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NBS
News and analysis about NBS
The Nigerian economy has displayed significant dynamism in the collection of Value Added Tax (VAT), with some sectors showing exceptional growth while navigating through a maze of challenges. In 2023, the country earned about N3.64 trillion from VAT, which is an increase of 45.02% from the previous year, according to the National Bureau of Statistics (NBS).
Nigerian companies are stepping up their contributions to the national purse despite challenges in the business environment.
In Nigeria, some states are more expensive to live in when compared to others according to data from the National Bureau of Statistics.
Nigeria has recorded a 45.02% increase in its Value Added Tax (VAT) collections, amassing a total of N3.64 trillion in 2023, according to data from the National Bureau of Statistics (NBS).
A new report from Ernst and Young estimates that 17 out of 24 banks might not meet the capital requirement from the CBN if it is increased 15-fold from its current N25 billion.
Nigeria’s Company Income Tax (CIT) collections rose by 73.14%, reaching N4.9 trillion in 2023, up from N2.83 trillion recorded in the previous year, according to data from the National Bureau of Statistics (NBS) unveiled these figures.
The value of agricultural goods imported into Nigeria in 2023 exceeded exports by N1.037 tn marking the 5th year imports exceeded exports.
Dangote Cement Plc, BUA Cement Plc, and Lafarge Africa Plc spent a whopping sum of N598.137 billion in fuel and power during the full year ended December 31, 2023.
The total value of Nigeria’s used vehicle import increased significantly from N325.05 billion in 2022 to N1.063 trillion in 2023- marking an increase of 226.46% over a one-year period.
Eating a healthy diet during Ramadan is pivotal for maintaining optimal health and energy levels, as fasting from dawn to sunset requires careful management of nutrient intake.
Foreign trade reports from the NBS indicate that Nigeria exported agricultural goods worth N1.23 trillion in 2023.
In 2023, Nigeria’s total foreign trade reached N71.88 trillion- an increase of 37.2% when compared to the N52.38 trillion recorded by NBS