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Tag: NBS

Business

Nigeria’s foreign capital imports drop 9% – NBS

The National Bureau of Statistics’ foreign capital report shows that, compared to the first three months of 2023, Nigeria’s importation of foreign capital decreased by 9.04% in the second quarter of 2023. The Times reported that the country’s foreign capital decreased by 32.90% year over year, from $1.53 billion in the second quarter of 2022 to […]

Road accidents decrease by 24% in 2023 Q1 - NBS
Business

Road accidents decrease by 24% in 2023 Q1 – NBS

There were a total of 2,733 traffic accidents on the roads in the first quarter of 2023, therefore indicating a 24.44% decrease from the 3,617 crashes reported in the previous quarter and an 18.30% decrease from the 3,345 crashes reported in the same quarter of 2022. According to The Times, this information is in accordance with the National […]

Only four Nigeria states attract foreign investment in Q4 - Report
Business

Insurance industry grows 8.29% – NBS

The National Bureau of Statistics most recent data show that the insurance industry is back on a growth trajectory after increasing by 8.29% in the second quarter of 2023. According to The Punch, data on economic performance show that the industry had previously seen a setback of 7.25 percent shrinkage in the first quarter of the year […]

Business

Nigeria’s exports to India decrease by 61% in one year

The most recent National Bureau of Statistics data reveal that Nigeria’s exports to India have dropped dramatically by a startling 61% in the last year. According to The Times, in conjunction with the G20 summit that is currently taking place in India, President Bola Ahmed Tinubu is leading a corporate delegation from Nigeria there for a business […]

Only four Nigeria states attract foreign investment in Q4 - Report
Business

Product taxes hit N1.36trn in six months – NBS

The country’s product taxes increased to N1.36 trillion in the first half of 2023 despite widespread suffering getting worse. This is a 113.29 percent increase from N636.19 billion in the first six months of 2021 and a 25.00 percent increase from N1.09 trillion in the same period of 2022. These figures are based on current basic […]

Economy featured

Nigeria’s inflation hits 24.08% – NBS

The National Bureau of Statistics has revealed that Nigeria’s inflation rate rose to 24.08 per cent in July 2023.   This, according to the latest report by the statistics agency, is the highest recorded leap in 2023 and in a while.   In June, inflation was recorded at 22.79 per cent, but has now risen […]

Only four Nigeria states attract foreign investment in Q4 - Report
Transportation

Bus fare rises 98% one month – NBS

The National Bureau of Statistics reports that while the price of Premium Motor Spirit increased at the pump, the average cost of bus travel within Nigerian cities increased from N649.59 in May 2023 to N1,285.41 in June 2023. These figures which were derived from the NBS’s June 2023 Transport Fare Watch report indicate that within a month, […]

Okada fares hit 258% in four years - NBS
Business

Okada fares hit 258% in four years – NBS

The average okada (motorcycle) fare increased by 258.2% between May 2019 and May 2023. This information was from the National Bureau of Statistics’ Transport Fare Watch which states that between May 2019 and May 2023, the average fare for okada rides increased from N129.69 to N464.55. The average fare paid on Okada transport in May 2023 was […]

Economy featured

Inflation rate hits 22.79% in June – NBS

The National Bureau of Statistics on Monday disclosed that Nigeria’s inflation rate accelerated for the sixth consecutive time to 22.79 per cent in June 2023.   The News Agency of Nigeria reported that the inflation rate rose to a new 17-year high of 22.79 per cent in June 2023 from 22.41 per cent in the […]

News

Nigeria’s capital inflow drops by 28% – NBS

The Nigerian Bureau of Statistics’ most recent report shows a 28% decrease in overall capital inflow to Nigeria during the first quarter of 2023. The amount of capital intake during the first three months of the year totaled $1.13 billion, down $441 million from the same period in 2022. The first quarter of 2022 had […]

Nigeria's food import bill exceeds N7.8 tn in six years - Report
News

Nigeria’s food import bill exceeds N7.8 tn in six years – Report

Nigeria has spent more than N7.8 trillion in the last six years on food imports despite claims that it is Africa’s food basket. According to ThisDay, the astounding amount shows that Nigeria’s leadership has not yet set the country on the proper path to eradicate hunger by 2030 as required by the Sustainable Development Goals of the […]

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