Michael Uche The Consumer Price Index rose to 15.7 per cent in February from 15.6 per cent in January, latest figures from the National Bureau of Statistics have revealed. The NBS disclosed this in its ‘Consumer Price Index February 2022’ report on Tuesday. According to the NBS, the highest increases …
Read More »Nigeria exits recession as GDP grew by 0.11% in fourth 2020
The National Bureau of Statistics, NBS, said Nigeria’s gross domestic product (GDP) grew by 0.11 percent (year-on-year) in real terms in the fourth quarter of 2020, representing the first positive quarterly growth in the last three quarters. “Though weak, the positive growth reflects the gradual return of economic activities following …
Read More »Nigeria’s Inflation Hits 15.75%, Highest in 3 Years
The National Bureau of Statistics (NBS) at the weekend said the nation’s inflation rate had risen from 14.89 per cent in November, 2020 to 15.75 per cent in December. The new rate contained in the data titled “Consumer Price Index December 2020” and posted on NBS’ website represents the highest …
Read More »Food Prices in Nigeria High in November, Says NBS
The prices of most food items increased in November this year, while the incomes for many households are still in precarious situations, the National Bureau of Statistics has said. In its Selected Food Prices Watch for November 2020, the NBS stated that selected food price watch data in the review …
Read More »Nigeria’s Trade Deficit Hits N2.38trn Trade in Q3 2020– NBS
Nigeria’s trade deficit rose by 32.45 per cent from N1.8tn as of the end of second quarter to N2.38tn in the third quarter. The National Bureau of Statistics disclosed this in its Q3 Foreign Trade Statistics report, which was released on Monday. It also said the total trade in the …
Read More »Again, Nigeria Slips into Recession as GDP Contracts to 3.62% in Q3
Following a contraction of 3.62 percent in its Gross Domestic Products (GDP) in the third quarter of 2020, Nigeria has slipped into recession once again. The National Bureau of Statistics (NBS), which made the disclosure on Saturday, said this is the second consecutive quarterly GDP decline since the recession of …
Read More »Nigeria’s Inflation Rises to 14.23% in – NBS
The National Bureau of Statistics, NBS, Consumer Price Index, CPI, says inflation has risen by 0.52 per cent to 14.23 per cent in October. The NBS report, which was released in Abuja on Monday, said that the CPI, which measures inflation, was higher than 13.71 per cent recorded in September. The …
Read More »Nigerian Govt Nets N424.71bn VAT in Q3 2020
The Nigeria’s federal government generated N424.71 billion as Value Added Tax (VAT) in the third quarter (Q3) of 2020, the National Bureau of Statistics (NBS) announced on Monday. According to the NBS, in its “Sectoral Distribution of Value Added Tax Data for Q3 2020”, the new VAT represents an increase …
Read More »NBC Sanctions AIT, Channels, Arise Over Unverified Images
The Nigeria’s National Broadcasting Station (NBC) has sanctioned Arise TV, African Independent Television (AIT) and Channels Television between N2million and N3million for airing unverified images of the alleged shootings at Lekki Toll gate in Lagos. The protest, which began on a peaceful note has since gone violence, with many states …
Read More »Nigeria’s Inflation Rate Increases to 13.71% in September
The National Bureau of Statistics (NBS) disclosed that the consumer price index, CPI, which measures inflation has increased by 13.71 percent (year-on-year) in September 2020. The NBS made the disclosure on its “CPI and Inflation Report September 2020,” on Thursday. According to the report, increases were recorded in all Classification …
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