Tag
NBS
News and analysis about NBS
The prices of major staple food items such as tomato, beans, garri and potato rose by over 30% in the month of May according to the National Bureau of Statistics (NBS) food price watch for the month.
Since the removal of the fuel subsidy in 2023, the average retail price of petrol in Nigeria has surged, affecting the economy.
The total volume of electricity supply by Discos to customers in the first quarter of 2024 declined by 10.3% from 6,432.22 (Gwh) in Q4, 2023 to 5,769.52 (Gwh) in the first three months of this year.
The Chinese government has promised to increase agricultural product imports from Nigeria going forward.
The price of Automotive Gas Oil, popularly referred to as diesel, has soared by 66.29% year to date (YTD) to over N1,403 as of May 2024.
The average retail price of 5kg of Liquefied Petroleum Gas (cooking gas) increased by 13.75% from N6,521.58 recorded in April 2024 to N7,418.45 in May 2024.
The cost of living in Nigeria continues to rise, with May 2024 Consumer Price Index (CPI) data showing a consistent increase in inflation rates across both all items and food, affecting the daily lives of people in states.
Nigeria's inflation rate surged to 33.95% in May 2024, up from 33.69% in April 2024, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Saturday.
Advocates of weaker currencies, love to sing the praises of a floundering local currency.
Company Income Tax (CIT) collection in the first three months declined by 12.87% from N1.13 trillion recorded in Q4, 2023 to N984.61 billion.
In the first quarter of 2024, Value Added Tax (VAT) paid by Nigerians increased from N1.20 trillion in Q4, 2023 to N1.43 trillion in the first three months of 2024. This represents an increase of 19.21% when compared quarter-on-quarter.
The value of Nigeria’s crude oil export earnings increased by 50.2% in the first quarter of 2024 to N15.4 trillion, according to data from the Nigeria Bureau of Statistics (NBS).