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%.
The average price of cooking gas in Nigeria has increased significantly, from ₦370 per kg in early 2016 to ₦1,390 per kg in June 2024.
After prices peaked at nearly ₦1,500 in May 2024, they fell by 6.1% in June.
The contributing factors to the increase include global energy fluctuations, naira depreciation, supply chain disruptions, and changes in domestic policies.
Here are the average prices of cooking gas in Nigeria since 2016.
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 cost of cooking gas nationwide increased from an average of ₦10.3k in March 2023 to nearly ₦16k in March 2024.
However, the northern regions had the most affordable prices. The North East had the lowest average price of ₦14.9k for a 12.5kg cylinder.
In Katsina, the average price for 12.5kg of cooking gas was ₦12,400 as of March 2024, the lowest in the country.
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.
