Tag: NBS

Inflation rate hits 15.75% in December– highest in 39 months

Nigeria’s headline inflation increased for the 16th consecutive month, according to the latest inflation statistics by the National Bureau of Statistics (NBS) on Friday. This is the highest in 35 months. The inflation rate stood at 15.75% in December 2020, a 0.86% higher than 14.89% in November. Inflation measures the[Read More…]

New NBS report show increase in food prices in November

The National Bureau of Statistics (NBS) has announced that the prices of food items increased in November 2020 while the income for many households remained unsteady. The NBS stated this in the Executive Summary of its “Selected Food Prices Watch–November 2020”. The report said average prices of one dozen of[Read More…]

Breaking: Inflation rate hits 14.23% – highest in 31 months

Nigeria’s headline inflation has risen for the 14th consecutive month, according to the latest inflation statistics by the National Bureau of Statistics (NBS) on Monday. The inflation rate stood at 14.23% in October, a 0.52% higher than 13.71% in September – Inflation measures the rate at which prices increase over[Read More…]

States, FCT generated N612.8 billion in six months according to new NBS report

The National Bureau of Statistics (NBS), on Tuesday, published Internally Generated Revenue at State level for Half Year 2020. The 36 states and FCT IGR figure hits N612.87bn in H1 2020 compared to N693.91bn recorded in 2019. This indicates a negative growth of -11.7 per cent year on year. Similarly,[Read More…]

Nigeria’s Inflation rate hits 13.22%

The consumer price index which measures inflation rose by 0.40 percentage points between July and August 2020 on a year-on-year basis, the highest increase recorded since October 2016. According to the August CPI/Inflation report released by the National Bureau of Statistics (NBS), the rate of inflation stood at 13.22 percent[Read More…]

ICT contributes 17.83% to Nigeria’s economy, says NBS

The National Bureau of Statistics (NBS), on Monday released Nigeria’s Gross Domestic Product (GDP), report for in the second quarter of 2020 (Q2 2020), showing 17.83 per cent contribution by the Information, Communication and Technology sector. A statement signed by Dr Femi Adeluyi, Technical Assistant, Information Technology, said the Minister[Read More…]

Nigeria’s GDP shrinks by 6.10% in Q2 2020 – NBS report

Nigeria’s Gross Domestic Product (GDP) in real terms declined by 6.10% (year-on-year) in Q2 2020, thereby ending the 3-year trend of low but positive real growth rates recorded since the 2016/17 recession. This is according to the National Bureau of Statistics (NBS) second quarter (Q2) GDP report, released today. According[Read More…]

Nigeria’s Inflation Rises To 11.85 Percent

Nigeria’s inflation increased by 11.85 percent in November 2019, gaining 0.24 percent points higher than the rate recorded in October 2019 (11.61) percent. This is according to the National Bureau of Statistic’s CPI and Inflation Report for November 2019. On a month-on-month basis, the Headline index increased by 1.02 percent[Read More…]

NBS wants govt at all levels to adopt socio-economic statistics to meet SGD targets

The National Bureau of Statistics (NBS), says adoption and usage of its varied socio-economic statistics by government at all levels will assist the country meet targets of the Sustainable Development Goals (SDGs). Dr Kabiru Nakaura, the Chairman, NBS Governing Board said this at the opening of a two-day meeting of[Read More…]

Nigeria’s GDP grows by 2.28 per cent

Nigeria’s Gross Domestic Product has grown by 2.28 per cent in the third quarter of 2019, the National Bureau of Statistics has said. In its quarterly report, NBS said that the figure was better than 2.12% (revised from 1.94%) in the second quarter of 2019 and the third quarter of 2018,[Read More…]