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  • With Chinese platforms like Alibaba and AliExpress serving customers across the globe, China's eCommerce sales in 2021 ($2.78 trillion) are larger than the sales in the USA, the UK, and other countries of the top 10 eCommerce markets globally combined.
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    ASUU strikes have lasted a total of 742 days since 2010. The longest to date was the almost nine-month-long strike of 2020. With another academic strike looming, we give you the trend of all ASUU strikes by duration since 2010.

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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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    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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  • 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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    Every Nigerian president since 1999 left office with a higher dollar to naira exchange rate than when they took office. Will President Tinubu's tenure be the exception?

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  • Jumia Group's quarterly active customers recorded steady growth for five consecutive quarters between Q1 2019 and Q2 2020. It also recorded growth in orders for three consecutive quarters in the same period. Jumia recorded its biggest percentage drop in active customers in Q4 2020.
    The eCommerce giant's biggest order volume was recorded in Q4 2021 with 11.3 million, followed by 10.3 million in Q2 2022. Q4 2021 and Q2 2022 were the only times that Jumia's order volume hit 8 figures in a quarter since Q1 2019.

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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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  • 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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Other Insights
 
African countries grew their presence in the global chocolate industry in 2022, with Nigeria's export value increasing by 652%. Here are Africa's top chocolate exporting countries in the past year.
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Nigeria's government collected ₦2 trillion in corporate income tax in H1 2023, with a spike from ₦469 billion in Q1 to ₦1.53 trillion in Q2. The corporate tax payments for H1 2023 are higher than any full-year collections from 2015 to 2021.
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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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Have you ever considered how much larger the US GDP is in comparison to Nigeria's? Although it would be difficult to compare Nigeria's GDP to that of the US, let's assume it increases by 3.68% annually. How long would it take the nation's GDP to match that of the US in 2022?
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In Q2 2023, the hospitality sector, which includes accommodation and food services, on the other hand, experienced a slowdown and saw its GDP share decrease. Other sectors include the arts, entertainment, and recreation, as well as education.
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Nigeria's GDP increased in Q2 2023, with certain sectors prospering and others failing. Utility industries made significant gains that helped economic growth.
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Based on information from Comité Champagne, 42 African nations imported 5.1 million 75cl bottles of champagne in 2022 for a total of €134.8 million. Find out more here: bit.ly/3qAs8jO

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Nigerians made up 6.5% of international students in the United Kingdom as of 2022
 
In the 2021/2022 academic year, 2.86 million students studied in UK's higher education institutions, with 680k (23.8%) being international students. Nigerians accounted for 44k (6.5%) of overseas students in the UK, trailing China's 151k (22.3%) and India's 126k (18.6%).
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Over the past ten years, there has been a rising trend of fraud and forgery cases in Nigerian banks. Although there was an 88% increase in reported cases in 2021, there was a 27% decrease in 2022, resulting in a 221% increase in financial losses of ₦9.5 billion.
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Over the past ten years, there has been a rising trend of fraud and forgery cases in Nigerian banks. Although there was an 88% increase in reported cases in 2021, there was a 27% decrease in 2022, resulting in a 221% increase in financial losses of ₦9.5 billion.

Eighty-six (86%) of the money involved in these cases was recovered thanks to banks' internal control techniques and assistance from relevant government agencies; ₦45 billion remains unrecovered.

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Following the May 29th announcement of fuel subsidy removal, which took effect on July 1st, transit fares increased drastically in June. Average bus fares within the city increased by 97.9%, while intercity bus trips increased by 42.1%.
Motorcycle (Okada) services witnessed a 33.1% increase in rates, while waterway passenger transport costs increased by 30.7%; air travel on specified routes saw a 4.9% increase in fares.
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In the past decade, Nigerian bank clients reported 35,453 complaints about unsuccessful transactions to the CBN. The data shows a 94.3% resolution rate (33,437 cases), with 5.7% (2,016 cases) still outstanding.
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When streaming giant Netflix expanded its footprint to 130 countries in 2016, Nigeria was among the markets it entered. The company began by acquiring local content from producers and soon transitioned into creating original productions, investing $23.6m by 2022. These original productions have achieved significant milestones. Titles like The Black Book and Jagun Jagun reached the global top ten for English and non-English films, respectively, within a week of their release. In 2024 alone, Netflix has revised its monthly subscription fees twice. The Premium plan now costs ₦7,000, up from ₦4,400 at the beginning of the year, while the cheapest option—the mobile plan—has increased from ₦1,200 to ₦2,200.
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Only 30.2% of the Nigerian population report having a birth certificate, and there are wide disparities on a zonal level. The North East has the country's lowest rate at 19.7%, compared with the 53.5% in the South West. Overall, Northern zones fall below the national rate, while the Southern regions outperform the national rate.
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Nigeria has generated ₦3.5 trillion in company income tax revenue this year. Foreign companies contributed ₦1.72 trillion (50% of the total), while local companies added ₦1.74 trillion. The Financial and Insurance sector topped the list of local contributors.
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The University of Ibadan remained Nigeria's only university for twelve years before the University of Nigeria, Nsukka, was established in 1960. Eleven universities followed between 1962 and 1975, increasing the number to 13 federal government-owned universities. The first state university was established in Rivers State in 1979, marking the beginning of the displacement of the federal government's ownership monopoly. Six state and nine federal universities were added in the 1980s, with four federal universities added in 1988, the year of the first Academic Staff Union of Universities (ASUU) strike. While state-owned universities have grown steadily, slightly outpacing those owned by the federal government, private universities have displaced both, increasing from three institutions in 1999 to 33 in 2007, 60 in 2015, and 149 in 2024. There are now more private universities than federal and state universities combined.
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Judges and magistrates received the highest average bribe amounts in 2023
In 2023, a staggering ₦721 billion was paid as bribes to public officials in Nigeria, highlighting systemic corruption. Judges and magistrates received the highest average bribe of ₦31,000, reflecting the critical nature of their roles in decision-making processes. Immigration officers followed with an average of ₦17,800, while members of the armed forces received ₦16,600.
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