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Tag Archives: NBS

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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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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Nigeria Launches Stimulus Schemes for MSMEs

The Federal Government on Thursday inaugurated two schemes to support Micro, Small and Medium Enterprises (MSMEs), to cushion the effects of COVID-19 and save over 100,000 small businesses. The two schemes, Survival Fund and the Guaranteed Off-take Stimulus Schemes, were under the Nigeria Economic Sustainability Plan (NESP) of President Muhammadu …

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