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NBS
News and analysis about NBS
In the third quarter of 2023, Nigeria recorded a foreign trade surplus of N1.89 trillion out of a total trade of N18.8 trillion.
Nigeria has recorded a trade surplus of N1.89 trillion in the third quarter of 2023.
Last week, the National Bureau of Statistics (NBS) released Nigeria’s Gross Domestic Product (GDP) report for the third quarter of 2023.
The average price of 500g unsliced bread in Nigeria has risen by 52.69% in one year, according to the Selected Food Price report for October 2023 by the National Bureau of Statistics (NBS).
The lower non-oil sector growth rate recorded in Q3 of 2023 highlights shortcomings in the economic diversification efforts of FG.
Nigeria’s oil sector grew –0.85% in Q3/2023. This is according to the GDP report recently released by the NBS.
NBS latest report on Nigeria’s GDP growth rate for Q3 2023 shows that the economy grew by 2.54%, slightly up from the 2.51% in Q2 2023.
The National Bureau of Statistics has said that Nigerians spent N61.07 trillion on household consumption in the first six months of 2023.
In the transport fare watch for the month of October 2023, the average fare for bus journeys within the city per drop decreased by 16.48%, falling from N1,337.80 in September to N1,117.30 in October 2023.
The average retail price for diesel rose to N1004.98 per liter for October 2023 from the N890.80 recorded sold in September 2023.
Ahead of the release of October 2023 inflation figures on Tuesday, November 14, by the NBS, analysts at Afrinvest West Africa are forecasting a further hike in Nigeria’s headline inflation rate to 27.9% for October 2023.
The average price of 1kg of loose locally sold rice surged by 60.59%, climbing from N471.42 in September 2022 to N757.06 in September 2023.