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Business

Garri, beans prices drop as food inflation eases

The prices of key food staples, including garri and beans, declined significantly in April 2026, offering some relief to consumers as food inflation pressures continued to ease. Data from the National Bureau of Statistics showed that the average price of white garri sold loose fell by 39.86 per cent year-on-year, while brown beans recorded a […]

Oil and Gas

Petrol price hit ₦1,288.54/litre in March — NBS

The National Bureau of Statistics says the average retail price of a litre of petrol witnessed an increase from N1,051.47 in February to N1,288.54 in March. The NBS said this in its Premium Motor Spirit (Petrol) Price Watch for March, released in Abuja on Tuesday. It said that the March price of N1,288.54 represented a […]

featured

Nigeria’s inflation rises to 15.38% in March – NBS

Nigeria’s headline inflation rate rose to 15.38 per cent in March 2026, up from 15.06 per cent in February, according to the National Bureau of Statistics. This marks the first increase in 12 months, following a steady decline that began in April 2025. The NBS disclosed the figure in its Consumer Price Index report released […]

Finance

Nigeria VAT collections dropped to ₦2.19trn in Q4 2025 — NBS

Nigeria’s Value Added Tax collections stood at N2.19 trillion in the fourth quarter of 2025, representing a 3.78 per cent decline from the N2.28 trillion recorded in the third quarter. Despite the quarter-on-quarter dip, the figure reflects a 12.84 per cent year-on-year increase, demonstrating continued growth in taxable economic activities. The data, released by the […]

featured Oil and Gas

Nigeria spent ₦8.96tn on petrol imports in 2025 — NBS

Nigeria’s dependence on imported petrol continued throughout 2025, as oil marketers spent N8.96 trillion on Premium Motor Spirit imports from January to December, despite growing investments in local refining capacity. An analysis of the latest foreign trade data released by the National Bureau of Statistics on Thursday revealed that petrol, classified as “Motor spirit ordinary,” […]

Economy

Nigeria’s food import bill hits N7.65tn in 2025

Nigeria’s expenditure on imported food and beverage products rose sharply to N7.65 trillion in 2025, underscoring the nation’s growing dependence on foreign food amid rising domestic demand and persistent structural challenges in agriculture. According to the latest Foreign Trade Statistics report from the National Bureau of Statistics, these imports include both primary foodstuffs and processed […]

Business

Nigeria’s Q4 trade surplus slumps to N1.71tn amid falling oil exports

Nigeria’s merchandise trade surplus dropped sharply to N1.71 trillion in the fourth quarter of 2025, down from N3.42 trillion in the same period of 2024, as falling crude oil exports and rising imports narrowed the country’s positive trade balance. Data released by the National Bureau of Statistics on Monday indicated that, while Nigeria still recorded […]

Business

Corporate Income Tax rises to N2.96tn in Q3

Nigeria’s Company Income Tax collections climbed to N2.96 trillion in the third quarter of 2025, marking a 6.55 per cent rise from the N2.78 trillion posted in the second quarter. The figures were contained in the latest report released by the National Bureau of Statistics. The report points to continued expansion in corporate tax receipts, […]

Investment

Manufacturing sector’s foreign investment drops to nine-year low – NBS

Foreign investment in Nigeria’s production and manufacturing sector declined to its lowest level in nine years during the first nine months of 2025. This trend highlights a shift in capital dynamics, as domestic financing increasingly replaces the role previously held by foreign investors. Analysis of National Bureau of Statistics capital importation data reveals that the […]

featured

Nigeria’s inflation drops to 15.1% in January – NBS

Nigeria’s headline inflation rate fell to 15.1 percent in January, down slightly from 15.15 percent in December 2025. The National Bureau of Statistics made this disclosure in its latest update on the country’s consumer price index on Monday. “The January 2026 Headline inflation rate showed a decrease of 0.05 per cent compared to the December […]

Business

Transport fares rose across major travel modes in October – NBS

Transportation fares across major travel modes climbed in October 2025, according to the Transport Fare Watch report by the National Bureau of Statistics. The figures show that commuters paid higher prices for bus, air, motorcycle (okada) and water transport, highlighting ongoing pressure on household transport costs. Average city bus fares increased marginally to ₦1,058.64 in […]

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