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  • With assets worth ₦536 billion, Leadway Assurance was the leading insurance company by total assets as of 2022  two times more assets than second-placed AIICO Insurance with ₦270 billion. These are the top ten insurance companies in Nigeria by total
    assets as of 2022.

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    According to UNESCO, low-budget movies from Nigeria and other African countries account for most of the films produced annually in Africa. Here is a breakdown of the estimated number of films produced annually, private television channels, and cinema screens by African region.

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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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    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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  • 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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    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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  • In Q2 2023, Nigeria collected 10% more VAT than in the first quarter, 30% more than in Q2 2022, 53% more than in Q2 2021, and 555% more than 40 quarters ago in Q2 2013. Do you see VAT collections reaching one trillion naira soon?

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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
Total number of additional primary and secondary teachers needed by region by 2030
  • Sub-Saharan Africa faces the most severe teacher shortage, needing over 15 million educators by 2030, more than any other region.
  • Southern Asia has the second-highest demand, requiring 7.78 million teachers, highlighting a major education gap in fast-growing economies.
  • Europe & Northern America also need 4.83 million teachers, proving that even developed regions struggle with teacher shortages.
  • South-Eastern Asia (4.54M), Northern Africa & Western Asia (4.26M), and Eastern Asia (3.28M) are all battling significant shortages, showing a global education crisis.
  • Even smaller regions like Oceania (0.28M) and Central Asia (0.75M) require thousands of teachers, emphasising that no region is immune to this issue.
  • If action isn’t taken now, millions of children will face overcrowded classrooms and lower educational quality, potentially stunting economic growth and workforce readiness for future generations.
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  • DR Congo holds the largest forest area in Africa, but it declined by nearly 33,000 km² from 2019 to 2022.
  • Angola lost over 16,000 km² of forest, decreasing from 671,624 km² to 654,972 km².
  • Tanzania, Zambia, and Mozambique forests recorded declines, though at different rates.
  • Mozambique has the smallest forest area among the top countries, standing at 362,673 km² in 2022.
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  • The majority of Nigerian crypto holders (70.6%) have balances below $100
  • Only 4.4% of Nigerians hold over $1,000 in their crypto wallets, indicating low high-value ownership
  • Wallets with balances between $100 and $500 account for 19.4%, showing moderate adoption
  • The data highlights that most Nigerians engage with crypto at a low-value level, possibly due to financial limitations or speculative testing
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- YouTube generated $7B in ad revenue in 2017, which jumped to $11B in 2018, an approximate 57% increase in just one year.
- By 2019, revenue reached $15B, reflecting steady growth as digital ad spending increased.
- Between 2020 and 2021, revenues leaped from $20B to $29B, marking a remarkable 45% year-over-year increase.
- Despite a plateau at $29B in 2022, revenue rebounded to $32B in 2023 and climbed to $36B by 2024.
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- LinkedIn's revenue doubled from $2.3 billion in 2017 to $5.3 billion in 2018, marking a powerful initial surge.
- By 2019, the revenue reached $6.8 billion, indicating a consistent and reliable growth pattern.
- Between 2020 and 2022, the revenue climbed from $8.1 billion to $13.6 billion, showcasing a period of rapid expansion.
- By 2024, revenue soared to $16.4 billion, nearly seven times the 2017 figure, reflecting a highly effective monetisation strategy.
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- Monthly active users tripled: The user base grew from 38 million to 117 million, reflecting a significant expansion in overall reach.
- Daily engagement quadrupled, increasing from 8.5 million users to 40.5 million users, indicating a deeper and more consistent user engagement.
- Paid subscribers skyrocketed: A dramatic rise from 900,000 paid subscribers to 9.5 million paid subscribers highlights an exceptional monetisation success.
- The most pronounced growth occurred from Q1 2023 onward, emphasizing a period of rapid adoption and conversion.
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  • Egypt and Algeria dominate the top spots, reflecting their significant military investments and strategic importance in North Africa.
  • Nigeria and South Africa follow, representing West and Southern Africa, respectively.
  • Countries like Ethiopia, Angola, and the DRC have notable military capabilities but face internal challenges that may impact their effectiveness.
  • Kenya and Chad have relatively weaker militaries, though they still play important roles in their respective regions.
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Key takeaways:

  • In December 2024, the top five states with the highest average kerosene prices were: Abuja (₦2,950.0), Akwa Ibom (₦2,538.3), Kaduna (₦2,510.6), Cross River (₦2,430.7), and Sokoto (₦2,400.1).
  • Abuja recorded the highest average price of kerosene in December 2024, while Borno state recorded the lowest price.
  • The price of kerosene per litre ranged from ₦1,520.4 to ₦2,950 across Nigerian states in December 2024.
  • The percentage difference in the price of kerosene across Nigeria states in December 2024 is approximately 63.9%.
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  • Airtel Africa leads the Nigerian stock market with a market cap of ₦8.11 trillion naira, followed by Dangote Cement at ₦8.10 trillion and BUA Foods at ₦7.52 trillion.
  • The largest public companies in Nigeria are mostly in financial services, industrial goods and consumer goods.
  • A total of 16 Nigerian public companies have surpassed the ₦1 trillion market cap threshold.
  • The lowest-ranked trillion-naira company, First HolCo, has a ₦1 trillion naira market cap.
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Key takeaways: 

