Inflation Records 18th Consecutive Decline To 11.14% –NBS

The National Bureau of Statistics on Wednesday released the Consumer Price Index which measures inflation with the index dropping by 0.09 per cent points from 11.23 per cent in June to 11.14 per cent in July. The bureau in the report said this is the eighteenth consecutive disinflation in headline index. The report reads in […]

FAAC Reflates Economy With N821.86Bn In July, Says NBS

The National Bureau of Statistic (NBS) has disclosed that Federation Account Allocation Committee (FAAC) disbursed the sum of N821.86 billion to the three tiers of government in July 2018 from the revenue generated in June 2018. According to bureau report on Tuesday, the amount disbursed consist of N687.35billion from the Statutory Account, N85.34billion from Valued […]

NBS: NAFDAC Impounded N3bn Substandard Goods in 2017

A report by the National Bureau of Statistics (NBS) has disclosed that in 2017, the National Agency for Food and Drug Administration and Control (NAFDAC) impounded fake and substandard goods valued at N3 billion. The report posted on NBS official website yesterday, stated that last year, 6,999 applications were received for products registration. While products […]

Economy Grew By 1.95% In Q1 2018 – NBS

Nigeria’s Gross Domestic Product grew by 1.95 per cent year-on-year in real terms in the first three months of this year. The National Bureau of Statistics stated this on Monday in its GDP report for the first quarter of 2018. “This shows a stronger growth when compared with the first quarter of 2017 which recorded a growth […]

Inflation rate drops to 14.33% in February – NBS

The National Bureau of Statistics on Wednesday said the country’s Consumer Price Index which measures inflation rose by 14.33 per cent (year-on-year) in February 2018. The bureau in the report said the 14.33 per cent rate for February is 0.08 percentage points lower than the 15.3 per cent recorded in January. The report said this is the […]

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Nigeria Attracted $12.2bn Capital Inflow In 2017 – NBS

The total amount of foreign capital attracted by the Nigerian economy in 2017 stood at $12.2 billion, the National Bureau of Statistics (NBS) has said. A report released by the agency on Thursday reveals that the new figure is a massive jump over the $5.38 billion recorded in the whole of 2016. The NBS also […]

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Nigeria’s GDP Records 0.82% Growth Rate in 2017, Says NBS

The National Bureau of Statistics (NBS), on Tuesday, in a release of the full year 2017 Gross Domestic Product growth rate for the country, says the country’s economy growing by 0.82 per cent in 2017. The 0.82 per cent growth in GDP is an improvement over the contraction of -1.58 per cent which the economy […]

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Nigeria’s Inflation Drops To 15.13 % – NBS

The inflation rate, measured by the Consumer Price Index (CPI), has further dropped to 15.13 per cent in January from 15.37 per cent recorded in December, 2017, National Bureau of Statistics, NBS has said. The NBS disclosed this in its CPI report for January 2018 released on Wednesday in Abuja. The Consumer Price Index (CPI), […]

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16 m Unemployed In Nigeria In 2017 Third Quarter — NBS

Out of a total active labour force of 85.08 million people in Nigeria, about 16 million people were unemployed in the third quarter of 2017, the National Bureau of Statistics, NBS, has said. This was contained in a report on Labour Force Statistics in the third quarter of 2017 published on the bureau’s website on […]

Nigeria’s Economy Records 1.4% GDP Growth Rate In Third Quarter

The National Bureau of Statistics on Monday released the Gross Domestic Product growth rate for the country with the economy recording a 1.4 percent increase in growth rate in the third quarter of this year. This is the second consecutive positive growth since the emergence of the economy from recession in the second quarter  2017. […]