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Consumers Buy Kerosene Cheaper In January, As Diesel Price Surges

The National Bureau of Statistics (NBS) reported on Wednesday that average retail price per litre of Household Kerosene (HHK) paid by consumers in January  was N1,329.53, representing a decline of 2.40% compared to N1,362.27 paid by them in December 2023. The Bureau, in its ‘National Household Kerosene Price Watch (January 2024)’ hoisted on its website, […]

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Nigeria’s Capital Importation Up 66.27% In Q4 2023

….Lagos Attracts 65.35% Of Capital Inflows The National Bureau of Statistics (NBS) at the weekend reported that Nigeria’s total capital importation value in the fourth quarter of last year marginally increased to $1.088 billion, slightly higher than the  $1.060 billion recorded in Q4 2022 and represented a 2.62% year-on-year increase. But then, the statistics agency […]

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Nigeria’s Unemployment Rate Rises To 5.0% In Q3 2023

Nigeria’s unemployment rate significantly surged to 5.0% in the third quarter of 2023, representing an increase of 0.8% points increase over the unemployment rate of the preceding quarter. The figures were given by the National Bureau of Statistics (NBS) in its ‘Labour Force Survey Q3 2023’ report published on Monday on its website. An analysis […]

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Nigeria’s Inflation Sustains Surge, Hits 29.90% In January

Nigeria’s inflation rate in January 2024 further increased, rising to 29.90% from 28.92% recorded in the previous month, amid macroeconomic whirlwinds in the nation’s socioeconomic space. The latest National Bureau of Statistics (NBS) ‘CPI and Inflation Report January 2024’ report posted on its website on Thursday indicated that the increase in the general price level […]

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Airlines’ Operating Costs In Nigeria Among Highest In Africa – IATA

The regional Vice-President for Africa and the Middle East at the International Air Transport Association (IATA), Kamil Al Awadhi, has estimated that the cost of operating airlines in Nigerian airports remain among the most expensive in Africa. Awadhi, who made this remark during an interview on CNBC Africa, disclosed that contrary to reports in the […]

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About 81% Of Nigeria’s Workforce Not In Productive Sector – Oyedele

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele, has disclosed that about 81% of employed Nigerians are not in any productive sector of the economy. Oyedele, who gave this figure on Thursday at an Africa Trade and Investment Summit, said that while the unemployment rate in Nigeria remained […]

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Nigeria’s Electricity Consumers Hit 11.71Mn In Q3 2023

Total customers of electricity in Nigeria rose to 11.71 million in Q3 2023 from 11.47 million in Q2 2023, showing an increase of 2.08% quarter-on-quarter, the National Bureau of Statistics (NBS) has reported. The statistics agency gave these figures in its ‘Nigeria Electricity Report (Q3 2023)’ published on Wednesday, January 31, on its website. The […]

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NBS Launches Nigeria’s Cost Of Healthy Diet Indicator For Q4 2023

The National Bureau of Statistics (NBS) has launched a new ‘Cost of a Healthy Diet’ (CoHD)  indicator for the fourth quarter of 2023 in furtherance of its statutory mandate of providing evidence-based and timely statistical data for Nigeria’s sustainable development. The CoHD indicator was produced by the statistics agency in collaboration with one of the […]

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IMF Downgrades Nigeria’s Economic Growth Forecast To 3%

The International Monetary Fund (IMF) has downgraded Nigeria’s economic growth projections for 2024 to 3.0%  percent from the 3.1 percent it forecasted in October last year, which is far less than the 3.76 percent projected by the Federal Government this year. The Bretton Woods institution gave these figures in its ‘World Economic Outlook Update, January […]

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Nigerians Pay Higher For Food Items In December 2023

The latest publication by the National Bureau of Statistics (NBS) titled ‘Food Prices Selected Food Prices Watch (December 2023’ reflected that consumers paid more for major food items in December 2023. The report, which was published on Wednesday by the national statistical system coordinating agency, showed that the average price of 1kg Rice local sold […]