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Tag: NBS

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

Nigeria’s VAT collection rises 21.34% to N948.07bn in Q3 – Report

Value Added Tax revenue in Nigeria climbed by 21.34% in Q3 2023, from N781.35 billion in the second quarter to N948.07 billion. This is based on the National Bureau of Statistics’ third-quarter Value Added Tax report. In Q3 2023, N522.08 billion was collected in local payments, N204.58 billion in foreign VAT payments, and N221.41 billion from import […]

Insurance industry grew by 16.99% in Q3 - NBS
featured

Insurance industry grew by 16.99% in Q3 – NBS

Nigeria’s insurance industry grew by 16.99 percent in the third quarter of the fiscal year 2023. The Punch reported that this was made clear in the National Bureau of Statistics’ third-quarter report on the nation’s gross domestic product, which covered finance and insurance. According to the statement, “The finance and insurance sector is made up of […]

Oil and Gas

Oil sector gained zero foreign investment in Q2 – NBS

National Bureau of Statistics has stated that the country’s oil and gas industry failed to draw any foreign investment for the first time in Q2 2021 despite the worldwide push for cleaner energy. According to the NBS’s “Nigeria Capital Importation Q2” report, between January and June, the Federal Government was unable to persuade IOCs to make […]

featured

How food prices rose in September – NBS

  By Wilson Adekumola The National Bureau of Statistics has revealed how prices of beef, rice, beans, onion, yam and other food items increased in September 2023. The NBS disclosed this in its Selected Food Prices Watch report for September 2023 released in Abuja on Monday, according to News Agency of Nigeria. The report indicated […]

IGR
News

Lagos, Rivers, FCT maintain IGR dominance — Report

The National Bureau of Statistics has said Lagos, Rivers, and the Federal Capital Territory lead the other states in terms of internally generated revenue in 2022, just like they did in 2021.   According to the NBS report on Internally Generated Revenue At the State Level for 2022, Lagos, Rivers and FCT generated ₦651,145,633,085.30, ₦172,823,232,535.44, […]

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 […]

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