Over the years, local companies have contributed more than foreign companies to Nigeria’s total company income tax revenue. In 2023, local CIT payments accounted for 51% of the total, with foreign payments at 49%.
Local CIT payments saw the highest share in 2021 (65%), while foreign CIT's highest was in 2015 at 52%.
In Q1 2024, there was a 146% increase in Nigeria's foreign trade value from ₦12.9t in Q1 2023, with exports reaching ₦19.2t, and surpassing the whole of 2020's exports (₦12.5t).
The total trade value in the quarter reached nearly half of the total trade in 2023.
In 2022, the US hosted a diverse African immigrant community, totaling over 2.75 million. Nigerians make up the largest group at 448,405 (16.3%), followed by Ethiopians (10.6%), Egyptians (8.3%), and Ghanaians (7.8%).
From 2006 to 2022, the Nigerian-born immigrant population in the US saw significant growth, increasing from 197.5k to 448.4k. This figure reflects almost a 1% share of the total foreign-born population in the US, which reached 46.2m in 2022.
Notably, the most rapid increases occurred between 2014 and 2022, with the Nigerian immigrant population jumping from 264.4k to 448.4k.
A recent UNICEF report shows that 293m children worldwide did not have drinking water in their schools in 2023. Six African and four Asian countries make up the top ten, with Ethiopia and Nigeria occupying first and second positions, respectively, with 33.2m and 29m children.
The top five countries account for 42% of the total affected population.
As of December 2023, Indians accounted for one in three holders of Canadian work permits, representing 32% of the total (1.76 million). Ukraine followed with almost 10%. Nigeria came 8th, with 2% of the permit holders.
As of December 2023, more than 36,000 Nigerians — 2% of the global holders — had Canadian work permits. This number represented a 118% rise from December 2022.
Nigeria's share of the total peaked in December 2018 at 2.4%.
N.B. The number of global holders of the Canadian work permit increased by 60% in 2023.
In Q4 2023, Spectranet maintained its top position as Nigeria's biggest internet service provider with nearly 114k active subscribers, holding 43% of the market share. FiberOne followed with 10% of the market.
Starlink increased its subscriber base by 113% to claim the 3rd position with 9% of the market.
Here are Nigeria's top internet service providers by active subscribers in Q4 2023.
In 2023, businesses in Nigeria's finance and insurance sector paid ₦458.8 billion as taxes to the government, 119.6% more than in 2022.
Those in the manufacturing sector also increased their payments and remain the top tax-paying sector in the country.
Here are the top five sectors where businesses paid the most tax in 2023.
