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Tag: NBS

NBS names three countries with highest capital investment in Nigeria
News

NBS names three countries with highest capital investment in Nigeria

In the fourth quarter of 2023, the National Bureau of Statistics reported that the United Kingdom, Mauritius, and the Netherlands emerged as the leading contributors to capital investments in Nigeria. The data, outlined in the Nigeria Capital Importation report for Q4 2023, highlights the significant economic ties between Nigeria and these countries. During this period, […]

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

Foreign investment in manufacturing sector falls by 54% – NBS

The latest Capital Importation data from the National Bureau of Statistics shows that foreign investments in Nigeria’s manufacturing sector decreased by $326 million (54%) to $279.5 million in the third quarter of 2023 from $605 million in the second quarter. According to The PUNCH, the report’s further research, despite the large decline, the production sector […]

FDI drops $471m in five years - NBS
Business

FDI drops $471m in five years – NBS

Foreign direct investments into Nigeria have decreased by $470.8 million over the last five years. This followed analysis of various National Bureau of Statistics Capital Importation reports. According to Investopedia, FDI is an investment in a foreign firm or project made by a foreign investor, company, or government. The NBS reported on Friday in its […]

Business

NBS records N7.5tn trade deficit with China – Report

The trade balance between Nigeria and China grew to N7.54 trillion in the first nine months of 2023. The PUNCH reported that Nigeria’s imports from China have steadily increased over the past year, indicating a growing bilateral trade imbalance in China’s favour, according to an analysis of data from the National Bureau of Statistics. Nigeria […]

Inflation in Nigeria continues to rise, reaching an all time high almost 30% in annual terms, attributed to rising food cost and the foreign exchange crises.
Business

Inflation hits 28.20% in November – NBS

The total rate of inflation increased to 28.20% in November 2023, above the rate of 27.33% in October 2023. This suggests a rise of 0.87% from month to month. The headline inflation rate for November 2022 was significantly greater than it was for the same month the previous year, rising by 6.73% points from 21.47%. […]

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CIT collection rises by 116% to N1.75 trillion in 2023 – NBS

Nigeria’s Company Income Tax collection jumped from N810.19 billion in the third quarter of 2022 to N1.75 trillion in the third quarter of 2023, a 115.90% increase in just one year. The National Bureau of Statistics’ most recent CIT collection report for Q3 2023 made this revelation. The CIT collection increased from N1.53 trillion in Q2, […]

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
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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 […]

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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 […]

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