Nigeria’s upcoming planting season faces a serious threat as farmers across the country consider scaling down operations or boycotting the cycle entirely. Mohammed Magaji, President of the All Farmers Association of Nigeria (AFAN), warned that a combination of surging input costs and collapsing produce prices has made farming a loss-making venture, leaving many agriculturalists with […]
Nigeria’s gross domestic product (GDP) grew by 3.98 percent year-on-year in real terms in the third quarter of 2025, according to the latest GDP report released by the National Bureau of Statistics (NBS). The figure represents a slowdown from the 4.23 percent recorded in the second quarter, as elevated inflation and tight monetary policy continued […]
Nigeria’s Value Added Tax (VAT) revenue for the second quarter of 2025 stood at ₦2.06 trillion, marking a 32.15 percent increase on a year-on-year basis compared to Q2 2024. This figure was contained in the VAT Q2 2025 report released by the National Bureau of Statistics (NBS) on Tuesday in Abuja. However, on a quarter-on-quarter […]
Nigeria’s annual inflation rate eased to 21.88 percent in July from 22.22 percent in June, the National Bureau of Statistics (NBS) said on Thursday. It is the fourth consecutive monthly decline since the statistical agency updated its methodology earlier this year, including a new base year and reweighted Consumer Price Index (CPI) basket. The changes […]
Bismarck Rewane, economist and chief executive of Financial Derivatives Company, has advised Nigerian policymakers to shift focus from positive economic indicators to policies that improve the lives of ordinary citizens. His comments follow recent data from the National Bureau of Statistics (NBS), which showed that Nigeria’s Gross Domestic Product (GDP) grew by 3.13% in the […]
The National Bureau of Statistics (NBS) says Nigeria’s economy grew by 3.13 percent in the first quarter (Q1) of 2025, up from 2.27 percent recorded in the same period last year. In a statement released on Monday, the NBS said the growth was largely driven by the services sector, which recorded a 4.33 percent increase […]
BY TUNDE OPALANA The National Bureau of Statistics (NBS) on Thursday disclosed that Nigeria’s inflation has dropped by 1.86 per cent on a month-on-month basis. According to the Bureau, the nation’s inflation dropped to 23.7 per cent in April, from 24.23 per cent in March 2025. This was contained in NBS’s April Consumer Price Index […]
BY TUNDE OPALANA The National Bureau of Statistics (NBS) on Tuesday disclosed an increase in Nigeria’s inflation rate from 23.18 percent reported in February to 24.23 percent in March. The drop is coming after two months of respite following the rebasing of the nation’s economy in January this year. The NBS announced an increase in […]
BY MOTOLANI OSENI Nigeria’s economy expanded by 3.40 per cent in 2024, up from 2.74 per cent in 2023, according to recently released data from the National Bureau of Statistics (NBS). However, the country’s Gross Domestic Product (GDP) fell sharply to $195 billion from $363 billion in 2023, reflecting the severe impact of currency devaluation, […]
…estimates real value of economy at N22.61 trillion and N78.37 trillion in nominal terms By Tunde Opalana The Nigerian Bureau of Statistics (NBS) in an economic growth performance document released on Tuesday reveled that the nation’s Gross Domestic Product (GDP) great by 3.84 per cent in real terms in the fourth quarter of 2024. This […]
The cost of food in Nigeria has surged by 97 per cent between November 2023 and November 2024, the National Bureau of Statistics (NBS) latest report has shown. This sharp increase reflects the mounting challenges faced by hou latest reportamidst economic pressures and rising inflation. The NBS data revealed that the average cost of food […]
The National Bureau of Statistics (NBS) has denied reports that Adeniran Adeyemi, the Statistician-General of the Federation, was summoned by the Department of State Services (DSS) for questioning. The clarification comes amidst the recent release of a contentious report on ransom payments in Nigeria by the NBS, which revealed that Nigerians paid a staggering N2.23 […]
The National Bureau of Statistics (NBS) says 20.30 billion litres of Premium Motor Spirit (PMS) also known as petrol was imported in 2023. The NBS stated this in its Petroleum Products Distribution Statistics for 2023 released in Abuja on Tuesday. The report said the figure of 20.30 billion litres of PMS reported in 2023 amounted […]
By Motolani Oseni The National Bureau of Statistics (NBS), has said the nation’s inflation rate for January 2024 surged to 29.90 percent. This represents a significant increase from the 28.92 percent recorded in December 2023. Amidst rising costs of goods and services in the country, the NBS also put food inflation at 35.41 percent compared […]
By Temitope Adebayo The National Bureau of Statistics (NBS) has said the Federal Government generated N1.49 billion from passenger fare for rail transport in the third quarter 2023 (Q3 2023). NBS made this disclosure in its document tagged: “Rail Transport Data (Q3 2023).” According to the document, the revenue rose by 108.25% from the N715.09 […]
A new report from the National Bureau of Statistics (NBS) has revealed a litre of Kerosene cost N1287.10 in November 2023, 1.23 per cent less than the amount it was sold in October. The statistics bureau’s data, which Naija News saw on Friday, showed that, in November, the price of kerosene per liter fell by […]
Revenue accruable to Federal Government from Company Income Tax (CIT) declined by 37.79 per cent in Q1 2023, falling from N753.88 billion to N469.01 billion, the National Bureau of Statistics (NBS) has revealed. Figures from the statistics body showed that local payments accounted for N300.78 billion, while foreign CIT payments contributed N168.23 billion during the […]
By Joy Obakeye The National Bureau of Statistics (NBS) has revealed that Nigeria earned N109.6 trillion from non-oil tax in 12 years. NBS disclosed this in a document entitled: “Tax -To- GDP Ratio.” The report noted that in the period between 2010 and 2021, the country, also, earned N25.1trillion from oil tax. NBS said in […]
.Says airfares rose by 97% in one year The National Bureau of Statistics (NBS) said that prices of selected food items increased in November. This is, according to the NBS Selected Food Prices Watch Report for November 2022, released in Abuja on Monday. The report said that the average price of 1kg boneless beef on […]
By Godwin Anyebe The National Bureau of Statistics (NBS) has disclosed that the federal government generated N1.435trn from Value Added Tax (VAT) and Company Income Tax (CIT) in the third quarter of 2023. NBS, in reports it released, stated that the government made N810bn from CIT and N625bn from VAT. It stated that on aggregate, […]