Business

Nigeria’s inflation rises to 24.23% after economic rebasing, says NBS

DailyTimesNGR DailyTimesNGR 15 April 2025 0

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

Headlines

Nigeria’s output gap widens as GDP falls to $195bn, debt hits N150trn

DailyTimesNGR DailyTimesNGR 2 March 2025 0

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, […]

Business

Nigeria’s GDP grows 3.84% in Q4 2024- NBS

DailyTimesNGR DailyTimesNGR 25 February 2025 0

…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 […]

Headlines

Food prices skyrocket by 97% in one year, south-east hardest hit

DailyTimesNGR DailyTimesNGR 24 January 2025 0

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 […]

News

JUST IN: NBS Breaks Silence as Rumours of DSS Arrest of Statistician-general Spread

DailyTimesNGR DailyTimesNGR 20 December 2024 0

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 […]

Headlines

Nigeria imports 20.30bn litres of petrol in 2023 – NBS

DailyTimesNGR DailyTimesNGR 2 October 2024 0

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 […]

Headlines

Prices soar as food inflation tips at 35 percent

DailyTimesNGR DailyTimesNGR 16 February 2024 0

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 […]

Transport

FG generates N1.49bn from rail transportation in Q3 2023- NBS

DailyTimesNGR DailyTimesNGR 26 January 2024 0

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 […]

News

NBS: Price of Kerosene dropped in November

Ihesiulo Grace 22 December 2023 0

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 […]

Headlines

FG revenue from CIT fell by 37.7% to N469bn in Q1 2023—NBS

Ihesiulo Grace 16 June 2023 0

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 […]

Business

Nigeria earns N109.6trn non-oil tax in 12 years- Report

Ihesiulo Grace 12 June 2023 0

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 […]

Business Headlines

Food prices increased in November – NBS

Ihesiulo Grace 27 December 2022 0

.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 […]

Business

FG rakes in N1.4trn from VAT, CIT in 3 Months–NBS

Ihesiulo Grace 22 December 2022 0

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, […]

Headlines

Nigeria generates N625bn from VAT in Q3 2022 — NBS

Ihesiulo Grace 20 December 2022 0

The National Bureau of Statistics (NBS), on Monday, said Nigeria generated N625.39 billion as value-added tax (VAT) in the third quarter of 2022. VAT is a consumption tax that is administered by the Federal Inland Revenue Service (FIRS). Revenue generated from VAT is usually disbursed to the three tiers of government through the federation accounts […]

Business

Food, kerosene prices worsen in October –NBS

Ihesiulo Grace 1 December 2022 0

By Joy Obakeye The National Bureau of Statistics (NBS) has said that prices of selected food items as well as kerosene used by households for cooking as an alternative to gas saw a significant jump in October. This is according to the NBS Selected Food Prices Watch Report for October, released in Abuja on Wednesday. […]

Headlines

Atiku/Okowa campaign raises alarm over NBS report on 133m Nigerians living in poverty

Ihesiulo Grace 18 November 2022 0

By Tunde Opalana The Peoples Democratic Party (PDP) Presidential Campaign Management Council has expressed shock at the latest report of the National Bureau of Statistics (NBS), The campaign council described as unacceptable that 63 percent Nigerians are living below poverty line with the present All Progressives Congress (APC) administration of President Muhammadu Buhari

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Over half of Nigerians are multi-dimensionally poor- NBS

Ihesiulo Grace 18 November 2022 0

By Joy Obakeye The National Bureau of Statistics (NBS) has revealed that 63 per cent of persons living in Nigeria (133 million people), more than half of the population of Nigeria are multi-dimensionally poor and cook with dung, wood, or charcoal, rather than clean energy. The NBS on Thursday in a statement on the highlight […]

Business

Food Inflation: Average price of tomato rises 30% in one year-NBS

Ihesiulo Grace 29 October 2022 0

By Joy Obakeye The average price of 1kg tomato rose by 30.06 per cent from N342.25 in September 2021 to N445.12 in September 2022, the Nigerian Bureau of Statistics (NBS) has revealed. The nation’s statistics bureau disclosed this in its Selected Foods Price Watch Report for September 2022, stating that the price of 1kg boneless […]

Headlines

Inflation rate hits 17-year high of 20.8% in September 2022- NBS

Ihesiulo Grace 18 October 2022 0

By Motolani Oseni Nigeria headline inflation rate rose to a 17-year high of 20.8 per cent year on year in September 2022, the National Bureau of Statistics (NBS) has revealed in its latest inflation report. The bureau on Monday in its September inflation report explained that the surge was jointly driven by a 40 basis […]

Business

How prices of food increased in July – NBS

Ihesiulo Grace 23 August 2022 0

The National Bureau of Statistics (NBS), has said the prices of selected food items increased in July. The bureau stated this in its Selected Food Prices Watch Report for July 2022, released in Abuja on Monday. The NBS stated that the average price of 1kg of white beans rose by 23.22 per cent from N444.21 […]