Jumia Group's quarterly active customers recorded steady growth for five consecutive quarters between Q1 2019 and Q2 2020. It also recorded growth in orders for three consecutive quarters in the same period. Jumia recorded its biggest percentage drop in active customers in Q4 2020.
The eCommerce giant's biggest order volume was recorded in Q4 2021 with 11.3 million, followed by 10.3 million in Q2 2022. Q4 2021 and Q2 2022 were the only times that Jumia's order volume hit 8 figures in a quarter since Q1 2019.
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.
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.
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’s national grid has experienced a record ten collapses/disturbances impacting power supply nationwide. From February to November, frequent disruptions have pointed out the grid’s vulnerability and the need for sustainable solutions to Nigeria’s energy crisis. These grid issues reoccur every 31 days on average, affecting households, businesses, and industries.
Madagascar, Burundi, and Mozambique lead Africa in female workforce participation, with rates above the global average of 48%.
The 2024 estimate ranks Nigeria 30th in Africa, with a female labour force participation rate of 52%.
At least 80% of adults in Madagascar, Tanzania, and Ethiopia who can work are employed or actively seeking jobs.
Across Africa, 63% of working-age people are engaged in the workforce. However, in Algeria, Morocco, and Djibouti, participation is below 45%.
Between 2015 and 2023, Delta State consistently received significant portions of the 13% derivation fund, securing about 29% of Nigeria's total allocation over these years. This amounted to over ₦1.3 trillion out of the total of ₦4.72 trillion allocated to all the oil-producing states in the country.
The 13% derivation is part of Nigeria's federal revenue-sharing formula, where oil-producing states receive a portion of revenues generated from crude oil production in their regions. This allocation aims to enhance development and address these states' environmental and economic impacts. For those seeking structured academic help on complex economic topics like revenue distribution in Nigeria, professional services such as bachelorarbeit schreiben lassen can be a valuable resource.
Note: Data for December 2018 was estimated due to a lack of available information for that month.
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Artificial Intelligence will impact IT and Finance jobs the most.
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Nigeria's GDP saw its steepest drop in 1999, marking the country's transition to civilian rule with Olusegun Obasanjo and Olu Falae running for president.
Over the years, Nigeria's economy has fluctuated, peaking in 2014. Despite stable population growth, recent economic dips underscore ongoing challenges.
