Tag: NBS

Nigerian Inflation Rate Hits 11.6%, Highest ever

The National Bureau of Statistics (NBS) in its latest report revealed that, inflation rose to 11.61% in October. In the consumer price index, which measures inflation report released Monday shows an increase of 0.36 percentage points compared to 11.24% recorded in September. The report released by the Statistician General, Dr[Read More…]

We Don’t Have The Data To Back Audu Ogbeh, Ngige’s Claims On Job Creation – Yemi Kale

Statistician General of the Federation and CEO of the National Bureau of Statistics Mr. Yemi Kale has dismissed the job creation numbers being touted by the President Muhammadu Buhari administration.  According to Kale, the NBS which is the agency with the legal mandate to generate national data has no data[Read More…]

Inflation Rate Drops To 15.37% in December – National Bureau of Statistics Say

The National Bureau of Statistics on Tuesday released the Consumer Price Index which measures inflation with the rate dropping from 15.9 per cent in November to 15.37 per cent in December. The drop of 0.53 percent points recorded in December makes it the eleventh consecutive slowdown in the inflation rate.[Read More…]

Fuel Queues In Abuja Despite NNPC’s Denial Of Fuel Price Increase

Long queues of vehicle have resurfaced at filling stations in Abuja following a widespread rumor of an impending increase in the pump price of fuel. At the Total filling station in the Central Business District of the Federal Capital Territory Abuja, the queue extended towards the National Bureau of Statistics[Read More…]

Nigeria’s Foreign Trade Up by 7.7 Percent for Q2 2017 – NBS

The National Bureau of Statistics, NBS, has released the figures for Nigeria’s foreign trade for the second quarter of 2017, ending in June. Total trade for the quarter went up by 7.7 percent at 5.69 trillion Naira Q on Q, up from 5.30 trillion Naira in Q1. Nigeria’s imports contributed[Read More…]

RECESSION: President Buhari Pleased With First Positive Growth

President Muhammadu Buhari is elated that Nigeria is finally out of recession albeit marginally. In a statement released Tuesday afternoon, Buhari noted that the ordinary Nigerian is yet to be directly impacted by the news. He said until coming out of recession translates into meaningful impact, the government will not[Read More…]

Nigeria Out of Worst Recession in History – Officials Say

The National Bureau of Statistics (NBS), who declared Nigeria’s worst recession in 29 years, said on Tuesday, that the west African country grew by 0.55 percent in GDP terms for Q2 2017. According to the Nigerian Gross Domestic Product report released by NBS on Monday, the economy recorded a positive[Read More…]

Nigeria’s Economy Shrank By 0.52 Percent In the First Quarter

LAGOS May 23 (Reuters) – Nigeria’s economy shrank by 0.52 percent year on year in the first quarter, having contracted 0.67 percent in the same quarter of 2016, the statistics office said on Tuesday. Africa’s largest economy shrank by 1.5 percent in 2016 for its first annual contraction in 25[Read More…]

Inflation Rate Drops for Third Consecutive Month

The National Bureau of Statistics on Tuesday said the Consumer Price Index which measures inflation dropped from 17.26 per cent in March to 17.24 per cent in the month of April. The NBS in the report stated that the 0.02 per cent points in inflation rate make it the third[Read More…]

Under “Austere” Buhari’s Watch, Nigeria’s Debt Profile Has Risen By N5.4trn

Nigeria’s debt profile has risen by approximately N5.4 trillion since President Muhammadu Buhari took office in May, 2015, TheCable reports. According to the Debt Management Office (DMO), Nigeria’s debt profile stood at approximately N12.12 trillion as at June 2015, barely a month after the current government took office. But according[Read More…]