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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
…As Diesel Price Rises By 37.76% Y-o-Y The National Bureau of Statistics (NBS), reported on Wednesday that the average retail price paid by consumers for Premium Motor Spirit (Petrol) in December 2023 was N671.86, indicating a 225.85% increase when compared to the N206.19 they paid per litre for the commodity in December 2022 The statistics […]
Nigeria’s consumer price index (CPI), which measures the general price level in the economy, rose to 28.92% in December from 28.20% recorded in the previous month and represented 0.72 percentage points month-on-month increase, the National Bureau of Statistics (NBS) reported on Monday. The rise in December inflation rate marked the eleventh consecutive month had been […]
The National Bureau of Statistics (NBS) has reported that the total number of road traffic crashes dropped to 2,187 in Q3 2023, from 3,412 in the corresponding quarter of last year, indicating a decrease of 35.90% year-on-year. The latest report by the Nigeria’s statistics coordinating agency titled ‘Road Transport Data Q3 2023’ published on its […]