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Tag: NBS

FG signs €995m deal to boost Nigerian agriculture sector
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Agriculture accounts for 30.1% of total workforce – NBS  

Nigeria’s agriculture sector continues to be the largest employer, engaging over 25 million people—about 30.1% of the total workforce—in agriculture, forestry, and fishing in 2023. This highlights the sector’s critical role in the economy and its significance in providing livelihoods for a substantial portion of the population. According to the National Bureau of Statistics, despite […]

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84% of Nigeria’s workforce is self-employed – NBS

The National Bureau of Statistics has reported that 84% of Nigeria’s working-class population was self-employed in the first quarter of 2024, marking a decline from 87.3% in the third quarter of 2023. This is according to the Nigeria Labour Force Survey Q1 2024 report by the NBS. The report indicate a notable shift within the […]

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Flight tickets hit N123, 700 in August – NBS

The average fare paid by air passengers for specified routes on a single journey experienced a significant increase, reaching N123,700.14. This figure represents a 25.51% increase compared to the N98,560.28 average fare recorded in July 2024, indicating a substantial rise in travel costs within just one month. In a report released by the Nigeria Bureau […]

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Diesel price rises 64.58% in August- NBS

The average retail price of Automotive Gas Oil in Nigeria increased significantly by 64.58% year-on-year, reaching N1,406.05 per litre in August 2024. This is according to the National Bureau of Statistics Automotive Gas Oil Price Watch Report for September 2024 released on Monday. This marks a substantial rise from N854.32 per litre recorded in the […]

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Inflation rate slows for second month, hits 32.15% in August

Nigeria’s headline inflation rate decreased to 32.15% in August 2024, down from 33.40% in July, according to the Consumer Price Index report by the National Bureau of Statistics. This marks the second consecutive month of easing inflation. Despite this monthly decline, the August 2024 rate remains 6.35 percentage points higher than the 25.80% recorded in […]

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Nigeria posts trade surplus of N6.95tn in Q2 2024

Nigeria achieved a trade surplus of N6.95 trillion in the second quarter of 2024, reflecting robust export performance despite a slight decline in overall merchandise trade. This surplus represents a 6.60% increase from the N6.52 trillion surplus recorded in the previous quarter. According to the National Bureau of Statistics report released on Wednesday, Nigeria’s total […]

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Agriculture drove 474.50% CIT growth in Q2 2024 – NBS

Agricultural sector led Q2 2024 Company Income Tax  growth in Nigeria, with a 474.50% quarter-on-quarter increase, according to the latest NBS report. The CIT rose to N2.47 trillion, up 150.83% from N984.61 billion in the first quarter of 2024. Notably, the agricultural sector alone experienced a remarkable 474.50% quarter-on-quarter growth. Local CIT payments amounted to […]

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Oil production declined by 160,000bpd in Q2 2024 – NBS

Nigeria’s daily oil production decreased by 160,000 barrels per day in the second quarter of 2024. This was disclosed in the recent National Bureau of Statistics report. The report revealed that during this period, the country averaged a daily production of 1.41 million barrels per day (mbpd), down from 1.57 mbpd in the first quarter. […]

How FG can boost Nigeria's digital growth - Analyst
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ICT contributed 19.78% to Nigeria’s Q2 2024 GDP – NBS

Nigeria’s Information and Communications Technology sector contributed 19.78% to the country’s real Gross Domestic Product in the second quarter of 2024, according to data released by the National Bureau of Statistics on Monday. This marks a slight increase from the 19.54% contribution recorded in the same period last year, highlighting the sector’s growing importance to […]

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Discos earn N3.95tn in five years – Report

Nigeria’s electricity distribution companies (Discos) reported a total revenue of approximately N3.95 trillion between 2019 and the first quarter of 2024, according to data from the National Bureau of Statistics. The data indicated a steady increase in revenue over this period, with Discos earning N482.6 billion in 2019, N526.8 billion in 2020, N761.2 billion in […]

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Food prices surge by over 200% in June – NBS 

Prices for staple foods like tomatoes, beans, and garri increased dramatically in June 2024 when comparedl  to the same period in 2023. This was disclosed in the National Bureau of Statistics report, showing these increases in its Selected Food Price Watch released on Wednesday. According to the NBS, the price of tomatoes (1kg) surged by […]

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