicating growing engagement with Eastern economies.
  • Several African countries appear on the list, showing continued regional diplomacy.
  • Most countries recorded fewer than ten days, suggesting many short, targeted visits.
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  • Lagos is Africa’s third-largest city and ranks 14th globally.
  • Cairo remains Africa’s largest city, with over 23 million people, keeping Egypt at the centre of the continent’s urban network.
  • Kinshasa’s position shows Central Africa’s rising urban influence.
  • There is a steep population gap after the top three cities.
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  • Nigerian artistes have won 16 Grammy Awards in total since the awards’ inception in 1959.
  • Sade Adu and Seal lead all Nigerian-linked artistes with four wins each.
  • Tems represents the new generation, combining multiple wins with a high number of nominations.
  • Burna Boy’s 13 nominations and one win highlight the gap between recognition and awards.
  • Wizkid and several others have entered Grammy history but have yet to convert nominations into multiple wins.
  • Earlier Grammy successes were mostly by Nigerian-born artistes based abroad.
  • Recent wins have come from artistes rooted in Africa’s contemporary music scene.
  • The 2026 Grammys, with Tyla’s win and Fela’s recognition, highlight Africa’s growing influence in global music.
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  • The Nigerian Army is allocated ₦1.5 trillion, surpassing the ₦1 trillion mark and making it the highest-funded force in the proposal.
  • Police formations and commands receive ₦1.3 trillion, exceeding the ₦ 1 trillion threshold in the 2026 budget.
  • The Nigerian Navy’s proposed allocation stands at ₦443.9 billion, keeping it well below the trillion-naira range reached by the top two.
  • The Nigerian Air Force is allocated ₦407.2 billion.
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  • Deployed POS terminals grew from about 156,000 in 2017 to 8.4 million in 2025.
  • Nigeria added more than eight million terminals in eight years, indicating rapid adoption of digital payments.
  • Growth accelerated sharply after 2020, marking a major shift toward cashless transactions.
  • The highest year-on-year growth (116.8%) occurred in 2024, following the naira redesign.
  • About three million terminals were added in 2024 alone.
  • POS agents became critical financial access points during the period of cash shortage.
  • POS terminals now function as mini-banks in many communities.
  • Financial inclusion has expanded through agent-based banking and POS networks.
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  • “Water No Get Enemy” dominates Fela’s Spotify catalogue with 34 million streams, nearly double the second-ranked track.
  • “Zombie” remains one of his most powerful digital performers, with 19.7 million streams.
  • The top two songs account for a large share of total streams, indicating strong concentration around a few classics.
  • Politically and socially themed tracks rank highest, suggesting listeners connect strongly with Fela’s activist legacy.
  • Only three songs have crossed the 10-million-stream mark, showing a steep drop after the top tier.
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  • Ilyas El Maliki is Africa’s most followed streamer, with 846,900 followers on Kick.
  • Nigeria dominates the top ten, contributing seven streamers to the list.
  • Nigeria’s top streamers have a combined 1.35 million followers, showing a strong concentration of influence.
  • Follower distribution drops sharply after the top two.
  • Streaming influence in Africa is country-clustered rather than evenly distributed across the continent.
  • Platforms such as Twitch and Kick are enabling African creators to compete globally.
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  • Only 17 of 37 states and the FCT recorded above-midpoint entrepreneurship scores in 2025.
  • Kogi State leads nationally, outperforming all others on the SoE Index.
  • Strong entrepreneurship performance is not limited to Lagos or major commercial centres.
  • Several northern and middle-belt states rank high.
  • Urban and resource-rich states do not automatically guarantee strong entrepreneurial outcomes.
  • Local governance and operating conditions appear more influential than state size or wealth.
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  • Together, the top three cities — Tokyo, Delhi, and Shanghai — have more than 100 million residents.
  • Asia dominates the ranking, with most of the top ten cities located on the continent.
  • Only three African cities — Cairo, Kinshasa, and Lagos — appear in the top 20.
  • Africa’s three mega-cities together account for nearly 60 million people, showing concentrated urban growth.
  • Urban population growth is driven by migration toward economic and commercial hubs.
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  • Nathaniel Bassey Main peaked at 1.02 million concurrent viewers, ranking 6th globally among YouTube’s most-watched livestreams in 2025.
  • Nigeria is one of the few countries to cross the one-million peak viewer mark, alongside major global entertainment creators.
  • Religious livestreams account for multiple top-ranking events, indicating strong real-time engagement beyond music and entertainment.
  • Peak viewership is tightly clustered at the top, with only about 700,000 viewers separating 1st and 10th place.
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  • The Army has been allocated ₦1.50tn, more than half of the top-ten defence allocations, making it the backbone of Nigeria’s security spending.
