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Tag: NBS

Increase in taxes raises household spending, says former NBS DG
News

Increase in taxes raises household spending, says former NBS DG

Chief Economist at KPMG Nigeria and former Director-General of the National Bureau of Statistics, Dr. Yemi Kale,  has expressed worries about the possible detrimental effects of increased taxation on household expenditure and the growth of private businesses. According to Nairametrics, speaking on June 3 at the Nairametrics Q2 2023 Economic Outlook Webinar, Dr. Kale emphasized the […]

Nigeria's mineral production rose by 39% in 2021 - NBS
Business

Nigeria’s GDP drops to 2% – NBS

Nigeria’s overall economic output, known as Gross Domestic Product, grew by 2.31 per cent year-on-year in the first quarter of 2023. However, this growth rate is lower than the 3.11% recorded in the first quarter of 2022 and the 3.52 per cent growth rate in the last quarter of 2022. The decline in growth according […]

Nigeria's textile imports hit N365bn despite efforts to revive local industry
E-commerce

Nigeria’s textile imports hit N365bn despite efforts to revive local industry

Nigeria’s imports of textiles have more than doubled in just two years, reaching a 15-year high despite efforts to revitalize the industry. The National Bureau of Statistics data revealed that from N182.5 billion in 2020 to N365.5 billion in 2022, the importation of textiles and textile-related products increased by 100.3% which was the highest level in […]

Only four Nigeria states attract foreign investment in Q4 - Report
Agribusiness Oil and Gas

How Nigeria spent N6.7trn on agric imports in five years – NBS

Figures from the National Bureau of Statistic shows that Nigeria spent N6.7 trillion in total over five years on the importation of agricultural goods. According to Nairametrics, this amounts to 7.6% of the N89.2 trillion in imports that were documented over the previous five years. Although government policies toward agriculture have changed throughout the years, […]

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

Nigeria’s corporate income tax drops to N753.88 in Q4 2022

The National Bureau of Statistic has revealed that the total company income tax recorded by Nigeria dropped by -6.95% from N810.19 billion in Q3 2022 to N753.88 billion in Q4 2022. According to Nairametrics, this was disclosed by the NBS on Wednesday through it’s Company Income Tax, Q4 report. It also stated that the local […]

Domestic airfares increased by 95% in 12 months – NBS
Aviation

Domestic airfares increased by 95% in 12 months – NBS

that the average domestic airfare paid by passengers climbed by 94.78% during the previous 12 months. According to The PUNCH, this development occurred when several difficulties affecting the regional aviation industry were being reported. The NBS stated in a new study titled “Transport Fare Watch (January 2023)” that when compared month to month, airfares saw […]

Nigeria's mineral production rose by 39% in 2021 - NBS
Business

Nigeria’s crude oil production declines by 13%

The Nigerian Bureau of Statistics has  said crude oil production, which represents about two-thirds of government revenue and 90 per cent of its foreign exchange reserves, declined by 13.3% per cent against 2021 in the fourth quarter of 2022. According to the bureau’s most recent data, Nigeria produced 1.3 million lesser barrels of oil per day […]

Cooking gas price increased by 39% one year - NBS
Oil and Gas

Cooking gas price increased by 39% one year – NBS

Recent data from the National Bureau of Statistics has shown that the cost of 12.5kg of cooking gas increased from N7,413.25 in January 2022 to N10,277.17 in January 2023, a 38.63% rise from the previous year. Nonetheless, the monthly increase in the price to refill it from N10,248.97 in December 2022 to N10,277.17 in January […]

Nigeria's mineral production rose by 39% in 2021 - NBS
Business

Nigeria’s GDP growth rate records 3.10% decline – NBS

The Nigerian annual Gross Domestic Product recorded a 3.1 percent growth in 2022, this represents a 0.3 percentage point decline from the 3.4 percent recorded in 2021. This was disclosed by the National Bureau of Statistics in the just released GDP report for the fourth quarter, Q4’22. However, the GDP growth in the fourth quarter […]