Home Research Data

Research Data

Market research, Financial and Macro-economic data from Nigeria

Purchasing Managers' Index

CBN PMI hits year high in December

Manufacturers in the country expressed renewed optimism in this month’s purchasing managers index carried out by the Central Bank of Nigeria (CBN) The Manufacturing PMI...
fuel scarcity, oil marketers

Petrol prices inch upwards in November

Data from the National Bureau of Statistics show the average price paid by consumers for premium motor spirit (petrol) increased by 1.3% year-on-year and...
Forbes best countries for business 2018

Nigeria’s unemployment rate hits all time high since 2014

The Nigerian Bureau of Statistics, NBS, has finally released the much anticipated unemployment report in the country, with the number of unemployed Nigerians at 20,927,648.
Inflation, private sector loans, NBS

Inflation rises by 11.28% year on year in November

Figures from the National Bureau of Statistics (NBS) Consumer Price Index (CPI) report show Nigeria's inflation rose by 11.28% year on year in November...

Foreign Direct Investment nears 2015 high in Q3 2018

Capital imported into the country fell by 48% to $2.8 billion.
Nigeria's cashew nuts exports fall by 74%

Nigeria’s cashew nuts exports fall by 74%

Nigeria recorded a massive 74% drop in exports of Cashew Nuts in Shell according to the third quarter foreign trade report of the National Bureau of Statistics.
Nigerian Military

Official: Nigeria spends N1.2 billion only on imports of Arms and Ammunition

Nigeria's military spending rose by a whopping 2,138% for the third quarter of 2018, one of the highest seen in recent years. This was contained...

Nigeria’s Vehicle, Aircraft & Vessel import jump 891% in Q3 2018

The National Bureau of Statistics released its 2018 Third Quarter Foreign Trade Statistics report showing Nigeria's import bill rose to N4.1 trillion representing a...

How declining oil prices could affect Nigeria’s 2019 budget

As global crude oil prices continue to decline, there are growing concerns that the development could negatively affect the Nigerian Government's economic plans.

Africa oil and gas state of play

The African continent continues to boast a vast array of potential opportunities, particularly in the oil and gas (O&G) sector
Forbes best countries for business 2018

At 182m, Nigeria has the world’s 7th largest population

The world's most populous black nation — Nigeria — now has an estimated population of 182 million, half of whom are young and in need of jobs. 
Nigerian People

World Bank doing business report 2019: Nigeria records mixed fortunes

The World Bank Group (World Bank) on Wednesday, 31 October 2018, published it’s 2019 Doing Business Report (the Report). This latest report sees Nigeria ranking 146 out of 190 countries on the ease of doing business index, a drop by one place from 2018 ranking of 145.
Xi Jinping and Buhari

Nigerian assets that may be taken over by China

In the past three years, Nigeria has gotten over $5 billion loan from the People’s Republic of China.

Nigeria earned N1.16 billion from rail in six months

FG has generated a total of N1.16 billion through the rail system of transportation in H1 2018.
Naira vs dollas, IMF, Foreign Reserves, External reserves, CBN

Again, external reserves falls by $500 million in one week

CBN data reveals the nation’s external reserves fell by $500 million in the past one week.
Shea Butter

How Nigeria can earn $10 billion annually from Shea butter exports

The National Bureau of Statistics (NBS) reported that Nigeria earned N101.97 billion from the export of only Shea oil in the first quarter of 2018.

Why Nigeria is in deep revenue problem, despite rise in oil price

For every litre of Premium Motor Spirit (petrol) consumed in Nigeria, Akabueze confirmed that the nation spends N55 to subsidise the fuel through the Nigerian National Petroleum Corporation (NNPC)

Abuja, Niger, Kaduna ranked best destination to do business in Nigeria

Abuja came top as the number one state to do business in Nigeria in 2018, with a DTF score of 85.61
President Muhammadu Buhari

FG tightens economy, proposes N8.6tn budget in 2019

the nation is targeting a tighter fiscal plan for the economy by projecting a budget of N8.6 trillion in the next fiscal year -2019.
fuel scarcity, oil marketers

Consumers in Enugu paid the highest for Petrol in September

Average price paid by consumers for PMS increased to ₦147.30 in September 2018, from ₦146.9 in August 2018
Naira vs dollas, IMF, Foreign Reserves, External reserves, CBN

Foreign Reserves drop by $1.1 billion in 2 weeks, now $43 billion

the external reserves currently stands at $42.92 billion as at Tuesday, October 16,
Diesel Price

Price of Diesel Hits second highest since September 2017

Average price paid by consumers for diesel increased to ₦211.64 in September 2018 from ₦207.98 in August 2018.
Cross section of Nigerians

Nigeria climbs 10 places to 115th in Global Competitiveness Rankings

Nigeria has been ranked in the 115th position in the Global Competitiveness Index (GCI) 4.0 Rankings 2018, released by the World Economic Forum (WEF)
L-R: IMF MD, Christine Lagarde and Jim Kim, the World Bank president

Key takeaway on Nigeria as World Bank marks 2018 annual meetings

The International Monetary Fund and the World Bank kicked off event to mark the 2018 Annual Meeting in Bali Indonesia on October 8th through...

IMF cuts global economy growth forecast; hits at strain in emerging markets

The International Monetary Fund (IMF) cut its global growth forecast in its October 2108 World Economic Outlook (WEO). The IMF dropped its growth forecast by...
Nigerian people

IMF joins World Bank, also cut down Nigeria’s growth for 2018

The International Monetary Fund (IMF) cut down its 2018 economic growth projections for Nigeria to 1.9%, from the 2.1% it earlier forecast for the country in 2018.
Pan Ocean Limited

GDP may rise as NNPC set to boost oil output

Nigeria’s economic growth slowed down for the second consecutive quarter, as crude oil production fell to 1.84 million bpd.
Nigerian people

World Bank cut down Nigeria’s growth for 2018

The 2018 economic growth forecast for Nigeria and other sub-Saharan countries has been cut down to 2.7% by the World Bank

Manufacturing sector expands for the 18th consecutive time

Manufacturing PMI for the month of September stood at 56.2 index points.
Nigerian sea port

How importation is killing Nigeria’s economy

A total of $411.32 billion worth of goods have been imported into the country, between 2010 and 2017.