In Q2 2024, Nigeria’s Company Income Tax (CIT) collections reached ₦2.47 trillion, a record-high figure that could cover about 9% of the nation’s ₦28.78 trillion budget.
The surge may be due to improved corporate profitability, better tax compliance, and stricter enforcement. The higher exchange rate probably played a role too.
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.
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.
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.
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.
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.
