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  • Nigerians can visit 19 visa-free countries and 26 visa-on-arrival countries, with varying durations of stay. Here is a breakdown of the number of visa-free and visa-on-arrival countries for Nigerians by region.

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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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  • 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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  • On average, the agricultural sector contributed 24.87% to Nigeria's GDP over the past decade. However, the sector's contribution has been declining since 2020, dropping from 26.21% to 25.18% in 2023.
    The sector’s contribution grew between 2014 and 2020, rising from 22.9% to 26.21%. The sector has been plagued with challenges over the past decade, with a couple of them becoming more intense in the past few years

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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
The cost of 1GB of mobile data in selected countries

The cost of accessing the Internet isn't the same everywhere. In Switzerland, 1GB of mobile data costs $7.29, the most expensive globally, while Nigeria stands at just $0.38, which is 15 times less than the cost in the United States ($6.00). Meanwhile, Israel offers the cheapest deal at only $0.02 per GB. There is a more moderate global average at $2.59.

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Real GDP Growth projection across regions (2023 - 2025)
 

The Nigerian economy shows promise as the IMF projects an increase in the country's GDP growth, rising to 3.2% in 2025. This comes when projections show stagnant global growth at 3.2%, while sub-Saharan Africa outpaces other regions with an anticipated rise to 4.2% by 2025.

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South Africa leads the continent's market, with 41 data centres. It has more data centres than Nigeria (15) and Kenya (16), its closest competitors.

Africa's data centre market is nascent, with less than 200 centres.

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Since the 2007/08 academic year, Nigeria has consistently held the top spot for the number of African international students in the US. Before this, Kenya and Egypt also led in certain periods.

This trend highlights the evolving landscape of African students pursuing education in the US over the decades.

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Top 15 African countries with the most students in US higher institutions (2023/24)

Nigeria remains the leading African country of origin for students in the US, with over 20,000 enrolled this year.

Ghana, however, recorded the continent's fastest growth rate at 45%. This increase of over 2,900 students brought Ghana’s total to nearly 9,400, making it the second-largest source of African students in the US.

Nigeria also saw a 13.5% rise, adding more than 2,380 students year-over-year.

Overall, the number of students from African countries in the US grew by nearly 12% in the 2023/24 academic year.

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From the early 1960s through the 1990s, Ethiopia's cattle population growth placed it at the forefront of African livestock rearers, holding the top position with millions of cattle.

This leadership continued into the 2000s, reflecting Ethiopia's robust cattle industry on the continent. Sudan managed to take the top position a few times, mostly around the 2000s.

However, Ethiopia quickly reclaimed the top spot. Nigeria's cattle population grew from about 6.03 million in 1961 to 20.9 million in 2022, claiming 6th position in Africa as of 2022.

Africa accounted for one-fourth of the global cattle population as of 2022.

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Until 1976, Ghana was the world’s largest cocoa producer, with an average annual output of 410,000 tonnes. However, Ghana lost this lead when production fell to 277,000 tonnes in 1997, allowing Côte d'Ivoire and Brazil to overtake.

Since 1977, Côte d'Ivoire has led global cocoa production, increasing its output by 634%.

Nigeria’s cocoa production peaked at 485,000 tonnes in 2006, consistently ranking among the top ten producers.

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21% of the ₦17.67 billion lost to fraud in 2023 was recorded in October totaling ₦3.76 billion

Fraud data submitted to the Nigeria Inter-Bank Settlement System by financial institutions in 2023 reveals that customers lost ₦17.67 billion across 95,630 cases, with the highest loss of ₦3.76 billion occurring in October 2023

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66% of fraud in 2023 was committed using social engineering

In 2023, 66% of fraud cases were committed using social engineering, the most common technique. Mobile channels accounted for 50% of fraud, followed by web channels (23%) and POS channels (18%).

Technique: How the fraud is committed.
Channel: Where the fraud is committed.

Techniques refer to the methods fraudsters use to deceive victims, and Channels refer to the platforms through which the fraud is carried it.

