MTN Group's share of voice revenue has steadily declined since 2014, falling from 71% to 36.6% in 2023. On the other hand, data services' share went from 18.6% to 37% in the same period.
In almost 61 years since Nigeria's First Republic, there have been 16 Presidents and Heads of State either by seizure, democratic election, or handing over by an interim government.
The unsuccessful attempt to restore Nigeria to democracy between 1992 and 1993 gave rise to the aborted Third Republic.
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.
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.
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.
As of December 2023, 28.6 million internally displaced people affected by conflict were under the age of 18, accounting for 38% of the global IDP population.
Conflict-ravaged Sudan has the most internally displaced children globally, with 4.25 million under the age of 18.
DR Congo and Syria follow with 3.57 million and 2.65 million displaced children, respectively. Nigeria's 1.65 million displaced children make it the 7th highest globally for child displacement due to conflict.
Since 2011, over ₦32.8 trillion has gone to Nigeria’s state governors from the Federation Account Allocation Committee (FAAC). States from the South East have received ₦3.3 trillion combined, the least nationwide.
This fund allocation is to ensure that all levels of government have the necessary funds to meet their financial obligations and to provide public services.
Data from Nigeria's National Bureau of Statistics shows that the Federal Allocation Account Committee (FAAC) disbursed at least ₦32.8 trillion net to the 36 states and the FCT since 2011.
Five of Nigeria's oil-producing states — Delta, Akwa Ibom, Rivers, Bayelsa, and Lagos — have received 33.7% of the country's net federal allocation since 2011, with Delta State receiving the most. Kano, Katsina, Borno, Kaduna, and Ondo complete the top ten.
Food prices have continued to increase as Nigeria's headline inflation hit 34.19% in June 2024, one of the highest globally.
Rising fuel costs are impacting transportation prices of goods and services, straining household budgets and contributing to inflation. The average cost of petrol in Nigeria has increased by 25% since July 2023. Diesel prices have seen an even sharper increase of 85%, rising from a national average of ₦794 in July 2023 to ₦1,462 in June 2024.
Nigeria's Federal Government and organised labour have recently agreed on a new minimum wage of ₦70,000, with a commitment to review the national minimum wage law every three years. In the 43 years since 1981, Nigeria's national minimum wage has only increased five times, averaging 8-9 years between each increase.
Regular reviews could help ensure that wage increases are gradual and predictable, thereby reducing economic shocks, maintaining pace with inflation, and purchasing power for workers.
Nigeria's per capita electricity production has fluctuated in the past two decades. In this time, production has remained within the range of 120 kWh to 194 kWh.
Here is a visual representation of the country's per capita electricity production since 2000.
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