  • The boneless beef price recorded the largest increase of more than ₦3,620 on average, followed closely by dried catfish (+₦3,619.35) and frozen chicken (+₦3,583.82).
  • Prices of major animal proteins have more than doubled, with price increases ranging from ₦1,900 to ₦3,630 on average.
  • The top 20 food items saw price hikes of at least ₦1,900.
  • The cost of a medium-sized crate of eggs more than tripled between May 2023 and December 2024.
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Key takeaways:

  • The total wealth of the three richest women surpasses $259 billion.
  • Alice Walton is the only woman in the world whose net worth exceeds $100 billion.
  • These women share a legacy of inherited wealth that they have successfully transformed into increased wealth.
  • Each of the top three richest women holds a net worth greater than $70 billion.
  • The top three richest women in the world are engaged in philanthropic endeavours.
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  • Women-led businesses in Africa raise significantly less funding than male-led counterparts. In 2017, female-led startups secured only $1 for every $25 raised by male-led startups, and this disparity persisted through 2024.
  • Despite making up 26% of all entrepreneurs in Africa, women receive less than 10% of total investment capital.
  • Women in Africa face structural financing challenges, including limited collateral, fewer investment networks, and biases in lending decisions.
  • While some countries have introduced financial inclusion programmes, overall access to credit for women remains disproportionately low.
  • The rise of women-focused venture funds, such as WIC Capital and Janngo, signals a slow but emerging shift towards more equitable funding distribution.
  • If this trend continues, Africa risks stifling economic growth by not fully leveraging the entrepreneurial potential of women-led businesses.​​
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  • Ethiopia recorded a total of $46.43 billion in foreign direct investment between 1990 and 2024.
  • Its annual FDI inflows surged from just $10 million in 1990 to $3.98 billion in 2024, reflecting massive investor interest over time.
  • The country experienced three major FDI booms in 1997–2004, 2011–2014, and 2015–2016, driven by policy reforms and industrial expansion.
  • After a pandemic-era dip in 2020, Ethiopia rebounded strongly in 2021 with $4.26 billion in inflows, maintaining high investment momentum through 2024
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  • Nigeria imported $281 million worth of generator sets in 2024.
  • China remained the dominant supplier, accounting for $195 million, or nearly 70% of total imports.
  • Other top suppliers included India ($20.6M), Germany ($15.4M), and South Korea ($16.5M).
  • Compared to 2023, imports from China dipped slightly (from $202M to $195M), and other countries like Germany and India also saw declines.
  • The data captures a wide range of generator types — petrol, diesel, wind-powered, and rotary converters — under HS Code 8502.
  • Mirror data reflects only officially reported trade and excludes informal or undocumented imports.
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  • Lebanon and Nigeria top the global list, recording millionaire population declines of -60% and -53% respectively over the past decade.
  • Three African countries, Nigeria (-53%), Angola (-36%), and South Africa (-12%), appear in the top 10, signalling a regional pattern of wealth erosion.
  • Pakistan (-40%), Egypt (-26%), and Argentina (-22%) rank among the top 10, showing that sharp millionaire losses extend beyond Africa into Asia and Latin America.
  • The average millionaire decline across the top 10 countries is over 33%, highlighting a widespread erosion of wealth in politically and economically vulnerable regions.
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  • Cars were involved in the highest number of road accidents, recording 665 cases over the four-year period.
  • Luxury buses and bicycles recorded the highest quarter-on-quarter (QoQ) growth in accident involvement.
  • Tankers, cars, and motorcycles saw the sharpest QoQ declines, with accident rates falling by 47.2%, 30.6%, and 24.7% respectively.
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  • June 2025 PMI: 51.6, down from 52.7 in May — marking a three-month slowdown in growth.
  • Still 2.99% above June 2024 levels, when PMI was 50.1 — confirming year-on-year improvement.
  • The June dip reflects subdued demand and persistent inflation, echoing broader market sentiment.
  • A PMI above 50 signals expansion; Nigeria’s figure signals ongoing growth, though losing speed.
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  • Morocco recorded a total of $54.58 billion in FDI over the past 34 years.
  • Morocco's FDI inflows peaked twice, in 2014 and 2018, both $3.5 billion.
  • The lowest FDI inflow Morocco recorded was in 1990, amounting to $0.17 billion.
  • From 2006 onward, Morocco's FDI inflows remained mostly above $1 billion, with fluctuations.
  • The most recent year, 2024, showed a modest recovery after a significant dip in 2023.
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