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The cost of bus fares for intracity journeys rose by 98% after the fuel subsidy removal, with a 39% increase in just 18 months

After the fuel subsidy was removed, the cost of bus fares for intracity journeys rose by 98% between May 2023 and June 2023. In just 18 months, fares increased by 39%  significantly affecting commuters.

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AI Preparedness Index by regions

Nigeria and other sub-Saharan African nations still lag in AI readiness, scoring 0.34 on the AI Preparedness Index. This shows the need for more investment, better infrastructure, and a willingness to embrace the AI revolution. For those who want to understand how global digital progress intersects with academic work, consider exploring services like dissertation ghostwriter – especially in regions where access to expert academic support may be limited.

The AI Preparedness Index measures the level of AI readiness across 173 countries and 13 regions. It evaluates factors such as digital infrastructure, workforce skills, innovation, economic policies, and ethical regulations.

Note: Scores range from 0 to 1, with 1 being the most prepared.

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Nigeria’s official exchange rate (Nigerian naira per US$), 2015 - 2024
  • The Nigerian naira depreciated by a record-breaking 129.23% in 2024, the highest drop in the last decade.
  • From 2015 to 2022, the naira's depreciation was relatively controlled, rarely exceeding 20% year-on-year.
  • The exchange rate remained nearly flat from 2017 to 2019, showing signs of stability.
  • In 2023, the naira lost over half its value (51.46%), marking the beginning of the current volatility wave.
  • The exchange rate crossed the ₦1,000/$ threshold in 2024 for the first time in history.
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Key Takeaways:
  • Electrical and electronic equipment was China’s top export to Nigeria, valued at $2.88 billion.
  • The top five export categories (electrical equipment, machinery, vehicles, plastics, and iron/steel products) together accounted for over $8.78 billion, representing around 44% of total exports.
  • Industrial goods such as machinery and steel, along with manufactured consumer goods, dominate China’s export portfolio.
  • Products like apparel, synthetic materials, and household items featured strongly among the top export categories.
  • In total, China exported goods worth $20.18 billion to Nigeria in 2023.
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Key Takeaways:
  • In 2023, China imported $1.41 billion worth of mineral fuels and oils from Nigeria, making it the leading import category.
  • The top three import categories (mineral fuels, ores, and salt/earth materials) together made up nearly 89% of the total import value.
  • Nigeria’s exports to China are largely raw materials and natural resources, with minimal contribution from manufactured goods.
  • The top ten product categories accounted for almost 99% of China’s total imports from Nigeria.
  • Agricultural and animal products such as oil seeds, raw hides, and spices also formed part of Nigeria’s export portfolio.
  • China’s total imports from Nigeria were valued at $2.37 billion in 2023.
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Key Takeaways:
  • In 2023, China’s exports to Nigeria totaled $20.18 billion, while imports from Nigeria reached only $2.37 billion.
  • China’s trade surplus with Nigeria amounted to approximately $17.8 billion.
  • Chinese exports accounted for 89.5% of the total bilateral trade, with Nigerian exports making up just 10.5%.
  • The trade imbalance underscores Nigeria’s strong dependence on Chinese goods and industrial inputs.
  • For every $1 Nigeria exports to China, it imports $8.50 worth of Chinese products.
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Somalia’s official exchange rate (Somali Shilling per US$), 2015 - 2024
  • Somalia’s currency has depreciated by 26.4% between 2015 and 2024.
  • The sharpest yearly depreciation was in 2019, at 4.64%.
  • From 2020 to 2021, the SOS saw its smallest year-on-year shift at 1.08%.
  • Despite fluctuations, every year from 2015 to 2024 recorded a net increase in SOS per US$.
  • 2017 recorded near-stable currency performance with just a 0.16% change from the previous year.
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Key Takeaways:
  • Africa's gold production grew steadily from 621.78 tonnes in 2010 to 1,003.98 tonnes in 2023.
  • The continent experienced an overall increase of 61.5% in gold output over the 14 years.
  • The continent saw consistent year-on-year growth, with only minor declines in 2020 and 2022.
  • 2023 marked the highest production level in more than a decade.
  • The average annual growth rate in gold mine production over the period was approximately 4%.
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