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Nigeria’s Inflation Hits 19.64% In July, Highest In 17 Years

Nigeria’s inflation rate in the month of July 2022 rose to a 17-year high of 19.64%, up from the 18.6% recorded in the preceding month. The latest inflation rate was published on Monday by the National Bureau of Statistics (NBS), the national statistics coordinating agency, in its Consumer Price Index (CPI) report for the month […]

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CBN Raises Monetary Policy Rate To 14%

The Central Bank of Nigeria’s (CBN’s) Monetary Policy Committee members on Tuesday voted to increase the monetary policy rate (MPR) or benchmark interest rate to 14% from 13% in its sustained efforts to tame the rising inflation rate in the county. The Governor of the CBN, Godwin Emefiele, gave this hint while addressing journalists at […]

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Nigeria’s Inflation Hits Five-Year High In June, Surges To 18.60%

…..as Kwara displaces Kogi as state with highest food index Nigeria’s consumer price index (CPI), which measures the rate of change in prices of goods and services in the economy, rose to a five-year record high, surging from 17.71 per cent in May to 18.60 percent in June 2022. The National Bureau of Statistics (NBS) […]

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Rising Inflation, Debt, Food Crisis Threat To Nigeria, Others’ Growth – IMF

The International Monetary Fund (IMF) has expressed serious concern about the surging inflation rates, debt stocks, and food crisis in Nigeria and other African, warning that if not properly managed could threaten the recoveries of the economies and push them into another recessionary abyss. The Managing Director of the Washington-based multilateral financial institution, Kristalina Georgieva […]

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NBS Seeks Stakeholders’ Collaboration On NASC Survey

The National Bureau of Statistics (NBS), on Tuesday urged Nigerians and other stakeholders to support its ongoing National Agricultural Sample Census (NASC) aimed at producing a credible statistical data on agricultural and other critical socio-economic activities in the country. According to the Bureau, the survey, which is organized in collaboration with the Federal Ministry of […]

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Consumers Paid 88.11% More For Kerosene, Cooking Gas In May – NBS

…as kerosene price rose by 86.9% YoY, cooking gas up 89.3% The National Bureau of Statistics (NBS), the coordinating agency for Nigeria’s national statistical system, has reported that on the aggregate, consumers pay 88.11 percent more for kerosene and cooking gas year-on-year in May this year The agency, in its just published report titled ‘National […]

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Railway Corporation Rakes In N5.7Bn From Passenger Fares In 2021

The National Bureau of Statistics (NBS) on Wednesday reported that Nigerian Railway Corporation (NRC) generated N5.70 billion revenue from passenger fares in 2021. The agency gave this figure in its ‘Rail Transportation Data for 2021’ report. According to the report, the generated revenue for the year under review is 226.44 percent increase or N3.95 billion […]

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VAT Revenue Grew 4.41%, Hit N588.59Bn In Q1 2022 – NBS

The National Bureau of Statistics (NBS) has reported that the aggregate Value Added Tax (VAT) collection stood at N588.59 billion in the first quarter of 2022, representing a quarter-on-quarter growth of 4.41 percent over the N563.72 billion raked in from the revenue source in Q4, 2021. The statistics agency in its report ‘Sectorial Distribution of […]