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  • In the third quarter of 2023, Nigeria collected a record ₦948 billion in Value Added Tax, the biggest in any quarter recorded from 2013. This data, spanning from Q1 2013 to Q3 2023, shows a consistent upward trajectory in VAT collections over the years.

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    According to recent data, there were approximately 96,487 tonnes of gold jewellery in the world in Dec. 2023, accounting for 45% of the total estimated amount of gold (212,582 tonnes) mined throughout history. Here is an estimated distribution of gold holdings as of Dec. 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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    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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  • 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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    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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  • Over the past nine years, the UK has been a major player in Nigeria's economy, contributing a substantial 43% ($47.5b) of the total capital imports. The UK's biggest capital investments in Nigeria occurred in 2014 and 2019. Since peaking in 2019, they have fallen 75% as of 2022.
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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

Known for its Elephant Cement brand, Lafarge Africa is on its way to reaching its highest annual revenue in the past decade, with its 2024 9-month revenue outperforming full-year revenues for 2023.

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Lafarge Africa's journey over six decades is a tale of growth, transformation, and significant milestones. From its roots as WAPCO in 1959 to its current position, the company’s evolution continues, with an acquisition by Huaxin Cement in 2024, pending regulatory approval.

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Public officials in Nigeria directly requested 54% of all bribes in 2023

In 2023, 54% of bribes in Nigeria were directly solicited by public officials, while 23% involved subtle hints or indirect demands. Bribes were commonly exchanged in specific locations, with 36% occurring in the homes of public officials and 35% on the streets. These patterns highlight widespread and deeply entrenched corruption across different spheres of interaction.

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Top 31 countries based on the 2024 English Proficiency Index

Nigeria occupies the 30th spot globally in the English Proficiency Index, achieving a score of 557, just behind Kenya (581) and South Africa (594). As one of Africa's linguistic leaders, this ranking highlights Nigeria’s strength in English proficiency, a vital skill driving communication, business, and education across the continent.

This data comes from the EF English Proficiency Index, which aggregated the test results of 2.2m adults from 113 countries and regions. Countries where English is the primary native spoken language are not included in this ranking. Ranks are determined by each country’s average score in the EF Standard English Test (EF SET).

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GDP per capita Nigeria and Africa (2010-2029)
 

Over the years, many African countries, including Nigeria, have experienced economic turbulence caused by fluctuating global markets and domestic challenges. However, amidst these challenges, there’s hope as IMF economic forecasts point toward growth.

According to the IMF, GDP per capita in Nigeria and Africa is projected to increase from 2025 after years of stagnation and decline. Nigeria’s GDP per capita fell sharply from $2,197 in 2022 to $877 in 2024. Encouragingly, growth is expected with projections of $1,047 for Nigeria by 2029, signaling a slow but steady improvement in living standards.

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Fatalities caused by the 50 worst terrorist attacks in 2022

In 2022, the top 50 terrorist attacks claimed 2,088 lives across 11 countries, with African nations significantly affected. Seven of these nations are African, and together they account for over half of the fatalities. Mali alone recorded 421 deaths, Burkina Faso recorded 317 deaths, while Nigeria and Somalia saw 212 and 200 lives lost, respectively.

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71% of households in Nigeria’s North East lack access to electricity

Nearly half (46%) of Nigerian households struggle with electricity access, with the Northern region facing the most significant challenges. The three Northern geopolitical zones have access rates below the national average, whereas South East Nigeria has the highest access, with only 25.4% of households lacking electricity.

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8.4 bribes were paid per bribe-payer in Nigeria's North West

The average number of bribes paid per person in Nigeria marginally reduced from 5.4 to 5.1. However, this decrease had no impact in the North East, where bribe-payers nearly doubled the amount paid in 2019, increasing from 4.5 to 8.4. In contrast, other regions recorded slight declines in bribes paid.

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Modern slavery by regions (2022)

On this International Day for the Abolition of Slavery, it’s important to face the harsh realities of modern slavery worldwide. As of 2022, 22 million people globally were forced into marriages, and 27.6 million were subjected to forced labour. Africa alone accounted for 3.8 million in forced labour and 3.2 million in forced marriages, making up a significant number of this global issue.

