In 2012, the volume of Point of Sale (POS) transactions in Nigeria was nearly 2.6 million, valued at ₦48 billion. As of 2022, it had grown to nearly four billion transactions worth ₦41 trillion. The volume and value of POS transactions surged between 2020 and 2022.
Nigeria remained the top African country for students in the U.S., with 20,029 students enrolled in the 2023/2024 academic year, marking a 13.5% increase from the previous year.
Ghana saw the highest growth rate among African nations, with a 45% increase in students, totaling 9,394 in the U.S. during the 2023/2024 academic year.
These countries collectively contributed significantly, with 4,507 (Kenya), 3,078 (Ethiopia), and 2,814 (South Africa) students studying in the U.S. during 2023/2024.
Sub-Saharan Africa was the fastest-growing region for international student mobility to the U.S., experiencing a 13% overall increase in the 2023/2024 academic year.
In the 2020/2021 academic year, Nigeria had 12,900 students, Ghana had 4,200, and Kenya had 3,500 students enrolled in U.S. institutions.
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.
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.
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.
The Nigerian movie industry, mainly financed via public or private funding and international grants, produces the most films in Africa, yearly. Nigeria produced more than double the number of films that the Ghanaian and Kenyan movie industries produce annually.
As of March 2024, there were 219m subscribers in Nigeria's GSM market which is dominated by three players each with over 20% market share. More than 40 mobile virtual network operators (MVNOs) have been licensed to date, all of whom will rely on the infrastructure of the country's four mobile network operators to offer their services.
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.
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.
Eskom’s average electricity tariff increased by approximately 162% between 2013/14 and 2023/24.
Tariffs are categorized into two groups based on distribution: Local Authority Tariffs and Non-Local Authority Tariffs.
Landlight Tariff (Non-Local Authority category) is the highest rate and in 2023/24 it stood at 608.61 c/kWh.
Homelight 20A (Block 1) is the lowest tariff also in the non-local authority category, at 168.78 c/kWh in 2023/24.
Eskom applies Time-of-Use (ToU) pricing, where tariffs vary by Time of day (peak, standard, off-peak periods) and Demand season (high-demand season: June to August and Low-demand season: September to May)