Nigeria – Now That The Recession Is Over, What Next? 

Bukola Ogunyemi On Tuesday, the National Bureau of Statistics gave a lot of Nigerians the news they desperately wished to hear – Nigeria is out of recession. After five consecutive quarters of negative GDP growth that started in Q1 2016, Nigeria’s economy grew by 0.55% in Q2 2017. Predictably, data once again became the hero and […]

Inflation rate drops but food prices hit highest level in 8 years

Data released by the National Bureau of Statistics (NBS) show that consumer price index (CPI), which mesasures rate of inflation, dropped for the sixth consecutive month — although by a smaller margin. According to the NBS, inflation rate dropped to 16.05% from 16.1% in June, but food index soared to 20.28 percent. “The consumer price […]

NBS: Nigeria Recorded $1.8bn Capital Importation in Q2

• FDI increased by 30% over previous quarter • Emefiele explains limits of monetary policy during recession The total value of capital imported into Nigeria in the second quarter (Q2) of 2017 has been put at $1.792 billion, indicating a $884.1 million increase over the figure recorded in Q1 2017 and a growing appetite by […]

Govt officials received N400bn bribes in one year – NBS

A total of N400bn was received in bribes by public officials within a period of one year, the National Bureau of Statistics said on Wednesday. The NBS stated this in its National Corruption Report, adding that 32.3 per cent of Nigerian adults who had contact with public officials between June 2015 and May 2016 had […]

Inflation rate drops to 16.25% in May –NBS

The National Bureau of Statistic (NBS) has said inflation rate dropped to 16.25 per cent in May 2017, 0.99 per cent lower than 17.24 per cent recorded in April. The decline reflects fourth consecutive decline in inflation rate since January 2017 as government continued to pump liquidity into the system. The Bureau explained that headline […]

FCT, Lagos State record 58,566 crime cases in 2016 – NBS

The National Bureau of Statistics (NBS) said that the FCT and Lagos State reported a total of 58,566 crime cases in 2016. The NBS stated this in a Crime Statistics: Reported by Type and State in 2016 and posted on the bureau’s website on Tuesday in Abuja. According to the bureau, the FCT and Lagos […]

2.1 million Nigerians lost their jobs in 2016 –NBS

The National Bureau of Statistics has said that the number of Nigerians who became unemployed rose by 2.1 million to 11.55 million at the end of 2016 from 9.48 million at the beginning of the year. The NBS stated this in its unemployment report, which was released on Monday night. The NBS report stated that […]

Jobless Nigerians now 11.5 million as unemployment rate hits 14.2% -NBS

The National Bureau of Statistics has said that the number of  Nigerians that are unemployed rose from 11.19  million as at the end of the third quarter of 2016 to 11.55  million in the fourth quarter of 2016. The NBS stated this in its unemployment report which was released on Monday night. The report explained […]

Nigeria’s foreign debt stands at $11bn – NBS

The National Bureau of Statistics (NBS) said Nigeria’s foreign debt stood at $11.41 billion while the domestic debts was N14.02 trillion in 2016. The NBS stated in “Nigerian Domestic and Foreign Debt – 2016’’ data posted on its website on Wednesday in Abuja, that the sum reflected states’ and federal debt stock. The report showed […]