Key takeaways:
Internet subscribers in Nigeria increased by 4.3% from 157.6m in March 2023 to 164.4m as of March 2024, an addition of 6.817m new subscribers. Lagos State has the largest share of active internet subscribers in Nigeria, but Nasarawa gained the most new subscribers in one year.
assarawa (604k) got the most new subscribers between Q1 2023 and Q1 2024, followed by Niger (456k) and Kano (387k). Benue (368k) and Kwara (315k) also saw impressive subscriber growth. Bauchi, Taraba, Katsina, Adamawa, and Kogi completed the top ten.
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.
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.
The Global Innovation Index 2024 reveals a striking contrast in innovation performance between countries globally and across Africa. Switzerland leads the global rankings with an impressive score of 67.5, followed by Sweden (64.5) and the USA (62.4), highlighting their sustained investments in research, development, and technological advancement.
In Africa, Mauritius takes the top spot with a score of 30.5, followed closely by Morocco (28.8) and South Africa (28.3). However, even Africa's most innovative nations achieve less than half the score of global leaders, indicating a significant innovation gap.
Nigeria ranks 15th in the African ranking and 113th globally, out of 133 countries, with a score of 17.1.
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.
Nigeria has ranked the 102nd happiest country of 143 countries surveyed globally as of 2024; it ranked 11th of 40 African countries.
Libya ranked 66th globally and 1st in Africa, followed by Mauritius and South Africa in 70th and 83rd positions, respectively.
The World Happiness Report ranks happiness based on GDP per capita, life expectancy, generosity, social support, freedom, and corruption.
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.
Bitcoin, the flagship cryptocurrency, has hit an all-time-high of $72,000 as of March 11, 2024, signifying a bull run in the crypto market.
As of 2021, there were 400 fully electric vehicles sold in Africa, which is expected to reach 2,200 by 2027. By 2027, Africa will only account for approximately 0.02% of fully electric vehicles sold worldwide.
Global sales of electric vehicles are projected to hit 13.33 million by 2027, up from 4.6 million in 2021, indicating a significant increase in the shift from petroleum product-powered vehicles to electronic ones.
FTX, one of the biggest crypto exchanges in the world, went bankrupt. Before its bankruptcy, the price of Bitcoin rose to $21,000 and fell back to $19,000 on November 7, 2022, when Binance CEO, Changpeng Zhao revealed that his company would be selling off FTX's native coin, FTT.
In 2017, the price of Bitcoin suffered a hit when it crashed following a huge crypto boom that saw the price go from $400 in 2016 to $19,118 in 2017. Bitcoin went down to $3,000 in 2018, losing 447% of the value it had accumulated in 2017. By 2019, the market saw a positive trend with the price of bitcoin reaching $36,833.
The price of Bitcoin went from $46k in March 2020 to $17k in November of the same year, a 63% drop in eight months.
