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  • Despite the drop in production over the past decade, Nigeria remains Africa's largest oil-producing country. According to data from Trading Economics, it ranked 15th among the world's oil-producing countries as of June 2021. Here are the largest oil-producing countries in Africa:

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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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  • 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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    Africa's sanitation crisis is alarming, with 17 of the top 20 countries having the highest open defecation rates.

    Eritrea (67%), Niger (65%), and Chad (63%) lead, putting millions at risk of disease.

    Even Nigeria, the most populous African country, has 18% of its population practising it.

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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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  • 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

Key takeaways:

  • Tunisia ranked the highest in Africa with a remarkable life expectancy of about 77 years, surpassing Africa's value of 64 years.
  • Five North African countries are among the top 8 countries with the highest life expectancy at birth in Africa.
  • There is a significant 22-year difference between the life expectancy in Tunisia (77 years) and Nigeria (55 years).
  • Sub-Saharan countries generally have lower life expectancy rates.
  • Nigeria is ranked among countries with the lowest life expectancy in Africa and the world.
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Key takeaways:

  • Sudan requires the largest amount of humanitarian assistance, exceeding $4.16 billion.
  • The Syrian Arab Republic is second on the list of recipients, requiring $4 billion in humanitarian aid.
  • A total of eleven top countries are set to receive over $1 billion each in support, with the leading six countries requiring more than $2.4 billion each.
  • The top ten countries account for over 75% of total global humanitarian needs, which exceeds $32 billion.
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  • December 2024 saw the biggest year-on-year increase in average movie ticket price since the 38.5% increase in 2021.
  • Cinema ticket prices in Nigeria have maintained an upward price trend since 2018, increasing by over 300%.
  • Since 2021, average ticket prices in December have maintained double-digit increases over 30% annually.
  • 2024's average ticket price was 17% below projections.
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Key takeaways:

  • The crisis in Ukraine, affecting about 12.7 million people, represents 5.13% of the global humanitarian needs.
  • The top eleven nations account for more than 70% of global humanitarian demands, with over 177 million individuals requiring aid.
  • Sudan has the highest number of individuals requiring assistance (30.4 million), which is 12.29% of the total global figure.
  • Both Nigeria and Chad report 7.8 million individuals in need, which is 3.15% of the total global humanitarian need.
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Key takeaways:

