Tag: NBS
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Inflation hits 21.09% due to FX scarcity, fuel hike
The current 21.09 percent of inflation recorded in October is traced to the increase in the price of fuel, scarcity of foreign exchange, and disruption in food supply chain. This is according to the National Bureau of Statistics latest report (NBS). In this light, 0.32 percent higher than 20.77 percent reported in September. This means…
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Food prices rose in July 2022 – NBS Report
The prices of selected foods items increased significantly in July, a report by the National Bureau of Statistics (NBS) unveiled. It made the declaration in its Selected Food Prices Watch Report for July 2022 released in Abuja on Monday. The NBS stated that the average price of 1kg of white beans rose by 23.22 per…
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CPI: Commodity Prices Heighten Inflation to 15.63 Percent in December
The National Bureau of Statistics (NBS) has disclosed that the Consumer Price Index which measures the level of inflation rose to 15.63 percent in December compared to 15.40 percent in November. For eight months, the headline index had maintained steady decline. That is, from April 2021 to November 2021, before returning to the upward trajectory…
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Aviation Sector Records Increase in Passenger Traffic in Q2
The aviation sector is gradually picking up after the waves of COVID-19 pandemic as there is a rise in air traffic passenger. The National Bureau of Statistics (NBS) has released its latest report on air passenger traffic using data made available by the Federal Aviation Authority of Nigeria (FAAN). The report, which estimated total traffic…
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Nigerian Railway Generates N2.1billion in Six Months
Railway business generates a total sum of N2.1 billion revenue in six months, National Bureau of Statistics (NBS) has confirmed on its latest rail transport data. Breaking down the statistics, the sum of N424.5 million was generated in the first quarter and a total of N565.4 million was realised in the second quarter, thereby amounting…
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Just In: Nigeria Records 7th Quarterly Trade Deficit
Nigeria has recorded a trade deficit of N1.8 trillion in the second quarter of 2021 (Q2’21) as imports bills rose by 23 percent to N12 trillion from N9.8 trillion. According to data released by the National Bureau of Statistics (NBS), the latest deficit represents an improvement of 52.6% compared to the Q1:2021 goods trade deficit…
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Nigeria Grew Economy By 5.01% in Quarter Two – NBC
Nigeria’s Gross Domestic Product (GDP) grew 5.01 percent in the second quarter, said the National Bureau of Statistics (NBS) on Thursday. The report from NBS, specifically on GDP released in the earlier hour of Thursday spread this development to the public. Despite the ravaging and negative effects of covid-19 in the second and third quarters…
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IT: Investments Decline By Over $50m In One Year
The efforts channeled into the nation’s technology services seem not to pay off as investment in information technology sector plummeted from $74.74m at the end of 2019 to $21.68m as of December 31, 2020. This revelation came to limelight through the analysis of the capital importation data from the National Bureau of Statistics. The released…
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Nigeria’s Foreign Trade Rises to N9.76tn in Q1, Records N3.94tn Deficit
Nigeria’s total merchandise trade increased to N9.76 trillion in the first quarter of the year, representing 6.99 per cent rise over the N9.12 trillion in the preceding quarter, the National Bureau of Statistics (NBS) stated on Monday. This also represented 14.13 per cent increase compared to N8.55 trillion recorded in Q1 2020. According to the…