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UBA wins Bank-of-the-Year award in Nigeria, seven other countries

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Tag: NBS

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 […]

News

NBS reports 34.1% increase in average passengers’ airfare

The National Bureau of Statistics has reported that within a year, the average fare paid by air travelers for specific routes for a single trip grew by 34.06 percent. This was revealed in the Transport Fare Watch Report for May 2023, which the NBS released on Tuesday in Abuja. The NBS reported that the fare […]

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

Lagos ports processed 90% Nigerian exports in Q1 – NBS

In the first quarter of 2023, various ports in Lagos handled 97.13 percent of exports and 81.5 percent of imports, accounting for about 90 percent of all import-export transactions in Nigeria. Results from the National Bureau of Statistics Foreign Trade in Goods Statistics for Q1’23 reveal that N10.83 trillion, or 89.9% of Nigeria’s overall trade of N12.05 […]

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

Nigeria company tax Q1 2023 hits N469bn – NBS

The National Bureau of Statistics has reported the country’s total Company Income Tax for the first quarter of 2023 to be N469.01 billion. The information was revealed in the NBS Company Income Tax Q1 2023 report which was made public on Wednesday in Abuja. In comparison to the N753.88bn reported in Q4 2022, the data displays a growth […]

Rail transport passengers drop by 53% - NBS
Transportation

Rail transport passengers drop by 53% – NBS

The Rail Transportation Data report published by the Nigerian Bureau of Statistics has revealed that the number of passengers using rail transportation in Nigeria decreased significantly in the first quarter of 2023 by 53.65%, falling from 953,099 in Q4 2022 to 441,725 in the most recent quarter. The data also showed a significant drop in […]

102.39m Nigerians now have NIN - NIMC
News

Lagos, Kano, Kaduna rank highest in NIN registration list

A recent report by the National Bureau of Statistics has revealed that between 2019 and 2021, registration with the National Identity Management Commission was highest in Lagos, Kano, and Kaduna. The data states that Lagos state had the most registrations in 2019 with 560,757, followed by Kano with 485,912 and Kaduna state with 595,284. Lagos […]

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 […]

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