  • The Navy (₦443.9bn) and Air Force (₦407.2bn) come next, but together they are far behind the Army.
  • Institutions like the Defence Intelligence Agency, Training and Doctrine Command, and Defence Missions receive meaningful but much smaller funding, reinforcing their support-role status.
  • The Defence Space Administration (₦37.3bn) is on the table, but its small size shows Nigeria is only cautiously stepping into cyber- and space-based security.
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  • The Federal Ministry of Finance dominates with ₦16.78 trillion, accounting for nearly ₦1 in every ₦3 spent among the top ministries.
  • Combined, the ministries of Finance and Budget & Economic Planning control more than 50% of the listed allocations, underscoring the government’s focus on fiscal strategy and economic agenda.
  • The Works and Defence sectors rank third and fourth, reflecting continuous prioritisation of infrastructure development and national security.
  • Education and Health, while critical, receive smaller shares, signalling potential pressure points in human capital development funding
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  • Local companies dominated CIT contributions in most years, accounting for over 50% of payments in 9 of 11 periods between 2015 and 2025 (Q1–Q3).
  • Foreign companies briefly closed the gap in 2023, contributing 49%, the closest they have come to matching local firms.
  • Local companies recorded their strongest share in 2021 at 65%, marking the widest gap between local and foreign contributors.
  • “Other payments” peaked during the pandemic, rising to 17% in 2020 before dropping to 0% from 2022 onward.
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  • The highest number of grid collapses in the past 16 years occurred in 2010, with 42 incidents recorded.
  • During Goodluck Jonathan’s administration, Nigeria’s grid collapsed an average of 24.4 times a year, the highest among the three administrations.
  • Under Muhammadu Buhari, the annual average dropped to 12.8 collapses per year, indicating improved grid stability compared to earlier years.
  • Under Bola Ahmed Tinubu, the average has fallen further to about 6.7 collapses annually.
  • 2016 recorded the highest number of collapses during the Buhari administration, with 28 incidents.
  • The most stable years in the dataset were 2020 and 2021, with only four collapses each.
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  • 26 companies on NGX are valued above ₦1 trillion.
  • MTN Nigeria leads at ₦16.38 trillion, making it the most valuable listed company.
  • The top three firms (MTN Nigeria, BUA Foods, and Dangote Cement) are far ahead of the rest, each exceeding ₦13 trillion.
  • 9 of the 26 companies are in the financial services sector.
  • Telecoms and manufacturing dominate the upper tier, highlighting infrastructure and essential services as market anchors.
  • Energy companies are firmly positioned, reflecting their central role in the economy.
  • Market concentration is high, as a few giants carry disproportionate weight relative to the 122 sub-₦1 trillion firms.
  • Sector diversity exists within the top 26, but most belong to industries tied to basic economic activity rather than emerging tech or high-growth startups.
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  • Over 551,800 Africans were recruited by European powers during World War I.
  • Approximately 86,100 African recruits died, representing a 13.5% fatality.
  • North Africa supplied the most recruits (260,000), slightly ahead of West Africa (250,600).
  • West Africa recorded the highest deaths (36,500) among the regions.
  • East Africa contributed 117,900 recruits, with 13,200 deaths.
  • Southern Africa’s involvement was significantly smaller — 9,500 recruits and 560 deaths.
  • Africa’s participation was geographically uneven, shaped by colonial control and military strategy.
  • More than one in eight recruits did not return, highlighting the human cost beyond battlefield narratives.
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  • Nigeria’s 2026 defence budget is $3.9 billion, placing it far below the top global spenders.
  • It is just 0.5% of the US’ $831.5 billion budget, highlighting a massive scale difference.
  • Compared to China ($303 billion), Nigeria’s budget is only 1.3%.
  • Nigeria’s allocation equals 1.8% of Russia’s $212.6 billion allocation.
  • Even a mid-tier top spender like Australia ($57.4 billion) has a budget almost 15x Nigeria’s.
  • Nigeria’s budget is only 3.6% of India’s $109 billion defence allocation.
  • European powers such as the UK ($88.5 billion), France ($67.2 billion), and Germany ($127.4 billion) all have defence budgets that dwarf Nigeria’s allocation
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  • Local companies dominated CIT contributions in most years, accounting for over 50% of payments in 9 of 11 periods between 2015 and 2025 (Q1–Q3).
  • Foreign companies briefly closed the gap in 2023, contributing 49%, the closest they have come to matching local firms.p
  • Local companies recorded their strongest share in 2021 at 65%, marking the widest gap between local and foreign contributors.
  • “Other payments” peaked during the pandemic, rising to 17% in 2020 before dropping to 0% from 2022 onward.
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