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Tag: NBS

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ICT sector records 31.63% nominal growth in Q1 2025 — NBS

The Information and Communications Technology sector posted a 31.63 per cent year-on-year growth in nominal terms in the first quarter of 2025, according to the latest GDP figures from the National Bureau of Statistics. This represents a sharp rise of 28.23 percentage points from the 3.40 per cent recorded in Q1 2024, and a 13.67-point […]

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Nigeria’s economy grows 3.13% in Q1 2025, says NBS

Nigeria’s economy expanded by 3.13 per cent year-on-year in real terms in the first quarter of 2025, according to the latest data from the National Bureau of Statistics. This marks a notable improvement from the 2.27 per cent growth recorded in the same period of 2024, driven largely by strong performances in the services and […]

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Nigeria’s inflation falls to 22.97% in May – NBS

Nigeria’s headline inflation rate fell to 22.97 per cent in May 2025, marking the second straight month of decline. This was disclosed in the latest data released by the National Bureau of Statistics. The drop from 23.71 per cent in April points to a sustained slowdown in price increases, offering early signs of relief for […]

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Petrol price soars 76.73% year-on-year in April 2025 – NBS

The average retail price of Premium Motor Spirit, commonly known as petrol, soared to N1,239.33 per litre in April 2025, a 76.73% increase from N701.24 in April 2024, according to the National Bureau of Statistics. The data, released Wednesday in the NBS’s “Premium Motor Spirit (Petrol) Price Watch,” highlights ongoing volatility in Nigeria’s fuel market […]

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Nigeria’s inflation drops to 23.71% in April

Nigeria’s inflation rate eased to 23.71% in April 2025, down from 24.23% in March, according to latest data from the National Bureau of Statistics. This 0.52 percentage point drop marks a modest but positive shift, signaling a potential turning point as the country battles persistent economic hardship and high living costs. While still elevated, the […]

How FG can boost Nigeria's digital growth - Analyst
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Nigeria’s ICT sector contributes 17% GDP in Q4 2024 – NBS

Nigeria’s Information and Communication Technology sector contributed 17.00% to the country’s real Gross Domestic Product in Q4 2024, according to the National Bureau of Statistics. This marks an increase from 16.66% in Q4 2023 and 16.35% in the previous quarter of 2024. The NBS report shows that Nigeria’s ICT sector contributed 17.68% to real GDP […]

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JUST IN: Nigeria’s GDP rises by 3.84% in Q4 2024 

The National Bureau of Statistics reports that Nigeria’s GDP grew by 3.84% year-on-year in Q4 2024, up from 3.46% in Q3. In its GDP report published on Tuesday, NBS said the growth rate is higher than the 3.46 per cent recorded in Q3 2024. The NBS noted that the 3.84% growth rate in Q4 2024 also […]

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Nigeria’s inflation falls to 24.48% in January 2025

Nigeria’s headline inflation rate decreased to 24.48% year-on-year in January 2025, following the rebasing of the Consumer Price Index by the National Bureau of Statistics. Channels Television reported that the Statistician-General of the Federation, Adeyemi Adeniran, announced the rebased inflation figures during a press briefing in Abuja on Tuesday. According to the latest NBS report, […]

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Rebasing GDP, CPI aligns with UN fundamental principles – NBS

The Statistician-General of the Federation and Chief Executive of the National Bureau of Statistics, Semiu Adeyemi, emphasized Nigeria’s commitment to producing reliable and accurate economic data. He stated that the ongoing rebasing of the Gross Domestic Product and Consumer Price Index by the NBS is in line with the United Nations Fundamental Principles of Official […]

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Inflation hits 34.80% in ‘detty’ December – NBS

Nigeria’s headline inflation rate rose to 34.80% in December 2024, up from 34.60% in November, according to a report by the National Bureau of Statistics on Wednesday. This 0.20% increase is attributed to the higher demand for goods and services during the festive season. Compared to December 2023, Nigeria’s inflation rate increased by 5.87 percentage […]

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NBS allocates ₦35m for cybersecurity after website hack

The National Bureau of Statistics has allocated ₦35 million in its 2025 budget proposal for “Capacity Building on Cybersecurity and Data Centre Management.” This move follows the December 18, 2024, cyberattack that compromised the agency’s website, highlighting vulnerabilities in its systems. The funding is expected to enhance staff training, improve cybersecurity measures, and safeguard critical […]

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Nigeria’s exports to ECOWAS hit N1.5trn – NBS

Nigeria’s exports to ECOWAS countries reached N1.54 trillion in the third quarter of 2024, while imports amounted to only N82 billion, as reported by the National Bureau of Statistics. The report indicated that Ivory Coast was Nigeria’s top trading partner in the ECOWAS region, importing goods valued at N662.71 billion. Togo ranked second with N574.93 […]

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