Sustained efforts by the Nigerian Electricity Regulatory Commission (NERC) and the electricity distribution companies to provide meters for electricity consumers in the country appear not to be yielding tangible results as metered customers only increased to 5.47 million in Q2 2023, representing a growth of 3.10% from 5.31 million recorded in the preceding quarter this […]
Nigeria’s merchandize trade value in the second quarter of this year totalled N12,741.96 billion, with exports accounting for N7,015.71 billion while imports accounted for the N5,726.25 billion balance. The National Bureau of Statistics (NBS) in its ‘Foreign Trade in Goods Statistics (Q2 2023)’ report posted on its website on Friday indicated that the nation’s total […]
…..consumers to pay more for fuel, other items Oil prices at the global markets rose to a nine-year high since 2014 on Tuesday as Saudi Arabia announced the sustenance of its voluntary production cuts of one million barrels per day until the end of 2023 even as Russia also expressed its export cuts of 300,000 […]
Nigeria’s Value Added Tax (VAT) collections in the second quarter of this year surged to N781.35 billion, representing a 10.11% growth when compared to the previous quarter’s N709.59 billion collection from the revenue source, the National Bureau of Statistics (NBS) has reported. The report highlighted the quarter-on-quarter, sectoral and year-on-year VAT collections. According to the […]
The Lagos Chamber of Commerce and Industry (LCCI), one of the leading organized private sector (OPS) groups in Nigeria, has charged the President Bola Tinubu-led administration to adopt prudent fiscal measures to spur the nation’s economic growth in view of the slowdown recorded in the second quarter of this year. The Chamber’s Director-General, Dr. Chinyere […]
The National Bureau of Statistics (NBS) on Friday disclosed that Nigeria’s Gross Domestic Product (GDP) grew by 2.51% year-on-year in real terms in the second quarter of 2023, representing 0.2% points higher than 2.31% recorded in Q1 2023 but 1.03% lower compared to 3.54% recorded in the corresponding period of 2022. The statistics agency’s ‘Gross […]
The National Bureau of Statistics (NBS) reported on Monday that the price of Premium Motor Spirit (PMS) also known as petrol surged by 215.95% between July 2022 and July this year. The statistics agency, in its latest ‘Premium Motor Spirit Price Watch’ report for July this year indicated that while Nigerians paid N190.01 per litre […]
Nigeria’s Consumer Price Index (CPI), which is used to measure the level of inflation in rhe nation’s economy, surged to 24.08% in the month of July this year, representing a 129 basis-point increase compared to 22.79% recorded in the previous month. According to the latest in the Consumer Price Index (CPI) report published on Tuesday […]
…..as intercity transport fares surge by 55.25% Food consumers in Nigeria paid an average of 30% increase for food items in June this year when compared to what they paid for the commodities in the corresponding period of last year, the National Bureau of Statistics (NBS) has reported. The statistics agency, which gave this […]
……as 255,726 Nigerians in Diaspora get NIN The National Bureau of Statistics (NBS) has reported that the registrations and NIN issued by the National Identity Management Commission (NIMC) in 2022 totalled 22,492,748 in 2022, comprising 12,643,563 males and 9,849,185 females. The statistics agency gave these figures in its ‘National Identity Registration Statistics 2022’ published on […]