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  • In October 2021, the average price of 12.5kg cooking gas in Nigeria increased by 62.76% in October 2021 compared to October 2020. Between August 2021 and October 2021, the price increased by 47%.

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    Nigerians spent ₦56.6 million last weekend seeing two blockbuster movies — #Barbie and #Oppenheimer. Popularly called Barbenheimer, they were released simultaneously on July 21, 2023. Barbie made 129% more than Oppenheimer in their first weekend.

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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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  • How much more debt did Nigerian states add to their existing domestic debt in 2023?

    Nigerian states' domestic debt increased by 9.8% in 2023, with 20 states and the FCT contributing to this increase. Lagos State recorded the biggest jump in domestic debt with ₦241.5b added.

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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

Just like Nigeria, Tanzania has more mobile subscriptions than its population. As of December 2023, Nigeria had a teledensity of 103.66%. With a population of 67.4 million as of 2023, the East African country had 70.3m telecom subscriptions, up from 32 million in 2014.

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In January 2024, the communications authority in Zimbabwe warned against using Starlink Internet Services. The Southern African country has less than 100k subscribers on Fibre and Fixed LTE each. At the same time, a significant portion of its citizens rely on mobile Internet, with 10.97 million subscriptions as of 2023 in a country with 16.67 million people.

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Canada granted permanent residency to 471.8k individuals in 2023, with Indian citizens leading with nearly 30% of the total.

Nigeria (3.7%), Cameroon (2.5%), and Eritrea (2.3%) were in the top ten recipients.

 

 

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After growing from 1.5% in 2015 and peaking at 5.1% in 2022, Nigeria's share of Canadian permanent residency status issuances dropped to 3.7% in 2023.

This is Nigeria's share of Canadian permanent residency status issuances since 2015.

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Nigerian academic IELTS test takers scored an average of 6.7 out of 9 in 2022, placing the country joint 5th globally with Ghana, Hong Kong, and Indonesia. Spanish academic IELTS test takers topped the list with an overall score of 7.1.

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Over the years, the value of the Zimbabwean Dollar (ZWL) has been on a massive downward trend compared to the US Dollar (USD). This has led to the latter accounting for most of the domestic transactions in the Southern African country. The ZWL went from 10,152.5 to USD 1 as of January 1, 2024, to 30,674.3 on April 1, 2024. The Reserve Bank of Zimbabwe is introducing a gold-backed digital currency as a legal tender to stabilise its currency.
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In 2023, Nigerian students emerged as the third-highest recipients of Canadian study permits, behind India and China.

This marked a jump from their fifth position in 2022, when 16,105 study permits were issued to its citizens.

India maintained its position as the top source country, followed by China. The Philippines, Nepal, and France retained their places in the top ten.

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Compared to 2022, there was a remarkable surge of 133.7% in the issuance of Canadian study permits to Nigerians in 2023. After experiencing a decline in 2020 (-22%), the number of Nigerian study permit recipients rebounded strongly.

Globally, the issuance of Canadian study permits witnessed an increase of 24.6%, climbing from 548,610 in 2022 to 683,585 in 2023.

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Nigeria’s electricity distribution companies (DISCOs) generated ₦1.07 trillion revenue in 2023 — double 2020's amount and 3.8x that of 2015. From 2015 to 2023, revenue has grown from ₦279b to ₦1.07t, while customer base has increased by over 5m, from 7m to 12.1m.

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After peaking at ₦5.69b in 2021, Nigeria's railway revenue from passengers has fallen for two consecutive years, dropping to ₦4.43b in 2023. Cargo revenue, on the other hand, reached its highest (₦1.08b) in 2023.y revenue from passengers has fallen for two consecutive years, dropping to ₦4.43b in 2023. Cargo revenue, on the other hand, reached its highest (₦1.08b) in 2023.

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Newzoo, a provider of video game and gamer data, reported that in 2023, Nigerian mobile gamers spent approximately $229.7m — the highest expenditure in Africa — boasting a sizable 14.7m spenders.

Egypt's gamers spent an estimated $212.6m and occupied second place in Africa's mobile gaming expenditure ranking.

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Spotify paid out more than $9 billion in music royalties in 2023.

Artistes who received earnings ranged from 259,700 earning at least $1,000 to just 60 earning $10 million or more.

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Share of Africa’s debt by duration (2023 - 2028)
  • By 2028, 76.4% of Africa’s debt will be long-term, up from 75% in 2023.
  • The share of long-term debt will consistently rise each year.
  • Short-term and IMF debts will shrink to 23.6% by 2028, indicating reduced reliance on short-term borrowing.
  • The trend towards long-term debt reduces the immediate financial strain on governments but requires careful management to avoid excessive interest accumulation.
  • Countries must ensure that extended debt periods are matched with productive investments to justify future repayments.
  • A higher share of long-term debt could expose African economies to potential interest rate hikes in the future.
  • While long-term borrowing offers temporary relief, debt sustainability remains a key issue that policymakers must address.
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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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