Africa’s numbers were lower than Asia & the Pacific’s, with a total of 29.3m modern slaves. In Africa, people face daily struggles in exploitative labour conditions, from children forced to work on farms to women coerced into early or abusive marriages. These realities explain the broader statistics and call for efforts to address modern slavery in all its forms.

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First Class Honours at the Nigerian Law School have been a rarity, but 2023 saw a notable rise. At 251, it is the highest number of First Class candidates in a decade, 2x the number in 2022.

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While several African nations have state-controlled telcos, some private operators have extended their presence across the continent. Notably, none operates in all countries on the continent.

MTN Group and Orange are present in 17 countries, with MTN having a stronger presence in Southern Africa than Orange. Francophone West Africa and North Africa are Orange's primary markets.

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Fail rates at the Nigerian Law School have declined from 33% in 2014 to 11% in 2023. Over the same period, second-class lower has overtaken the pass grade as the most common outcome.

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Number of Nigerians who use each (selected) social media platform (Jan. 2025)
  • Facebook has the highest number of users in Nigeria at 38.7 million, reaching 16.4% of the population.
  • TikTok follows closely with 37.4 million users, accounting for 15.8% of Nigerians.
  • YouTube attracts 27 million users, showing its continued relevance for content consumption.
  • Snapchat boasts 19.6 million users, with 8.3% penetration across the country.
  • LinkedIn is used by 11 million Nigerians, reflecting rising interest in professional networking.
  • Instagram has 9.9 million users, slightly below LinkedIn in total reach.
  • X (formerly Twitter) has 7.57 million users, capturing 3.2% of the population.
  • Messenger is the least used among the listed platforms, with 5.65 million users in Nigeria.
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  • University students filed 497,000 loan applications, accounting for a staggering 90.1% of all institutional submissions.
  • College of education students submitted just 34,000 applications, making up only 6.2% of the total pool.
  • Polytechnics trailed with 21,000 applications, contributing 3.7% to the national tally.
  • Out of every 10 students applying for a loan, 9 are university students, underscoring their dominance in demand.
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  • The United States holds the largest IMF quota by far, with 82,994.2 billion SDRs, accounting for 17.42%, more than double the quota of any other country.
  • Japan, China, and Germany follow as the next largest contributors, each holding between 5.5% and 6.5% of total quota shares.
  • European countries (Germany, France, the U.K., Italy) collectively maintain a strong presence, together accounting for nearly 17.21%, almost equal to the U.S. alone.
  • Emerging economies like India and Russia have relatively modest shares (2.75% and 2.71%, respectively) despite their growing roles in global economic affairs, indicating an imbalance between global influence and IMF voting power.
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  • The number of female central bank governors rose from 21 in 2014 to 29 in 2024, a 38% increase over the decade.
  • The lowest point was in 2018, with just 14 female governors, marking a 33% drop from the 2014 figure.
  • A rebound began after 2018, with consistent annual growth from 2020 onwards, peaking in 2024.
  • The number remained under 20 for six consecutive years (2015–2021) before breaking past that mark again in 2022.
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  • University of Maiduguri leads with 31,770 applications, indicating a significant demand for student loans in the North East.
  • North West institutions dominate the list, with five universities (Bayero University Kano, Federal University Dutsinma Katsina, Ahmadu Bello University, Usman Danfodiyo University, Sokoto, and Umaru Musa Yar'adua University) collectively accounting for a substantial portion of applications.
  • North Central is represented by University of Jos and University of Ilorin, highlighting the region's active participation in the student loan programme.
  • Federal University, Kashere's presence underscores the North East's engagement, with two institutions in the top 10.
  • All listed universities received over 11,000 applications, reflecting widespread awareness and utilization of the student loan initiative across these regions.
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  • Male applicants dominate the Nigerian student loan landscape with 374,946 accounts, representing 68% of total applications.
  • Female applicants trail behind at 177,063, contributing just 32% to the total loan accounts.
  • For every 10 students who applied, approximately 7 are male and 3 are female.
  • The gender gap in student loan uptake is 197,883, with males nearly double the number of female applicants.
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