  • Economic activities are categorised into three sectors.
  • The services sector is the largest employer of labour.
  • The data indicates that Nigeria's economy is primarily service-based.
  • The industry sector comprises of mining and quarrying, manufacturing, construction, and public utilities.
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Top 10 nations in the world with the highest inflation rates
  • With 120% and 118% inflation rates, respectively, the two top nations are experiencing economic meltdowns, making essentials like food and housing almost unattainable.
  • With 57.5% inflation, Zimbabwe continues its battle against economic instability, making it the 4th highest in the world and the worst in Africa.
  • The fact that several countries exceed the global average of 7.27% by 4x to 16x highlights the severe economic strain facing multiple regions.
  • Countries with inflation above 30% risk prolonged economic instability as businesses struggle to survive and citizens face rising poverty levels.
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Share of FGN domestic debt service payment (2017 - 2024)
  • FGN Bonds dominate Nigeria’s domestic debt service payments, rising from 66.6% in 2017 to 87.9% in 2024. This reflects a growing reliance on long-term debt financing.
  • Treasury Bills have seen a sharp decline in their share of domestic debt service, dropping from 30.1% in 2017 to just 6.4% in 2024. This suggests a shift away from short-term debt instruments.
  • Treasury Bonds, which peaked at 14.9% in 2022, also declined to just 5.6% in 2024.
  • By 2021, over 80% of domestic debt service payments were already allocated to FGN Bonds, showing a consistent pattern of prioritisation. The trend has only intensified in subsequent years.
  • The rising dominance of FGN Bonds means Nigeria is locking itself into long-term repayment obligations, potentially increasing the fiscal burden in the future.
  • This trend underscores the need for careful debt management policies to prevent a future where long-term commitments become a burden rather than a stabilising factor. 🚨
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  • Lagos led Nigeria’s box office with ₦5.8 billion in revenue, generating more revenue than all other regions combined.
  • The South-South emerged as the strongest market outside Lagos, contributing ₦2.1 billion, nearly 50% more than the South-West.
  • Abuja outperformed all three northern zones combined, earning ₦852 million, which is nearly four times their total revenue.
  • Cinema penetration in northern Nigeria remains weak, with the North-East contributing only ₦2.4 million—less than 0.05% of the national total, highlighting a significant gap in cinema infrastructure and audience engagement.
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Federal Government of Nigeria's capital expenditure (2010 - 2024)
  • Between 2010 and 2024 (a 15-year period), the federal government invested over ₦25.7 trillion in capital projects.
  • The post-2020 era saw a dramatic rise in capital expenditure, growing from ₦1.61 trillion in 2020 to ₦5.15 trillion in 2024, indicating accelerated investments in infrastructure.
  • The increase in expenditure after 2020 suggests the government prioritised economic recovery efforts, allocating more resources to capital projects post-pandemic.
  • Nigeria recorded its highest-ever capital expenditure in 2023 (₦4.49 trillion) and 2024 (₦5.15 trillion), showing a more aggressive investment approach in recent years.
  • 2014 recorded the lowest capital expenditure (₦0.59 trillion) in the 15-year span, possibly due to revenue shortfalls, oil price fluctuations, or policy shifts at the time.
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Federal Government of Nigeria expenditure on pension and gratuities (2013 - 2024)
  • Since 2013, the Nigerian government has disbursed ₦3.4 trillion in pension and gratuity payments.
  • Pension expenditure jumped from ₦107.4 billion in 2013 to ₦438.6 billion in 2023, a nearly four times increase, showing the rising cost of maintaining pension obligations.
  • While pension spending grew gradually between 2013 and 2018, a significant spike began in 2019 (₦307.4 billion), showing a shift in pension allocations.
  • The highest pension expenditure recorded so far was in 2023, surpassing all previous years.
  • The Need for a Sustainable Pension System – With pension spending climbing yearly, ensuring a sustainable funding model will be crucial for future government budgets.
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  •  The three largest cinema chains in Nigeria grossed over ₦7.6 billion naira combined in 2024 from Anglophone West Africa
  • EbonyLife Cinemas made the highest amount of any single cinema location
  • Filmhouse Cinemas has maintained the highest box office revenue for seven years
  • At ₦3.3 billion naira, Filmhouse's 2024 revenue is the highest ever recorded by a cinema chain in the region
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  • Nigeria alone holds 89% of all cinema locations and 92% of all screens in the region.
  • Ghana is the second-largest market but has only seven locations and 18 screens, significantly trailing behind Nigeria.
  • Sierra Leone has four cinema locations and eight screens, while Liberia has just one location with two screens, highlighting the limited cinema infrastructure in both countries.
  • The overwhelming concentration of cinema infrastructure in Nigeria reflects its established film industry and audience demand.
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  • Private universities in Nigeria outnumber federal and state institutions combined.
  • Nigeria has 159 private universities, more than double the number of federal universities.
  • Federal universities stand at 72, showing steady federal government investment in tertiary education.
  • State-owned universities number 66, slightly fewer than federal universities but forming a significant part of public education.
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  • The 1990s saw multiple years of flat or negative FDI, including -$0.02B in 1995 and -$0.04B in 1997.
  • FDI surged to $1.81B in 2007 and $2.94B in 2010, marking a turning point.
  • The all-time high was $3.31B in 2012, with 2024 following closely at $3.11B.
  • From 2015 to 2024, annual FDI remained steadily above $1B, signalling sustained investor confidence.
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  • Nigeria’s outstanding debt to the World Bank rose from $180 million in 1970 to $17.81 billion in 2024, a nearly 100-fold increase in 54 years.
  • The balance remained below $5 billion until 2013, but more than tripled between 2013 and 2024, signalling accelerated reliance on multilateral credit.
  • From 2020 to 2024, the outstanding debt rose by $6.4 billion, the sharpest five-year surge on record.
  • The figures reflect a steady accumulation of obligations, driven by long-term borrowing and slower repayment relative to disbursement.
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  • Peak FDI was in 2009 with $2.75 billion, the highest recorded in the 1990–2024 period.
  • The year 2015 saw a rare negative inflow of -$580 million, marking Algeria’s only net FDI loss in the last three decades.
  • FDI inflows rose significantly between 2005 and 2011, consistently staying above $1 billion each year.
  • After the 2015 drop, inflows recovered modestly, hovering between $1.1B and $1.6B from 2016 to 2020.
  • FDI weakened again post-2020, falling to just $250 million in 2022, before rebounding to $1.44 billion by 2024.
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  • Only four African countries, Seychelles, South Africa, Namibia, and Ghana, meet or exceed the WHO’s recommended minimum of 44.5 nursing and midwifery personnel per 10,000 people.
  • Seychelles leads the continent with 73 personnel per 10,000, followed by South Africa (64), Namibia (54), and Ghana (45).
  • The lowest number within the top 20 is 16, shared by Nigeria, Comoros, and Mauritania.
  • The dataset includes 47 African countries, and no country outside the top 20 has more than 16 nursing and midwifery personnel per 10,000 people.
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  • Egypt attracted $46.6B in FDI in 2024, the highest in 35 years and nearly quadruple 2023’s $9.8B inflow.
  • Average FDI between 1990–2023 was just $4.9B, meaning 2024’s figure is over 9× the long-term average.
  • Prior to 2024, FDI peaked at $11.6B in 2007, with only three other years, 2008, 2022, and 2023 crossing the $9B mark.
  • In 2011, Egypt recorded –$0.48B in FDI, meaning more foreign investment left the country than came in, largely due to the Arab Spring unrest.
  • The 2005–2010 period was previously Egypt’s strongest run, averaging over $8B annually before political instability triggered sharp declines.
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